Sr. Sourcing Manager - People Benefits

Visa•Austin, TX

3h•Hybrid

About The Position

Visa Global Sourcing As part of Visa’s Global Sourcing team within Finance, the Senior Sourcing Manager will lead strategic sourcing initiatives for a subcategory within People (HR) category, which includes benefits (medical, pension, disability), mobility, talent acquisition, and learning & development services for Visa employees worldwide. Reporting to the Senior Director, Global Sourcing, you will act as a trusted advisor, providing market insights and sourcing expertise to influence HR strategies and deliver measurable savings. Global Sourcing is part of the Finance organization and manages Visa’s end-to-end sourcing and procurement of goods and services. This role partners closely with senior stakeholders across Visa’s global regions to deliver cost optimization, risk mitigation, and supplier strategies aligned with business objectives. Overview: Reporting to the Sourcing - Senior Director of Global Sourcing, this Sr. Manager will serve as an individual contributor and own a portfolio in support of Visa’s Sourcing organization. Year-over-year, this person will oversee spend with suppliers relating to the People category including suppliers who provide insurance benefits (ex: medical, pension, disability etc.) for Visa employees worldwide. The specific focus on this role will involve understanding the Visa People team’s vision and requirements as it relates to providing benefits to employees, then delivering upon that vision through execution of Sourcing activities. This role will partner closely with key stakeholders across Visa including but not limited to VP of Benefits and regional leaders across Visa’s 5 global regions. In this role, he / she will provide subject matter expertise of insurance industry, market insights and Sourcing guidance to business leaders to influence their strategy, initiatives and plans. This person will be expected to deliver against an annual savings target among other key objectives. This is a mid-level role within Visa’s Global Sourcing organization and the responsibilities range from building relationships with business and supplier executives and working with stakeholders at all levels of the organization to drive strategic decision, to leading sourcing business partners to deliver savings while balancing the risks and regulatory issues from engaging third parties. This role demands a strategic thinker with strong negotiation skills, in-depth knowledge of global insurance markets, and the ability to build strong relationships with internal stakeholders and external suppliers. Your expertise will be crucial in optimizing Visa's spend on employee insurance benefits while ensuring compliance, managing risks, and aligning with company objectives.

Requirements

8 or more years of relevant work experience with a Bachelor Degree or at least 5 years of experience with an Advanced Degree (e.g. Masters, MBA, JD, MD) or 2 years of work experience with a PhD
4 years of experience as a sourcing and or procurement professional, preferably with a focus on People/ HR related and insurance and Rx benefits supplier relationships.
Demonstrated passion for People/ HR category understanding of People, benefits, insurance category elements including the ability to converse with, and influence, key People/ HR and Procurement executives on supplier strategy, sales models, market Visa levers, and financial modelling.
Excellent written, oral and presentation skills and an ability to synthesize complex and technical information into clear recommendations on course of action.
Demonstrated experience in negotiating with People/HR category suppliers with data driven analysis
Experience supporting People/HR and other stakeholders with a passion to deliver outstanding customer service, forge lasting relationships, and approach goals with team interests in mind.
Demonstrated ability to manage vendor relationships and influence key vendor account executives.
High level of self-motivation and initiative, and ability to operate as a team player.
Willingness to offer thought leadership, to think Positively, and to offer new ways of approaching old problems.
Undergraduate degree required, preferable in business, economics, computer science or engineering-related field graduate degree in business, economics or engineering a plus.

Nice To Haves

9 or more years of relevant work experience with a Bachelor Degree or 7 or more relevant years of experience with an Advanced Degree (e.g. Masters, MBA, JD, MD) or 3 or more years of experience with a PhD

Responsibilities

Lead end-to-end sourcing for People category: RFX processes, negotiations, contract reviews, and supplier management.
Develop global supplier strategies and optimize spend across benefits, insurance, and HR services.
Conduct market analysis to identify trends, benchmark pricing, and recommend innovative solutions.
Negotiate optimal contract commercial terms and structures (MSAs, SOWs) ensuring compliance, risk management, and favorable T&Cs
Work closely with category teams and key stakeholders within Visa to establish supplier strategies This includes identifying and partnering with preferred insurance carriers to optimize spend and service quality for Visa employees worldwide.
Build strong relationships with HR leaders, including VPs and Directors, and influence sourcing strategies.
Provide regular updates on deal status, category performance, and sourcing initiatives to senior executives.
Collaborate with cross-functional teams (Legal, Risk, Data Privacy, Cybersecurity) to ensure alignment and compliance.
Deliver against annual savings targets and track realized savings.
Maintain a pipeline of sourcing projects and prioritize initiatives that drive business value.
Stay informed on global regulatory changes impacting HR sourcing strategies.
Regularly update executives at all levels of the company on deal status, category reporting, etc. Provide continuous written and verbal updates to the business partners, suppliers and other stakeholders on the status of deal.