Procurement Sourcing Category Strategist

About the role

The Procurement Sourcing Category Strategist position at Regions is responsible for managing larger, more complex sourcing initiatives within a cross-functional team. This role involves leading expense reduction efforts and associated vendor-related engagements for business units or strategic categories.

Responsibilities

• Uses a strategic sourcing approach to determine and prepare request for proposals (RFP)/competitive bid requirements, solicits responses, analyzes responses, prepares recommendation, and negotiates contracts to enhance efficiencies and reduce costs.
• Executes the bank's competitive bidding process and leads strategic sourcing activities for assigned areas.
• Develops cross-functional teams and business objectives; identifies bidding suppliers, sets up the RFP in the bank's P2P system, executes the RFP/competitive bid with suppliers, and works with business stakeholders to develop recommendations.
• Partners with key stakeholders and senior leaders to identify expense reduction opportunities related to suppliers.
• Analyzes market industry conditions and develops plans to procure goods not related to information technology vendors.
• Communicates corporate procurement standards to vendors and business partners.
• Completes and executes RFPs and/or contracts that meet the company's business and legal requirements.
• Offers advice and guidance to junior consultants, assisting in the development of necessary skills and promoting continuous improvement initiatives.
• May serve as team lead or supervise entry-level procurement consultants.
• Partners with Procurement Strategic Sourcing Technology Consultant on projects.

Requirements

• Bachelor’s degree in Business, Supply Chain/Engineering, Procurement, or related field and seven (7) years of experience in procurement or related field.
• Or High School Diploma or GED and eleven (11) years of experience in procurement or related field.

Preferences

• Professional certification in Supply Chain, Procurement, or related field.
• Master of Business Administration (MBA) or related degree.

Skills and Competencies

• Ability to lead associates to desired outcomes through influence and buy-in.
• Ability to learn additional systems as needed.
• Ability to research, analyze data, and derive facts.
• Ability to work in a team environment when applicable.
• Ability to work under pressure and meet deadlines.
• Demonstrated ability to execute RFPs and/or competitive bids.
• Demonstrated ability to negotiate with suppliers and internal customers to maximize value, ensure standardization, successfully resolve disputes, and drive optimal outcomes.
• Demonstrated negotiation skills.
• Developed relationship-building skills.
• Proficiency in Microsoft Office (Excel, Word, PowerPoint, Outlook, etc.).
• Strong verbal, written communication, and organizational skills.
• Strong work ethic and self-motivation.

Preferred Procurement Experience

• Corporate / Consumer Banking
• Wealth Management
• Treasury Management
• Enterprise Payments
• Corporate / Consumer Banking

Pay and Benefits

This position is exempt from timekeeping requirements under the Fair Labor Standards Act and is not eligible for overtime pay. This position is incentive eligible. The target information listed below is based on the Metropolitan Statistical Area Market Range for where the position is located and level of the position. Minimum Job Range Target: $104,869.60 USD Median $143,010.00 USD Incentive Pay Plans This role is eligible to participate in the annual discretionary incentive plan. Employees are eligible to receive a discretionary award based on individual, business, and/or company performance. Opportunity to participate in the Long Term Incentive Plan. Benefits Information Regions offers a benefits package that is flexible, comprehensive and recognizes that "one size does not fit all" for benefits-eligible associates. Listed below is a synopsis of the benefits offered by Regions for informational purposes, which is not intended to be a complete summary of plan terms and conditions. Paid Vacation/Sick Time 401K with Company Match Medical, Dental and Vision Benefits Disability Benefits Health Savings Account Flexible Spending Account Life Insurance Parental Leave Employee Assistance Program Associate Volunteer Program

Location

Regions Center Location: Birmingham, Alabama

Equal Opportunity Employer

Regions is an equal opportunity employer including disabled/veterans.