What are the responsibilities and job description for the Sourcing Category Manager position at InvestCloudOct2024?
We are seeking a proactive and detail-oriented Sourcing Category Manager to support the Head of Procurement in executing strategic sourcing initiatives and managing vendor relationships. This role will contribute to the development and implementation of procurement strategies, ensuring cost efficiency and alignment with organizational objectives.
Key Responsibilities
- Strategic Sourcing and Procurement
- Assist the Head of Procurement in developing and implementing sourcing strategies for assigned categories.
- Lead and support the RFx (RFP/RFQ/RFI) process, including document preparation and vendor evaluation.
- Negotiate vendor contracts, including pricing, scope of work, SLA/KPI, and commercial terms, while reviewing, redlining, and providing comments within the contract documents to ensure clarity and alignment with organizational standards.
- Vendor and Stakeholder Management
- Build and maintain strong relationships with vendors to foster mutually beneficial partnerships.
- Act as a thought partner to internal business stakeholders, providing exceptional customer service related to the vendor management engagement process and best practices.
- Collaborate with internal stakeholders to align procurement activities with business needs.
- Participate in vendor performance reviews, including quarterly business reviews and KPI assessments.
- Cost Optimization
- Identify opportunities for cost savings and implement initiatives to achieve procurement efficiency.
- Analyze spend data and collaborate with the Head of Procurement to streamline processes.
- Process Improvement and Compliance
- Support the Head of Procurement in developing and enforcing procurement policies to ensure compliance with organizational and legal standards.
- Implement and maintain procurement systems (e.g., ERP, CLM) to enhance workflow efficiency.
- Project and Change Management
- Assist in driving procurement centralization and P2P process standardization under the guidance of the Head of Procurement.
- Support procurement-related projects, such as system implementation and vendor transitions.
Qualifications
- Bachelor’s degree in Business, Finance, Supply Chain Management, or a related field.
- 7 years of experience in procurement or sourcing, with expertise in indirect categories preferred.
- Proven experience in cost savings, vendor negotiation, and contract management, including reviewing and redlining contracts.
- Proficiency in procurement tools and systems (e.g., NetSuite, IronClad, or similar).
- Strong analytical and problem-solving skills.
- Excellent communication and stakeholder management capabilities.
Preferred Skills
- Experience in implementing procurement systems (ERP, CLM, etc.).
- Knowledge of spend analysis and category management strategies.
- Demonstrated ability to support leadership in driving procurement centralization and process standardization.
- Proven ability to perform vendor contract review, negotiation, and redlining of commercial terms.
About InvestCloud
InvestCloud, a global leader in wealth technology, aspires to enable a smarter financial future. Driving the digital transformation of the wealth management industry, the company serves a broad array of clients globally, including Wealth and Asset Managers, Wirehouses, Banks, RIAs, and Insurers. In terms of scale, the company’s clients represent more than 40 percent of the $132 trillion of total assets globally. As a leader in delivering personalization and scale across advisory programs, including unified managed accounts (UMA) and separately managed accounts (SMA), the company is committed to the success of its clients. By equipping and enabling advisors and their clients with connected technology, enhanced intelligence, and inspired experiences, InvestCloud delivers leading digital wealth management and financial planning solutions, complemented by a dynamic data warehouse, which scale across the complete wealth continuum. In 2024, InvestCloud was named a CNBC World’s Top Fintech Company, a proof point of the company’s commitment to innovation and client success. Headquartered in the United States, InvestCloud serves clients around the world. For more information, visit InvestCloud.com.
Our Values
- Client Connected
- Human Centered
- Technology Forward
- Respect Integrity
- Excellence
The actual salary will vary based on applicant’s education, experience, skills, and abilities, as well as internal equity and alignment with market data. The salary may also be adjusted based on the applicant’s geographic location. Salary range: $130,000 - $160,000
Invest Cloud is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status or any other characteristic protected by law.
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Salary : $130,000 - $160,000
