At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.

Job Description

This role has multiple levels, open to candidates with Five or more years of experience in procurement contract administration activities​. The successful candidate will be hired for the level of the position that aligns with their experience.

Responsible for the vendor contracting process including contract negotiating, drafting, review and risk analysis of contract terms and conditions. Ensures vendor contracts are in compliance with applicable state and federal law, rules and regulations as well as U.S. Bank policies. Supports Business Line and Corporate Procurement assigned initiatives by drafting and negotiating the contract terms and conditions as well as advising business lines on risk decisions related to the contract. Job scope and complexity of assignments are broad and very complex. Requires the ability to improvise and respond to contractual language questions, provide creative solutions to resolve conflict with vendors, effectively balance working on multiple projects at one time while successfully meeting tight deadlines.

Additional Responsibilities:

• Advance understanding of legal and regulatory issues to negotiate effectively with third party vendors and meet internal and external compliance requirements; understands and applies the internal contracting policy, third party risk policy, contracting procedures and procurement practices to meet business line needs and able to direct bank employees to tools and practices that support third party contracting.

• Leads individual contract negotiations, communicates effectively and professionally to inform internal subject matter experts of issues presented with analysis and to advise business lines on progression of contract and potential changes to risk profile.

• Works with various levels of the organization including and up to managing committee and senior leadership.

• Navigates supporting applications including Archer Risk Assessment, Agiloft and Sharepoint to find information necessary to negotiations.

• Engages in vendor negotiation with more complex governing agreement negotiations, increased volume of work, able and willing to act as a peer mentor for new employees during onboarding.

• This person is seen as a resource for their understanding and application of policies and procedures and able to explain to business lines the reasoning for a preferred course of action.

• Comfortable taking ownership of more complex issues, able to navigate different areas of the bank to find answers specific to their negotiation and knows when to escalate issues to management, recognizing potential for larger impact.

• Has advanced understanding of the regulations and laws affecting third party contracting, knowledge or the resources and subject matter experts to leverage during negotiations.

• Works with more senior leaders, up to L4 and L5.

• Occasionally leads an amendment or smaller project.

• Comfortable working with ambiguity and determining path forward. Could be assigned 8 strategic vendors, 2 enterprise programs.

• Works on highly complex governing agreements and amendments, including those with enterprise level of $20MM.

• Primary work would include deals involving offshoring, digital, agile, SaaS related agreements.

• This person is considered an expert and advocate for the policies and procedures implications in excess and demonstrates that expertise in finding solutions in difficult or ambiguous scenarios.

• Leads negotiations, problem solves and brings forth solutions or ideas for the entire group. This person exhibits ongoing team engagement and a resource for day-to-day improvements with systems and processes.

• Is a trusted advisor to the BL and the Contract Services team.

• JD required.

Basic Qualifications
- Bachelor's degree, or equivalent work experience
- Five or more years of experience in procurement contract administration activities

Preferred Skills/Experience
- Advanced understanding of applicable laws, regulations, financial services and regulatory trends that impact the assigned business line
- Considerable knowledge of contract structure and terms required to fulfill regulatory obligations
- Excellent problem-solving and negotiation skills
- Ability to identify and resolve/escalate complex problems
- Ability to research and manage multiple projects and deadlines simultaneously
- Strong organizational skills
- Excellent verbal and written communication skills

Location ExpectationsThe role offers a hybrid/flexible schedule, which means there's an in-office expectation of 3 or more days per week and the flexibility to work outside the office location for the other days. 

If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.

Benefits: 

Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following (some may vary based on role, location or hours):

• 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

EEO is the Law

U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors. Applicants can learn more about the company’s status as an equal opportunity employer by viewing the federal KNOW YOUR RIGHTS EEO poster.

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $102,340.00 - $120,400.00 - $132,440.00U.S. Bank accepts applications for this position on an ongoing basis.