Procurement Sourcing Category Strategist

About the role

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

Primary Responsibilities

• Uses a strategic sourcing approach to determine and prepare RFPs/competitive bid requirements, solicits responses, analyzes responses, prepares recommendations, 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 RFPs in the bank's P2P system, executes RFPs/competitive bids 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 IT 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 a 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
• Other relevant procurement experience

Pay and Benefits

The target salary range for this position is $104,869.60 USD to $143,010.00 USD. Benefits include 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, and more. For more information, visit this link.