Senior Strategic Sourcing Manager - IT

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Job description

SENIOR STRATEGIC SOURCING MANAGER - IT WHAT IS THE OPPORTUNITY? City National Bank is looking for a Strategic Sourcing Manager to join their centralized Procurement department supporting all business lines and offices in North America
This role will be responsible for leading complex negotiations and drafting contracts for commodities and services to be purchased by the bank
Interface with executive level management and make recommendations
Proactively identifies and recommends category sourcing options and partners with stakeholders to implement them
Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions
Analyze business plans, spend data, supplier and market data, to determine optimal sourcing strategies across businesses and assigned suppliers and/or commodities
Contributes to the achievement of defined category performance targets and participates in or leads competitive RFPs as necessary
Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions
Train and mentor other Procurement team members
What you will do Knowledgeable of the Strategic Sourcing process, drafting of contracts, financial reviews and procurement practices Lead negotiations and contract drafting for commodity/service to be purchased by the bank
Work with Legal, compliance, finance, the business and other department to minimize risk and obtain the favorable terms for the bank
Proactively identifies and recommends category sourcing options and partners with stakeholders to implement them
Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions
Analyze business plans, spend data, supplier and market data, to determine optimal sourcing strategies across businesses and assigned suppliers and/or commodities
Contributes y to the achievement of defined category performance targets and participates in or leads competitive RFPs as necessary
Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions
Research and stay current on industry practices for product and services within the assigned category(s)
Assist colleagues with interpreting contracts
Lead RFx activity
Builds and fosters relationships and effectively partners across varied functions with internal stakeholders, external suppliers, and colleagues to influence change, Manage assigned projects and communicate with the stakeholders
Ensures compliance with Company policies, procedures, standards, use of Procurement systems in alignment with the stakeholder's objectives
Prepare reports for management as requested
Manages supplier involvement and relationship with the Company
Manage Supplier audit activities
Governance of vendor sourcing agreements Manage/mitigate vendor risk, business continuity and security Acts as liaison with vendors to ensure organizational needs are met
Prepare and present strategic sourcing strategies for assigned suppliers and/or commodities to senior management
Develop / maintain market and technical expertise in assigned buy categories
Be recognized as subject matter experts (SME) of their commodity(s) Evaluate existing processes and provide process improvement recommendations in line with best practices and practical experience
Facilitate activities around supplier audits
Mine spend data to identify cost savings opportunities
Recommend to leadership supplier/vendor strategies for existing suppliers and alternatives
Trains and mentors other Procurement team members
Empowers others to achieve results through motivation, recognition and performance feedback
Participates with management in development of procurement strategies and plans
Strong analytical, critical thinking, negotiation and presentation skills
Must be able to work at strategic level and if requested tactical (hands-on)
Strong analytical, critical thinking, negotiation and presentation skills, Perform other duties as required
Must-Have Bachelor's Degree or equivalent Minimum 7 years Procurement experience required Minimum 5 years of experience working for a bank or financial services company required Skills and Knowledge Must have knowledge of negotiation principles & practices, and procurement practices
Ideal candidate is continuously learning and stays current on industry practices for product and services within the assigned category(s)
Must have skill in Negotiation & Drafting Acts with integrity
Experienced and skilled contract negotiator
Experienced drafting contracts terms & conditions and working with a team to develop a negotiation and sourcing strategy which will lead to the best negotiate outcomes
Must be able to adapt to change
Skill in asking questions and open to learning new concepts, ideas, and implement them
Creates and seizes opportunities even when faced with ambiguity; acts with integrity, is accountable and advocates in the best interest of the bank; is decisive and acts in a timely manner, acts on information and adapts with changes; seeks and accepts responsibility for failure; share responsibility for team success; seek best practices from across all industry sectors; advocate for solutions that will set the foundation for win-win solutions in future business opportunities
Good verbal and written communication skills
Thinks systematically and strategically to analyze issues, develop and create short and long term actionable plans
Considers details and sees the big picture
Sees around corners to preempt potential problems and leverage opportunities; connects multiple seemingly unrelated problems to see the big picture Continually develops a better understanding of current and future challenges and opportunities; creates a recommendation and works with Procurement to successfully implements ideas
Systematically develops new approaches to standard or recurring goals and issues
Generates the best outcomes through collaboration (business, Legal, compliance, etc.)
Values colleagues' individual differences and talents
Shares important or relevant information with the team to ensure solutions meets the needs of the bank
Thoroughness in completing a task/analysis/project with concern for all elements required at every level
Effectively manages time and resources
Embraces challenges Lead a team and manage up Flexible and adaptable to change Master's degree a plus Compensation Starting base salary: $101,231 - $172,355 per year
Exact compensation may vary based on skills, experience, and location
This job is eligible for bonus and/or commissions
To be considered for this position you must meet at least these basic qualifications The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification
It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job
Benefits and Perks At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues
Get an inside look at our Benefits and Perks
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT City National Bank is 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.' ABOUT CITY NATIONAL We start with a basic premise: Business is personal
Since day one we've always gone further than the competition to help our clients, colleagues and community flourish
City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today
City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies

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