Strategic Sourcing Director

Univest; Souderton (Montgomery County); On-site; USD 90,000 - 130,000; Full time

Benefits offered by this job

Health Insurance

401(k) plan with employer match

25 days Paid Time Off

Job summary

Univest is seeking a Strategic Sourcing Director to shape vendor partnerships and drive sourcing strategy. This pivotal role involves establishing sourcing processes, managing vendor relationships, and ensuring compliance with company standards.

The ideal candidate possesses a bachelor's degree in Supply Chain Management or a related field, with at least 7 years of experience in strategic sourcing, preferably in the financial services sector. Excellent negotiation and analytical skills are crucial.

Qualifications

• 7+ years of strategic sourcing or procurement experience.
• Experience in banking or financial services is preferred.
• Expertise in managing complex vendor relationships.

Responsibilities

• Lead enterprise-wide strategic sourcing processes and vendor selection.
• Negotiate contracts and manage vendor agreements.
• Build and manage a preferred vendor program.

Skills

Strategic sourcing

Vendor negotiation

Relationship management

Analytical skills

Communication skills

Education

Bachelor's degree in Supply Chain Management, Business Administration, Finance, or related field

Tools

Sourcing/contract management tools (e.g., Ariba, Coupa, Jaggaer)

Job description

Overview

At Univest, we believe strong partnerships and thoughtful strategies drive lasting success. As our Strategic Sourcing Director, you will play a pivotal role in shaping how we build and manage relationships with the vendors and partners who support our organization’s growth and service excellence. In this role, you will lead the development and execution of a forward‑thinking sourcing strategy that aligns with Univest’s mission, values, and long‑term vision. You will collaborate across departments to identify opportunities, optimize spending, and ensure we are delivering exceptional value always with a focus on integrity, transparency, and mutual success. This is more than procurement, it's about building trusted partnerships, strengthening operational efficiency, and supporting the financial well‑being of the communities we serve.

Responsibilities

Strategic Sourcing & Vendor Governance

• Establish and lead enterprise‑wide strategic sourcing processes, including vendor selection, evaluation criteria, contracting standards, and lifecycle governance
• Build and maintain a vendor inventory and rationalization framework, identifying opportunities to reduce redundancy and consolidate spend
• Develop and enforce sourcing governance policies, intake standards, and approval frameworks in collaboration with key stakeholders
• Define preferred vendor standards and maintain a vendor rationalization roadmap

Sourcing Execution & Commercial Management

• Lead competitive sourcing processes including RFx design and execution, vendor outreach, evaluation, and award recommendation
• Own contract negotiations and commercial engagements for new vendors and renewals, driving favorable terms, SLAs, and pricing structures
• Manage contract renewals, extensions, and renegotiations, maintaining pricing consistency and contractual compliance
• Leverage enterprise‑scale buying power to optimize cost and performance across the vendor portfolio

Vendor Relationships & Performance

• Build and manage a preferred vendor program, including performance monitoring and ongoing relationship management
• Serve as the primary liaison between business units and vendor contacts
• Proactively review vendor agreements to identify cost savings, consolidation opportunities, and risk exposure
• Partner with Legal, Risk, and Compliance to ensure contracts meet regulatory and organizational standards
• Serve as primary liaison for vendor‑related requests working with business units to assess, prioritize, and manage demand
• Collaborate with Finance, Legal, Risk, Compliance, and Technology to align sourcing activity with enterprise priorities and risk appetite
• Drive process consistency and reduce vendor sprawl through disciplined intake and portfolio oversight
• Provide regular reporting and visibility into sourcing activity, vendor performance trends, and portfolio health for leadership

Qualifications

• Bachelor's degree in Supply Chain Management, Business Administration, Finance, or a related field.
• 7+ years of strategic sourcing or procurement experience, with demonstrated success managing complex vendor relationships and commercial negotiations.
• Experience in banking, financial services, or a similarly regulated industry strongly preferred.
• Proven track record of building or maturing a sourcing function, with the ability to operate effectively in an environment where processes are still being established.
• Strong knowledge of contract structures, negotiation strategy, and vendor risk management principles.
• Comfort working with senior and executive‑level stakeholders across business units.
• Proficiency with sourcing/contract management tools (e.g., Ariba, Coupa, Jaggaer); ERP familiarity a plus.
• Excellent analytical, communication, and organizational skills.
• CPSM (Certified Professional in Supply Management) or equivalent certification preferred
• Experience with third‑party risk management (TPRM) frameworks and regulatory requirements common to financial institutions preferred
• Familiarity with indirect spend categories including technology, professional services, facilities, and operations.
• Experience using spend analytics tools or BI platforms to inform sourcing decisions and executive reporting.

Wage Range

The salary range for this position is $90,000 - $130,000.

Benefits Overview

• Health Insurance: Medical, dental and vision coverage (single or family; begins the first of the month following start date)
• Retirement Plan: Participation in 401(k) plan with up to a 3% employer match after 6 months of employment
• Paid Time Off (PTO): 25 days annually (prorated your first year)
• Short Term Disability: 12 weeks of sick time with a doctor’s note after 6 months of service
• Holiday Time Off: 11 paid holidays
• Commissions: paid quarterly based on individual and team production
• Company paid life insurance and other supplemental insurances
• Tuition reimbursement
• Employee Wellness programs: including fitness club discounts and fitness tracker discounts/annual reimbursement
• Discounts on loan products
• Professional development trainings

An Equal Opportunity Employer. Univest does not discriminate against any applicant for employment because of race, color, religion, religious creed, ancestry, national origin, age, sex, disability or protected veteran status.