Senior Category Manager- Banking Ops & Global Services

Truist; Richmond (VA); On-site; USD 145,000 - 152,000; Full time

Benefits offered by this job

Medical insurance

Dental insurance

Vision insurance

401k plan

Paid vacation

Paid holidays

Job summary

Truist is seeking a Senior Category Manager to drive demand and supply management across spend categories. You will develop category strategies, manage supplier relationships, and lead cross-functional sourcing projects to optimize total cost of ownership and risk.

Location requirements include Richmond, VA and other Truist office sites. Ideal candidates have a Bachelor’s degree and 6–10 years in regulated sourcing, with strong negotiation and stakeholder management skills to influence

Qualifications

• Bachelor’s degree is required.
• 6 to 10 years of sourcing experience in regulated organizations.
• Experience with supplier relationships and category strategy.
• Direct management experience of a sourcing/procurement team.

Responsibilities

• Develop and partner with Category Managers to implement category strategies.
• Lead cross-functional teams in RFIs, RFPs, contracts and project plans.
• Perform market data analysis for negotiations and supplier selection.
• Ensure compliance with bank policies and risk controls.
• Drive improvement of vendor performance and spend optimization.

Skills

Negotiation

Stakeholder communication

Project management

Analytical skills

Interpersonal skills

Sourcing strategy

Relationship management

Education

Bachelor’s degree

MBA preferred

Job description

Regular or Temporary: Regular

Language Fluency: English (Required)

Work Shift: 1st shift (United States of America)

Please review the following job description:

Reporting to the Category Director, the Senior Category Manager is responsible for managing all demand management and supply management activities for one or more categories of spend, with the goal of optimizing the total cost of ownership, managing supplier risk, ensuring suppliers adhere to needed timelines, and meeting all business stakeholders’ needs. Serve in a relationship management role with key business/executive partners to drive collaboration, prioritization of business needs for contract support, and ensure engagement of appropriate resources across TSSM to deliver supply value with effective risk mitigation. Actively manage pipeline of projects for team and ensure project delivery to agreed upon timelines and expectations. The Senior Category Manager will be responsible for categories with medium/high spend levels, medium/high strategic importance and/or categories which require strong business relationships with senior-level peers in the LOBs or other business functions. He/she should have a deep understanding of the specific dynamics of category requirements as well as the supply market to be able to develop and execute a fit-for-purpose category strategy for the organization.

Please note: to be considered for this role, candidates must work in one of the following Truist office locations 5 days per week:

• Richmond, VA - 1001 Semmes Avenue
• Charlotte, NC - 214 North Tryon Street
• Greensboro, NC - 7701 Airport Center Drive
• Atlanta, GA - 303 Peachtree Center Avenue

No Full Remote/Telecommute. No Relocation Assistance.

Essential Duties And Responsibilities

• Effectively develop and partner with Category Managers/Directors to implement category strategies with medium/high spend levels, complexity, and strategic importance within his/her portfolio to optimize business efficiency and drive maximum value.
• Develops an understanding of the current category activity within Truist and determines where SSM can have a greater involvement and drive value. Specializes by developing deep expertise within the category(s). Maintains deep understanding of global supply markets, competitors and product innovations.
• Builds strong relationships with ‘internal customers’ and industry suppliers. Partners with Business Leaders and Executives to ensure that sourcing strategies/category plans and execution are aligned with the Business and MoE/ecosystem Goals.
• Leads cross functional teams in the development of category specifications, RFIs, RFPs, contracts, and sourcing project plans.
• Performs market data analysis for negotiations and supplier selection, and leads high-complexity sourcing events. Compiles commodity profile details such as supplier performance, volume forecasts, and design specifications. Analyzes trends and dynamics of supply markets, and prepares commodity-specific performance metrics & dashboards.
• Ensures that best practices in the sourcing process are followed. Execute the full sourcing process which includes development of scope, supplier selection, commercial negotiation, third party risk acceptance and contract execution. Engages risk stakeholders as needed for sourcing activity.
• Drive to remedy inconsistent vendor performance across the enterprise and improve vendor performance/optimizing allocation of spend.
• Promote risk excellence and sound risk management as the first line of defense by driving and owning bank-wide policies including sourcing and purchasing, travel and expense reimbursement and contingent workforce. Also ensure compliance with Bank policies for regulatory directives and other firm-wide policies.
• Promote risk excellence and sound risk management as the first line of defense by driving and owning bank-wide policies including sourcing and purchasing, travel and expense reimbursement and contingent workforce. Also ensure compliance with Bank policies for regulatory directives and other firm-wide policies.
• Actively manage pipeline of projects for team and ensure project delivery to agreed upon timelines and expectations.
• Participates in special projects and performs other duties as assigned.

Qualifications

Required Qualifications:

• A Bachelor’s degree is required
• 6 to 10 years of relevant experience in sourcing (and related functions) with regulated organizations known for the strength of their operational, customer service, and risk excellence.
• Knowledge of the market, suppliers and cost drivers. Demonstrated experience with managing matrixed supplier relationships
• Direct management experience of a sourcing/procurement team function with strategic development responsibilities in Financial Services and/or heavily regulated industry
• Ability to learn content quickly and apply a strategic lens to category spend
• Ability to engage and communication with internal and external stakeholders
• Track record of success in supplier consolidation and driving spend to preferred suppliers
• Subject Matter Expertise in strategic sourcing methodology and techniques
• Demonstrated ability to develop client relationships
• Proficient analytical skills
• Proficient written and verbal communication skills
• Proficient project management and time management skills
• Proficient business acumen
• Proficient negotiation and influencing skills
• Proficient interpersonal skills with the ability to communicate effectively at all levels, particularly at the management level
• Self-motivated, with executive presence and presentation skills

Preferred Qualifications:

• An MBA, Masters in Supply Chain and industry certifications are preferred
• Ideally, this experience should be broad based involving several of the following functions: procurement, sourcing and third party management

The annual base salary for this position is 145K-$152K

Additional incentive pay is available for this position

General Description of Available Benefits for Eligible Employees of Truist Financial Corporation:

All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position. Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates. Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays. For more details on Truist’s generous benefit plans, please visit our Benefits site. Depending on the position and division, this job may also be eligible for Truist’s defined benefit pension plan, restricted stock units, and/or a deferred compensation plan. As you advance through the hiring process, you will also learn more about the specific benefits available for any non-temporary position for which you apply, based on full-time or part-time status, position, and division of work.

Truist is an Equal Opportunity Employer that does not discriminate on the basis of race, gender, color, religion, citizenship or national origin, age, sexual orientation, gender identity, disability, veteran status, or other classification protected by law. Truist is a Drug Free Workplace.

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