What are the responsibilities and job description for the Strategic Sourcing Consultant position at wellsfargo?
Title: Strategic Sourcing Consultant
Location: 550 S 4th St, Minneapolis, MN
Additional Location: Charlotte, NC
Duration: 12 months
Work Engagement: W2
Work Schedule: 3 days in office/2 days remote
Benefits on offer for this contract position: Health Insurance, Life insurance, 401K and Voluntary Benefits
Summary:
We are seeking a Strategic Sourcing Consultant to lead complex contract negotiations, supplier relationship management, and sourcing initiatives with significant business impact. This role will partner closely with business, legal, and procurement stakeholders to develop sourcing strategies, mitigate contractual risks, optimize costs, and ensure compliance with corporate and regulatory requirements.
The ideal candidate will have strong expertise in contract drafting, negotiation, financial analysis, supplier management, and technology-related agreements, with the ability to navigate high-risk and high-value engagements.
Responsibilities:
Contract Negotiation & Risk Management
Lead complex contract negotiations and manage supplier relationships involving high-risk or high-impact engagements.
Draft, review, interpret, and negotiate contract terms and conditions.
Analyze proposed contract language, identify contractual risks, and develop strategies to mitigate risk exposure.
Customize legal contract language to proactively address technology, market, regulatory, and business considerations.
Develop and execute negotiation strategies to achieve favorable commercial and contractual outcomes.
Support mergers, acquisitions, and other strategic initiatives through contract review, negotiation reassignment, and closing agreement support.
Resolve vendor disputes and provide guidance on contract-related matters.
Strategic Sourcing & Supplier Management
Develop sourcing strategies based on business requirements, market conditions, and organizational objectives.
Manage supplier relationships throughout the supplier lifecycle with a focus on cost reduction, service improvement, risk management, and business value creation.
Establish and support strategic sourcing initiatives that improve category effectiveness and operational efficiency.
Act as a central point of coordination for sourcing efforts across multiple business functions.
Partner with business units to issue, evaluate, and manage Request for Proposals (RFPs).
Financial & Business Analysis
Evaluate pricing proposals and perform financial analysis to support sourcing and negotiation decisions.
Identify opportunities for cost savings, commercial improvements, and supplier performance enhancements.
Support procurement and e-business initiatives, including procure-to-pay process improvements and sourcing optimization efforts.
Compliance & Leadership
Lead projects focused on legal, regulatory, and corporate compliance requirements.
Ensure agreements incorporate applicable corporate policies and standards.
Educate Contract Analysts and business partners on contract risk, compliance, and negotiation best practices.
Provide mentoring, guidance, and direction to less experienced staff.
Build and maintain strong relationships with executive leadership, suppliers, manufacturers, lessors, and other key stakeholders.
Qualifications:
Applicants must be authorized to work for ANY employer in the U.S. This position is not eligible for visa sponsorship.
Strong experience in contract interpretation, drafting, review, and negotiation.
Ability to gather and analyze business requirements and recommend effective sourcing strategies.
Experience performing financial analysis of supplier pricing proposals and commercial models.
Proven ability to identify contractual, legal, and business risks and recommend mitigation strategies.
Experience managing supplier relationships and leading sourcing initiatives.
Intermediate proficiency with Microsoft Office applications, including Word and Excel.
Strong interpersonal, verbal, written, and presentation skills.
Ability to manage multiple priorities and projects in a fast-paced environment.
Experience negotiating and managing software licensing agreements, including both on-premise and vendor-hosted solutions.
Experience supporting contracts related to Artificial Intelligence (AI) technologies and services.
Experience negotiating software license renewals and related commercial terms.
Experience negotiating agreements on behalf of highly regulated organizations such as financial services, healthcare, or similar industries.
Juris Doctor (JD) degree and/or sourcing, procurement, or contract management certification. (preferred)
Experience partnering with legal, compliance, procurement, and technology stakeholders.