Vice President, Sourcing Lead

2 weeks ago


New York, United States BlackRock Full time

Description

About this role

Firm Overview:
BlackRock is one of the world’s preeminent asset management firms and a premier provider of global investment management, risk management and advisory services to institutional, intermediary and individual investors around the world. BlackRock offers a range of solutions — from rigorous fundamental and quantitative active management approaches aimed at maximizing outperformance to highly efficient indexing strategies designed to gain broad exposure to the world’s capital markets. Our clients can access our investment solutions through a variety of product structures, including individual and institutional separate accounts, mutual funds and other pooled investment vehicles, and the industry-leading iShares® ETFs.

Business Unit Overview:
BlackRock Finance consists of finance professionals in disciplines such as Financial Planning & Analysis, Treasury, Tax, Finance Controls, Sourcing and Vendor Management (“SVM”), Finance Platform Support and Controllers. SVM is a global team, with team members based in New York, Gurgaon, Budapest, London and various other European locations. SVM aims to be Trusted Strategic Sourcing Advisors enabling BlackRock to achieve more. The SVM team helps to negotiate agreements with its vendors to help achieve optimum value, identify and mitigate vendor risks and provides strategic advice to our clients. The SVM team aims to deliver cost reductions, deliver reliable analytical data for improved decision making, and enable a socially responsible and diverse supplier base.

Background

SVM seeks a seasoned professional in sourcing/procurement to lead the sourcing/contract life-cycle for the Marketing Category on behalf of the BlackRock.

The role requires leading a team of sourcing leads who facilitate the entire management of sourcing activities from understanding stakeholder needs, identifying appropriate solutions, strategy development, vendor assessment & due diligence, production of RFI/RFP documentation, proposal assessment & development of recommendation, contract term and price negotiation and overall stakeholder management. In addition, there may be an occasional requirement to process more volume driven BAU contracts & SOW’s in an efficient and effective manner.

Principal duties include:

- Leading a global team of sourcing professionals who facilitate the full strategic sourcing cycle, including vendor identification and selection, price negotiation, and contract “red-lining” (i.e. contract drafting and editing)
- Category planning and driving strategic sourcing initiatives across global stakeholders in Marketing and Corporate Affairs
- Ensuring the value of engaging SVM is understood by key internal stakeholders - such as championing the benefits of best-in-class strategic sourcing principles and practices and the importance of appropriate supplier relationships to ensure sustainability
- Development of strategic sourcing opportunities through competitive bidding, proof-of-concept, demand management, supplier consolidation, and process reengineering
- Understanding of the Marketing supplier base
- Knowledge of commercial and legal contract terms (e.g. liability, indemnification)
- Partnering with Third Party Risk, and Legal teams around the world in the negotiation of: Master Services Agreements, Master Hosted Services Agreements, Statements of Work, Service Level Agreements, etc.
- Think and act globally to collaborate effectively on a cross-functional basis. Align the business unit, local, regional and global organization to maximize achievement of sourcing objectives and continuity of supply to position sourcing as a competitive advantage for BlackRock.
- Provide strategic insight into global and regional marketplaces
- Lead a robust pipeline of sourcing projects in parallel with broader strategic projects
- Develop and consolidate market research and benchmarking of suppliers and related service categories
- Actively participate in continuous improvement activities to exceed customer expectations
- Actively participate in SVM projects and team activities
- Recruit, cultivate and manage high potential team members
- Coaching, mentoring, managing and developing junior staff members

Experience required:

- 8-10+ years of strategic sourcing experience at a consulting firm, technology organization, or financial services firm
- Category Planning and management experience
- Depth in drafting, negotiating and redlining global contracts. Strong understanding with contract law, being able to understand, interpret and articulate key legal terms in agreements.
- A passion for the marketing sector, including a comprehensive understanding of media agencies, creative agencies, and digital marketing
- Financial modelling skills to build multiple negotiation scenarios, total cost of ownership models, consumption models, and demand forecasts, etc.
- Strong experience with competitive bidding techniques (RFI, RFP, RFQ), anal



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