Strategic Sourcing Analyst II

M&T Bank-posted 3 months ago
$60,890 - $101,483/Yr
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The position involves working with business and support units to understand their needs, formulate strategies, and source suitable suppliers at the best price to meet requirements. The role carries out the Strategic Sourcing process designed to maximize competition and leverage when selecting and contracting with chosen suppliers. The individual will negotiate contracts generally between $500K and $5M in value.

  • Work with management to identify an Executive Sponsor and a cross-functional project team for major sourcing initiatives.
  • Guide the Project Team through the Strategic Sourcing process and keep the Executive Sponsor and relevant senior managers informed of progress, setbacks, and obstacles.
  • Lead a kick-off meeting with the Project Team to clarify objectives, strategy, and proposed timeline of the sourcing initiative.
  • Develop and execute Requests for Proposals (RFPs), Requests for Quotes (RFQs), and/or Requests for Information (RFIs) based on identified business needs, market conditions, and corporate standards.
  • Facilitate analysis, evaluation, and scoring of vendor proposals against established criteria.
  • Conduct multiple rounds of bids and coordinate activities such as supplier demonstrations, reference calls, and on-site visits to short-list suppliers.
  • Lead contract negotiations in conjunction with the Project Team and Legal to obtain competitive pricing and favorable terms.
  • Prepare documentation to inform Executive Sponsor and senior managers of recommendations and results of the sourcing initiative.
  • Guide business and support units through the Third-Party Risk Management Program to ensure selected vendors are properly vetted and approved.
  • Research and analyze procurement trend data and recommend savings opportunities.
  • Understand and adhere to the Company’s risk and regulatory standards, policies, and controls.
  • Identify risk-related issues needing escalation to management.
  • Promote an environment that supports belonging and reflects the M&T Bank brand.
  • Maintain internal control standards, including timely implementation of audit points and issues raised by regulators.
  • Complete other related duties as assigned.
  • Bachelor’s degree and a minimum of 2 years’ proven financial and/or business experience, or a combined minimum of 6 years’ higher education and/or work experience including 2 years’ proven financial and/or business experience.
  • Proficiency with personal computers and pertinent mainframe systems and software packages, including procurement-specific software.
  • Strong time management skills.
  • Detail-oriented with strong organizational and analytical skills.
  • Strong verbal and written communication skills.
  • Experience interacting with all levels of management.
  • Strong presentation skills.
  • Experience writing Requests for Proposal (RFPs) and negotiating contracts.
  • Experience with Contract Lifecycle Management and eSignature software tools.
  • Bachelor’s degree and a minimum of 4 years proven financial and/or business experience.
  • Medical insurance
  • Retirement plans
  • Forty hours of paid volunteer time each year
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