Sr. Strategic Sourcing Manager - Banking Industry

Position Title

Sr. Strategic Sourcing Manager - Banking Industry

Location

Nationwide, MI 48098

Job Summary

Responsible for leading and building a best in class Strategic Sourcing function which includes: developing strategy, policies and procedures; leading and directing a team of sourcing/category managers who specialize in one or more categories; establishing category plans for the collective group of spend categories to drive total cost of ownership savings; leading the development and execution of reporting and tracking mechanisms; reporting on sourcing strategies and performance; optimization of the S2P Coupa tool; driving cross-functional category teams in change management and supply/service continuity; defining procurement requirements, SLAs/KPIs,and operational needs;
Will provide.thought leadership and overall direction to the company with regards to its suppliers with the effective utilization of Strategic Sourcing, Procurement and Contract Management. Charged with setting the strategic vision and direction of Strategic Supply Management in support of and alignment with Bank objectives. Will have a keen focus on effectively managing third-party risk through a consistently applied and sound managed sourcing/contracting process, effective contracts and corporate governance and controls. Is expected to have a broad organizational impact in identifying key process needs and address changes needed to effectively support company strategies to manage consumption and demand in the context of controlling expenses for over $500 million in third-party spend.

140,621.69 -186,323.74 -232,025.80Pay Range: Local Minimum Wage - $0.00 - $0.00

Job Responsibilities:

• Work with key business partners and senior leadership to understand strategic direction, supply requirements and corporate business objectives and priorities. Drive thought leadership in categories providing market and industry intelligence, innovation and best practices to include negotiating & managing contracts. This position is responsible for the strategic sourcing of vendors by identifying vendors for bidding procedures to drive the best possible commercial outcome for the Bank and for negotiations when single-sourced opportunities require negotiation. This includes comparing vendor proposals to industry benchmarks and assisting the business unit in producing market studies to justify price and vendor selection. Plans, develops, directs, and implements complex business strategies through the establishment of short/long-range objectives, change management, performance goals, and metrics for each spend category. Collaborates with Operations, Legal, TPRM/SMEs, Tax, Finance, the Business Units, and other stakeholders as needed to champion enterprise wide cross-functional sourcing initiatives.
• Identifying savings opportunities. Is responsible for optimizing committed spends on behalf of the company by directing spend analysis across commodity categories and working with various business units throughout the Bank to proactively identify opportunities for enterprise-wide relationship management and commodity specific optimization of spend.
• Analytical reporting. Lead the utilization of appropriate analysis methods used in the decisioning process that helps to decipher and determine vendor consideration, selection and performance. e.g. Total Cost of Ownership (TCO), commodity or service matrix comparisons, risk profiles and quality considerations. Assures proper analysis and application of internal and external industry specific research information to determine Bank direction in designated categories including reasons for pricing increases and/or decreases. Conducts benchmarking, financial and business analytics for long range pricing and buy rationalizations.
• Problem resolution, Assist the business unit in problem, cause & solution resolution and to assist where appropriate in solving and or mitigating problems and problems associated with vendors, their services and products.
• Policy and Process. Policy and Process build and maintenance to align with and support compliance with regulatory requirements and guidelines (OCC, FFIEC, FDIC, etc.) and internal Bank policies and procedures, Coupa system optimization, controls and data quality assurance, and maintenance of procedures, desk guides, reporting and training/presentation materials as needed.
• Special Projects. Special projects and program management as assigned which will include: OCC/Regulator audit, Internal Audit, Coupa CRA, alignment with end-to-end Source to Pay, Diversity and Inclusion activity reporting, and Bank M&A activity.
• Team Professional Development. Supports the talent development of inter-departmental team members and the overall development of cross-functional teams. Supports team member professional development and the overall professional enhancement of the function. Sets the example and conducts training sessions for negotiations, financial reviews, business analytics and general management. Establishes and trains staff on methodologies for strategic sourcing, change management, contract reviews and individual development.
• Ensures compliance with applicable federal, state and local laws and regulations. Completes all required compliance training. Maintains knowledge of and adhere to Flagstar’s internal compliance policies and procedures. Takes responsibility to keep up to date with changing regulations and policies.

Job Requirements:

• High School Diploma, GED, or foreign equivalent required.
• Bachelor’s Degree Preferred in Supply Chain Management, Accounting, Finance, or Business Administration.
• 10 - 15+ years experience in supply chain management, contract negotiation, vendor management, and third-party management within a highly regulated environment for large scale financial/banking, mortgage origination/servicing organizations.
• Ability to productively interact with internal and external levels of management that will include: senior bank officers, vendor account relationship managers, FSB senior and executive level individuals, and/or vendor principles and ownership.
• Ability to work with key business partners and senior leadership to understand strategic direction, supply requirements and corporate business objectives and priorities. Drive thought leadership across all Bank vendor spend and categories providing market and industry intelligence, innovation and best practices.
• Ability to deliver consistent delivery of positive results to ensure strategic direction, operational, regulatory compliance, risk, cost and quality goals are achieved.
• Strong working knowledge and experience with OCC, FFIEC and/or other regulatory guidelines and requirements
• Strong understanding and experience in highly effective supplier/third party management activities: 6- or 7-step Strategic Sourcing process including market analysis, supplier identification, selection, negotiation, contracting, risk management, relationship management, financial management, performance management and contract management.
• Ability to use best judgment and discretion in solving issues and/or satisfying overall Bank together with stakeholder needs when corporate policy and procedures appear absent or silent on the issue(s).
• Analytical and passionate in thinking and building vendor spend and opportunity analyses to drive meaningful cost savings across the Bank.
• Demonstrated capability with excellent verbal and written communication skills, project management, strong analytical and problem-solving skills, multi-tasking in a fast-paced environment and general leadership/management skills.
• Self-motivated, takes initiative and has the ability to effectively organize, multi-task, and prioritize a wide-array of initiatives and consistently deliver timely results.
• Proficient to advanced skills with Excel, Word, PowerPoint and Outlook.
• High integrity and ethics.

Flagstar is an Equal Opportunity Employer

Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. Please click the following link for detailed information: Benefits | Flagstar Bank

Qualified applicants with arrest or conviction records will be considered for employment in accordance with the California Fair Chance Act, the Los Angeles County Fair Chance Ordinance, the City of Los Angeles Fair Chance Initiative for Hiring Ordinance, and the San Francisco Fair Chance Ordinance, as appliable.

Originally posted on Himalayas