Senior Sourcing Partner

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.

Job Description

We are seeking a leader with a strong understanding of Wealth, Corporate, Commercial, and Institutional Banking business practices and vendors to achieve the goal of managing a team and providing individual input toward optimizing our total value received and reduce our total cost of ownership with these vendors. In this role, the leader is responsible for understanding how our WCIB business uses and interacts with its vendors, ensuring appropriate competitive environments for U.S. Bank in these areas, and executing on large vendor strategies and transactions to achieve the goals listed above. The Leader will manage a team who analyzes competitive vendor landscapes, performs bids to ensure fairness and best cost structures that meet our business requirements, and negotiates with these vendors to maintain a highly competitive cost structure compared to our peers. The position will build partnership with WCIB leaders and their Technology, Operations, and Market Data business partners to identify savings opportunities, ensure accurate reporting on those opportunities, and escalate to Senior Leadership where appropriate.

Primary responsibilities:

1. Direct management responsibility for a team of Sourcing team members.
2. Leading vendor optimization strategy within WCIB and may at times encompass the entire enterprise. These projects often directly impact both customer experience and the functioning of revenue-generation platforms.
3. Negotiate contracts that exceed $5MM annually and total $25MM or more in the aggregate.
4. Maintain positive working relationships with WCIB leadership and other managing committee members and their direct reports.
5. Manage to cost savings and cost avoidance goals associated within WCIB both individually and for their underlying team.
6. Provide thought leadership around procurement best practices with an eye toward continuous improvement and creatively transforming our procurement organization.
7. Delivering against managing committee member savings targets.

Basic Qualifications:

1. 8-12 years of strategic sourcing experience, 5 in banking or financial services.
2. Advanced degree preferred, but not required.

Preferred Skills/Experience:

1. Strong knowledge of Wealth, Corporate, Commercial, and Institutional banking environment and category expertise in WCIB vendor-related areas.
2. Ability to mentor less experienced team members and influence negotiations effectively and efficiently with minimal intervention.
3. Strong risk identification, financial analysis, and problem-solving skills.
4. Excellent written and verbal communication skills to effectively and concisely lay out all relevant needs tied to a specific vendor offering.
5. Knowledge of banking vendor sales practices and ability to translate U.S. Bank’s needs into communications that resonate with and motivate the vendors to provide responsive proposals.
6. High emotional quotient, as this position is very people-centric.
7. Strategic thinker with an ability to translate strategy into execution after the strategy is finalized.
8. Keen attention to detail and ability to read vendor contracts and understand vendor technology offerings.
9. Strong collaboration skills and ability work collaboratively with cross-functional teams, such as legal, risk management, compliance, operations, and IT.
10. Strong adaptability skills and resilience to find alternate solutions in the face of adversity or resistance.
11. Strong organizational skills to manage multiple tasks, meet deadlines, and prioritize work effectively.

The role offers a hybrid/flexible schedule, which means there's an in-office expectation of 3 or more days per week and the flexibility to work outside the office location for the other days.

Benefits:

Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following (some may vary based on role, location or hours):

• Healthcare (medical, dental, vision)
• Basic term and optional term life insurance
• Short-term and long-term disability
• Pregnancy disability and parental leave
• 401(k) and employer-funded retirement plan
• Paid vacation (from two to five weeks depending on salary grade and tenure)
• Up to 11 paid holiday opportunities
• Adoption assistance
• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

EEO is the Law

U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors.

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $145,180.00 - $170,800.00 - $187,880.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance.

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