Senior Sourcing Manager
Sr. Sourcing Manager
This individual will be responsible for executing the category strategy and product/service sourcing process, while providing input for continuous process improvement in those areas. This person will also be responsible for ongoing supplier governance of third-party providers within the Assurant Corporate Sourcing Category, including HR, Legal, Finance, etc.
Category Strategy Execution
Support continuous improvement of Category Strategy, adjusting to shifts in business objectives, changes in vendor capabilities and dynamic market / macro-economic conditions.
Develop subject matter expertise of Corporate operations / business units and the suppliers contributing to the value chain. This includes an in-depth knowledge of existing operating model & processes, functional performance metrics and supplier service levels, and enabling technologies.
Help to define the total cost of operations, identifying potential synergies across processes and suppliers, and mitigating potential performance and compliance risks.
Execute category strategy tenets to maximize the value from suppliers’ goods and services, prevent leakage through adherence to contract and commercial terms, mitigate risks associated with supplier relationship, and actively manage / track cost savings.
Develop financial business cases for strategic sourcing opportunities.
Partner with existing and new suppliers to develop innovative solutions to solve business problems facing Corporate teams.
Lead sourcing projects and supplier negotiations.
Provide expertise to support all activities related to the Contract Lifecycle Management (negotiation tactics, insights regarding contractual/Legal matters of significance to the organization etc.).
Develop and negotiate innovative contract terms and commercial structures that protect the interests of internal stakeholders while incentivizing the supplier performance.
Help lead and execute supplier governance inclusive of:
Contract Management – adherence to terms and conditions, processing renewals, addition of new services, change requests
Financial Management – budget planning and forecasting, invoice reconciliation and payment management, reward / penalty calculation and enforcement
Performance Management – service level agreement monitoring & adherence, manage performance corrective action plans
Relationship Management – escalation / issue resolution, leverage supplier’s full set of capabilities / offerings to expand relationship
Serve as supplier specific subject matter expert pertaining to supplier contract terms, commercial structures and performance expectations.
Maintain knowledge of industry & regulatory trends and apply learnings / best-practices to supplier product management and service delivery.
Effectively operate in complex, matrixed organization where partnership and collaboration with multiple stakeholders is required to ensure transparent flow of information, manage expectations around process capabilities / limitations, and to achieve desired outcomes.
Establish relationships / partnerships with internal customers to ensure utilization of Procurement Services for all sourcing needs and supplier governance support.
Orchestrate and facilitate governance meetings between internal stakeholders and suppliers to create meaningful and valuable engagement on both sides.
Build and maintain excellent relationships with internal clients and colleagues at all levels.
Mentor and coach internal stakeholders and suppliers on governance processes and risk management.
Partner with on-/off-shore resources from Procurement Managed Service Provider for various sourcing related activities (benchmarking, RFx, contracting, etc.).
Utilize off-shore business and process analysis resources to performance various supplier governance related activities.
Responsible for developing solutions to help meet operational budget targets.
Forecasting supplier spend and tracking / validation of planned savings.
Support reconciliation, validation against commercial terms, and ultimate payment of supplier invoices for goods and services delivered.
Tracking of cost savings achieved through sourcing and operational efficiencies.
Minimum Bachelor’s degree from an accredited institution
5 years relevant experience in (a) sourcing / procurement/ vendor management at large multinational companies or (b) shared services and outsourcing advisory or operational consulting
Financial acumen with 3 or more years of experience in roles developing business cases for sourcing programs and/or outsourcing services (client or provider)
Hands-on experience in negotiating complex contracts
Knowledge and Skills
Proven track record in outsourcing benchmarking, market analyses and contract negotiations
Master knowledge of industry standard / best-in-class contract terms and conditions (T&C), especially around information securing and risk management
Advanced problem solving and critical thinking skills in a team environment
Excellent interpersonal, facilitation, communication and influencing skills especially with senior level executives
Demonstrated ability to function in a team environment and highly matrixed, global environment
Strong financial acumen; ability to understand outsourcing impact to P&L, ability to develop complex business cases & continually assess/determine total cost of ownership at both a functional level and supplier level
Strong Excel modeling skills and PowerPoint presentation skills
Evidence of successful management of large programs and projects
Bachelor’s degree in business, finance, economics, industrial engineering, supply chain or equivalent
MBA/MS degree preferred
Knowledge and Skills
Proven ability to multi-task
Strong oral, written, and organizational skills
Independent thinking, good judgment and creative problem-solving skills
Strong business planning skills
Strong knowledge of project management
Sourcing of 3rd party labor and IT services
Management consulting experience or sourcing / procurement experience at large multinational firms
Experience in process transformation, cost reduction and global delivery model strategy highly desirable
Strong background in working on enterprise wide projects for large complex organizations, preferably in financial services or insurance industry.
Outsourcing governance and strategy from leading industry associations e.g. IAOP, HFS, etc.
Certifications in Project management desirable
Pay Range:$84,100.00 - $140,500.00
Any posted pay range considers a wide range of compensation factors, including candidate background, experience and work location, while also allowing for salary growth within the position.
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What’s the culture like at Assurant?
Our unique culture is a big reason why talented people choose Assurant. Named a Best/Great Place to Work in 13 countries and awarded the Fortune America’s Most Innovative Companies recognition in 2023, we bring together top talent around the world. Although we have a wide variety of skills and experiences, we share common characteristics that are uniquely Assurant. A passion for service. An ability to innovate in practical ways. And a willingness to take chances. We call our culture The Assurant Way.
Assurant is a leading global business services company that supports, protects, and connects major consumer purchases. A Fortune 500 company with a presence in 21 countries, Assurant supports the advancement of the connected world by partnering with the world’s leading brands to develop innovative solutions and deliver an enhanced customer experience through mobile device solutions, extended service contracts, vehicle protection services, renters insurance, lender-placed insurance products, and other specialty products.
Equal Opportunity Statement
Assurant is an Equal Employment Opportunity employer and does not use or consider race, color, religion, sex, national origin, age, disability, veteran status, sexual orientation, gender identity, or any other characteristic protected by federal, state, or local law in employment decisions.