Director of Strategic Procurement
4 days ago
City National Bank is seeking a highly skilled and experienced Director of Strategic Sourcing to join our team. As a key member of our procurement organization, you will be responsible for developing and executing strategic sourcing plans that drive cost savings, process efficiency, and supplier performance improvement.
Key Responsibilities- Collaborate with senior management to define sourcing priorities and strategies.
- Develop and execute strategic sourcing plans aligned with the bank's goals and objectives.
- Collaborate with key stakeholders to understand business needs and translate them into actionable sourcing plans.
- Jointly develop category strategies with BU/COR leadership and assessment partner input.
- Establish category management capabilities and develop a deep understanding of the CNB vendor landscape.
- 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.
- Collaborate with internal stakeholders, including finance, legal, operations, and business units, to understand their sourcing needs and ensure alignment with enterprise initiatives.
- Serve as the focal escalation point for Procurement, TPRM leaders, and BU leaders to raise issues that cannot be resolved within the function.
- Foster a culture of collaboration and communication to drive alignment and maximize value across the organization.
- Provide strategic guidance and RFP support to business units in the selection and management of suppliers.
- Serve as a subject matter expert and trusted advisor on sourcing-related matters to internal stakeholders.
- Responsible for the ownership, management, steady improvement, and consistent adoption/usage of procurement practices across the enterprise.
- Identify and mitigate sourcing-related risks, including supply chain disruptions, vendor failures, and regulatory compliance issues.
- Monitor and report on key performance indicators (KPIs) related to sourcing efficiency, cost savings, and supplier performance.
- Build and develop a high-performing team by providing coaching, mentoring, and professional development opportunities.
- Foster a culture of continuous learning, knowledge sharing, and innovation.
- Recruit and retain top talent to support the organization's strategic sourcing objectives.
- 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.
- Excellent communication and interpersonal skills, with the ability to influence and collaborate effectively across functions and levels of the organization.
City National Bank offers a competitive salary range of $157,943 - $293,299 per year, with the potential for bonus and/or commissions. We also offer a comprehensive benefits package and a dynamic work environment that fosters collaboration, innovation, and growth.
We are an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, or any other basis protected by law.
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