Senior Manager, Category Management and Sourcing

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JOB FUNCTION / SUMMARY:

This role will lead the procurement team in strategic sourcing initiatives and supplier relationship management and will play a critical role in optimizing procurement processes, reducing costs, and ensuring the timely delivery of high-quality goods and services.

ESSENTIAL DUTIES & RESPONSIBILITIES:

• Develop and implement category management strategies for key procurement categories, including but not limited to banking, IT, and professional services.
• Lead cross-functional teams to conduct market analysis, identify sourcing opportunities, and develop sourcing plans that align with business objectives and regulatory requirements.
• Manage the end-to-end sourcing process, including supplier identification, request for proposal (RFP) development, bid evaluation, negotiation, and contract award.
• Cultivate and maintain strategic relationships with suppliers, ensuring alignment with bank objectives, contractual compliance, and performance excellence.
• Collaborate with internal stakeholders to understand their procurement needs and requirements, providing guidance and support throughout the procurement lifecycle.
• Monitor supplier performance against key performance indicators (KPIs), identifying areas for improvement and implementing corrective actions as needed.
• Stay abreast of industry trends, regulatory changes, and best practices in procurement and sourcing, leveraging insights to enhance procurement strategies and processes.
• Develop and implement policies, procedures, and controls to ensure compliance with regulatory requirements and internal policies related to procurement and vendor management.
• Provide leadership and mentorship to procurement team members, fostering a culture of continuous improvement and professional development.
  
  

SUPERVISORY RESPONSIBILITIES:

Responsible for the overall direction, coordination and evaluation of a team of associates, carries out supervisory responsibilities in accordance with the organization's policies and applicable laws; Responsibilities include interviewing, hiring, and training associates; planning, assigning, and directing work; appraising performance; rewarding associates and enforcing policy and procedure; addressing complaints and resolving problems.

MINIMUM REQUIRED EDUCATION, EXPERIENCE & KNOWLEDGE:

• Bachelor's degree in business administration, finance, supply chain management, or a related field; Master's degree preferred.
• Minimum of 8 years of experience in procurement, strategic sourcing, or vendor management, including leading and managing people
• Strong understanding of procurement principles, practices, and regulations, particularly in the financial services industry.
• Proven track record of success in developing and executing category management strategies that drive cost savings and value creation.
• Excellent negotiation and contract management skills, with the ability to influence stakeholders and drive favorable outcomes.
• Strong analytical and problem-solving abilities, with the capacity to analyze data and make data-driven decisions.
• Excellent communication and interpersonal skills, with the ability to build effective relationships with internal and external stakeholders.
• Demonstrated leadership abilities, including the ability to lead cross-functional teams and drive results in a dynamic environment.
  
  

ESSENTIAL MENTAL & PHYSICAL REQUIREMENTS:

• Ability to work under stress and meet deadlines
• Ability to lift/move/carry approximately 20 pounds if required to perform the essential job functions. If the employee is unable to lift/move/carry this weight and can be accommodated without causing the department/division an “undue hardship” then the employee must be accommodated; hence omitting lifting/moving/carrying as a physical requirement.
  
  

Equal Opportunity/Affirmative Action Employers. All qualified applicants will receive consideration for employment without regard to race, color, religious beliefs, national origin, ancestry, citizenship, sex, gender, sexual orientation, gender identity, marital status, age, physical or mental disability or history of disability, genetic information, status as a protected veteran, disabled veteran, or other protected characteristics as required by federal, state and local laws.