Sr Sourcing Specialist

About the Role

The Senior Sourcing Specialist is expected to manage complex sourcing activities, including statement of work, work authorization, change orders, renewals, amendments, Non-Disclosure Agreements, and Master Agreements. The role coordinates with the Risk team to ensure compliance with banking regulations and builds relationships with business partners, suppliers, Contract Managers, Procurement Legal, Category Directors/Managers, and Procurement Operations.

Responsibilities

• Manages all aspects of and drives requests through the Truist procure-to-pay process.
• Coordinates with Truist stakeholders, including contract management, Legal, and other SMEs concerning supplier's contractual provisions related to business-as-usual requests (i.e., non-strategic requests).
• Negotiates contract spend that is reasonable and competitive within market, amount of goods and services procured, term of the agreement, and business budgetary needs; strives to achieve cost avoidance or cost out during negotiations, as well as the bank's total enterprise spend with the supplier.
• Ensures contract terms and conditions align with business needs and the appropriate parent agreement.
• Develops relationships with business partners, suppliers, Contract Managers, Legal, Category Directors/Managers, and Procurement Operations.
• Guarantees department procedures are followed, including managing business expectations and dates, weekly status updates, and legal/contract manager assignment.
• Reviews contract requests for potential Purchase Order Procurement method, ensures requests meet Purchase Order requirements, and obtains manager approval; acts as a resource for business on the Purchase Requisition process.
• Coordinates project kick-off and Third Party Risk Assessments calls with proper SME teammates and verifies risk ratings are correct in the system of record prior to contract signature.
• Serves as a mentor to and assists with training of more junior teammates.
• Complies with company policies, procedures, and regulatory standards.

Required Qualifications

• Bachelor's degree in a relevant business field of study or 4–6+ years of experience in organizational Sourcing/Procurement or equivalent experience.
• Expert in procurement and supply chain management.
• Skilled with contractual structure; ability to identify legal and business issues and risks.
• Ability to interact tactfully with numerous stakeholders.
• Adept at prioritizing own workload to meet competing deadlines.
• Excellent verbal and written communication skills along with organization skills.
• Proficient in Microsoft Word, Excel, Outlook, and PowerPoint.
• Strong relationship management skills and the ability to quickly gain the trust and confidence of senior leaders within Truist.

Preferred Qualifications

• Experience with SAP - Ariba or other similar procurement software.
• Experience with Archer or other similar risk software.
• Specific knowledge of one or more of the following categories: Banking Services, General & Admin, Human Resources, Professional Services, Real Estate, Data, IT and Telecom, Sales and Marketing.
• Certified Professional in Supply Management (CPSM).
• Previous experience in the financial services industry.

Pay

To comply with the Virginia pay transparency statute and for work locations in Virginia only, the annual base salary for this position is $86,500 - $164,350 USD.

Benefits

All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position. Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates. Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays. Depending on the position and division, this job may also be eligible for Truist's defined benefit pension plan, restricted stock units, and/or a deferred compensation plan.