What are the responsibilities and job description for the Procurement Manager position at LendingClub?
Current Employees of LendingClub: Please apply via your internal Workday Account
LendingClub Corporation (NYSE: LC) is the parent company of LendingClub Bank, National Association, Member FDIC. We are the leading digital marketplace bank in the U.S., having helped our nearly 5 million members secure over $90 billion in loans to refinance high-cost debt and achieve their financial goals. Members today have mobile-first access to a growing range of products and services designed to work seamlessly together to deliver value in new ways. Everyone deserves a better financial future, and our team is committed to making that a reality. Join the Club!
About the Role
This position will be responsible for sourcing, negotiation and vendor management activities. This includes cultivating relationships with LendingClub stakeholders at all levels, focused on managing regular vendor engagement activities (sourcing, negotiating, contracting, risk review) and developing cost savings and category sourcing opportunities.The Manager handles all aspects of the vendor management lifecycle in collaboration with the business partners, Risk SMEs and Legal. Responsibilities will include planning, vendor sourcing (including RFI’s & RFP’s, Reverse Auctions), risk assessment, pricing and contract negotiations, managing due diligence, and facilitating quarterly/annual business reviews to drive value from key suppliers. The role will also focus on collaborating with various business leaders to develop and execute category plans and sourcing strategies that minimize vendor risk while optimizing vendor economics and outcomes.
What You'll Do
- Supplier/Vendor Strategy: Plan, source, and select new vendors. Work with business owners to optimize relationships with existing vendors
- Negotiation: Work quickly but effectively to negotiate the best available price and terms to meet savings goals, minimize risk and ensure compliance
- Contract Strategy and Execution: Understand key terms, lead contract negotiations, establish critical metrics and define SLA’s
- Optimization of Economics: Own and develop financial analytics to support negotiations and/or purchasing activity, drive continual improvement
- Risk Assessment and Due Diligence: Assist in the risk and due diligence process to move the vendor through the various stage gates from identification to contracting
- Process and Execution: Manage a large number of procurement projects and negotiations ranging from order forms to MSA’s to RFI/RFP’s
- Work on a potentially broad range of exciting categories such as operations, marketing, professional service providers, facilities, credit risk and technology (we want a great procurement person who is confident, but doesn’t need to be an expert in everything right now)
About You
- 3-5 years of experience in procurement in one or more of the following areas: strategic sourcing, procurement/purchasing (not P2P), vendor management, or management consulting, and bachelor’s degree; or equivalent work experience
- Strong communication, interpersonal, analytical, problem solving, and influencing skills, including experience manipulating data to derive insights for senior management or executives
- Self-starter with ability to own projects from initial inquiry to completion
- Good overall project manager – strong organizational skills; able to prioritize and execute efficiently, think critically, playing a variety of roles to achieve results in a high-volume, fast-paced environment
- Adaptable and solution oriented
- Prior banking or financial services industry experience
- Familiarity with Federal regulations impacting the Financial Services industry (FDCPA, TCPA, OCC, etc.)
- Experience in a high growth technology environment
- Professional accreditation in sourcing or procurement is a plus
Work Location
San Francisco, Lehi, or New York
We are currently working a hybrid schedule and our teams are in-office Tuesdays, Wednesdays, and Thursdays.
Time Zone Requirements
Local hours (PT, MT, ET)
Travel Requirements
As needed travel to San Francisco/Boston/Lehi/New York.
If you need to travel for work, LendingClub will cover your travel related expenses.
Compensation
The target base salary range for this position is 82,000-125,000. The position is also eligible to receive a bonus (which is based on company performance, employee performance and eligible earnings), equity, and benefits. Our salary ranges, other compensation and benefits offered are determined by role, experience level and location.
We’re creating new financial services solutions for our members based on fairness, simplicity, and heart, and we treat our employees the same way. We offer a competitive benefits package that includes medical, dental and vision plans for employees and their families, 401(k) match, health and wellness programs, flexible time off policies for salaried employees, up to 16 weeks paid parental leave and more.
#LI-Hybrid
#LI-GB1
San Francisco, Lehi, or New York
We are currently working a hybrid schedule and our teams are in-office Tuesdays, Wednesdays, and Thursdays.
Time Zone Requirements
Local hours (PT, MT, ET)
Travel Requirements
As needed travel to San Francisco/Boston/Lehi/New York.
If you need to travel for work, LendingClub will cover your travel related expenses.
Compensation
The target base salary range for this position is 82,000-125,000. The position is also eligible to receive a bonus (which is based on company performance, employee performance and eligible earnings), equity, and benefits. Our salary ranges, other compensation and benefits offered are determined by role, experience level and location.
We’re creating new financial services solutions for our members based on fairness, simplicity, and heart, and we treat our employees the same way. We offer a competitive benefits package that includes medical, dental and vision plans for employees and their families, 401(k) match, health and wellness programs, flexible time off policies for salaried employees, up to 16 weeks paid parental leave and more.
#LI-Hybrid
#LI-GB1
LendingClub is an equal opportunity employer and dedicated to diversity, equity, and inclusion in the workplace. We do not discriminate on the basis of race, religion, color, national origin, sex (including pregnancy, childbirth, reproductive health decisions, or related medical conditions), gender, gender identity, gender expression, sexual orientation, age, marital status, veteran status, disability status, political views or activity, or other applicable legally protected characteristics. We believe that a variety of perspectives will make our teams and business stronger as we work together to transform the traditional banking system.
We are committed to providing reasonable accommodations for qualified individuals with disabilities in our job application process. If you need assistance or an accommodation due to a disability, please contact us at interviewaccommodations@lendingclub.com.
