Lead Sourcing Consultant - Technology

Wells Fargo & Company•Minneapolis, MN

1d•$100,000 - $179,000•Hybrid

About The Position

Wells Fargo is seeking a Lead Sourcing Consultant - Technology to join the Strategic Sourcing Team as part of the Chief Administrative Office (CAO). In this role, you will lead technology/software/AI contract negotiations and manage supplier relationships of high risk or complexity with significant impact to the business strategy. You will manage suppliers and relationships from a life-cycle perspective with a focus on reducing cost or spend, increasing customer satisfaction, and maximizing business impact. You will establish cost reduction strategies to continually improve category effectiveness and efficiencies, draft legal contract language to proactively address technology, market and business issues, and control all aspects of negotiation and set negotiation strategy. You will participate in the review and analysis of expiring agreements, lead projects required to ensure legal and regulatory compliance, as well as educate and act as a resource for business partners and less experienced staff. You will educate business partners on risk issues and handle vendor disputes, provide direction and guidance to less experienced staff, and partner with business units to issue and evaluate Request for Proposals, guide vendor selection and ensure successful negotiation of agreements. You will partner with business units to ensure contracts meet corporate and regulatory requirements, and establish and maintain a good rapport with executive management, vendors, business partners and key stakeholders to optimize negotiations, savings, service improvements and problem resolution. You will act as a focal point for coordinating sourcing efforts across business entities.

Requirements

5+ years of Sourcing, Procurement experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
Fundamental understanding of contract law, including a minimum of 5 years’ experience drafting, reviewing, and interpreting contracts
Comprehensive sourcing and contract negotiation experience with suppliers in one or more of the following categories: technology (e.g. AI/cybersecurity/software/SaaS/public and private cloud), financial services industry related products and services
Experience negotiating contracts and sourcing for a large complex organization in a highly regulated environment
Ability to project manage deals, including legal, financial and stakeholder reviews
Strong benchmarking and financial analysis capabilities
Proficiency with leading web-based contract management and strategic sourcing (RFx) (ex: Beeline, Emptoris, and Ariba)
Ability to quickly establish credibility to build and maintain effective working relationships
Strong time management skills and ability to meet deadlines
Strong analytical skills and high attention to detail

Responsibilities

Lead technology/software/AI contract negotiations and manage supplier relationships of high risk or complexity with significant impact to the business strategy
Manage suppliers and relationships from a life-cycle perspective with a focus on reducing cost or spend, increasing customer satisfaction, and maximizing business impact
Establish cost reduction strategies to continually improve category effectiveness and efficiencies
Draft legal contract language to proactively address technology, market and business issues
Control all aspects of negotiation and set negotiation strategy
Participate in the review and analysis of expiring agreements
Lead projects required to ensure legal and regulatory compliance, as well as educate and act as a resource for business partners and less experienced staff
Educate business partners on risk issues and handle vendor disputes
Provide direction and guidance to less experienced staff
Partner with business units to issue and evaluate Request for Proposals, guide vendor selection and ensure successful negotiation of agreements
Partner with business units to ensure contracts meet corporate and regulatory requirements
Establish and maintain a good rapport with executive management, vendors, business partners and key stakeholders to optimize negotiations, savings, service improvements and problem resolution
Act as a focal point for coordinating sourcing efforts across business entities