What are the responsibilities and job description for the Sourcing Manager (Contract Negotiator) position at Edward Jones?
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Responsibility Summary:
The Sourcing Manager is an individual contributor responsible for negotiating supplier contracts on behalf of business units, with a primary focus on medium-to-high value and moderately complex sourcing initiatives. This particular role will work primarily on professional services efforts across the firm, including areas like contingent workforce, delivery and implementation work, consulting, managed services, and business process outsourcing. Negotiations include contract terms (e.g., Indemnification, Limitation on Liability, Confidentiality provisions) and pricing. This role partners with business units to understand strategic goals and supports projects requiring supplier relationships. The Sourcing Manager must possess strong analytical and systems-thinking capabilities to identify, communicate, and implement supply-base opportunities that achieve cost savings, cost avoidance, and risk mitigation strategies. This role requires building relationships within cross-functional teams, effective communication, and strategic planning to influence leadership and drive sourcing initiatives forward.
In this role, the Sourcing Manager must:
Contribute to the department goal of $100M in Savings/Cost Avoidance.
Lead multiple, concurrent sourcing initiatives including strategy, supplier selection, market intelligence, and contract execution.
Lead the negotiation of complex commercial and contractual terms with executives and legal representatives.
Direct Senior Leaders towards the best purchasing decision by balancing solution cost with business requirements.
Support the talent development of the Sourcing team by mentoring Buyers and Sourcing Specialists while sharing knowledge, experience, and leading practices across Divisions
Execute on defined objectives aligned to Sourcing Strategies through the development and distribution of RFx's (RFI, RFQ, RFP), vendor communication, development of vendor selection criteria, and collaboration with cross-functional teams including business owners and legal.
Maintain accurate records and data within the contract management system and other related sourcing tools
Use procurement tools and systems to create operational efficiency and visibility across the enterprise
Identify and pursue ad hoc opportunities to reduce product/service costs and support the implementation of operational improvement initiatives
Assess pricing using analytics and benchmarking to ensure competitive outcomes.
Develop strong relationships with business partners to ensure early visibility into upcoming sourcing needs.
Champion process improvements and provide feedback on impact.
- Bachelor's degree required; Master's degree in Business, Law, Information Systems, or Supply Chain Management preferred.
- Minimum of 8 years related work experience, preferably involving negotiation and contracts.
- Understanding of supply chain management concepts and procedures.
- Knowledge of legal, contracting, third party risk environments.
- Ability to communicate complex cost models, risk, and business concepts at executive levels.
- Strong people and project management skills; ability to influence without authority.
- Demonstrated ability to collaborate across divisions and communicate upward effectively.
Ability to collaborate with leadership to understand strategic impact and assess risk. Independently close negotiations with optimal outcomes, interpret legal documents, and develop creative solutions. Provide guidance to junior team members when complex issues arise.
Decision Making:
High level of autonomy in managing sourcing initiatives. Responsible for strategic decisions impacting firm earnings, balancing business needs with legal and regulatory risk. Leads multiple initiatives concurrently.
Span of Influence:
Influences supplier and product recommendations impacting the entire firm, including branch offices. Acts as a subject matter expert, consulting on contract formation and negotiation strategy. Regularly interacts with senior leaders, legal, and supplier executives.
Candidates that live within a commutable distance from our Tempe, AZ and St. Louis, MO home office locations are expected to work in the office four days per week.
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Edward Jones does not discriminate on the basis of race, color, gender, religion, national origin, age, disability, sexual orientation, pregnancy, veteran status, genetic information or any other basis prohibited by applicable law.
Qualified applicants with arrest or conviction records will be considered for employment in accordance with the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act. Edward Jones is prohibited from hiring individuals with certain specified criminal history as set forth in Section 3(a)(39) and 15(b)(4) and Rule 17a-3(a)(12) of the Securities and Exchange Act of 1934, and conducts background reviews consistent with FINRA Rule 3110(e). A copy of a notice regarding the provisions of the Los Angeles County Fair Chance Ordinance is available at: dcba.lacounty.gov/wp-content/uploads/2024/08/FCOE-Official-Notice-Eng-Final-8.30.2024.pdf.