Director Strategic Sourcing
3 days ago
We are seeking a highly skilled and experienced Director Strategic Sourcing to join our team at City National Bank. As a key member of our procurement team, you will be responsible for developing and executing strategic sourcing plans that drive cost savings, process efficiency, and supplier performance improvement.
Key Responsibilities- Develop and execute strategic sourcing plans aligned with the bank's goals and objectives.
- Collaborate with senior management to define sourcing priorities and strategies.
- Jointly develop category strategies with BU/COR leadership and assessment partner input.
- Analyze market trends and industry dynamics to identify sourcing opportunities and risks.
- Streamline procurement processes and procedures to improve efficiency and reduce costs.
- Implement best practices and tools for sourcing, contract management, and supplier performance evaluation.
- Ensure compliance with regulatory requirements and internal policies throughout the procurement lifecycle.
- Lead complex high-dollar/vendor risk negotiations and support sourcing managers in negotiations while monitoring/delivering on savings targets for annual cost reduction improvements.
- Evaluate vendor capabilities, performance, and financial stability to ensure a reliable and competitive supply chain.
- Negotiate contracts, pricing, and terms with vendors to achieve optimal value while minimizing risk.
- Establish and maintain strong relationships with key suppliers to drive innovation and continuous improvement.
- Bachelor's degree in business administration, finance, supply chain management, or a related field.
- 10+ years of experience in strategic sourcing, procurement, or supply chain management, preferably in the banking or financial services industry.
- 5+ years in a management/leader role.
- Strong understanding of banking operations, regulatory requirements, and industry best practices.
- Proven track record of developing and executing sourcing strategies that drive cost savings, process efficiency, and supplier performance improvement.
- Strong interpersonal skills and ability to work collaboratively with multiple business owners and key stakeholders.
- Excellent negotiation, contract management, and vendor relationship management skills.
- Strong analytical and problem-solving abilities, with proficiency in data analysis and financial modeling.
At City National Bank, we offer a competitive salary and benefits package, including a starting base salary of $157,943 - $293,299 per year, bonus and/or commissions, and a comprehensive benefits program.
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