What are the responsibilities and job description for the DIRECTOR STRATEGIC SOURCING position at City National Bank?
Overview :
DIRECTOR STRATEGIC SOURCING
WHAT IS THE OPPORTUNITY?
Responsible for managing and optimizing the procurement and sourcing strategies to support the institution's operations and strategic objectives. In addition to, will be responsible for overseeing the procurement process for various goods and services, ensuring cost-effectiveness, quality, and compliance with regulatory requirements. Additionally, this colleague will collaborate with internal stakeholders to identify sourcing opportunities, negotiate contracts, and foster relationships with vendors and suppliers.
What you will do
- Collaborate with senior management to define sourcing priorities and strategies. Develop and execute strategic sourcing plans aligned with the bank's goals and objectives.
- Collaborate with key stakeholders to understand business needs and translate them into actionable sourcing plans.
- Jointly developing category strategies with BU / Corporate leadership and Assessment partner input
- Establish category management capabilities and develop a deep understanding of the CNB vendor landscape.
- Analyze market trends and industry dynamics to identify sourcing opportunities and risks.
- Streamline procurement processes and procedures to improve efficiency and reduce costs.
- Implement best practices and tools for sourcing, contract management, and supplier performance evaluation.
- Ensure compliance with regulatory requirements and internal policies throughout the procurement lifecycle.
- Lead complex high-dollar / vendor risk negotiations and support Sourcing Managers in negotiations while monitoring / delivering on savings targets for annual cost reduction improvements
- Evaluate vendor capabilities, performance, and financial stability to ensure a reliable and competitive supply chain.
- Negotiate contracts, pricing, and terms with vendors to achieve optimal value while minimizing risk.
- Establish and maintain strong relationships with key suppliers to drive innovation and continuous improvement.
- Collaborate with internal stakeholders, including finance, legal, operations, and business units, to understand their sourcing needs and ensure alignment with enterprise initiatives.
- Serve as the focal escalation point for Procurement, TPRM leaders and BU leaders to raise issues that cannot be resolved within the function
- Foster a culture of collaboration and communication to drive alignment and maximize value across the organization.
- Provide strategic guidance and RFP support to business units in the selection and management of suppliers.
- Serve as a subject matter expert and trusted advisor on sourcing-related matters to internal stakeholders.
- Responsible for the ownership, management, steady improvement, and consistent adoption / usage of procurement practices across the enterprise. Specific areas of ownership will include areas such as policy ownership (including standards and procedures), process ownership, and compliance / governance.
- Identify and mitigate sourcing-related risks, including supply chain disruptions, vendor failures, and regulatory compliance issues.
- Monitor and report on key performance indicators (KPIs) related to sourcing efficiency, cost savings, and supplier performance.
- Build and develop a high performing team by providing coaching, mentoring, and professional development opportunities.
- Foster a culture of continuous learning, knowledge sharing, and innovation.
- Recruit and retain top talent to support the organization's strategic sourcing objectives.
Must-Have
Skills and Knowledge
Compensation
Starting base salary : $157,943 - $293,299 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and / or commissions.
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
Benefits and Perks
At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our Benefits and Perks .
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.'
ABOUT CITY NATIONAL
We start with a basic premise : Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North Americas leading diversified financial services companies.
LI-MA
CA-MA
Salary : $157,943 - $293,299
