Senior Manager - Strategic Sourcing

UFCU Financial Services, LLC; Austin (TX); On-site; USD 100,000 - 130,000; Full time

Job summary

A regional financial services provider in Austin, Texas is seeking a Senior Manager - Strategic Sourcing to lead procurement and accounts payable operations. This role requires a seasoned leader with over 7 years of experience in strategic sourcing and vendor management. Responsibilities include developing sourcing strategies, overseeing vendor payments, and ensuring compliance with financial regulations. The ideal candidate will have strong analytical skills, contract negotiation experience, and a background in financial services.

Qualifications

• Strong expertise in strategic sourcing, procurement, and contract negotiation.
• Experience in financial services, credit unions, or regulated industries.
• Ability to balance cost, risk, service quality, and operational efficiency.

Responsibilities

• Lead procurement and accounts payable team to deliver operational excellence.
• Develop and execute sourcing and procurement strategies.
• Oversee AP operations and ensure strong internal controls.

Skills

Strategic sourcing

Contract negotiation

Vendor management

Financial controls

Analytical skills

Communication skills

Education

Bachelor’s degree in Supply Chain, Business Administration, Finance or related field

7+ years in strategic sourcing or vendor management

5+ years of management experience

Tools

Procurement tools

Vendor management tools

Job description

The Senior Manager - Strategic Sourcing leads the organization’s procurement, sourcing, and accounts payable (AP) functions to ensure strong financial stewardship, operational efficiency, and risk‑aware vendor relationships. This role oversees the end‑to‑end sourcing and purchasing lifecycle, while also ensuring timely, accurate, and well‑controlled vendor payments. The position leads and develops a team of vendor managers and procurement and AP professionals, aligning people, processes, and supplier strategy to deliver cost optimization, service excellence, regulatory compliance, and strong internal controls.

The position partners closely with Finance, Risk Management, Legal, IT, Compliance, and business leaders to ensure vendors meet credit union standards for security, performance, resilience, and value.

Essential Functions

Leadership & Cross‑Functional Partnership

• Develop, coach, and lead an effective, high‑performance procurement and AP team
• Set clear performance expectations and foster a culture of accountability and continuous improvement.
• Partner with Finance, Risk, Legal, IT, and business units to align sourcing and payment activities with enterprise strategy.
• Present procurement and AP insights, risks, and opportunities to leadership

Strategic Sourcing

• Develop and execute enterprise sourcing and procurement strategies aligned with organizational goals.
• Lead competitive sourcing initiatives (RFPs, RFIs, RFQs) to secure best‑value solutions.
• Oversee contract negotiations, including pricing, service levels, risk provisions, and termination terms.
• Partner with business owners to define requirements and ensure sourcing decisions meet operational needs.
• Establish category management, spend analytics, and savings tracking.
• Continuously assess vendor market trends and benchmark supplier performance to ensure ongoing alignment with market and business expectations.

Procurement & Accounts Payable Operations

• Standardize procurement workflows, approval thresholds, and documentation.
• Promote ethical procurement practices and adherence to delegation‑of‑authority policies.
• Oversee end‑to‑end AP operations, including invoice intake, approvals, disbursements, reconciliations, and vendor inquiries.
• Ensure strong internal controls, segregation of duties, and audit readiness.
• Drive AP process optimization, automation, and electronic payments.
• Monitor AP metrics (aging, cycle time, exception rates, discount capture).

Vendor & Third‑Party Partnership Enablement

• Collaborate with vendor management and risk partners to support vendor onboarding, performance monitoring, and contract compliance.
• Support service performance reviews and vendor scorecards.
• Identify and elevate vendor‑related financial, operational, or compliance risks.
• Contribute to continuous improvement of vendor and procurement governance practices.

Governance, Compliance & Controls

• Maintain policies, procedures, and documentation for procurement and AP processes.
• Ensure compliance with internal policies, regulatory expectations, and audit requirements.
• Support the organization’s Three Lines of Defense model through strong first‑line ownership.
• Drive maturity in sourcing, procurement, and payment controls.

Other

• Adhere to all company policies, procedures and business ethics codes.
• Complete required regulatory training as assigned.
• Maintain strict adherence and compliance to all laws, rules, regulations and internal controls specific to your role, including but not limited to Bank Secrecy Act, Anti‑Money Laundering, USA Patriot Act, OFAC and Fair Lending regulations.

Knowledge, Skills & Abilities

• Strong expertise in strategic sourcing, procurement, and contract negotiation.
• Working knowledge of accounts payable operations and financial controls.
• Experience with spend analytics, vendor management, and process improvement.
• Strong business judgment, analytical skills, and attention to detail.
• Ability to balance cost, risk, service quality, and operational efficiency.
• Excellent communication and stakeholder‑management skills.
• Experience in financial services or regulated environments preferred.
• Strong analytical, financial acumen, and problem‑solving capabilities.

Core Competencies

• Delivering Member Obsession
  • Seeks to understand customers
  • Identifies customer service issues
  • Drives member‑focused practices
  • Assures member satisfaction
• Delivering Performance Excellence
  • Maintains focus
  • Measures progress and outcome
  • Ensures accountability
• Challenges current thinking
• Advances ideas to the next stage
• Delivering Empowered Leadership
  • Develops direction
  • Builds team trust
  • Identifies opportunities to share responsibility
  • Informs the team
  • Supports the team

Education & Experience

• Bachelor’s degree in Supply Chain, Business Administration, Finance, or a related field.
• 7+ years of experience in strategic sourcing, procurement, supply chain, or vendor management.
• Experience in financial services, credit unions, banking, or a regulated industry.
• 5+ years of formal or informal management and leadership experience developing and/or leading teams required.
• Understanding of third‑party risk management requirements (NCUA 12 CFR Part 748, FFIEC, SOC reports, cybersecurity standards).
• Proficiency with procurement or vendor management tools; comfort working with Finance, IT, & Risk teams.

Preferred Requirements

• 8–10+ years of progressive sourcing experience including leadership of complex initiatives may be considered at the Senior Manager level based on scope of the role and responsibilities.
• Experience sourcing technology solutions such as digital banking, lending platforms, payments systems, cybersecurity tools, or data/analytics solutions.
• Experience managing vendor scorecards, KPIs, and service‑level frameworks.
• Knowledge of credit union operating models, cooperative principles, and member‑focused service culture.

Physical Demands

The physical demands described are representative of those that must be met by an employee, with or without accommodation, to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle or feel; reach with hands and arms; and talk or hear.
• Specific vision abilities required by this job include close vision, distance vision, peripheral vision and ability to adjust focus.
• Will make extensive use of the telephone or virtual communication platforms requiring the ability to effectively and accurately explain complex information.

Work Environment Characteristics

The work environment characteristics described are representative of those an employee encounters while performing the essential functions of this job.

• This position is required to frequently work at UFCU Plaza in Austin, Texas.
• This position may involve periodic stressful conditions.
• May occasionally require an adjusted work schedule, overtime, & evening/weekend hours.
• May occasionally move from one work location/branch to another.
• Public contact position, requiring appropriate professional appearance.
• Frequent computer use at a workstation up to two hours at a time.
• The noise level in the work environment is usually moderate.

Equal Opportunity Employer / Protected Veterans / Individuals with Disabilities. This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.