Procurement Sourcing Category Strategist

Regions Bank; Nashville (TN); On-site; USD 94,000 - 115,000; Full time

Benefits offered by this job

Paid vacation/sick time

401K with company match

Medical, dental, and vision benefits

Disability benefits

Health Savings Account

Flexible Spending Account

Life Insurance

Parental Leave

Employee Assistance Program

Job summary

Regions is seeking a Procurement Sourcing Category Strategist to lead complex sourcing initiatives and vendor engagements within cross-functional teams. You will drive expense reduction, evaluate proposals, and guide business stakeholders through procurement decisions.

The role interacts with senior leaders to deliver outcomes, requires a business degree with extensive procurement experience, and offers an incentive plan in addition to a comprehensive benefits package. Birmingham, AL location.

Qualifications

• Bachelor’s degree in Business, Supply Chain/Engineering, Procurement, or related field and seven (7) years of experience in procurement or related field
• Or High School Diploma or GED and eleven (11) years of experience in procurement or related field
• Professional certification in Supply Chain, Procurement, or related field
• MBA or related degree preferred

Responsibilities

• Utilizes strategic sourcing approach to determine and prepare request for proposals (RFP)/competitive bid requirements, solicits responses, analyzes responses, prepares recommendation and negotiates contracts to enhance efficiencies and reduce costs
• Utilizes the ability to execute the bank’s competitive bidding process and leads strategic sourcing activities for assigned areas
• Develops cross-functional teams and business objectives; identifies bidding suppliers, sets up the RFP in the bank’s P2P system, executes the RFP/competitive bid with suppliers, and works with business stakeholders to develop recommendations
• Partners with key stakeholders and senior leaders in proactively identifying expense reduction opportunities as it relates to suppliers
• Analyzes market industry conditions and develops plans to procure goods not related to information technology vendors
• Communicates corporate procurement standards to vendors and business partners
• Completes and executes RFPs and/or contracts that meet the company’s business and legal requirements
• Offers advice and guidance to junior consultants, assisting in the development of necessary skills and the promotion of continuous improvement initiatives
• May serve as team lead or supervise entry level procurement consultants
• May partner with Procurement Strategic Sourcing Technology Consultant on projects

Skills

Strategic sourcing

RFP management

Contract negotiation

Vendor management

Cross-functional collaboration

Microsoft Office

Education

Bachelor's degree in Business or related field

High School Diploma with 11+ years experience

Tools

P2P system

Procurement software

Job description

Thank you for your interest in a career at Regions. At Regions, we believe associates deserve more than just a job. We believe in offering performance-driven individuals a place where they can build a career --- a place to expect more opportunities. If you are focused on results, dedicated to quality, strength and integrity, and possess the drive to succeed, then we are your employer of choice.

Regions is dedicated to taking appropriate steps to safeguard and protect private and personally identifiable information you submit. The information that you submit will be collected and reviewed by associates, consultants, and vendors of Regions in order to evaluate your qualifications and experience for job opportunities and will not be used for marketing purposes, sold, or shared outside of Regions unless required by law. Such information will be stored in accordance with regulatory requirements and in conjunction with Regions’ Retention Schedule for a minimum of three years. You may review, modify, or update your information by visiting and logging into the careers section of the system.

Job Description

At Regions, the Procurement Sourcing Category Strategist provides day-to-day management of larger, more complex sourcing initiatives within a cross functional team. This position will generally have responsibility for leading certain expense reduction efforts and associated vendor related engagements for certain business units or strategic categories to effectively support the delivery if business outcomes and demonstrate competencies to have responsibility for larger vendor engagements or more complex projects. Associates in this role interact daily with senior and executive level associates within business units to accomplish objectives.

