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, utilizing Strategic Sourcing, Procurement, and Contract Management. Implements the strategic vision 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 have a broad organizational impact by identifying key process needs and addressing changes to support company strategies in managing consumption, demand, and expenses for categories representing 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 working with business units to identify opportunities for enterprise-wide relationship management and commodity-specific spend optimization.
• Lead the utilization of appropriate analysis methods (e.g., Total Cost of Ownership, commodity/service matrix comparisons, risk profiles, and quality considerations) to support vendor selection and performance decisions.
• Ensure proper analysis and application of internal and external industry-specific research to determine Bank direction in designated categories, including reasons for pricing fluctuations.
• Conduct benchmarking, financial, and business analytics for long-range pricing and buy rationalizations.
• Assist business units in problem resolution related to vendors, their 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 ensuring compliance with regulatory requirements.
• Perform additional duties and responsibilities as required, adhering to regulatory and compliance policies and standards.

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 for large-scale financial, banking, mortgage origination, or servicing organizations.
• Specific and 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.
• Strong understanding and experience in highly effective supplier/third-party management activities, including the 6- or 7-step Strategic Sourcing process (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 productively interact with internal and external levels of management, including Bank officers, vendor account relationship managers, senior and executive-level individuals, and vendor principals/ownership.
• Demonstrated capability in excellent verbal and written communication, project management, strong analytical and problem-solving skills, and the ability to multi-task in a fast-paced environment.
• Self-motivated, takes initiative, and effectively organizes, multi-tasks, and prioritizes a wide array of initiatives to consistently deliver timely results.
• Strong relationship-building skills, with the ability to align efforts with enterprise goals to accelerate performance and drive strategic results.
• Builds trusted client relationships by identifying needs and delivering tailored solutions to enhance the overall client experience.
• Fosters a positive work culture and productive work environment, emphasizing effective relationships with customers and stakeholders.
• 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