Strategic Sourcing Manager

City National Bank • Los Angeles, CA

6d

About The Position

City National Bank is seeking a Strategic Sourcing Manager for its Enterprise Procurement department, supporting business lines and offices across North America. The role leads complex negotiations and contract drafting for commodities and services purchased by the bank, works with internal partners to secure favorable terms and minimize risk, and provides recommendations to executive-level management.

The manager analyzes business plans, spend, supplier, and market data to develop sourcing strategies, identify cost-saving and supply-support opportunities, and contribute to category performance targets. The position leads RFx and supplier audit activities, manages supplier relationships, sourcing agreements, vendor risk, business continuity, and security, and ensures procurement activity follows company policies and procedures. It also develops category expertise, recommends process improvements, prepares strategic sourcing strategies and management reports, and trains and mentors procurement colleagues.

Requirements

• Bachelor's degree or equivalent.
• At least 5 years of Procurement experience.
• At least 2 years of experience working for a bank, financial services company, or indirect Procurement organization.
• Knowledge of negotiation principles and practices, and procurement practices.
• Ability to learn and stay current on industry practices for products and services in assigned categories.
• Experience and skill in contract negotiation, drafting contract terms and conditions, and working with a team to develop negotiation and sourcing strategies.
• Ability to adapt to change and learn new concepts and ideas.
• Good verbal and written communication skills.
• Ability to think systematically and strategically, analyze issues, and develop actionable short- and long-term plans.
• Ability to identify potential problems and opportunities, connect related issues, and consider both detail and the broader picture.
• Ability to develop recommendations and work with Procurement to implement ideas and new approaches to recurring goals and issues.
• Ability to collaborate with business, Legal, Compliance, and other partners to generate effective outcomes and share relevant information with the team.
• Thoroughness in completing tasks, analyses, and projects.
• Ability to manage time and resources effectively.
• Ability to lead a team and manage up.
• Integrity, accountability, decisiveness, adaptability, openness to responsibility for failures, and commitment to team success and win-win business solutions.

Nice To Haves

• Master's degree.

Responsibilities

• Lead mid- to high-level complex negotiations, transactions, and procurement projects.
• Lead negotiations and draft contracts for commodities and services purchased by the bank, working with Legal, Compliance, Finance, business units, and other departments to minimize risk and obtain favorable terms.
• Identify and recommend category sourcing options and partner with stakeholders to implement them.
• Recommend alternate supply strategies to create cost savings or supply-support solutions.
• Analyze business plans, spend data, supplier data, and market data to determine optimal sourcing strategies for businesses, suppliers, and commodities.
• Contribute to category performance targets and participate in or lead competitive RFPs.
• Research and stay current on industry practices for products and services within assigned categories.
• Assist colleagues with interpreting contracts.
• Lead RFx activity.
• Build and foster relationships and partner across internal functions, external suppliers, and colleagues to influence change.
• Manage assigned projects and communicate with stakeholders.
• Ensure compliance with company policies, procedures, standards, and Procurement system requirements in alignment with stakeholder objectives.
• Prepare reports for management as requested.
• Manage supplier involvement and relationships with the Company.
• Manage supplier audit activities and facilitate activities around supplier audits.
• Govern vendor sourcing agreements.
• Manage and mitigate vendor risk, business continuity, and security.
• Act as a liaison with vendors to ensure organizational needs are met.
• Prepare and present strategic sourcing strategies for assigned suppliers or commodities to senior management.
• Develop and maintain market and technical expertise in assigned buy categories and serve as a subject matter expert for assigned commodities.
• Evaluate existing processes and recommend improvements in line with best practices and practical experience.
• Mine spend data to identify cost-saving opportunities.
• Recommend supplier and vendor strategies for existing suppliers and alternatives to leadership.
• Train and mentor other Procurement team members.
• Empower others through motivation, recognition, and performance feedback.
• Participate with management in developing procurement strategies and plans.
• Work at a strategic level and, when requested, perform tactical hands-on work.
• Perform other duties as required.

Benefits

• Comprehensive healthcare coverage, including medical, dental, and vision plans, available the first of the month following the start date.
• Generous 401(k) company matching contribution.
• Tuition reimbursement and other internal upskilling and training resources.
• Vacation, sick, and volunteer time.
• Fertility benefits and cancer, diabetes, and musculoskeletal support programs.
• Career mobility support from a dedicated recruitment team.
• Colleague Resource Groups supporting networking and community engagement.
• Eligibility for bonus and/or commissions.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager