Bus Operations & Strategy Consultant - Tech Labor Supplier Mgt

Truist•Atlanta, GA

10d•Onsite

About The Position

The Business Operations & Strategy Consultant is responsible for developing and managing complex and strategic supplier relationships to ensure alignment with Truist's strategic objectives. This role involves leading the supplier management process, including supplier strategy, onboarding and due diligence, and ongoing performance monitoring. A key focus is on Relationship Management, ensuring effective communication and collaboration with suppliers to foster long-term partnerships that deliver value to the institution. This role will oversee Financial and Cost Management aspects of supplier engagements, including requirements and financial planning, cost optimization, and contract utilization. The role involves the development and enforcement of Service Level Agreements (SLAs) to ensure suppliers meet performance expectations. The role will conduct ongoing monitoring and evaluation of supplier performance, ensuring compliance with SLAs and other contractual obligations. This position requires a deep understanding of procurement practices, financial regulations, and the ability to balance cost efficiency with high-quality service delivery. This role will work closely with cross-functional teams to drive value, optimize costs, and mitigate risks associated with third-party suppliers, supporting Truist's growth and operational efficiency.

Requirements

Bachelor’s degree or equivalent education, training, and work-related experience.
Minimum of 5 years of relevant experience in business operations or related professional roles.
Strong knowledge of business processes and technology applications.
Proficiency in standard office software (e.g., Microsoft Office).

Nice To Haves

Banking or financial services experience.
Fieldglass system knowledge
ARIBA contract knowledge
ARCHER supplier management responsibilities as required by the Third Party Risk Management program.

Responsibilities

Collaborate with key stakeholders to develop and implement supplier strategies that align with Truist’s overall business objectives.
Identify and evaluate potential suppliers, ensuring they meet the institution's strategic needs and compliance requirements.
Lead the onboarding process for suppliers, ensuring they meet Truist’s standards for quality, security, and compliance.
Conduct thorough due diligence on suppliers, including financial stability, operational capabilities, and risk factors.
Establish and maintain strong relationships with strategic suppliers, business stakeholders, and sourcing, acting as the primary point of contact.
Facilitate regular communication between Truist and suppliers to ensure alignment and address any issues promptly.
Develop and enforce Service Level Agreements (SLAs) to ensure suppliers meet performance expectations.
Conduct regular performance reviews, analyzing key metrics and KPIs to assess supplier effectiveness and identify areas for improvement.
Collaborate with finance, business stakeholders, sourcing, and other departments to develop financial plans related to supplier engagements.
Identify and implement cost-saving opportunities without compromising service quality or operational efficiency.
Ensure effective contract utilization, maximizing value from supplier agreements.
Identify potential risks associated with supplier relationships and develop mitigation strategies.
Monitor supplier compliance with regulatory requirements and internal policies, taking corrective actions when necessary.
Work closely with procurement, finance, legal, and other departments to ensure seamless supplier management processes.
Provide insights and recommendations to senior leadership on supplier performance and cost management strategies.
Stay updated on industry trends, best practices, and emerging technologies related to supplier management.
Lead initiatives to improve supplier management processes, driving innovation and efficiency.
Oversee contract negotiation and management, ensuring favorable terms and conditions that align with Truist’s interests.
Manage the renewal and termination of supplier contracts in a timely and efficient manner.
Prepare and present reports on supplier performance, cost management, and other key metrics to senior leadership.
Maintain accurate and up-to-date records of supplier engagements, contracts, and performance evaluations.