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Senior Procurement Sourcing Specialist (Hybrid)

Company: M&T Bank
Location: Bridgeport
Posted on: November 21, 2022

Job Description:

This role offers a hybrid work schedule; offering the flexibility to work remotely two days a week, while providing the opportunity for in-person collaboration.Overview: The successful candidate would be capable of independently leading cross functional project teams to procure goods and services for the IT Division consistent with the corporate selection process. -The process is designed to maximize competition, leverage buying power, and mitigate risk. Typically, initiatives assigned to this role are directly tied to key priorities and have an annual spend of $1M - $10M. Outcomes have a significant impact to business objectives and M&T's bottom line.

Primary Responsibilities:

  • Build relationships with internal stakeholders within the IT department to understand business models and desired outcomes.
  • Partner with IT Managers to develop and execute IT vendor strategy, including assessing build vs buy.
  • For major sourcing initiatives, work with management to identify an Executive Sponsor and a cross-functional project team to ensure appropriate buy-in, support and participation throughout the project.
  • Guide the Project Team through the Strategic Sourcing process and keep the Executive Sponsor and relevant senior managers informed of progress, setbacks and obstacles.
  • Develop and execute Requests for Proposals (RFPs), Requests for Quotes (RFQs) and/or Requests for Information (RFIs) based on identified business needs, market conditions and corporate standards.
  • Facilitate analysis, evaluation and scoring of vendor proposals against criteria established and agreed on by the Team.
  • Conduct multiple rounds of bids and coordinate activities such as supplier demonstrations, reference calls and on-site visits to short-list vendors.
  • Lead contract negotiations in conjunction with the Project Team and Legal to ensure we obtain the most competitive pricing and favorable terms possible.
  • Support the development of comprehensive project summaries to assess the costs, benefits, and ROI of proposed supplier solutions.
  • Partner with Technology Finance to achieve long term optimization of supplier expenses across the IT organization.
  • Guide business and support units through the Third-Party Risk Management Program in conjunction with the Third-Party Risk Management team to ensure selected vendors are properly risk tiered, vetted and approved before executing a contract.
  • Analyze supplier spend data with external industry benchmarks, trends, and technology changes to develop savings opportunities.
  • Understand and adhere to the Company's risk and regulatory standards, policies and controls in accordance with the Company's Risk Appetite. - Identify risk-related issues needing escalation to management.
  • Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
  • Promote an environment that supports diversity and reflects the M&T Bank Brand
  • Complete other related duties as assigned.Education and Experience Required:
    • Bachelor's degree and a minimum of 4 years' proven financial and/or business experience, or in lieu of a degree, a combined minimum of 8 years' higher education and/or work experience, including a minimum of 4 years' proven financial and/or business experience
    • Experience with Strategic Sourcing Processes
    • Experience with industry leading IT suppliers
    • Thorough understanding of IT Functional areas- to include, but not limited to: Public and Private Cloud environments, Distributed and Mainframe Computing, Storage, End-User Computing, IT Service Desk, Application Development, Application Support, Voice & Data Networks, and Cybersecurity
    • Thorough understanding of the pricing models and cost components involved in Hardware, Software, Cloud Solutions, and Services
    • Strong verbal and written communication skills
    • Must be detail oriented, yet should be able to articulate complex situations at a very high-level easily and quickly
    • Strong analytical skills
    • Strong presentation skills
    • Experience writing Requests for Proposal (RFPs) and negotiating contracts

      Education and Experience Preferred:MBA (Master's degree in Business Administration)Minimum of 6 years' proven financial and/or business experienceLocationBridgeport, Connecticut, United States of America

Keywords: M&T Bank, Bridgeport , Senior Procurement Sourcing Specialist (Hybrid), Accounting, Auditing , Bridgeport, Connecticut

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