Sourcing Manager

First Citizens Bank; Raleigh (NC); On-site; USD 110,000 - 170,000; Full time

Job summary

First Citizens Bank in Raleigh, NC seeks a seasoned Procurement Manager to source, negotiate, and manage vendor contracts for software, services, and outsourcing. You will lead RFx events, structure terms, and align agreements with Third Party Risk Management standards while delivering cost savings for the bank.

Responsibilities include supporting business owners, overseeing sourcing, negotiating pricing, and collaborating with TPRM to mitigate contract risk and ensure regulatory compliance.

Qualifications

• Bachelor's degree and 8 years of experience in contract structuring and negotiation for services, software, staffing, software as a service, consulting, and outsourcing services contracts.
• High School Diploma or GED with 12 years of experience in contract structuring and negotiation for services, software, staffing, software as a service, consulting, and outsourcing services contracts.

Responsibilities

• Business Support — Develops a strong understanding of existing vendor contracts and services in support of each assigned business owner, establishing the role of trusted advisor.
• Vendor Sourcing — Oversees sourcing events (RFx) conducted in support of business initiatives in order to contract for new products and services.
• Contract Structuring and Negotiation — Structures and negotiates vendor contracts to align with Third Party Risk Management (TPRM) standards and regulatory expectations.
• Relationships — Collaborates with TPRM on new products and services to address inherent risk in contract structuring and negotiation.
• Price Negotiations — Delivers cost savings, price reductions, and cost avoidance opportunities for new and renewed contracts.

Skills

Vendor negotiation

Contract management

Relationship management

Education

Bachelor's Degree in related field

High School Diploma or GED with 12 years experience

Job description

Overview

This position sources, procures, and provides business support for cost-effective products and services from vendors for the Bank's internal clients. Delivers outstanding client service while fostering collaborative relationships. Provides innovative, timely, and accurate solutions aligned to the Bank's risk appetite. Conducts sourcing events (RFx) for products and services to meet the requirements of Bank business initiatives. Structures and negotiates terms and pricing for various services, software, hardware, staffing, consulting and outsourcing agreements required to support business needs and deliver cost savings Works collaboratively with the Third Party Risk Management ("TPRM") team to ensure contract terms align with risk management standards and regulatory expectations.

Overview

This position sources, procures, and provides business support for cost-effective products and services from vendors for the Bank's internal clients. Delivers outstanding client service while fostering collaborative relationships. Provides innovative, timely, and accurate solutions aligned to the Bank's risk appetite. Conducts sourcing events (RFx) for products and services to meet the requirements of Bank business initiatives. Structures and negotiates terms and pricing for various services, software, hardware, staffing, consulting and outsourcing agreements required to support business needs and deliver cost savings Works collaboratively with the Third Party Risk Management ("TPRM") team to ensure contract terms align with risk management standards and regulatory expectations.

Responsibilities & Qualifications

Duties & Responsibilities:

Business Support - Develops a strong understanding of existing vendor contracts and services in support of each assigned business owner, establishing the role of trusted advisor.

Vendor Sourcing - Oversees sourcing events (RFx) conducted in support of business initiatives in order to contract for new products and services.

Contract Structuring and Negotiation - Structures and negotiates vendor contracts to align with Third Party Risk Management (TPRM) standards and regulatory expectations.

Relationships - Collaborates with TPRM on new products and services to address inherent risk in contract structuring and negotiation.

Price Negotiations - Delivers cost savings, price reductions, and cost avoidance opportunities for new and renewed contracts.

Qualifications

Bachelor's Degree and 8 years of experience in Contract structuring and negotiation for services, software, staffing, software as a service, consulting, and outsourcing services contracts OR High School Diploma or GED and 12 years of experience in Contract structuring and negotiation for services, software, staffing, software as a service, consulting, and outsourcing services contracts

Preferred Qualifications

• Significant experience redlining and negotiating agreements for various services.


• Relationship management


• Knowledge of supply base and sourcing business practices specific to financial services preferred

Preferred Education: Bachelor's Degree

License or Certification Type: Certified Regulatory Vendor Program Manager Preferred, Member of Contract and Commercial Management certification by the International Association for Contract and Commercial Management Preferred, Certified Professional in Supply Management Preferred

Additional Information

Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.