City National Bank
Strategic Sourcing Manager
City National Bank, Los Angeles, California, United States, 90079
STRATEGIC SOURCING MANAGER - IT
WHAT IS THE OPPORTUNITY?
City National Bank is looking for a Strategic Sourcing Manager to join their Enterprise Procurement department supporting our IT division. This role will be responsible for leading complex negotiations and drafting contracts for commodities and services to be purchased by the bank. Interface with executive level management and make recommendations. Proactively identifies and recommends category sourcing options and partners with stakeholders to implement them. Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions. Analyze business plans, spend data, supplier and market data, to determine optimal sourcing strategies across businesses and assigned suppliers and/or commodities. Contributes to the achievement of defined category performance targets and participates in or leads competitive RFPs as necessary. Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions. Train and mentor other Enterprise Procurement team members.
What you will do
Lead Mid to High Level Complex Negotiation / Transactions / Procurement Projects
Knowledgeable of the Strategic Sourcing process, drafting of contracts, financial reviews and procurement practices
Lead negotiations and contract drafting for commodity/service to be purchased by the bank. Work with Legal, compliance, finance, the business and other department to minimize risk and obtain the favorable terms for the bank
Proactively identifies and recommends category sourcing options and partners with stakeholders to implement them
Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions
Analyze business plans, spend data, supplier and market data, to determine optimal sourcing strategies across businesses and assigned suppliers and/or commodities
Contributes to the achievement of defined category performance targets and participates in or leads competitive RFPs as necessary
Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions
Research and stay current on industry practices for product and services within the assigned category(s)
Assist colleagues with interpreting contracts
Lead RFx activity
Builds and fosters relationships and effectively partners across varied functions with internal stakeholders, external suppliers, and colleagues to influence change,
Manage assigned projects and communicate with the stakeholders
Ensures compliance with Company policies, procedures, standards, use of Procurement systems in alignment with the stakeholder's objectives
Prepare reports for management as requested
Manages supplier involvement and relationship with the Company
Manages Supplier audit activities
Governance of vendor sourcing agreements
Manages/mitigates vendor risk, business continuity and security
Acts as liaison with vendors to ensure organizational needs are met
Prepares and presents strategic sourcing strategies for assigned suppliers and/or commodities to senior management
Develops / maintains market and technical expertise in assigned buy categories
Recognized as subject matter experts (SME) of their commodity(s)
Evaluates existing processes and provide process improvement recommendations in line with best practices and practical experience
Facilitates activities around supplier audits
Mines spend data to identify cost savings opportunities
Recommends to leadership supplier/vendor strategies for existing suppliers and alternatives
Trains and mentors other Procurement team members
Empowers others to achieve results through motivation, recognition and performance feedback
Participates with management in development of procurement strategies and plans
Works at strategic level and if requested tactical (hands-on)
Perform other duties as required
Must-Have *
Bachelor's Degree or equivalent
Minimum 5 years Procurement experience required
Minimum 2 years of experience working for a bank, financial services company or indirect Procurement Organization required
Skills and Knowledge
Knowledge of negotiation principles & practices, and procurement practices
Ability to learn and stay current on industry practices for product and services within the assigned category(s)
Skill in Negotiation & Drafting: Acts with integrity. Experienced and skilled contract negotiator. Experienced drafting contracts terms & conditions and working with a team to develop a negotiation and sourcing strategy which will lead to the best negotiate outcomes
Ability to adapt to change
Skill in asking questions and open to learning new concepts, ideas, and implement them
Creates and seizes opportunities even when faced with ambiguity; acts with integrity, is accountable and advocates in the best interest of the bank; is decisive and acts in a timely manner, acts on information and adapts with changes; seeks and accepts responsibility for failure; share responsibility for team success; seek best practices from across all industry sectors; advocate for solutions that will set the foundation for win-win solutions in future business opportunities
Good verbal and written communication skills
Ability to think systematically and strategically to analyze issues, develop and create short and long term actionable plans. Considers details and sees the big picture. Sees around corners to preempt potential problems and leverage opportunities; connects multiple seemingly unrelated problems to see the big picture
Continually develops a better understanding of current and future challenges and opportunities; creates a recommendation and works with Procurement to successfully implements ideas. Systematically develops new approaches to standard or recurring goals and issues Generates the best outcomes through collaboration (business, Legal, compliance, etc.). Values colleagues' individual differences and talents. Shares important or relevant information with the team to ensure solutions meets the needs of the bank
Thoroughness in completing a task/analysis/project with concern for all elements required at every level
Effectively manages time and resources
Embraces challenges
Lead a team and manage up
Flexible and adaptable to change
Master's degree a plus
Compensation
Starting base salary: $87,027 - $138,965 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
*To be considered for this position you must meet at least these basic qualifications
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
Benefits and Perks
At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our Benefits and Perks.
ABOUT CITY NATIONAL
City National Bank, a subsidiary of Royal Bank of Canada, is the largest bank headquartered in Los Angeles with $92.03 billion in assets as of April 30, 2024. Founded in 1954, City National provides personalized banking, investment and trust services in select markets including Los Angeles, Orange County, San Diego, the San Francisco Bay Area, New York City, Nashville, Atlanta, Delaware, Las Vegas, Washington D.C. and Miami.* In addition, the company and its investment affiliates manage or administer $96.83 billion in client investment assets. City National is dedicated to strengthening communities, and in 2023 alone, the company made more than $11 million in charitable contributions to nonprofits that support the communities it serves.
*City National Bank does business in Miami and the state of Florida as CN Bank.
For more information about City National, visit cnb.com.
