Strategic Sourcing Manager

About the role

City National Bank is seeking a Strategic Sourcing Manager to join their Enterprise Procurement department, supporting all business lines and offices in North America. This role leads complex negotiations, drafts contracts for commodities and services, and interfaces with executive-level management to make recommendations. The position proactively identifies category sourcing options, partners with stakeholders, and recommends supply strategies to create cost savings or supply support solutions.

Responsibilities

• Lead mid to high-level complex negotiation, transactions, and procurement projects.
• Apply knowledge of strategic sourcing processes, contract drafting, financial reviews, and procurement practices.
• Lead negotiations and contract drafting for commodities/services purchased by the bank, collaborating with Legal, Compliance, Finance, and other departments to minimize risk and secure favorable terms.
• Proactively identify and recommend category sourcing options, partnering with stakeholders to implement them.
• Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions.
• Analyze business plans, spend data, supplier and market data to determine optimal sourcing strategies across businesses and assigned suppliers/commodities.
• Contribute to defined category performance targets and participate in or lead competitive RFPs.
• Research and stay current on industry practices for products and services within assigned categories.
• Assist colleagues with interpreting contracts and lead RFx activity.
• Build and foster relationships across functions with internal stakeholders, external suppliers, and colleagues to influence change.
• Manage assigned projects, communicate with stakeholders, and ensure compliance with company policies, procedures, and standards.
• Prepare reports for management as requested and manage supplier relationships, audits, and risk mitigation.
• Act as liaison with vendors to ensure organizational needs are met and present strategic sourcing strategies to senior management.
• Develop and maintain market and technical expertise in assigned buy categories, recognized as a subject matter expert (SME).
• Evaluate existing processes and recommend improvements aligned with best practices.
• Facilitate supplier audits, mine spend data to identify cost-saving opportunities, and recommend supplier/vendor strategies.
• Train and mentor other Procurement team members, empowering them through motivation, recognition, and performance feedback.
• Participate in the development of procurement strategies and plans, working at both strategic and tactical levels as needed.
• Perform other duties as required.

Requirements

• Bachelor’s Degree or equivalent.
• Minimum 5 years of Procurement experience.
• Minimum 2 years of experience working for a bank, financial services company, or indirect Procurement Organization.

Skills

• Knowledge of negotiation principles, practices, and procurement processes.
• Skilled in contract negotiation and drafting, with experience developing negotiation and sourcing strategies.
• Ability to adapt to change, ask questions, and learn new concepts or ideas.
• Strong verbal and written communication skills.
• Systematic and strategic thinking to analyze issues, develop actionable plans, and connect unrelated problems to see the big picture.
• Collaborative approach, valuing colleagues’ individual differences and talents to achieve the best outcomes.
• Thoroughness in completing tasks, projects, or analyses with attention to all required elements.
• Effective time and resource management.
• Leadership skills to manage teams, mentor colleagues, and drive results through motivation and feedback.
• Flexibility and adaptability to change.

Master’s degree is a plus.

Pay

Starting base salary: $77,000 - $143,000 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.

Benefits

• Comprehensive healthcare coverage, including Medical, Dental, and Vision plans (available the first of the month following start date).
• Generous 401(k) company matching contribution.
• Career Development through Tuition Reimbursement and internal upskilling/training resources.
• Valued Time Away benefits, including vacation, sick, and volunteer time.
• Specialized health and family planning benefits, including fertility support and cancer, diabetes, and musculoskeletal programs.
• Career Mobility support from a dedicated recruitment team.
• Colleague Resource Groups to support networking and community engagement.