Principal Associate, Sourcing Manager

Capital One; Richmond (VA); On-site; USD 110,000 - 125,000; Full time

Job summary

Capital One is seeking a Principal Associate, Sourcing Manager for the Enterprise Supplier Management (ESM) team in the Richmond, VA area. This individual contributor role develops and executes high risk, high impact procurement across the company, collaborating with business partners to deliver strategic sourcing outcomes in marketing services, professional services, and IT-related services.

The ideal candidate has 3+ years in sourcing and procurement, strong negotiation and analytical skills,

Qualifications

• At least 3 years of experience in sourcing and procurement.
• At least 2 years of experience in risk management.
• At least 2 years of experience in negotiating supplier agreements.
• Experience with RFx, eSourcing, and direct negotiations.

Responsibilities

• Analyze external industry trends and market benchmarks.
• Articulate cost drivers and pricing; lead make-versus-buy decisions.
• Lead innovative sourcing methods balancing cost, speed and quality.
• Build internal and external relationships and identify opportunities.
• Consult with internal clients to drive cost savings and efficiency.
• Communicate buy-in across organization and multiple business lines.
• Manage multiple projects autonomously.
• Develop procurement strategies including RFx, eSourcing, and direct negotiations.
• Utilize procurement software tools.
• Support category strategy development and contract terms.
• Develop communications and executive-level presentations.

Skills

Sourcing and procurement

Risk management

Negotiating supplier agreements

Cost analysis

Stakeholder influence

Project management

Education

Bachelor's Degree or Military Experience

Job description

At Capital One, we dare to dream, disrupt and deliver a better way. Our goal is simple — bring ingenuity, simplicity and humanity to an industry ripe for change. We are seeking a Principal Associate, Sourcing Manager to join our Enterprise Supplier Management (ESM) Team! In ESM, we empower associates to deliver their best by cultivating a culture of inclusion and belonging, where varying perspectives and opinions are valued. We embrace each other’s differences and encourage all team members to lean into their talents and skills to deliver experiences for both internal and external clients.

This Sourcing position will develop strategy for and execute high risk and high impact procurement efforts across the company. This is an individual contributor role. Working in concert with business partners and subject matter experts, the Sourcing Manager will develop an in-depth understanding of client needs and supply markets, then apply rigorous procurement methodology and analytics to ensure those client’s needs will be met by the selected supplier(s). This role will lead projects in indirect categories of spend include, but not limited to Marketing related services, Professional Services, IT related Services.

The selected candidate will have experience in strategic sourcing – ideally in the technology or financial services industry. He or she will have demonstrated the ability to drive positive business outcomes through the supply chain, have great communication and influence skills, high analytical proficiency, and demonstrated ability to negotiate complex agreements.

Responsibilities

• Analyze external industry trends and benchmarks, as well as develop and share market insights
• Clearly articulates cost drivers and pricing analysis for strategy formulation. Leads the development of make–versus-buy strategies
• Leads innovative sourcing methods - balance cost, speed, and quality based on internal customer needs
• Build strong internal and external relationships, understand the procurement parameters and look for new opportunities
• Consult with internal clients and business partners to identify opportunities to drive cost savings and efficiency in the supply chain
• Build buy in and communicate across multiple levels of the organization and across multiple lines of business
• Manage multiple projects concurrently in an autonomous environment
• Develop and implement procurement strategies including RFx, eSourcing, direct negotiations, etc.
• Use procurement software tools
• Support the development and execution of category strategies
• Support the negotiation of commercial terms for large contracts
• Develop communications and presentations at the Executive level

Basic Qualifications

• At least 3 years of experience in sourcing and procurement
• At least 2 years of experience in risk management
• At least 2 years of experience in negotiating supplier agreements

Preferred Qualifications

Bachelor's Degree or Military Experience

• 5+ years of experience in outsourcing and procurement
• 4+ years of experience in risk management

At this time, Capital One will not sponsor a new applicant for employment authorization for this position.

The minimum and maximum full-time annual salaries for this role are listed below, by location. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Capital One is willing to pay at the time of this posting. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked.

• Sales Territory: $109,900 - $125,400 for Principal Assoc., Supply Chain
• Plano, TX: $109,900 - $125,400 for Principal Assoc., Supply Chain
• McLean, VA: $120,800 - $137,900 for Principal Assoc., Supply Chain
• Richmond, VA: $109,900 - $125,400 for Principal Assoc., Supply Chain
• New York, NY: $131,800 - $150,500 for Principal Assoc., Supply Chain
• Riverwoods, IL: $109,900 - $125,400 for Principal Assoc., Supply Chain

Candidates hired to work in other locations will be subject to the pay range associated with that location, and the actual annualized salary amount offered to any candidate at the time of hire will be reflected solely in the candidate’s offer letter.

This role is also eligible to earn performance based incentive compensation, which may include cash bonus(es) and/or long term incentives (LTI). Incentives could be discretionary or non discretionary depending on the plan.

Capital One offers a comprehensive, competitive, and inclusive set of health, financial and other benefits that support your total well-being. Learn more at the Capital One Careers website. Eligibility varies based on full or part-time status, exempt or non-exempt status, and management level.

This role is expected to accept applications for a minimum of 5 business days.

Capital One is an equal opportunity employer (EOE, including disability/vet) committed to non-discrimination in compliance with applicable federal, state, and local laws. Capital One promotes a drug-free workplace. Capital One will consider for employment qualified applicants with a criminal history in a manner consistent with the requirements of applicable laws regarding criminal background inquiries, including, to the extent applicable, Article 23-A of the New York Correction Law; San Francisco, California Police Code Article 49, Sections 4901-4920; New York City’s Fair Chance Act; Philadelphia’s Fair Criminal Records Screening Act; and other applicable federal, state, and local laws and regulations regarding criminal background inquiries.

All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.