Procurement Sourcing Manager Associate - SMBC
Jersey City, NJ 07311
About the Job
SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.
In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC Rail Services LLC, Manufacturers Bank, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.
The anticipated salary range for this role is between $77,000.00 and $115,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.
Role Description
This Strategic Sourcing Manager will report to a Sourcing Category Leader(s) and is responsible for executing on category and supplier spend management strategies for third party supplier spend, executing sourcing projects (competitive bids, single-source negotiations, etc.), and contracting. This role will be focused on professional services.
Role Objectives
Complete the following activities for material sourcing events, as appropriate:
• Work with internal stakeholders to define requirements
• Identify qualified suppliers
• Design and execute the competitive process
• Evaluate competitive offerings from suppliers and develop and present sourcing options that meet SMBCs business requirements
• Conduct commercial term negotiations
• Implement and govern buying channels
• Partner and collaborate with:
• Regional sourcing colleagues
• Internal stakeholders
• Internal Procurement Operations, Third Party Risk and Contract Management
• In-house Legal, Risk and Finance teams
• Maintain compliance with all policy and procedural guidelines
• Identify new opportunities that address or anticipate client needs
Priorities
Ability to effectively challenge the status quo and "build an alliance" to deliver change. Proactive engagement with clients to identify and develop value added opportunities and comprehensive sourcing strategies.
Qualifications and Skills
What we are looking for...
• Bachelor's Degree required with experience in the financial services industry a plus
• 3 to 5 years of professional services sourcing experience
Preferred Qualifications…
• Collaborator and leadership skills
• Ability to adapt and thrive in an evolving environment
• Strong business acumen.
• Strong issue resolution, negotiation, and project management skills.
• Strong people skills.
• Ability to engage with all management levels
Initiative-taking /self-starter with ability to work independently.
• Experience with PowerPoint and Excel pivot tables.
• High level of comfort working with technology.
• Ability to conduct market/industry/supplier analysis and synthesize data into a consumable format
• Experience and proven ability to drive change with management direction by influencing others at all levels within the organization.
• Ability to communicate effectively with internal sourcing and client stakeholders
• Cost Modeling: ability to understand value streams, cost drivers and how to break down cost structures to derive a TCO
• Experience in drafting and redlining contracts. Strong knowledge of the key aspects of the RFI/RFP/RFQ and the sourcing process
This hybrid role will have a defined work location that includes work from home and assigned office days as set by the manager.
SMBC’s employees participate in a hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process.
We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law. SMBC provides reasonable accommodations for employees and applicants with disabilities consistent with applicable law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.
