Director - Strategic Sourcing

Location: Troy, MI 48098

About the role

Responsible for leading and building best-in-class strategic sourcing category support, including developing strategy, directing teams, establishing category plans to drive total cost of ownership savings, risk mitigation, and leading the development and execution of reporting and tracking mechanisms. Provides thought leadership and overall direction to Sourcing teams regarding suppliers with effective utilization of Strategic Sourcing, Procurement, and Contract Management. Charged with implementing the strategic vision and direction of Strategic Supply Management in alignment with Bank objectives, with a focus on managing third-party risk through sound sourcing, contracting processes, effective contracts, and corporate governance. Expected to drive broad organizational impact by identifying key process needs and addressing changes to support company strategies for managing consumption, demand, and expenses across tens to hundreds of millions in third-party spend.

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 by providing market and industry intelligence, innovation, and best practices, including negotiating and managing contracts.
• Lead the strategic sourcing of vendors, identifying vendors for bidding procedures to achieve the best commercial outcomes for the Bank, including negotiations for single-sourced opportunities.
• Compare vendor proposals to industry benchmarks and assist business units in producing market studies to justify price and vendor selection.
• Plan, develop, direct, and implement complex business strategies through short/long-range objectives, change management, performance goals, and metrics for each spend category.
• Collaborate with Operations, Legal, TPM/SMEs, Tax, Finance, Business Units, and other stakeholders to champion enterprise-wide cross-functional sourcing initiatives.
• Optimize committed spends by directing spend analysis across commodity categories and proactively identifying opportunities for enterprise-wide relationship management and spend optimization.
• Lead the utilization of analysis methods (e.g., Total Cost of Ownership, commodity/service matrix comparisons, risk profiles) to support vendor selection and performance decisions.
• Conduct benchmarking, financial, and business analytics for long-range pricing and buy rationalizations.
• Assist business units in problem resolution related to vendors, services, and products.
• Manage special projects, including OCC/Regulator audits, Internal Audit, Coupa CRA, alignment with end-to-end Source-to-Pay, Diversity and Inclusion activity reporting, and Bank M&A activity.
• Oversee talent management functions, including employment, performance evaluations, staff development/training, disciplinary actions, succession planning, and compliance requirements.
• Perform additional duties and responsibilities as required, adhering to regulatory and compliance policies.

Requirements

• Undergraduate Degree (4 years or equivalent) in Supply Chain Management, Finance, Accounting, Business Administration, or a related field.
• 10+ years of experience in supply chain management, contract negotiation, vendor management, and third-party management within a highly regulated environment (e.g., large-scale financial/banking, mortgage origination/servicing organizations).
• Deep category knowledge and experience in Technology, Banking Services, and/or Enterprise Support (including Risk, Finance, and Facilities/Corporate Real Estate).

Qualifications

• Strong working knowledge and experience with OCC, FFIEC, FRB, and/or other regulatory guidelines and requirements.
• Experience with the 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.
• Experience with Coupa or other Contract Lifecycle Management, Sourcing, Procurement, and/or ERP-related systems and tools.
• Proficient to advanced skills in Excel, Word, PowerPoint, and Outlook.
• Ability to interact productively with internal and external stakeholders, including Bank officers, vendor account managers, senior/executive leadership, and vendor principals.
• Strong analytical, problem-solving, project management, and leadership skills, with the ability to multitask in a fast-paced environment.
• Excellent verbal and written communication skills, with a demonstrated ability to build and maintain effective relationships.
• Self-motivated, proactive, and able to organize, prioritize, and deliver timely results.
• Ethical behavior, high personal standards, and a strong work ethic, with a commitment to treating others with respect and understanding.
• Ability to foster a positive work culture and productive environment, aligning relationship-building efforts with enterprise goals.

Travel

Up to 20% travel may be required.

Physical Demands

The job requires a moderate degree of physical exertion and stamina, such as standing, sitting, walking, driving, or infrequent lifting.

Pay

Pay Range: $144,417.75 - $249,268.00

Benefits

Flagstar provides teammates access to a variety of benefits, including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. For detailed information, visit Benefits | Flagstar Bank.