Senior Strategic Sourcing Consultant - Enterprise Applications

Overview

Our leading financial services client is seeking a Strategic Sourcing Consultant – Enterprise Applications to join their team!

The Strategic Sourcing Consultant – 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. 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.

Responsibilities:

• 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.
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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:

• 7+ years of advanced strategic sourcing experience with mastery of strategic and tactical procurement principles, practices, and models.
• Deep understanding of sourcing principles, sourcing methodologies, and contract law.
• Proven track record with clearly articulated examples of negotiating SaaS based enterprise business applications at scale in a global environment
• Ability to concisely convey contracting options and recommended path forward in summary fashion

Analytical Skills:

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

Market Knowledge:

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

Communication Skills:

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

Project Management Skills:

• Ability to lead and manage complex sourcing projects from initiation to completion.
• bility to manage individual project timelines and drive completion of projects under limited supervision.

Education:

• Bachelor’s degree, preferably in a business, supply chain or economics or equivalent experience.

The target hiring compensation range for this role is $88.71 to $98.71 an hour. Compensation is based on several factors including, but not limited to education, relevant work experience, relevant certifications, and location.