Director - Strategic Sourcing

Flagstar Bank; Michigan; On-site; USD 144,000 - 249,000; Full time

Benefits offered by this job

Benefits including medical, dental, &

Job summary

Flagstar Bank is seeking a Director of Strategic Sourcing to lead category strategy, drive cross-functional sourcing efforts, and optimize third-party spend. You will champion risk management, ensure contractual governance, and deliver TCO savings across technology, banking services and enterprise support.

The role emphasizes leadership, analytics, and best-in-class procurement processes aligned with Bank objectives and regulatory guidelines.

Qualifications

• Undergraduate degree in Supply Chain Management, Finance, Accounting, Business Administration or related field.
• 10+ years in supply chain management, contract negotiation, vendor management in a regulated financial environment.
• Deep category knowledge in Technology, Banking Services, and/or Enterprise Support including risk, finance, facilities.

Responsibilities

• Lead strategic sourcing of vendors and drive best commercial outcomes through bidding, negotiation and market studies.
• Develop and execute category plans with SLAs/KPIs and cross-functional collaboration.
• Analyze spend, identify opportunities, and manage enterprise-wide supplier relationships and risk.
• Direct complex sourcing programs, change management, and continuity initiatives.
• Partner with Operations, Legal, Tax, Finance and business units to achieve cost and quality goals.
• Manage staffing, performance, training and compliance with regulatory requirements.

Skills

Strategic sourcing

Vendor management

Contract negotiation

Financial analysis

Stakeholder management

Regulatory compliance

Project management

Excel

Coupa/CLM

Education

Undergraduate Degree in Supply Chain Management, Finance, Accounting, Business Administration or related field

Tools

Coupa

Contract Lifecycle Management

ERP systems

Microsoft Office

Job description

Job Summary

Responsible for leading and building best in class strategic sourcing category support which includes: developing strategy; leading and directing teams in support of categories; establishing category plans for the collective group of spend categories to drive total cost of ownership savings; risk mitigation; leading the development and execution of reporting and tracking mechanisms; reporting on sourcing strategies and performance; driving cross-functional category teams in change management and supply/service continuity; defining procurement requirements, SLAs/KPIs and operational needs.

Position Title

Director - Strategic Sourcing

Location

Troy, MI 48098

Provides thought leadership and overall direction to Sourcing teams with regards to its suppliers with the effective utilization of Strategic Sourcing, Procurement and Contract Management. Charged with implementing the strategic vision and direction of Strategic Supply Management in support of and alignment with Bank objectives. Will have a keen focus on effectively managing third-party risk through a consistently applied and sound managed sourcing/contracting process, effective contracts and corporate governance and controls. Is expected to have a broad organizational impact in identifying key process needs and address changes needed to effectively support company strategies to manage consumption and demand in the context of controlling expenses for specific categories as a component of tens to hundreds of millions in third-party spend.

Job Responsibilities

• Business Line Support: Work with key business partners and senior leadership to understand strategic direction, supply requirements and corporate business objectives and priorities. Drive thought leadership in categories providing market and industry intelligence, innovation and best practices to include negotiating & managing contracts. This position is responsible for the strategic sourcing of vendors by identifying vendors for bidding procedures to drive the best possible commercial outcome for the Bank and for negotiations when single-sourced opportunities require negotiation. This includes comparing vendor proposals to industry benchmarks and assisting the business unit in producing market studies to justify price and vendor selection. Plans, develops, directs, and implements complex business strategies through the establishment of short/long-range objectives, change management, performance goals, and metrics for each spend category. Collaborates with Operations, Legal, TPM/SMEs, Tax, Finance, the Business Units, and other stakeholders as needed to champion enterprise wide cross-functional sourcing initiatives.
• Identifying savings opportunities: Responsible for optimizing committed spends on behalf of the company by directing spend analysis across commodity categories and working with various business units throughout the Bank to proactively identify opportunities for enterprise-wide relationship management and commodity specific optimization of spend.
• Analytical reporting: Lead the utilization of appropriate analysis methods used in the decisioning process that helps to decipher and determine vendor consideration, selection and performance. e.g. Total Cost of Ownership (TCO), commodity or service matrix comparisons, risk profiles and quality considerations. Assures proper analysis and application of internal and external industry specific research information to determine Bank direction in designated categories including reasons for pricing increases and/or decreases. Conducts benchmarking, financial and business analytics for long range pricing and buy rationalizations.
• Problem resolution: Assist the business unit in problem, cause & solution resolution and to assist where appropriate in solving and or mitigating problems and problems associated with vendors, their services and products.
• Special Projects: Special projects and program management as assigned which will include: OCC/Regulator audit, Internal Audit, Coupa CRA, alignment with end-to-end Source to Pay, Diversity and Inclusion activity reporting, and Bank M&A activity
• Employee / Staff Mgmt: Responsible for talent management functions including: employment, performance evaluations, staff development/training, disciplinary actions, succession planning and ensuring all staff comply with compliance requirements.

