Procurement Sourcing Specialist
Source: beBee S2
Job Description***Location: This position will sit on site in Buffalo, NY***Overview:
The Procurement Sourcing Specialist is responsible for a structured process for selecting the most suitable vendors at the best price. Strategic Sourcing includes a six-step process that ensures we are maximizing competition and leverage when choosing vendors. As such, this position plays an important role in controlling expense and mitigating risk at the Bank. The position is responsible for ensuring contracts are papered properly, deals are well-documented, and the Bank receives the best value for each dollar spent.
- Predominately support the strategic sourcing needs of Consumer Banking, Business Banking, and Marketing
- Responsible for following the strategic sourcing process to ensure the project team is successful.
- Collaborate with business leads to create a cross-functional team to ensure appropriate buy-in, support and participation throughout the project.
- Effectively influence the Project Team to assess build vs. buy
- Guide the Project Team through the Strategic Sourcing process and keep the Executive Sponsor and relevant senior managers informed of progress, setbacks and obstacles.
- Develop and execute Requests for Proposals (RFPs), Requests for Quotes (RFQs) and/or Requests for Information (RFIs) based on identified business needs, market conditions and corporate standards.
- Facilitate analysis, evaluation and scoring of vendor proposals against criteria established and agreed on by the team.
- Coordinate activities such as vendor demonstrations, reference calls and on-site visits to short-list vendors.
- Lead contract negotiations in conjunction with the Project Team and Legal to ensure we obtain the most competitive pricing and favorable terms possible.
- Prepare sufficient documentation to inform Executive Sponsor and senior managers of recommendations and results of the sourcing initiative, including any achieved savings, customer implications and impacts to business operations.
- Guide business and support units through the Third-Party Risk Management Program in conjunction with the Third-Party Risk Management team to ensure selected vendors are properly risk tiered, vetted and approved before executing a contract.
- Use reporting and analytics to recommend savings opportunities to associated business lines and support functions.
- Understand and adhere to the Company’s risk and regulatory standards, policies and controls in accordance with the Company’s Risk Appetite. Identify risk-related issues needing escalation to management.
- Promote an environment that supports diversity and inclusion that reflects the M&T Bank brand.
- Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
- Participate in and support Strategic Sourcing process improvement efforts
- Complete other related duties as assigned.
Education and Experience Required:
- Bachelor’s degree and a minimum of 1 year proven financial and/or business experience, or in lieu of a degree, a combined minimum of 5 years’ higher education and/or work experience, including a minimum of 1 year proven financial and/or business experience
- Experience with Strategic Sourcing
- Proficiency with Microsoft Office applications and procurement systems
- Strong verbal and written communication skills
- Experience interacting with all levels of management
- Strong presentation skills
Education and Experience Preferred:
- MBA (Master’s degree in Business Administration)
- Banking experience
- SAP Ariba experience
- Experience writing Requests for Proposal (RFPs) and negotiating contracts
Buffalo, New York, United States of America
2 days ago
Job Description ***Location: This position will sit on site in Buffalo, NY*** Overview: The Procurement Sourcing Specialist is responsible for a structured process
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