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Strategic Sourcing and Procurement Manager

3 months ago

Berwyn, United States Envestnet Full time

**Description**

Envestnet is seeking a passionate and talented **Strategic Sourcing and Procurement Manager **to join our Finance team. This position is expected to report either to our Berwyn, PA and Denver, CO office, or has the capability to work remotely.

Envestnet is transforming the way financial advice and wellness are delivered. Our mission is to empower advisors and financial service providers with innovative technology, solutions, and intelligence to make financial wellness a reality for everyone.

Since our founding 20 years ago, we are fully vested in helping people live an intelligent financial life. If you love the idea of working in a Fintech company with the environment and excitement of a start-up where you are making everyday impact - then read on.

**Job Summary**:
**Responsibilities**:

- Serve as a spend category expert for IT-specific and non-IT spend categories. Maintain in depth knowledge of external trends, future developments, key suppliers, regulatory requirements and general market practices and costs in assigned categories through ongoing research and continuing professional education.
- For assigned categories, implement comprehensive short and long-term category plans that include supplier rationalization and consolidation strategies, demand management, supplier relationship management programs, and cost savings plans.
- Analyze spend within assigned categories and deliver a pipeline of strategic sourcing projects. Execute pipeline projects, deliver associated cost savings, and regularly update the pipeline in collaboration with internal business partners.
- Design and lead strategic sourcing initiatives (RFI / RFP, bids, auctions, etc.) in collaboration with internal business partners, including evaluation criteria, full cost analysis and robust decision making processes.
- Lead and complete complex negotiations with suppliers related to scope, costs, service levels.
- Negotiate and finalize contract terms and conditions with suppliers. Participate in full lifecycle contract management activities including regular review, updates and management of existing contracts.
- Participate in the third party risk management program. Follow third party risk management requirements into category management, strategic sourcing, contracts and ongoing supplier relationship management.
- Initiate, develop and maintain strong professional relationships with executives and business owners aligned with assigned spend categories. Lead periodic meetings with senior leaders to provide updates, insights and status of forward-looking pipeline, and build executive sponsorship for potential changes and impacts.
- In collaboration with internal business partners, drive ongoing supplier relationship management activities including compliance with contracts and service level agreements, periodic business reviews, issue resolution, and completion of third party risk management requirements.
- Work closely with Finance team members to support business case realization, financial analysis, budgeting, forecasting and variance analysis associated with third party spending.
- Work closely with procurement team members to execute and manage purchase orders and related transactions for managed suppliers.
- Participate in the improvement and enhancement of category management, strategic sourcing, negotiation and contract management processes, procedures, tools and templates.
- All other duties as assigned.
- As part of the responsibilities for this role, you will understand and readily support Envestnet's established corporate business practices, policies, internal controls and procedures designed to create value or minimize risk.

**Required Qualifications**:

- Bachelor's degree in Business, Finance, Supply Chain, or related experience (Masters a plus)
- 7+ years of category management, sourcing, negotiation and contract management experience
- Category knowledge and experience in listed IT and non-IT categories
- Experience supporting sourcing, procurement and third party risk management, preferably but not required in a financial services, technology and regulated company
- Understanding foundational concepts of project management, finance, accounting, operating expense and capital spending
- Proficient in Microsoft Office programs (especially Word, PowerPoint and Excel, including pivot tables, vlookups, etc.)
- Excellent negotiation and communication skills
- Excellent relationship building skills and leads with empathy
- Detailed, investigative and accuracy-oriented
- Proactive, results-oriented with a bias for action
- Ability to handle multiple projects simultaneously to meet specified goals and deadlines
- Ability to listen carefully and ask relevant questions to gather relevant facts required

**About Us**:
Envestnet is a leading independent provider of technology‐enabled investment and practice management solutions to financial advisors who are independent, as well as those who are associated with