Senior Analyst, Sourcing

About the role

The scope of the role encompasses acquisition, structuring, and negotiation of third-party contracts for goods and services for the Bancorp. The position provides sourcing expertise and leadership for moderate to low-risk Bancorp sourcing projects for contracts and/or moderate to low spend. The role involves guiding business line managers and risk managers to minimize and manage risks associated with third-party relationships. The position supports the Sr. Strategist in driving a category strategy that enables the Bancorp to support customer relationships where the Bancorp is the third-party service provider.

Responsibilities

• Create and maintain supplier profiles.
• Support Sr. Strategist on designated categories.
• Execute all moderate risk/low spend, low risk/moderate spend, and low risk/low spend projects/contracts.
• Manage existing opportunity or contract renewals, including execution of all contract renewals, addendums, and amendments assigned by Sr. Strategist regardless of spend or risk level.
• Execute contracts for maintenance renewals.
• Adhere to Sourcing Council Process for assigned projects.
• Serve as second signature authority for contracts; manage the review process for service provider relationships impacting the Bancorp’s Sarbanes-Oxley compliance.
• Apply knowledge of best practices related to risks associated with outsourcing and third-party service provider relationships.
• Support business lines and cross-functional teams in formulating business requirements to achieve strategic and tactical goals.
• Assist business managers and legal in negotiating terms and conditions to mitigate identified risks.
• Assist lines of business with the review and monitoring process to ensure compliance with the OSP Policy.
• Execute sourcing strategies and support cross-functional teams of business line experts, subject matter experts, and sourcing professionals.
• Coordinate BSP requests and reviews as necessary.
• Ensure contracts, goals, and objectives are aligned with Bancorp objectives.
• Develop relationships with key stakeholders to identify current and future business requirements and strategies for third-party service provider arrangements.
• Manage sourcing events including needs analysis, market analysis, competitive intelligence, RFI and RFP development, cost and proposal analysis, contract negotiation, deal structuring to minimize risk, and assistance in developing an effective implementation plan.
• Continually maintain knowledge of market and industry trends and best practices.
• Lead negotiations for service provider agreements and other partnering arrangements.
• Finalize contracts and develop communication, transition, and implementation plans.
• Network externally with industry and international experts to facilitate effective strategic intelligence.

Supervisory Responsibilities

• Responsible for developing the appropriate talent pool for succession planning.
• Proficient at coaching, developing, and motivating others.

Requirements

• Bachelor’s degree or equivalent preferred.
• 4+ years of sourcing or procurement experience.
• Strong knowledge of sourcing methodologies, best practices, negotiations, and business processes.
• Champions new initiatives and removes barriers; encourages out-of-the-box thinking; acts as a catalyst for change and stimulates others to change.
• Actively drives continuous improvement in all aspects of the company.
• Fosters open communication.
• Excels at envisioning the future and shaping strategy.
• Excellent analytical skills.
• Problem-solving and change leadership skills.