Senior Manager - Strategic Sourcing
About the role
The Senior Manager - Strategic Sourcing leads the organization’s procurement, sourcing, and accounts payable (AP) functions to ensure strong financial stewardship, operational efficiency, and risk-aware vendor relationships. This role oversees the end-to-end sourcing and purchasing lifecycle, while also ensuring timely, accurate, and well-controlled vendor payments. The position leads and develops a team of vendor managers and procurement and AP professionals, aligning people, processes, and supplier strategy to deliver cost optimization, service excellence, regulatory compliance, and strong internal controls. The position partners closely with Finance, Risk Management, Legal, IT, Compliance, and business leaders to ensure vendors meet credit union standards for security, performance, resilience, and value.
Responsibilities
Develop, coach, and lead an effective, high-performance procurement and AP team
Set clear performance expectations and foster a culture of accountability and continuous improvement
Partner with Finance, Risk, Legal, IT, and business units to align sourcing and payment activities with enterprise strategy
Present procurement and AP insights, risks, and opportunities to leadership
Develop and execute enterprise sourcing and procurement strategies aligned with organizational goals
Lead competitive sourcing initiatives (RFPs, RFIs, RFQs) to secure best-value solutions
Oversee contract negotiations, including pricing, service levels, risk provisions, and termination terms
Partner with business owners to define requirements and ensure sourcing decisions meet operational needs
Establish category management, spend analytics, and savings tracking
Continuously assess vendor market trends and benchmark supplier performance to ensure ongoing alignment with market and business expectations
Standardize procurement workflows, approval thresholds, and documentation
Promote ethical procurement practices and adherence to delegation-of-authority policies
Oversee end-to-end AP operations, including invoice intake, approvals, disbursements, reconciliations, and vendor inquiries
Ensure strong internal controls, segregation of duties, and audit readiness
Drive AP process optimization, automation, and electronic payments
Monitor AP metrics (aging, cycle time, exception rates, discount capture)
Enablement
Collaborate with vendor management and risk partners to support vendor onboarding, performance monitoring, and contract compliance
Support service performance reviews and vendor scorecards
Identify and escalate vendor-related financial, operational, or compliance risks
Contribute to continuous improvement of vendor and procurement governance practices
Governance, Compliance & Controls
Maintain policies, procedures, and documentation for procurement and AP processes
Ensure compliance with internal policies, regulatory expectations, and audit requirements
Support the organization’s Three Lines of Defense model through strong first-line ownership
Drive maturity in sourcing, procurement, and payment controls
Other
Adhere to all company policies, procedures and business ethics codes
Complete required regulatory training as assigned
Maintain strict adherence and compliance to all laws, rules, regulations and internal controls specific to your role, including but not limited to Bank Secrecy Act, Anti-Money Laundering, USA Patriot Act, OFAC and Fair Lending regulations
Requirements
Bachelor’s degree in Supply Chain, Business Administration, Finance, or a related field
7+ years of experience in strategic sourcing, procurement, supply chain, or vendor management
Experience in financial services, credit unions, banking, or a regulated industry
5+ years of formal or informal management and leadership experience developing and/or leading teams required
Understanding of third-party risk management requirements (NCUA 12 CFR Part 748, FFIEC, SOC reports, cybersecurity standards)
Proficiency with procurement or vendor management tools; comfort working with Finance, IT, and Risk teams
Preferred
8-10+ years of progressive sourcing experience including leadership of complex initiatives may be considered at the Senior Manager level based on scope of the role and responsibilities
Experience sourcing technology solutions such as digital banking, lending platforms, payments systems, cybersecurity tools, or data/analytics solutions
Experience managing vendor scorecards, KPIs, and service-level frameworks
Knowledge of credit union operating models, cooperative principles, and member-focused service culture