Sourcing Manager

About the role

This position sources, procures, and provides business support for cost-effective products and services from vendors for the Bank's internal clients. Delivers outstanding client service while fostering collaborative relationships. Provides innovative, timely, and accurate solutions aligned to the Bank's risk appetite.

Responsibilities

• Business Support – Develops a strong understanding of existing vendor contracts and services in support of each assigned business owner, establishing the role of trusted advisor.
• Vendor Sourcing – Oversees sourcing events (RFx) conducted in support of business initiatives in order to contract for new products and services.
• Contract Structuring and Negotiation – Structures and negotiates vendor contracts to align with Third Party Risk Management (TPRM) standards and regulatory expectations.
• Relationships – Collaborates with TPRM on new products and services to address inherent risk in contract structuring and negotiation.
• Price Negotiations – Delivers cost savings, price reductions, and cost avoidance opportunities for new and renewed contracts.
• Conducts sourcing events (RFx) for products and services to meet the requirements of Bank business initiatives.
• Structures and negotiates terms and pricing for various services, software, hardware, staffing, consulting, and outsourcing agreements required to support business needs.

Requirements

• Minimum Education and Experience:
  • Bachelor's Degree and 8 years' experience, or
  • High School Diploma or GED/Equivalent and 12 years' experience in contract structuring and negotiation for services, software, staffing, software as a service, consulting, and outsourcing services contracts.
• Preferred Qualifications:
  • Significant experience redlining and negotiating agreements for various services.
  • Relationship management.
  • Knowledge of supply base and sourcing business practices specific to financial services.
  • Bachelor's Degree.
  • Certified Regulatory Vendor Program Manager (CRVPM), Member of Contract and Commercial Management certification by the International Association for Contract and Commercial Management (IACCM), or Certified Professional in Supply Management (CPSM).

Benefits

First Citizens Bank is committed to providing a competitive, thoughtfully designed, and quality benefits program. More information can be found at https://jobs.firstcitizens.com/benefits.