Primary Responsibilities

• Utilizes strategic sourcing approach to determine and prepare request for proposals (RFP)/competitive bid requirements, solicits responses, analyzes responses, prepares recommendation and negotiates contracts to enhance efficiencies and reduce costs
• Utilizes the ability to execute the bank’s competitive bidding process and leads strategic sourcing activities for assigned areas
• Utilizes the ability to develop cross-functional teams and business objectives; identifies bidding suppliers, sets up the RFP in the bank’s P2P system, executes the RFP/competitive bid with suppliers, and works with business stakeholders to develop recommendations
• Partners with key stakeholders and senior leaders in proactively identifying expense reduction opportunities as it relates to suppliers
• Analyzes market industry conditions and develops plans to procure goods not related to information technology vendors
• Communicates corporate procurement standards to vendors and business partners
• Completes and executes RFPs and/or contracts that meet the company’s business and legal requirements
• Offers advice and guidance to junior consultants, assisting in the development of necessary skills and the promotion of continuous improvement initiatives
• May serve as team lead or supervise entry level procurement consultants
• May partner with Procurement Strategic Sourcing Technology Consultant on projects

This position is exempt from timekeeping requirements under the Fair Labor Standards Act and is not eligible for overtime pay.

This position is incentive eligible.

Requirements

• Bachelor’s degree in Business, Supply Chain/Engineering, Procurement, or related field and seven (7) years of experience in procurement or related field
• Or High School Diploma or GED and eleven (11) years of experience in procurement or related field

Preferences

• Professional certification in Supply Chain, Procurement, or related field
• Master of Business Administration (MBA) or related degree

Skills And Competencies

• Ability to lead associates to desired outcomes through influence and buy-in
• Ability to learn additional systems as needed
• Ability to research, analyze data, and derive facts
• Ability to work in a team environment when applicable
• Ability to work under pressure and meet deadlines
• Demonstrated ability to execute RFPs and/or competitive bids
• Demonstrated ability to negotiate with suppliers and internal customers to maximize value, ensure standardization, successfully resolve disputes, and drive optimal outcomes
• Demonstrated negotiation skills
• Developed relationship-building skills
• Proficiency in Microsoft Office (Excel, Word, PowerPoint, Outlook, etc.)
• Strong verbal, written communication, and organizational skills
• Strong work ethic and self-motivation

Preferred Procurement experience in the following spaces:

Corporate / Consumer Banking, Wealth Management, Treasury Management, Enterprise Payments, Wealth Management.

Position Type

Full time

Compensation Details

Pay ranges are job specific and are provided as a point-of-market reference for compensation decisions. Other factors which directly impact pay for individual associates include: experience, skills, knowledge, contribution, job location and, most importantly, performance in the job role. As these factors vary by individuals, pay will also vary among individual associates within the same job.

The target information listed below is based on the Metropolitan Statistical Area Market Range for where the position is located and level of the position.

Minimum

$104,869.60 USD

Median

$143,010.00 USD

Incentive Pay Plans

This role is eligible to participate in the annual discretionary incentive plan. Employees are eligible to receive a discretionary award based on individual, business, and/or company performance.Opportunity to participate in the Long Term Incentive Plan.

Benefits Information

Regions offers a benefits package that is flexible, comprehensive and recognizes that "one size does not fit all" for benefits-eligible associates. Listed below is a synopsis of the benefits offered by Regions for informational purposes, which is not intended to be a complete summary of plan terms and conditions.

• Paid Vacation/Sick Time
• 401K with Company Match
• Medical, Dental and Vision Benefits
• Disability Benefits
• Health Savings Account
• Flexible Spending Account
• Life Insurance
• Parental Leave
• Employee Assistance Program
• Associate Volunteer Program

Please note, benefits and plans may be changed, amended, or terminated with respect to all or any class of associate at any time. To learn more about Regions’ benefits, please click or copy the link below to your browser.

https://www.regions.com/about-regions/welcome-portal/benefits

Location Details

Regions Center

Location:

Birmingham, Alabama

Equal Opportunity Employer/including Disabled/Veterans