•Strategic Sourcing & Category Management: - Support development and execution of category strategies aligned with organizational objectives, leveraging market insights and AI-driven analytics to identify opportunities for cost savings, value creation, and risk mitigation.
•Conduct in-depth spend analysis and market research, utilizing AI tools to uncover patterns, forecast demand, and inform strategic sourcing decisions.
•Manage the full category lifecycle, including supplier selection, RFx processes, contract negotiation and partner with business owners on the implementation, and ongoing performance management.
•Incorporate total cost of ownership into negotiation strategies and drive continuous improvement within assigned categories.
•Support compliance to the Firmwide Third Party Risk and Control Framework and associated programs
•Engage with Risk Partners across the organization (e.g., compliance, legal, technology), as needed to manage risks and drive resolution of Strategic Sourcing issues
•Stakeholder Management & Influence: - Serve as a primary point of contact and strategic advisor for assigned business partners, translating business goals and risk appetite into effective sourcing strategies.
•Build and maintain strong, collaborative relationships with internal stakeholders across various departments (e.g., Finance, IT, Legal, Operations) to ensure cross-functional alignment and successful strategy execution.
•Facilitate cross-functional alignment and provide executive updates, gaining consensus among diverse stakeholders through clear and compelling communication.
•Influence decision-making and drive strategy alignment by presenting data-driven insights and recommendations to leadership.
•Commercial Acumen & Negotiation: - Demonstrate strong commercial acumen, understanding cost structures, licensing models, contract terms, and financial levers to drive value-based procurement decisions.
•Lead and support negotiations with suppliers to secure optimal pricing, terms, and innovation while preserving long-term strategic relationships.
•Analyze complex procurement challenges, synthesize data, evaluate trade-offs, and develop sound, objective recommendations that balance business needs, risk and commercials.
•Liaise with legal teams to draft and negotiate contract terms while ensuring appropriate contract structures, pricing models, vendor incentive models, service level agreements and performance indicators are applied consistently across vendors
•Monitor market dynamics, including consumer preferences, industry trends, and regulatory changes, adjusting category strategies accordingly.
•AI-Enabled Sourcing Environment: - Actively leverage AI to support understanding of spend, supplier performance, risk monitoring, and contract intelligence.
•Utilize AI-driven insights to optimize purchasing decisions, manage risks, and enhance supplier collaboration and innovation.
•Embrace and adapt to new AI tools and technologies that streamline procurement processes, from demand forecasting to automated contract analysis.
Competencies:
•Functional Expertise – Understanding of strategic procurement, category management approach and procurement value proposition
•Strategic Mindset – Ability to effectively create category strategies and influence key stakeholders on sourcing decisions. Needs to clearly understand and articulate the Procurement value proposition and demonstrate clear strategic thinking / intent. Ability to analyze complex problems, develop innovative solutions, and contribute to long-term strategic planning.
•Technical Skills – Demonstrate strong technical skills required for the role including project management, supply chain management, sourcing and procurement and financial/analytical skills.
•Drive and Motivation – Successfully handles multiple tasks, operates at pace, takes initiative to improve his/her own performance, works resiliently towards challenging goals, persisting in the face of obstacles.
•Client and Business Focus – Strong stakeholder engagement skills. Effectively handles difficult requests, builds trust, long-term relationships with clients, helps the client to identify/define needs and manages client/business expectations
•Teamwork – Is a strong team player by collaborating with others within and across teams, encouraging other team members to participate and contribute and acknowledging others' contributions
•Technology Adoption : Embraces and adapts to new AI tools and technologies that streamline procurement processes, from demand forecasting to automated contract analysis.
