Strategic Sourcing Category Manager - Banking Industry

Flagstar Bank

26d•Remote

About The Position

Responsible for leading and building best in class strategic category support which includes: developing strategy; leading in support of categories; establishing category plans for the collective group of spend categories to drive total cost of ownership savings; leading the development and execution of reporting and tracking mechanisms; reporting on category strategies and performance; driving cross-functional category teams in change management and supply/service continuity; defining procurement requirements, SLAs/KPIs,and operational needs. Involves a long-term approach to keeping an eye on market trends and building relationships with suppliers. Strategic position that aligns procurement with the overall vision and objectives of the organization. Specific and deep current category knowledge and experience in Information Technology, Mortgage Originations/Servicing and/or Facilities/Corporate Real Estate. Will provide thought leadership and overall direction to the company with regards to its suppliers with the effective utilization of Strategic Category, Procurement and Contract Management. The individual must be experienced in category specific products (Information Technology, Servicing, etc.) providers and markets as well as, skilled at identifying appropriate performance measures and securing optimal supplier performance and category/contacting outcomes. Will use strong relationship management, planning and negotiation skills to drive performance outcomes supporting the business unit(s) and support categories. Charged with implementing the strategic vision and direction of Strategic Supply Management in support of and alignment with Bank objectives. Will have a keen focus on effectively managing third-party risk through a consistently applied and sound managed category/contracting process, effective contracts and corporate governance and controls. Is expected to have a broad organizational impact in identifying key process needs and address changes needed to effectively support company strategies to manage consumption and demand in the context of controlling expenses for specific categories as component of over $500 million in third-party spend. This role operates as part of a team that is responsible for the overall category, contracting and management of the Bank’s supplier population. Strategic sourcing tends to be short-term since is focuses on meeting immediate demands, whereas category management involves a long-term approach to keeping an eye on market trends and building relationships with suppliers. Category management is a strategic approach that aligns procurement with the overall vision and objectives of the organization and supports the executives proactively.

Requirements

High School diploma, GED, or foreign equivalent required.
Bachelors Degree Preferred in Supply Chain Management, Accounting, Finance, or Business Administration.
8+ years experience in supply chain management, contract negotiation, vendor management, and third-party management within a highly regulated environment for large scale financial/banking, mortgage origination/servicing organizations.
Specific and deep current category knowledge and experience in Information Technology and/or Facilities/Corporate Real Estate.
6+ years working knowledge and experience with OCC, FFIEC and/or other regulatory guidelines.
Ability to productively interact with internal and external levels of management that will include: senior bank officers, vendor account relationship managers, FSB senior and executive level individuals, and/or vendor principles and ownership.
Ability to work with key business partners and senior leadership to understand strategic direction, supply requirements and corporate business objectives and priorities.
Drive thought leadership for Bank vendor spend and categories providing market and industry intelligence, innovation and best practices.
Ability to deliver consistent delivery of positive results to ensure strategic direction, operational, regulatory compliance, risk, cost and quality goals are achieved.
Strong understanding and experience in highly effective supplier/third party management activities: 6- or 7-step Strategic Category process including market analysis, supplier identification, selection, negotiation, contracting, risk management, relationship management, financial management, performance management and contract management.
Ability to use best judgment and discretion in solving issues and/or satisfying overall Bank together with stakeholder needs when corporate policy and procedures appear absent or silent on the issue(s).
Analytical and passionate in thinking and building vendor spend and opportunity analyses to drive meaningful cost savings across the Bank.
Demonstrated capability with excellent verbal and written communication skills, project management, strong analytical and problem-solving skills, multi-tasking in a fast-paced environment and general leadership/management skills.
Self-motivated, takes initiative and has the ability to effectively organize, multi-task, and prioritize a wide-array of initiatives and consistently deliver timely results.
Experience with Contract Lifecycle Management, Category, Procurement and/or ERP related systems and tools.
Proficient to advanced skills with Excel, Word, Powerpoint and Outlook.
High integrity and ethics.

Nice To Haves

Masters degree or JD degree preferred.

Responsibilities

Work with key business partners and leadership to understand direction, supply requirements and corporate business objectives and priorities.
Drive thought leadership in categories providing market and industry intelligence, innovation and best practices to include negotiating, executing & managing contracts.
This position is responsible for the strategic category of vendors by identifying vendors for bidding procedures to drive the best possible commercial outcome for the Bank and for negotiations when single-sourced opportunities require negotiation. This includes comparing vendor proposals to industry benchmarks and assisting the business unit in producing market studies to justify price and vendor selection.
Plans, develops, directs, and implements complex business strategies through the establishment of short/long-range objectives, change management, performance goals, and metrics for each spend category.
Collaborates with Operations, Legal, TPRM/SMEs, Tax, Finance, the Business Units, and other stakeholders as needed to champion enterprise wide cross-functional category initiatives.
Identifying savings opportunities.
Is responsible for optimizing committed spends on behalf of the company by directing spend analysis across commodity categories and working with various business units throughout the Bank to proactively identify opportunities for enterprise-wide relationship management and commodity specific optimization of spend.
Researches and understands trends within the markets in which they support.
Analytical reporting.
Facilitates the utilization of appropriate analysis methods used in the decisioning process that helps to decipher and determine vendor consideration, selection and performance. e.g Total Cost of Ownership (TCO), commodity or service matrix comparisons, risk profiles and quality considerations.
Assures proper analysis and application of internal and external industry specific research information to determine Bank direction in designated categories including reasons for pricing increases and/or decreases.
Conducts benchmarking, financial and business analytics for long range pricing and buy rationalizations.
Problem resolution, Assist the business unit in problem, cause & solution resolution and to assist where appropriate in solving and or mitigating problems and problems associated with vendors, their services and products.
Understand and have experience in bench market data within the business function.
Special Projects. Special projects and program management as assigned which will include: OCC/Regulator audit, Internal Audit, Coupa CRA, alignment with end-to-end Source to Pay, Diversity and Inclusion activity reporting, and Bank M&A activity.
Ensures compliance with applicable federal, state and local laws and regulations.
Completes all required compliance training.
Maintains knowledge of and adhere to Flagstar’s internal compliance policies and procedures.
Takes responsibility to keep up to date with changing regulations and policies.

Benefits

Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program.

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