Sourcing Manager Associate

Sumitomo Mitsui Banking • Jersey City, NJ

70d • $80,000 - $120,000 • Hybrid

About The Position

The Strategic Sourcing Manager will report to a Sourcing Category Leader(s) and is responsible for executing on category and supplier spend management strategies for third party supplier spend, executing sourcing projects (competitive bids, single-source negotiations, etc.), and contracting. This role will be focused on general services and Market Data Services.

Requirements

• Bachelor's Degree required with experience in the financial services industry a plus
• 3 to 5 years of professional services sourcing experience

Nice To Haves

• Collaborator and leadership skills
• Ability to adapt and thrive in an evolving environment
• Strong business acumen
• Strong issue resolution, negotiation, and project management skills
• Strong people skills
• Ability to engage with all management levels
• Initiative-taking /self-starter with ability to work independently
• Experience with PowerPoint and Excel pivot tables
• High level of comfort working with technology
• Ability to conduct market/industry/supplier analysis and synthesize data into a consumable format
• Experience and proven ability to drive change with management direction by influencing others at all levels within the organization
• Ability to communicate effectively with internal sourcing and client stakeholders
• Cost Modeling: ability to understand value streams, cost drivers and how to break down cost structures to derive a TCO
• Experience in drafting and redlining contracts
• Strong knowledge of the key aspects of the RFI/RFP/RFQ and the sourcing process

Responsibilities

• Work with internal stakeholders to define requirements
• Identify qualified suppliers
• Design and execute the competitive process
• Evaluate competitive offerings from suppliers and develop and present sourcing options that meet SMBC's business requirements
• Conduct commercial term negotiations
• Implement and govern buying channels
• Partner and collaborate with regional sourcing colleagues, internal stakeholders, Internal Procurement Operations, Third Party Risk and Contract Management, In-house Legal, Risk and Finance teams
• Maintain compliance with all policy and procedural guidelines
• Identify new opportunities that address or anticipate client needs

Benefits

• Competitive portfolio of benefits

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree
• Number of Employees: 5,001-10,000 employees