Strategic Sourcing Principal - Enterprise Applications

The Strategic Sourcing Principal - Enterprise Applications is a highly experienced professional within Sourcing who leads the development and execution of strategic sourcing strategies for complex goods and services. This role focuses on sourcing Enterprise SasS based applications for complex Investment Systems, Global Business Services, Client Services, Enterprise Data, and Enterprise Architecture within the company.

They collaborate with internal stakeholders to identify cost-saving opportunities, manage supplier relationships, and negotiate favorable contract terms while ensuring compliance with company policies and best practices.

Key responsibilities:

* Strategic Sourcing Planning:

* Conduct in-depth market research to identify potential suppliers and assess market trends.

* Develop comprehensive sourcing strategies for assigned categories, including cost reduction targets, supplier selection criteria, and risk mitigation plans.

* Collaborate with internal stakeholders to understand business needs and translate them into clear sourcing requirements.

* RFx Management:

* Lead the design and execution of Request for Information (RFI), Request for Quotation (RFQ), and Request for Proposal (RFP) processes.

* Analyze supplier responses, evaluate proposals based on price, quality, delivery, and other relevant factors.

* Supplier Negotiation:

* Develops negotiation strategies and leads negotiations of complex contract provisions

* Conduct complex contract negotiations with suppliers, ensuring optimal pricing and terms while balancing risk and value.

* Develop and manage master agreements, including legal terms and conditions.

* Vendor Relationship Management:

* Build and maintain strong relationships with key suppliers, addressing performance issues and driving continuous improvement.

* Monitor supplier performance against contractual obligations and KPIs.

* Cost Optimization:

* Analyze spend data to identify cost-saving opportunities and implement strategic sourcing initiatives.

* Utilize cost modeling and total cost of ownership (TCO) analysis to evaluate sourcing options.

* Stakeholder Management:

* Communicate sourcing strategies and progress to internal stakeholders, including senior management.

* Proactively manage expectations and address concerns related to sourcing activities.

Required Skills:

* Sourcing Expertise:

o 7 years of advanced strategic sourcing experience with mastery of strategic and tactical procurement principles, practices, and models.

o Deep understanding of sourcing principles, sourcing methodologies, and contract law.

o Proven track record with clearly articulated examples of negotiating SaaS based enterprise business applications at scale in a global environment

o Ability to concisely convey contracting options and recommended path forward in summary fashion

* Analytical Skills:

o Proficiency in data analysis, spend analytics, and financial modeling to identify cost savings opportunities.

* Market Knowledge:

o Extensive knowledge of relevant supplier markets, industry trends, and competitive landscape.

* Communication Skills:

o Excellent written and verbal communication to effectively interact with stakeholders at all levels.

* Project Management Skills:

o Ability to lead and manage complex sourcing projects from initiation to completion.

o Ability to manage individual project timelines and drive completion of projects under limited supervision.

* Education:

o Bachelor's degree, preferably in a business, supply chain or economics or equivalent experience

All qualified applicants will receive consideration for employment without regard to race, color, national origin, age, ancestry, religion, sex, sexual orientation, gender identity, gender expression, marital status, disability, medical condition, genetic information, pregnancy, or military or veteran status. We consider all qualified applicants, including those with criminal histories, in a manner consistent with state and local laws, including the California Fair Chance Act, City of Los Angeles' Fair Chance Initiative for Hiring Ordinance, and Los Angeles County Fair Chance Ordinance. For unincorporated Los Angeles county, to the extent our customers require a background check for certain positions, the Company faces a significant risk to its business operations and business reputation unless a review of criminal history is conducted for those specific job positions.