Senior Associate - Sourcing & Procurement

New York Life • New York, NY

123d • $77,500 - $112,000

About The Position

This Sourcing Associate's key responsibilities are to i) lead the planning and development of sourcing strategies for sourcing requests of varying complexity, and ii) take responsibility for the execution of these strategies. This role partners with New York Life's business stakeholders, legal resources and other Procurement team members to deliver value-added business solutions through New York Life's supplier base. In addition to recommending appropriate procurement strategies and methodologies, the Sourcing Associate oversees the sourcing, negotiating, and contracting of goods and services.

Requirements

• 2-3 years minimum level of experience; minimum 1 year in a procurement/sourcing role, specifically sourcing professional services.
• Bachelor's degree.
• High-level understanding of relevant procurement processes including strategic sourcing, sourcing management, competitive bidding, contract management, and purchasing.
• Expertise in legal terms and conditions.
• Knowledge and experience in insurance or financial service industries.
• Strong project management skills.
• Intellectually curious analytical and strategic thinker.
• Demonstrated ability to analyze/research problems and make timely recommendations.
• Strong ability to influence and build consensus among members of the organization.
• Strong data analysis capabilities, with an emphasis on sourcing analytics, supplier performance metrics, and cost modeling.
• Proficiency in Microsoft Excel.

Nice To Haves

• Experience using procurement data to create insights that influence strategy and support stakeholder alignment.

Responsibilities

• Lead the planning and development of sourcing strategies for sourcing requests of varying complexity.
• Take responsibility for the execution of sourcing strategies.
• Partner with business stakeholders, legal resources, and Procurement team members.
• Manage complex vendor relationships and negotiate high-value service contracts.
• Articulate, influence, and translate external market trends to develop Sourcing insights aligned with NYL objectives.
• Develop short- and long-term strategies and oversee execution that leverage economies of scale and scope.
• Assess overall spend, current and prospective suppliers, and client requirements.
• Work with Procurement team members to develop a project pipeline and prioritization schedule.
• Assist in the creation and communication of savings targets and programs.
• Ensure senior management understanding of sourcing recommendations and assist in implementation.
• Accountable for managing large strategic procurement initiatives and/or programs.

Benefits

• Leave programs
• Adoption assistance
• Student loan repayment programs
• Annual discretionary bonus
• Incentive program

What This Job Offers

• Career Level: Mid Level
• Industry: Insurance Carriers and Related Activities
• Education Level: Bachelor's degree