Strategic Sourcing and Procurement Manager

2 weeks ago

Denver, United States Envestnet | Yodlee Full time
 

The Strategic Sourcing and Procurement Manager is responsible for delivering category management, strategic sourcing, contract negotiations and supplier relationship management for IT and non-IT suppliers. Strong category-specific knowledge and experience is essential among IT categories such as cloud services, software including SaaS, third party data, infrastructure and architecture, and among non-IT categories such as facilities, human resources, marketing and professional services. This is a highly cross-functional position, working with business owners, executives, financial teams and more, which requires excellent relationship development and communication skills. The ideal candidate is also an analytic and thorough individual who can identify and deliver savings opportunities through complex projects and negotiations.

Job 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.
Adherence to and application of Envestnet legal, compliance, risk, business continuity and administrative policy within the role and department(s) including the timely completion of training & awareness, affirmations and testing as requested. 
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

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