Strategic Sourcing Manager

Description: Position is hybrid based out of HQ, 2-3 days a week. Responsible for the development and execution of sourcing strategies that support Navy Federal Credit Union strategic vision and goals and to support efficient business operations. Individuals in this role will effect change and drive change management for new methodologies, solutions and approaches to sourcing and technology within Navy Federal Credit Union. Individuals in this role will generate high-quality work product and strategize vendor approach in a collaborative manner to support cost savings with beneficial contractual terms that effectively manage risk. The SSM leverages best in class practices and sound sourcing processes that drive reliable and innovative Total Cost of Ownership initiatives. Responsibilities: • Collaborate with partners to align sourcing priorities, source selection, conduct market research, mitigate issues and add value through insights • Preparation, issuance and management of a RFP's/ RFIs • Build and maintain relationships with lines of business, team members, management, key stakeholders and external contacts (e.g., vendors, etc.) • Identify and work collaboratively with the client and other stakeholder groups (Operations, PVM, EPMO, OGC, Information Security, etc.) to achieve objectives and ensure alignment with Navy Federal's strategy and business operations • Drive partner satisfaction by learning and understanding partner needs, being responsive to issues, integrating partners into procurement/sourcing processes and building relationships with key stakeholders • Collaboratively work with cross functional teams to develop business unit requirements and Statement of Works • Manage a competitive RFP process that is standardized with consistent language, evaluation criteria • Participates in collaborative handoffs with PVM staff to ensure effectively negotiated contracts that meet desirable financial terms and conditions • Administer Non-disclosure agreements, Risk Assessments and the supplier due diligence process in collaboration with P&VM Risk team • Support P&VM contracts teams in negotiating MSAs and other agreements • Support periodic performance review meetings with vendors • Provide regular feedback on supplier performance • Analyze business unit requirements for leveraging opportunities, supplier recommendations, acquisition planning • Consult with business unit partners to provide sourcing strategy advice to maximize favorable results and support client strategy and goals • Lead source selection activities of pre-qualified vendors, including conducting market analysis to determine potential sources • Obtain and analyze vendor performance and delivery data for to ensure quality, consistency, and fairness to inform sourcing activities • Maintain vendor related documentation, including source selection records, supplier performance information, compliance metrics, and value capture results • Ability to develop the overall strategy for a product category and researches new product options in the category to drive TCO savings and achieve targets • Provide Category insight by analyzing market data and monitoring relevant market conditions • Perform other related duties as assigned or appropriate Qualifications and Education Requirements: • Bachelor's Degree in Business Administration or a related field, or the equivalent combination of education, training, and experience • Significant experience in preparing and reviewing RFPs, RFIs, SOWs • Significant experience in IT strategic sourcing, category management, subcontracts management or procurement • Significant experience in managing a formalized process of selecting, monitoring and evaluating IT vendors/vendor contracts • Advanced skill translating business goals and objectives into IT capabilities • Significant experience developing, negotiating, and managing service level agreements • Advanced skill exercising initiative and using good judgment to make sound decisions • Advanced skill resolving conflicting requests and meeting changing requirements managing multiple priorities independently and/or in a team environment to achieve goals • Advanced skill communicating complex processes to senior leadership, strong presentations skills • Advanced skill relationship building, negotiation and facilitation skills • Strong Data Analytics and data manipulation skills • Significant experience with change management and organizational transformation • Working knowledge of procedures or strategic sourcing experience in financial services • 7+ years procurement experience

Created: 2024-11-02