Strategic Sourcing Manager

U.S. Bank • Minneapolis, MN

5d • Hybrid

About The Position

Responsible for development and execution of sourcing and vendor management strategies for assigned spend categories and supplier portfolios. Performs strategic and tactical planning for sourcing initiatives, spend management activities, and vendor selection efforts. Leads competitive sourcing events, evaluates supplier capabilities and commercial proposals, analyzes pricing and market data, and negotiates contracts and business terms with medium to large suppliers. Partners with business line stakeholders to define requirements, mitigate risk, optimize supplier relationships, and deliver value through effective sourcing and negotiation strategies. Prepares management reporting and recommendations to support sourcing decisions and supplier investment strategies. Additional responsibilities: Negotiates to optimize client’s budget and other financial responsibilities; Performs sourcing and planning; Reviews business standards for vendor performance; Coordinates activities related to anticipating, negotiating, and executing the managed contracts; Assists with contractual negotiation activities to ensure quality and compliance with contract procedures and standards; Collaborates with business line clients to establish plans, standards, and procedures that will add value to strategic vendor relationships and mitigates any risks to the company; Successful applicants will exemplify US Bank's ethical principles of uncompromising integrity, respect for others, accountability for decisions and actions, and good citizenship.

Requirements

• High school diploma or equivalent
• Six or more years of experience with design, development and utilization of formal IT vendor contracts with internal or external customers

Nice To Haves

• Experience with design, development and utilization of formal IT vendor contracts with internal or external customers
• Experience with tools, facilities and techniques for managing and administering data
• Experience with the management of suppliers to agreed contractual services

Responsibilities

• Development and execution of sourcing and vendor management strategies for assigned spend categories and supplier portfolios.
• Strategic and tactical planning for sourcing initiatives, spend management activities, and vendor selection efforts.
• Leading competitive sourcing events.
• Evaluating supplier capabilities and commercial proposals.
• Analyzing pricing and market data.
• Negotiating contracts and business terms with medium to large suppliers.
• Partnering with business line stakeholders to define requirements, mitigate risk, optimize supplier relationships, and deliver value through effective sourcing and negotiation strategies.
• Preparing management reporting and recommendations to support sourcing decisions and supplier investment strategies.
• Negotiating to optimize client’s budget and other financial responsibilities.
• Performing sourcing and planning.
• Reviewing business standards for vendor performance.
• Coordinating activities related to anticipating, negotiating, and executing the managed contracts.
• Assisting with contractual negotiation activities to ensure quality and compliance with contract procedures and standards.
• Collaborating with business line clients to establish plans, standards, and procedures that will add value to strategic vendor relationships and mitigates any risks to the company.

Benefits

• Healthcare (medical, dental, vision)
• Basic term and optional term life insurance
• Short-term and long-term disability
• Pregnancy disability and parental leave
• 401(k) and employer-funded retirement plan
• Paid vacation (from two to five weeks depending on salary grade and tenure)
• Up to 11 paid holiday opportunities
• Adoption assistance
• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: High school or GED