Strategic Sourcing Analyst II (Hybrid)

M&T Bank; Boston (MA); Hybrid; USD 62,000 - 104,000; Full time

Job summary

M&T Bank seeks a Strategic Sourcing professional to lead large-scale procurement initiatives across multiple offices and functions. You will develop RFPs, guide cross-functional teams, and negotiate contracts to secure competitive pricing and favorable terms.

The role is hybrid with onsite four days a week at a regional hub within the footprint; remote work is possible for qualified candidates. A Bachelor's degree and relevant procurement experience are required.

Qualifications

• Bachelor’s degree or equivalent; strong procurement foundation.
• Several years of financial/business experience preferred.
• Experience with RFPs/RFQs and contract negotiation.

Responsibilities

• Lead major sourcing initiatives with cross-functional teams.
• Develop and execute RFPs, RFQs, and RFIs based on needs.
• Facilitate bid analysis and vendor shortlisting with legal input.
• Negotiate contracts for best price and terms.
• Document savings and impact for senior management.

Skills

Procurement skills

Negotiation

Communication skills

Analytical thinking

Time management

Education

Bachelor’s degree or equivalent

4 years financial/business experience (preferred)

Tools

Contract Lifecycle Management

eSignature software

Mainframe systems

Job description

Overview

Works with business and support units to understand needs, formulate strategies, and source suitable suppliers at the best price to meet requirements. Carries out the Strategic Sourcing process designed to maximize competition and leverage when selecting and contracting with chosen suppliers. Negotiates contracts generally between $500K and $5M in value.

Location

• 345 Main Street, Buffalo, NY
• 115 Federal Street, Boston, MA
• 1 Light Street, Baltimore, MD
• 1350 I Street NW, Washington, DC
• 1100 North Market Street, Wilmington, DE
• 277 Park Avenue, New York, NY
• 850 Main Street, Bridgeport, CT
• 77 Pine Street, Burlington, VT

This role follows a hybrid work model, requiring onsite presence four days per week at one of M&T Bank’s regional offices if within commutable distance. The team will consider candidates with the right experience to work remotely within the M&T footprint, if not near one of the regional hubs.

Primary Responsibilities

• For major sourcing initiatives, work with management to identify an Executive Sponsor and a cross-functional project team to ensure appropriate buy-in, support and participation throughout the project.
• Guide the Project Team through the Strategic Sourcing process and keep the Executive Sponsor and relevant senior managers informed of progress, setbacks and obstacles. Lead a kick-off meeting with the Project Team to clarify the objectives, strategy and proposed timeline of the sourcing initiative. Develop and execute Requests for Proposals (RFPs), Requests for Quotes (RFQs) and/or Requests for Information (RFIs) based on identified business needs, market conditions and corporate standards. Facilitate analysis, evaluation and scoring of vendor proposals against criteria established and agreed on by the Team. Conduct multiple rounds of bids and coordinate activities such as supplier demonstrations, reference calls and on-site visits to short-list suppliers. Lead contract negotiations in conjunction with the Project Team and Legal to ensure we obtain the most competitive pricing and favourable terms possible.
• Prepare sufficient documentation to inform Executive Sponsor and senior managers of recommendations and results of the sourcing initiative, including any achieved savings, customer implications and impacts to business operations.
• Guide business and support units through the Third-Party Risk Management Program in conjunction with the Third-Party Risk Management team to ensure selected vendors are properly risk-tiered, vetted and approved before executing a contract.
• Research and analyze procurement trend data at the Bank and recommend savings opportunities to associated business lines and support functions.
• Understand and adhere to the Company’s risk and regulatory standards, policies and controls in accordance with the Company’s Risk Appetite. Identify risk-related issues needing escalation to management.
• Promote an environment that supports belonging and reflects the M&T Bank brand.
• Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
• Complete other related duties as assigned.

Scope of Responsibilities

Strategic Sourcing is a structured process that maximizes competition and leverage to select the most suitable suppliers at the best price. As such, this position is critical to expense control at the Bank. The position is responsible for one or more categories of spending that occur at the Bank and has overall responsibility for controlling expenses in the assigned category across the entire organization, inclusive of all subsidiaries, business units and cost centers. Typically, categories assigned to the position have between $500K - $5M in annual spending. Consequently, a small percentage impact in these categories can have substantial impact on bottom line profitability of the Bank, stock price and shareholder return.

Education and Experience Required

• Bachelor’s degree and a minimum of 2 years’ proven financial and/or business experience, or in lieu of a degree, a combined minimum of 6 years’ higher education and/or work experience, including a minimum of 2 years’ proven financial and/or business experience
• Proficiency with personal computers as well as pertinent mainframe systems and software packages, including those specific to procurement, as well as spreadsheet, presentation and database software
• Strong time management skills
• Detail-oriented with strong organizational and analytical skills
• Strong verbal and written communication skills
• Experience interacting with all levels of management
• Strong presentation skillsExperience writing Requests for Proposal (RFPs) and negotiating contracts
• Experience with Contract Lifecycle Management and eSignature software tools

Education and Experience Preferred

• Bachelor’s degree and a minimum of 4 years proven financial and/or business experience

Compensation

M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $62,200.00 - $103,600.00 Annual (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation.