VP/Director of Sourcing & Procurement

At Customers Bank, we believe in working hard, working smart, working together to deliver memorable customer experiences and having fun. Our vision, mission, and values guide us along our path to achieve excellence. Passion, attitude, creativity, integrity, alignment, and execution are cornerstones of our behaviors. They define who we are as an organization and as individuals. Everyone is encouraged to have personal development plans. By doing so, our team members are on their way to achieve their highest potential and be successful in their personal and professional lives.

Position Title: Sourcing and Procurement Manager

Report to Manager: SVP/ Senior Director of Third-Party Risk and Program Management

Department: Third-Party Risk

Work Location:  Hybrid – Malvern, PA or West Reading, PA coming into the office at least 3-days per week with Monday, Tuesday, and Thursday being set days.

Who is Customers Bank?

Founded in 2009, Customers Bank is a super-community bank with over $22 billion in assets. We believe in dedicated personal service for the businesses, professionals, individuals, and families we work with.

We get you further, faster. 

Focused on you:  We provide every customer with a single point of contact. A dedicated team member who’s committed to meeting your needs today and tomorrow.

On the leading edge:  We’re innovating with the latest tools and technology so we can react to market conditions quicker and help you get ahead.

Proven reliability:  We always ground our innovation in our deep experience and strong financial foundation, so we’re a partner you can trust.

What you’ll do:

We are seeking an experienced Director of Sourcing and Procurement to join our Vendor Management Office (VMO).  Working closely with the SVP / Senior Director of the VMO & PMO, the Director of Sourcing and Procurement will be responsible for building this newly formed function for the bank.  The Director will be responsible for designing, implementing and managing all aspects of the program.  The function will serve to identify, evaluate, and acquire goods and services from suppliers to meet the needs of the organization. This position requires strong negotiation skills, market analysis expertise, and the ability to forge strategic supplier relationships to optimize cost, quality, and delivery.  You should be able to maintain and update the supplier database, find alternative suppliers if the existing ones are unable to meet obligations and develop and implement innovative ideas to enhance sourcing strategies.

Job Responsibilities

• Supplier Identification: Identify potential suppliers through market research and evaluation, considering factors such as cost, quality, reliability, and delivery capabilities.
• Negotiation: Conduct negotiations with suppliers to secure favorable terms, pricing, and contracts while ensuring alignment with organizational goals.
• Supplier Management: Develop and maintain strong relationships with key suppliers, monitor their performance, and implement strategies to address any issues or improvements.
• Cost Analysis: Analyze supplier proposals, pricing structures, and total cost of ownership to make informed sourcing decisions that optimize cost efficiency.
• Market Research: Stay updated on industry trends, market conditions, and emerging technologies to make informed sourcing recommendations.
• Sourcing Strategy: Collaborate with cross-functional teams to develop and implement sourcing strategies that align with organizational objectives.
• Contract Management: Review, evaluate, negotiate, and manage supplier contracts, ensuring compliance with legal and regulatory requirements.  Ongoing monitoring and management of the contract lifecycle.
• Quality Assurance: Work with suppliers to ensure products or services meet established quality standards and specifications.
• Risk Assessment: Identify potential risks in the supply chain and develop risk mitigation plans to ensure continuity of supply.
• Cost Reduction: Continuously seek opportunities to reduce costs through negotiation, process improvement, and supplier optimization.

What do you need?

Must Haves:

• Bachelor's degree in Business, Supply Chain Management, or a related field; relevant certifications are a plus.
• Minimum of 10 years experience in procurement, sourcing, or supply chain management.
• Minimum of 4 years of experience in a management/supervisory role
• Knowledge of contract frameworks and contract management
• Strong negotiation and communication skills.
• Proficiency in market research and analysis.
• Familiarity with contract management and legal aspects of procurement.
• Ability to work effectively in cross-functional teams.
• Exceptional problem-solving and analytical abilities.
• Attention to detail and organizational skills.
• Proficiency in procurement software and Microsoft Office suite.
• Knowledge of industry-specific regulations and compliance.
• Strong ethics and integrity in supplier relationships.
• Superior communication (written and oral)

Nice to Haves:

• Background in Banking, financial institution, or fintech is preferred
• General understanding of risk, information security, business continuity/resumption, compliance, and legal

Customers Bank is an equal opportunity employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.

We also provide “reasonable accommodations”, upon request, to qualified individuals with disabilities, in accordance with the Americans with Disabilities Act and applicable state and local laws. 

Diversity Statement:

At Customers Bank, we believe in working smart, working together, and having fun while delivering innovative solutions and memorable experiences for our customers. We are committed to the continual advancement of a culture which reflects the value we place on diversity, equity, and inclusion. We honor the diverse experiences, perspectives, and identities of our team members, and we recognize that it is their passion, creativity, and integrity that drives our success. Step into your future with us! Let’s take on tomorrow.