Strategic Sourcing Lead: Contracts, Risk & Stakeholders

Truist; Richmond (VA); On-site; USD 87,000 - 164,000; Full time

Benefits offered by this job

Medical, dental, vision

Life insurance

401(k) plan

Paid time off

Paid holidays

Pension plan / RSUs / deferred comp

Job summary

Truist seeks a Senior Sourcing Specialist to lead complex sourcing activities, including P2P processes, SOWs, and risk assessments. You will collaborate with contract managers, risk and legal teams, and business partners to drive cost-effective outcomes.

The role emphasizes stakeholder engagement, contract excellence, and policy compliance across a regulated banking environment. Strong communication and relationship skills are essential.

Qualifications

• Bachelor's degree in a relevant business field or 4–6+ years of sourcing/procurement experience.
• Expert in procurement and supply chain management.
• Skilled at identifying legal and business risks in contracts.
• Able to interact tactfully with numerous stakeholders.
• Adept at prioritizing own workload to meet deadlines.
• Excellent verbal and written communication and organization skills.
• Proficient in Word, Excel, Outlook and PowerPoint.
• Strong relationship management with senior leaders at Truist.

Responsibilities

• Manage all aspects of and drive requests through the procure-to-pay process.
• Coordinate with Truist stakeholders including contract management, legal, and SMEs.
• Negotiate contract spend to be reasonable and market-competitive.
• Aim for cost avoidance and optimize the bank's total enterprise spend with suppliers.
• Ensure contract terms align with business needs and parent agreements.
• Develop relationships with business partners, contract managers, legal, category directors/managers and procurement operations.
• Ensure procedures are followed: timelines, status updates, and assignments.
• Review contract requests for PO procurement method.
• Ensure PO requirements and manager approval.
• Act as a resource for purchase requisition process.
• Coordinate project kick-off and Third Party Risk Assessments with SMEs.
• Mentor junior teammates.
• Comply with policies, procedures and regulatory standards.

Skills

Procurement & supply chain mgmt

Stakeholder management

Contract analysis

Verbal & written communication

Prioritization

Microsoft Office

Relationship management

Banking industry knowledge

Education

Bachelor's degree in business or related field

4-6+ years in sourcing/procurement

Tools

SAP Ariba

Archer

Job description

Truist seeks a Senior Sourcing Specialist to lead complex sourcing activities, including P2P processes, SOWs, and risk assessments. You will collaborate with contract managers, risk and legal teams, and business partners to drive cost-effective outcomes.

The role emphasizes stakeholder engagement, contract excellence, and policy compliance across a regulated banking environment. Strong communication and relationship skills are essential.