Sourcing Lead

Citizens Financial Group Inc
US - Rhode Island - Johnston
January 18, 2025

Description

Citizens Bank Procurement organization is establishing a hub for innovation and non-vendor Third-party relationship management to improve our test and learn time to market while standardizing our non-vendor third-party procurement due diligence.
In the role as a Sourcing Lead of Third-party innovation and Partnerships, you will collaborate with business units, key risk units, and all levels of management from across the bank.
The Sourcing Lead will be equipped with forward-looking market intelligence and a fully integrated source-to-pay process, enabling you to be a strong strategic partner with business line executives.
This will help you drive shorter cycle times, increased market intelligence, higher-level strategic discussions, and risk management for the bank

The Sourcing Lead will report to the Sourcing Team Manager in Strategic Sourcing within Procurement.
The Lead will drive initiatives for the assigned commodity and consider the total cost of ownership across the Bank.
The successful candidate will partner with business owners to identify market and economic trend opportunities and execute against them to continually improve the value derived from third party relationships.
The Sourcing Lead will exhibit strong business acumen and understanding of the financial services industry.
The primary focus is to align with the business lines in a way that generates a positive impact to them achieving their business goals, while optimizing value to the overall organization.

Specifically, within this commodity the Sourcing Lead responsibilities include managing the end-to-end process, conducting due diligence, ongoing monitoring, reporting, and optimizing processes for Third Party Proof of Concepts and non-vendor Third Party Partnerships.
The Sourcing Lead will coordinate with key stakeholders within First- and Second-Line Risk, Legal, Business units from across the bank, Regulators and fellow Procurement colleagues.

JOB RESPONSIBILITIES

Assist in the development of commodity strategies to achieve cost savings and improve quality and service levels by identifying opportunities and sourcing strategies for strategic/complex negotiations.
Oversee all spend activity for assigned commodity and determine proper action plan for all purchases that meet Procurement involve threshold.
Join and potentially lead cross-functional teams to execute sourcing initiatives including the competitive bidding process and contract negotiations; ability to negotiate, including contract red lining for all types of corporate transactions using an Agile contracting framework.
Provide Category Procurement subject matter expertise for the associated business/function; effectively work with functional and business groups as a trusted advisor to determine desired product/service specifications and projected demand when making recommended action plans.
Maintain current with the industry supply base and industry trends with the objective to develop innovative solutions to complex problems.
Proactively identify improvement opportunities for assigned category areas and recommend key actions; utilize analytical thinking and tools to identify new benefits generation; prioritize projects to ensure demonstrated impact to the business.
Developing and executing against comprehensive commodity and sourcing strategies for strategic/complex negotiations.
Maintaining expertise in the market data industry as well as broader industry knowledge in order to develop strategic recommendations and to participate in projects and new initiatives that have a market data component as needed.
Interact with the business and technology teams to inform our user community about contractual obligations, data usage rights and restrictions and other contractual requirements in order to operate within contractual norms.
Creating and developing strong working relationships with key internal and external partners up to Executive levels to play a role in strategic projects that support the commodity.
Work with internal business units to address market data product mix making sure our services are fit for purpose and that costs are managed appropriately.
Utilizing analytical thinking and tools to identify new benefits generation; prioritizing projects to ensure planned impact to the business.
Manage the relationship with market data providers as their primary global sourcing contact.
Act as the main point of contact between the business units and the 3 rd parties for contract renewals to identify potential actions based on new costs, features, or requirements.
Collaborate with the Legal, Finance and Business Management functions to address all contractual, commercial and relationship issues as they arise.

Education and Certifications:

Bachelor's degree in relevant field is required, MBA preferred
Legal background preferred
Agile/SCRUM certification preferred

Hours & Work Schedule - Hours per Week:
40/ Work Schedule:
Monday through Friday

Some job boards have started using jobseeker-reported data to estimate salary ranges for roles.
If you apply and qualify for this role, a recruiter will discuss accurate pay guidance.

Equal Employment Opportunity

Citizens, its parent, subsidiaries, and related companies (Citizens), provides equal employment and advancement opportunities to all applicants for employment and colleagues without regard to age, ancestry, color, citizenship, physical or mental disability, perceived disability, or history or record of a disability, ethnicity, gender, gender identity or expression, transgendered and transitioning individuals, genetic information, genetic characteristic, marital or domestic partner status, victim of domestic violence, family status/parenthood, medical condition, military or veteran status, national origin, pregnancy/childbirth/lactation, colleague's or a dependent's reproductive health decision making, race, religion, sex, sexual orientation, or any other category protected by federal, state and/or local laws.
At Citizens we are committed to fostering an inclusive culture that enables colleagues to bring their best selves to work every day and where all are expected to be treated with respect and professionalism.
Employment decisions are based solely on experience, performance, and ability.
We perform our best so we can do more for our customers, colleagues, communities and shareholders.

Background Check

Any offer of employment is conditioned upon the candidate successfully passing a background check, which may include initial credit, motor vehicle record, public record, prior employment verification, and criminal background checks.
Results of the background check are individually reviewed based upon legal requirements imposed by our regulators and with consideration of the nature and gravity of the background history and the job offered.
Any offer of employment will include further information.

Read the full job description and apply online on the recuiter's web-site

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