Sr. Sourcing Manager - Product Card Holder Insurance and Services

Visa•Foster City, CA

6d•Hybrid

About The Position

Visa Global Sourcing Global Sourcing is part of the Finance organization and manages Visa's end-to-end sourcing and procurement of goods and services. Sourcing is responsible for partnering with business owners relevant to assigned categories such as Product Card Holder Insurance and Services and others to lead all strategic sourcing activities globally to ensure optimal selection of suppliers that deliver best value in price and quality, while minimizing risk to Visa. 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 approximately USD100 in spend across a broad range of key Product card holder insurance and services suppliers. The specific focus on this role will involve stakeholders to define a vision, 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 SVP, VP-level leaders globally. In this role, he / she will provide Sourcing subject matter expertise, deep market insights and strategic guidance to business leaders by understanding their strategy, initiatives and plans. This person will be expected to deliver against an annual savings target. Essential FunctionsThis 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. Key responsibilities include, bPSut are not limited to the following: Relationship BuildingThis role supports several Visa executive leaders including Product, strategy, sales, corporate functions as well as other key stakeholders within VisaBuild strong relationships with business partners to drive Sourcing engagements and influence role of Sourcing within the various business teams. This person can expect direct visibility to senior executives including, but not limited to, Visa's SVP, and Leadership Team members.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.Take a global view to ensure that Visa leverages its scale domestically and internationally. Category ExpertiseDeliver end-to-end sourcing services. Lead sourcing processes, including executing RFx processes, conduct negotiations, review contracts, and manage other sourcing-related activities. Ensure that all procurement actions are efficient, cost-effective, and compliant with Visa's policiesParticipate in supplier selection and moderately complex contract negotiations, involving legal and other departments as necessary, to achieve favorable terms on quality, delivery, and price, and ensure end-user needs are met and deliver cost savingsDrive completion of simultaneous projects by proactively considering new alternatives and driving critical thinking to optimize resultsBuild relationships and effectively partners across varied functions with internal stakeholders, external suppliers, agencies, and colleagues to foster open and collaborating communication and influence changeCreate, write, negotiate, and review supplier contracts. Work with internal business partners to establish agreements that reflect the interests of the companyManage and analyze large datasets, and information sources to support business cases and the development of category strategies, negotiation plans, and internal discussionsTake part in and prepare materials for quarterly reporting, regularly recurring team meetings, and ongoing updates to peers and leaders around the organizationMaintain external focus by leveraging industry peers, organizations, associations and by continuing to build strong relationships outside of VisaProvide high level education to business partners on the overall continuous strategic sourcing process from needs identification, through supplier performance management across multiple partnersContribute significantly to the achievement of defined category performance targets and assist in driving the performance of associated suppliers, measure supplier's performance to ensure performance meets expectationsCommunicate effectively and frequently, listen carefully, and actively seek and value the perspectives of othersSupport various category leaders in developing supplier plans with a focus on continuous improvement and innovationSupport a high level of change management initiatives that require a strong understanding of external industry's best practices and implementation of Visa wide policiesDevelop and drive a pipeline of projects and proactively engages Stakeholder Business PartnersMaintain an understanding of the Insurance and fintech regulatory market as it impacts Visa strategies and market approach. This role will have global reach, high impact, and will be responsible for delivery of key program-level initiatives. The preferred candidate will bring an deep passion for industries that are relevant to Visa's Products, leading practices in insurance services, trends in digital and AI and supplier management and have a can-do attitude. Sourcing Capabilities - Commercial & Contract NegotiationsManage escalations. Support the Sourcing and Stakeholder teams to negotiate and drive best-in-class deals for Visa. This role requires a strategic view and the willingness to execute on the day-to-day.Drive multi-vendor strategies to optimize Visa's leverage and reduce operational risk. Execute RFx events to support Visa's Sourcing organization.Perform savings tracking and report realized savings on a continual basis.Negotiate contract terms and conditions as a first line of defense, in partnership with Visa Legal, Data Privacy, Cybersecurity, and other teams.Take part in quarterly reporting, regularly recurring team meetings, and ongoing updates to direct reports, peers and leaders around the organization. This is a hybrid position. Expectation of days in office will be confirmed by your hiring manager.

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

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
4 years of experience as a sourcing and or procurement professional, preferably with a focus on Visa Product Insurance and Software supplier relationships.
Demonstrated passion for Insurance and understanding of Visa Products and other Product category elements including the ability to converse with, and influence, key Product andProcurement 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 fact based negotiation experience with data driven analysis
Experience supporting 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.

Responsibilities

Build strong relationships with business partners to drive Sourcing engagements and influence role of Sourcing within the various business teams.
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.
Take a global view to ensure that Visa leverages its scale domestically and internationally.
Deliver end-to-end sourcing services.
Lead sourcing processes, including executing RFx processes, conduct negotiations, review contracts, and manage other sourcing-related activities.
Ensure that all procurement actions are efficient, cost-effective, and compliant with Visa's policies
Participate in supplier selection and moderately complex contract negotiations, involving legal and other departments as necessary, to achieve favorable terms on quality, delivery, and price, and ensure end-user needs are met and deliver cost savings
Drive completion of simultaneous projects by proactively considering new alternatives and driving critical thinking to optimize results
Build relationships and effectively partners across varied functions with internal stakeholders, external suppliers, agencies, and colleagues to foster open and collaborating communication and influence change
Create, write, negotiate, and review supplier contracts.
Work with internal business partners to establish agreements that reflect the interests of the company
Manage and analyze large datasets, and information sources to support business cases and the development of category strategies, negotiation plans, and internal discussions
Take part in and prepare materials for quarterly reporting, regularly recurring team meetings, and ongoing updates to peers and leaders around the organization
Maintain external focus by leveraging industry peers, organizations, associations and by continuing to build strong relationships outside of Visa
Provide high level education to business partners on the overall continuous strategic sourcing process from needs identification, through supplier performance management across multiple partners
Contribute significantly to the achievement of defined category performance targets and assist in driving the performance of associated suppliers, measure supplier's performance to ensure performance meets expectations
Communicate effectively and frequently, listen carefully, and actively seek and value the perspectives of others
Support various category leaders in developing supplier plans with a focus on continuous improvement and innovation
Support a high level of change management initiatives that require a strong understanding of external industry's best practices and implementation of Visa wide policies
Develop and drive a pipeline of projects and proactively engages Stakeholder Business Partners
Maintain an understanding of the Insurance and fintech regulatory market as it impacts Visa strategies and market approach.
Manage escalations.
Support the Sourcing and Stakeholder teams to negotiate and drive best-in-class deals for Visa.
Drive multi-vendor strategies to optimize Visa's leverage and reduce operational risk.
Execute RFx events to support Visa's Sourcing organization.
Perform savings tracking and report realized savings on a continual basis.
Negotiate contract terms and conditions as a first line of defense, in partnership with Visa Legal, Data Privacy, Cybersecurity, and other teams.
Take part in quarterly reporting, regularly recurring team meetings, and ongoing updates to direct reports, peers and leaders around the organization.