Senior Sourcing Specialist

American Family Insurance; Boston (MA); On-site; USD 78,000 - 128,000; Full time

Job summary

A leading company in the insurance sector seeks an experienced sourcing specialist to provide procurement support for its IT organization. This role involves strategic sourcing, contract management, and vendor relationship development to align with corporate goals. Candidates should have a strong background in project management and sourcing practices, along with the ability to negotiate effectively and manage supplier relationships while ensuring compliance and optimizing costs. The position offers a competitive salary and comprehensive benefits package.

Benefits

Comprehensive medical, dental, and vision benefits

401(k) contribution

Pension plan

Annual incentive

23 days paid time off annually

Student loan repayment program

Paid family leave

Qualifications

• Demonstrated experience in customer-driven solutions.
• Extensive knowledge in sourcing practices and contract negotiation.
• Experience in leading medium to large projects.

Responsibilities

• Define and execute medium to high complexity sourcing events.
• Negotiate contract terms and ensure compliance.
• Build relationships with senior business leaders for sourcing needs.

Skills

Customer-driven solutions

Sourcing practices

Supplier performance management

Contract negotiation techniques

Project management

Reporting and presentation skills

Job description

Provide sourcing and procurement support for the Information Technology (IT) organization, driving strategic sourcing initiatives and managing supplier relationships. Ensure the procurement of high-quality products and services at competitive prices. Collaborate with internal stakeholders to understand their needs, develop sourcing strategies, and negotiate contracts that align with the company's goals. Provide expertise in sourcing, contract management, and supplier risk management will be essential in optimizing costs, mitigating risks, and enhancing overall value.

Position Compensation Range:

$78,000.00 - $128,000.00

Pay Rate Type:

Salary

Compensation may vary based on the job level and your geographic work location. Relocation support is offered for eligible candidates.

Primary Accountabilities

• Scope and Strategy:You will define and strategize medium to high complexity sourcing events. You will identify and qualify opportunities based on spend, value, risk, and resources. You will present objectives and plans to business partners, obtain approvals, and align resources for execution. You will lead cross-functional teams to successful outcomes.
• Contract Development:You will negotiate contract terms with suppliers, involving internal experts as needed, to achieve mutually beneficial outcomes while supporting business objectives.
• Contract Management:You will act as a subject matter expert for assigned supplier contracts. You will ensure compliance with approval processes and contract standards. You will support stakeholders in contract management from award to completion or termination.
• Value Marketing:You will promote the value of strategic sourcing to management and internal customers. You will provide reporting to business unit leaders on spend, sourcing activities, risks, opportunities, and results.
• Relationship Management:You will build and maintain productive relationships with senior business leaders to understand their objectives and sourcing needs. You will serve as the key contact for sourcing needs and determine current and future requirements.
• Sourcing Process Leadership:You will oversee the entire sourcing process for RFxs, renewals, and new contracts. You will manage project processes (e.g., scope, time, communication, risk mitigation, change management). You will identify opportunities for process improvements and enhanced services.
• Vendor Risk Assessment.Lead the process to identify inherent risk and criticality of vendor goods and/or services. Coordinate with internal risk partners to quantify risk and validate appropriate risk mitigation activities to limit impact to identified risk factors and ensure responsible engagement with our vendors.
• Evaluation:You will use market intelligence and sourcing objectives to evaluate complex competitive offerings. You will compare supplier bids across financial parameters and identify expected savings/value cash flows. You will assess qualitative trade-offs between supplier proposals.

Specialized Knowledge & Skills Requirements
• Demonstrated experience providing customer-driven solutions, support or service.
• Extensive knowledge of sourcing practices including RFxs, contract negotiation, market intelligence.
• Solid knowledge and understanding of supplier performance management techniques.
• Solid knowledge employing advanced end-to-end strategic sourcing processes, practices and tools to large, complex spend categories.
• Demonstrated experience leading medium to large projects.
• Solid knowledge and understanding of contract negotiation techniques.
• Solid knowledge and understanding of project management practices.
• Solid knowledge and understanding of goods and services contract terms.
• Solid knowledge and understanding of preparing reports, charts and presentations.
• Demonstrated experience with project management methodologies, practices, techniques and tools.

Licenses
• Not applicable.

Travel Requirements
• Up to 10%.

Physical Requirements
• Work that primarily involves sitting/standing.

Working Conditions
• Not applicable.

We encourage you to apply even if you do not meet all of the requirements listed above. Skills can be used in many different ways, and your life and professional experience may be relevant beyond what a list of requirements will capture. We encourage those who are passionate about what we do to apply!

We provide benefits that support your physical, emotional, and financial wellbeing. You will have access to comprehensive medical, dental, vision and wellbeing benefits that enable you to take care of your health. We also offer a competitive 401(k) contribution, a pension plan, an annual incentive, 9 paid holidays and a paid time off program (23 days accrued annually for full-time employees). In addition, our student loan repayment program and paid-family leave are available to support our employees and their families. Interns and contingent workers are not eligible for American Family Insurance Group benefits.

We are an equal opportunity employer. It is our policy to comply with all applicable federal, state and local laws pertaining to non-discrimination, non-harassment and equal opportunity. We also consider qualified applicants with criminal histories, consistent with applicable federal, state and local law.

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