Strategic Sourcing Analyst - Contracts & Risk

Fifth Third Bank; Cincinnati (OH); On-site; USD 75,000 - 120,000; Full time

Job summary

Fifth Third Bank in Cincinnati, OH seeks an experienced Senior Analyst, Sourcing to lead contract negotiations, supplier management, and risk-aware sourcing strategies across moderate to low spend categories. You will collaborate with Sr.

Strategist to drive category strategies, implement renewals, and ensure contracts align with Bancorp objectives. The role emphasizes risk-aware procurement, compliance with policies, and the ability to manage cross-functional teams through complex sourcing

Qualifications

• Bachelor’s Degree or equivalent preferred with 4+ years Sourcing or Procurement experience.
• Strong knowledge of Sourcing methodologies, best practices, negotiations and business processes.
• Champions new initiatives and removes barriers; encourages out-of-the-box thinking; acts as a catalyst for change and stimulates others to change.
• Fosters open communication.
• Excels at envisioning the future and shaping strategy.
• Excellent analytical skills.
• Problem solving.
• Change leadership skills. Senior Analyst, Sourcing

Responsibilities

• Create and maintain supplier profiles.
• Support Sr. Strategist on designated categories.
• Assigned Project Level Responsibilities.
• Execution of all Moderate risk / Moderate spend projects/contracts.
• Execution of all Moderate risk / Low spend projects/contracts.
• Execution of all Low risk / Moderate spend projects/contracts.
• Execution of all Low risk / Low spend projects/contracts.
• Existing Opportunity or Contract Renewal.
• Execution of all contracts for maintenance renewals.
• Adhere to Sourcing Council Process for assigned projects.
• Second Signature Authority: Contracts < $1MM.
• Manages the review process for service provider relationships that impact the Bancorp’s Sarbanes Oxley compliance.
• Apply knowledge of best practices from throughout the Bancorp as they pertain to the risks associated with outsourcing and other third party service provider relationships.
• Support Business Line(s) and cross-functional teams in formulating business requirements to enable the achievement of strategic and tactical goals.
• Assist the business manager and legal in negotiating terms and conditions related to mitigating identified risk.
• Assist lines of business with the review and monitoring process to ensure compliance with the OSP Policy.
• Execute Sourcing strategies and support cross-functional teams of business line experts, subject matter experts and Sourcing professionals.
• Coordinate BSP requests and reviews as necessary.
• Ensure contracts, goals, and objectives are aligned with Bancorp objectives.
• Achieve world-class Sourcing results, protect the Bank, and be recognized as one of the subject matter experts for Strategic Sourcing for externally acquired goods and services.
• Develop relationships with key stakeholders to identify current and future business requirements and strategies for third party service provider arrangements.
• In collaboration with project team, manage Sourcing events including needs analysis; market analysis; competitive intelligence; RFI and RFP development; cost and proposal analysis; contract negotiation; deal structuring to minimize risk and assistance to develop an effective implementation plan.
• Continually maintain knowledge of market and industry trends and best practices.
• Leads negotiations for service provider agreements and other partnering arrangements.
• Finalize contracts and develop communication, transition and implementation plans.
• Network externally with industry and international experts to facilitate effective strategic intelligence.

Skills

Sourcing methodologies

Negotiations

Analytical skills

Change leadership

Education

Bachelor’s Degree or equivalent

Job description

Fifth Third Bank in Cincinnati, OH seeks an experienced Senior Analyst, Sourcing to lead contract negotiations, supplier management, and risk-aware sourcing strategies across moderate to low spend categories. You will collaborate with Sr.

Strategist to drive category strategies, implement renewals, and ensure contracts align with Bancorp objectives. The role emphasizes risk-aware procurement, compliance with policies, and the ability to manage cross-functional teams through complex sourcing