Sourcing Category Strategist

Regions Financial Corporation; Hoover (AL); Remote; USD 103,000 - 142,000; Full time

Job summary

An established industry player is seeking a Procurement Strategic Sourcing Consultant to lead complex sourcing initiatives and vendor engagements. This role involves collaborating with cross-functional teams, executing RFPs, and identifying expense reduction opportunities. The ideal candidate will have a strong background in procurement, excellent negotiation skills, and the ability to influence stakeholders. With a focus on results and integrity, this position offers a chance to make a significant impact within the organization while working primarily offsite. Join a team that values performance and offers growth opportunities in a dynamic environment.

Qualifications

• Bachelor's degree or equivalent experience in procurement.
• 7+ years of experience in procurement or related field.

Responsibilities

• Lead sourcing initiatives and manage vendor engagements.
• Analyze market conditions and develop procurement plans.

Skills

Negotiation Skills

Relationship-Building Skills

Data Analysis

Microsoft Office Proficiency

Team Collaboration

Time Management

Education

Bachelor's Degree in Business

High School Diploma or GED

Professional Certification in Supply Chain

Master of Business Administration (MBA)

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.

At Regions, the Procurement Strategic Sourcing Consultant 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, solicit responses, analyze responses, prepare recommendation and negotiate contracts to enhance efficiencies and reduce costs
• Utilizes the ability to execute the bank’s competitive bidding process and lead strategic sourcing activities for assigned areas
• Utilizes the ability to develop cross-functional teams, business objectives, identify bidding suppliers, set up the RFP in the bank’s P2P system, execute the RFP / competitive bid with suppliers, and working 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
• May serve as team lead or supervise entry level procurement consultants
• May partner with Procurement Strategic Sourcing Technology Consultant on projects
• 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

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

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
• 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

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 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

Additional job detail for this specific opportunity

• Expertise in developing Sourcing Spend Category Strategies in collaboration with internal customers
• Expertise in running complex RFPs at the enterprise level dealing with a variety of major suppliers
• Strategic Sourcing banking experience preferred
• Ability to deal with 20+ Sourcing engagements at any given time
• Strong negotiations skills in the areas of price negotiations
• Strong knowledge of legal terms and conditions in master services agreements and statements of work
• 12+ years of sourcing experience preferred

This position is currently offsite and associates will work from their home primarily. They may be expected to go on site for meetings or other events as needed.

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.

Job Range Target:

Minimum:

$103,523.20 USD

50th Percentile:

$141,170.00 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.

Location:

Birmingham, Alabama

Equal Opportunity Employer/including Disabled/Veterans

Job applications at Regions are accepted electronically through our career site for a minimum of five business days from the date of posting. Job postings for higher-volume positions may remain active for longer than the minimum period due to business need and may be closed at any time thereafter at the discretion of the company.