Strategic Sourcing Lead
The Strategic Sourcing Lead will be instrumental in developing and implementing sourcing strategies that align with the company's business objectives while driving cost efficiencies and maximizing supplier value. As a lead in the procurement strategic sourcing team, this role will oversee all aspects of sourcing, from identifying procurement needs to negotiating contracts with key suppliers. The role's strategic mindset and analytical skills will be vital to assess market trends, supplier capabilities, and risks to ensure our sourcing decisions support the overall goals of the company. This position will collaborate closely with cross-functional teams, including finance, operations, and risk management, to ensure integrated approaches to sourcing. The role will possess a deep understanding of the financial services industry's unique challenges and opportunities and will be skilled in fostering strong relationships with both internal stakeholders and external vendors.  Primary business functions the role will support include HR, Marketing, Legal, Core Banking, and Technology.  Experience negotiating contracts with financial services vendors that provide products and services to these functions is imperative.

 

Key Responsibilities and Duties

Develops and executes strategic sourcing strategies to meet the organization's procurement goals. Analyzes market trends and supplier performance to identify opportunities for cost reduction and value creation. Negotiates contracts and terms with suppliers to ensure optimal pricing, quality, and service levels. Collaborates with cross-functional teams to gather and consolidate sourcing requirements across the bank. Evaluates and manages supplier relationships to ensure compliance with contractual obligations and performance standards. Conducts risk assessments related to suppliers and implements strategies to mitigate identified risks. Provides leadership and guidance to junior team members within the procurement function.

Minimum Qualifications

5+ years in strategic sourcing, procurement, or vendor management Proven success leading sourcing initiatives across multiple categories (e.g., IT, Marketing, Operations, Corporate Services) Experience negotiating complex contracts and managing supplier relationships Ability to develop and implement sourcing strategies that align with business objectives while driving cost efficiencies

Preferred Qualifications

7+ years in strategic sourcing, procurement, or vendor management Bachelor’s or Associate’s degree in Finance, Supply Chain Management, Business Administration, or a related field (or equivalent work experience) Experience leading enterprise-wide sourcing initiatives Background in banking or financial services sourcing environments Demonstrated ability to manage multiple projects and priorities in a fast-paced environment Advanced proficiency in sourcing platforms (e.g., Oracle, SAP, etc.)

Educational Requirements

University (Degree) Preferred

Role Specific Work Experience

5+ Years Required; 7+ Years Preferred

Physical Requirements

Physical Requirements: Sedentary Work

Career Level
8IC

This position is Hybrid.  Hybrid work requires working in the office four days per week.  One flexible day to work remotely.