Strategic Sourcing Analyst (Software / Professional Services) - 2647664 - Lighthouse Technology Services

*Hybrid Contract Opportunity*

Lighthouse Technology Services is partnering with our client to fill their Strategic Sourcing Analyst (Software / Professional Services) position! This is a 7+ month contract opportunity and will work Hybrid on site in Buffalo, NY. This employee will be a W2 employee of Lighthouse Technology Services.

What You'll Be Doing:

• For 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 Strategic Sourcing process and keep the Executive Sponsor and relevant senior managers informed of progress, setbacks, and obstacles.
• Lead a kick-off meeting with the Project Team to clarify the objectives, strategy, and proposed timeline of the sourcing initiative.
• 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 upon by the team.
• Conduct multiple rounds of bids and coordinate activities such as vendor demonstrations, reference calls, and on-site visits to shortlist vendors.
• Lead contract negotiations in conjunction with the Project Team and Legal to ensure we obtain the most competitive pricing and favorable terms possible.
• Prepare sufficient documentation to inform the Executive Sponsor and senior managers of recommendations and results of the sourcing initiative, including any achieved savings, customer implications, and impacts on business operations.
• 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.
• Research and analyze procurement trend data at the Bank and recommend savings opportunities to associated business lines and support functions.
• 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.

What You'll Need to Have:

• 3-5+ years of experience with Sourcing analysis on Software and Professional Services.
• Financial Services or highly regulated (insurance/healthcare) industry experience.
• Understanding of sourcing analysis as related to procurement and business lines
• Strong project management skills for leading sourcing initiatives and managing cross-functional teams.
• Proven contract negotiation expertise to secure competitive pricing and favorable terms.
• Experience in developing and executing RFPs, RFQs, and RFIs based on business needs.
• Ability to analyze vendor proposals and make data-driven recommendations.
• Knowledge of third-party risk management and vendor compliance processes.

Pay Range: $25-32/hr

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