Sourcing Manager Professional Services

About the role

The Sourcing Manager, Professional & Consulting Services is responsible for developing and executing sourcing strategies for contingent labor, consulting services, managed service providers (MSP), professional services firms, outsourced services, and specialized advisory engagements. This role drives commercial outcomes while ensuring compliance, supplier performance, and alignment with business objectives. Category ownership includes consulting, professional services, contingent labor, and MSP providers.

Responsibilities

• Develop category strategies for consulting, contingent labor, MSP, and professional services spend.
• Lead sourcing projects from intake through contract execution.
• Conduct market analysis and supplier assessments to improve value and reduce risk.
• Develop sourcing strategies for enterprise-wide consulting and staffing initiatives.
• Negotiate Statements of Work (SOWs), rate cards, master services agreements, staffing contracts, and consulting engagements.
• Ensure commercial terms support budget objectives and financial controls.
• Drive competitive sourcing and benchmarking activities.
• Partner with HR, Technology, Operations, Finance, Legal, Risk, and business leaders.
• Advise stakeholders on sourcing strategies, market conditions, supplier selection, and engagement structures.
• Facilitate sourcing governance reviews and approvals.
• Manage relationships with consulting firms, staffing agencies, MSPs, and professional service providers.
• Conduct regular performance reviews and business reviews.
• Monitor service delivery, spend utilization, and contract compliance.
• Ensure compliance with procurement policies, labor engagement standards, supplier risk requirements, and regulatory expectations.
• Partner with Third-Party Risk, Legal, HR, and Compliance teams to support supplier onboarding and ongoing oversight.
• Manage renewal strategies and contract lifecycle activities.

Requirements

• Cost savings and cost avoidance achieved.
• Improvements in supplier performance and service delivery.
• Reduction in sourcing cycle times.
• Successful renewal outcomes.
• Compliance with procurement and third-party risk requirements.
• Stakeholder satisfaction and adoption of sourcing processes.

Qualifications

• Bachelor's degree in Business, Supply Chain, Human Resources, Finance, or related field.
• 5+ years of procurement, sourcing, category management, staffing, or consulting procurement experience.
• Demonstrated experience negotiating consulting, professional services, contingent labor, and MSP agreements.
• Strong analytical, negotiation, and stakeholder management skills.
• Preferred: Financial services experience.
• Experience with vendor management systems (VMS), MSP programs, and contingent workforce management.
• CPSM, PMP, or related certifications.

Skills

• Vendor management
• Negotiation
• Strategic sourcing
• RFP
• Contract management
• Professional services
• SOW
• Time & Material
• SLA
• Financial services
• Banking
• Staffings
• MSP