Additional Accountabilities

• Performs special projects, and additional duties and responsibilities as required.
• Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance training. Accountable to maintain compliance with applicable federal, state and local laws and regulations.

Job Requirements

Required Qualifications

• Education level required: Undergraduate Degree (4 years or equivalent) in Supply Chain Management, Finance, Accounting, Business Administration or related field.
• Minimum experience required: 10+ Years supply chain management, contract negotiation, vendor management, and third-party management within a highly regulated environment for large scale financial/banking, mortgage origination/servicing organizations.
• Specific and deep category knowledge and experience in either Technology, Banking Services, and/or Enterprise Support including Risk, Finance and Facilities/Corporate Real Estate.

Preferred Qualifications

• Education level preferred: Master's Degree (or Postgraduate equivalent) Graduate Degree strongly preferred (JD, MBA, MS)

Job Competencies

• Strong working knowledge and experience with OCC, FFIEC, FRB and/or other regulatory guidelines and requirements.
• Strong understanding and experience in highly effective supplier/third party management activities: 6- or 7-step Strategic Sourcing process including market analysis, supplier identification, selection, negotiation, contracting, risk management, relationship management, financial management, performance management and contract management.
• Experience with Coupa or other Contract Lifecycle Management, Sourcing, Procurement and/or ERP related systems and tools.
• Proficient to advanced skills with Excel, Word, Powerpoint and Outlook.
• Ability to productively interact with internal and external levels of management that will include: Bank officers, vendor account relationship managers, Bank senior and executive level individuals, and/or vendor principles and ownership.
• Ability to work with key business partners and senior leadership to understand strategic direction, supply requirements and corporate business objectives and priorities. Drive thought leadership for Bank vendor spend and categories providing market and industry intelligence, innovation and best practices.
• Ability to deliver consistent delivery of positive results to ensure strategic direction, operational, regulatory compliance, risk, cost and quality goals are achieved.
• Ability to use best judgment and discretion in solving issues and/or satisfying overall Bank together with stakeholder needs when corporate policy and procedures appear absent or silent on the issue(s).
• Analytical and passionate in thinking and building vendor spend and opportunity analyses to drive meaningful cost savings across the Bank.
• Demonstrated capability with excellent verbal and written communication skills, project management, strong analytical and problem-solving skills, multi-tasking in a fast-paced environment and general leadership/management skills.
• Self-motivated, takes initiative and has the ability to effectively organize, multi-task, and prioritize a wide-array of initiatives and consistently deliver timely results.
• Understands the importance of relationships to enable effective teamwork. Modifies personal style, focuses on the needs of others, and listens effectively to ensure effective outcomes for group endeavors.
• Takes a dynamic approach to work characterized by initiating decisions and actions. Concentrates on achieving the outcomes of a process or project while adhering to the overall strategy of the organization. Creates a culture of accountability and performance.
• Demonstrates attributes of ethical behaviors, high personal standards, and sound work ethic all employers should expect of employees. Consistently treats others with respect and understanding. Responds in a timely manner to all customers and co-workers.
• Demonstrates a strong ability to build and maintain effective relationships with stakeholders by communicating clearly, engaging in proactive collaboration, and leveraging cross functional insights. Aligns relationship building efforts with enterprise goals to accelerate performance and drive strategic results.
• Builds trusted client relationships, whether internal or external, by identifying needs and delivering tailored solutions to enhance the overall client experience.
• Fosters or supports a positive work culture and productive work environment, displaying importance of effective relationships with customers and stakeholders.
• Travel: up to 20%
• Physical demands (ADA): The job requires a moderate degree of physical exertion and stamina such as standing, walking, driving or infrequent lifting.

Flagstar is an Equal Opportunity Employer

We are committed to providing clear and accurate compensation information in accordance with applicable laws. Actual starting base pay will be determined based on location, experience, and other non-discriminatory factors permitted by law. Total compensation may also include variable incentives, bonuses, commissions, or other awards as outlined in the offer of employment. Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program.

Pay Range

• $144,417.75 - $249,268.00

Qualified applicants with arrest or conviction records will be considered for employment in accordance with the California Fair Chance Act, the Los Angeles County Fair Chance Ordinance, the City of Los Angeles Fair Chance Initiative for Hiring Ordinance, and the San Francisco Fair Chance Ordinance, as appliable.