Sourcing and Procurement Analyst

Job Title: Sourcing and Procurement Analyst

Location: Newport News, Virginia, United States

US Citizens only.

Position Summary:

Rockwoods is seeking a Sourcing and Procurement Analyst who support the credit union’s procurement function by managing vendor relationships, negotiating contracts, and ensuring compliance with regulatory and organizational standards. This role focuses on sourcing and contracting for both business services and technology solutions, enabling the credit union to achieve operational efficiency, cost savings, and risk mitigation.

Key Responsibilities:

• Contract Management: Draft, review, and negotiate contracts for business services and technology solutions. Ensure contracts align with credit union policies, regulatory requirements, and risk management frameworks. Maintain a centralized repository of contracts and track key milestones (renewals, expirations, compliance obligations).
• Vendor Sourcing & Evaluation: Identify, evaluate, and onboard vendors for business and technology needs. Conduct market research and competitive analysis to support vendor selection. Collaborate with stakeholders to define requirements and assess vendor capabilities.
• Procurement Operations: Execute procurement processes including RFPs, RFQs, and vendor bids. Support cost optimization initiatives through strategic sourcing and negotiation. Monitor vendor performance against SLAs and KPIs.
• Risk & Compliance: Partner with Legal, Risk, and Compliance teams to ensure contracts meet regulatory standards (e.g., data privacy, cybersecurity, financial regulations). Identify and mitigate risks in vendor engagements, particularly for technology platforms and critical business services.
• Stakeholder Collaboration: Work closely with IT, Finance, and Business Operations teams to align procurement strategies with organizational goals. Provide reporting and insights to leadership on vendor spend, contract status, and sourcing opportunities.

Qualifications:

• Bachelor’s degree in Business Administration, Finance, Supply Chain Management, or related field.
• 3–5 years of experience in procurement, sourcing, or contract management (preferably in financial services or regulated industries).
• Strong knowledge of contract law, vendor management practices, and procurement processes.
• Familiarity with technology procurement (software licensing, SaaS agreements, IT services).
• Excellent negotiation, analytical, and communication skills.
• Proficiency in procurement tools, contract lifecycle management systems, and MS Office Suite.

Preferred Skills:

• Experience in credit union or financial services procurement.
• Knowledge of regulatory frameworks (e.g., NCUA, FFIEC, GDPR, PCI-DSS).
• Ability to create visual frameworks (decision matrices, risk models) for executive reporting.
• Strong stakeholder management and cross-functional collaboration skills.