EQUAL OPPORTUNITY EMPLOYER & REASONABLE ACCOMMODATION
City National Bank is an equal opportunity employer committed to promoting and maintaining a diverse, equitable and inclusive working environment where differences are valued and encouraged. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by the laws or regulations in the locations where we operate or in our Code of Conduct. READ MORE
If you are a qualified individual with a disability or a disabled veteran, you have the right to request a reasonable accommodation for any part of the employment process. Please contact us via email or leave a message at (213) 673-9139. These contact methods are dedicated to applicants whose disability prevents them from successfully applying online. Only messages left for this purpose will be returned. Responses may take up to two business days.
WHAT IS THE OPPORTUNITY?
City National Bank is looking for a Strategic Sourcing Manager to join their Enterprise Procurement department supporting our IT division. This role will be responsible for leading complex negotiations and drafting contracts for commodities and services to be purchased by the bank. Interface with executive level management and make recommendations. Proactively identifies and recommends category sourcing options and partners with stakeholders to implement them. Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions. Analyze business plans, spend data, supplier and market data, to determine optimal sourcing strategies across businesses and assigned suppliers and/or commodities. Contributes to the achievement of defined category performance targets and participates in or leads competitive RFPs as necessary. Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions. Train and mentor other Enterprise Procurement team members.
What you will do
Lead Mid to High Level Complex Negotiation / Transactions / Procurement Projects
Knowledgeable of the Strategic Sourcing process, drafting of contracts, financial reviews and procurement practices
Lead negotiations and contract drafting for commodity/service to be purchased by the bank. Work with Legal, compliance, finance, the business and other department to minimize risk and obtain the favorable terms for the bank
Proactively identifies and recommends category sourcing options and partners with stakeholders to implement them
Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions
Analyze business plans, spend data, supplier and market data, to determine optimal sourcing strategies across businesses and assigned suppliers and/or commodities
Contributes to the achievement of defined category performance targets and participates in or leads competitive RFPs as necessary
Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions
Research and stay current on industry practices for product and services within the assigned category(s)
Assist colleagues with interpreting contracts
Lead RFx activity
Builds and fosters relationships and effectively partners across varied functions with internal stakeholders, external suppliers, and colleagues to influence change,
Manage assigned projects and communicate with the stakeholders
Ensures compliance with Company policies, procedures, standards, use of Procurement systems in alignment with the stakeholder's objectives
Prepare reports for management as requested
Manages supplier involvement and relationship with the Company
Manages Supplier audit activities
Governance of vendor sourcing agreements
Manages/mitigates vendor risk, business continuity and security
Acts as liaison with vendors to ensure organizational needs are met
Prepares and presents strategic sourcing strategies for assigned suppliers and/or commodities to senior management
Develops / maintains market and technical expertise in assigned buy categories
Recognized as subject matter experts (SME) of their commodity(s)
Evaluates existing processes and provide process improvement recommendations in line with best practices and practical experience
Facilitates activities around supplier audits
Mines spend data to identify cost savings opportunities
Recommends to leadership supplier/vendor strategies for existing suppliers and alternatives
Trains and mentors other Procurement team members
Empowers others to achieve results through motivation, recognition and performance feedback
Participates with management in development of procurement strategies and plans
Works at strategic level and if requested tactical (hands-on)
Perform other duties as required
Must-Have *
Bachelor's Degree or equivalent
Minimum 5 years Procurement experience required
Minimum 2 years of experience working for a bank, financial services company or indirect Procurement Organization required
Skills and Knowledge
Knowledge of negotiation principles & practices, and procurement practices
Ability to learn and stay current on industry practices for product and services within the assigned category(s)
Skill in Negotiation & Drafting: Acts with integrity. Experienced and skilled contract negotiator. Experienced drafting contracts terms & conditions and working with a team to develop a negotiation and sourcing strategy which will lead to the best negotiate outcomes
Ability to adapt to change
Skill in asking questions and open to learning new concepts, ideas, and implement them
Creates and seizes opportunities even when faced with ambiguity; acts with integrity, is accountable and advocates in the best interest of the bank; is decisive and acts in a timely manner, acts on information and adapts with changes; seeks and accepts responsibility for failure; share responsibility for team success; seek best practices from across all industry sectors; advocate for solutions that will set the foundation for win-win solutions in future business opportunities
Good verbal and written communication skills
Ability to think systematically and strategically to analyze issues, develop and create short and long term actionable plans. Considers details and sees the big picture. Sees around corners to preempt potential problems and leverage opportunities; connects multiple seemingly unrelated problems to see the big picture
Continually develops a better understanding of current and future challenges and opportunities; creates a recommendation and works with Procurement to successfully implements ideas. Systematically develops new approaches to standard or recurring goals and issues Generates the best outcomes through collaboration (business, Legal, compliance, etc.). Values colleagues' individual differences and talents. Shares important or relevant information with the team to ensure solutions meets the needs of the bank
Thoroughness in completing a task/analysis/project with concern for all elements required at every level
Effectively manages time and resources
Embraces challenges
Lead a team and manage up
Flexible and adaptable to change
Master's degree a plus
Compensation
Starting base salary: $87,027 - $138,965 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
*To be considered for this position you must meet at least these basic qualifications
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
Benefits and Perks
At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our Benefits and Perks.
ABOUT CITY NATIONAL
City National Bank, a subsidiary of Royal Bank of Canada, is the largest bank headquartered in Los Angeles with $92.03 billion in assets as of April 30, 2024. Founded in 1954, City National provides personalized banking, investment and trust services in select markets including Los Angeles, Orange County, San Diego, the San Francisco Bay Area, New York City, Nashville, Atlanta, Delaware, Las Vegas, Washington D.C. and Miami.* In addition, the company and its investment affiliates manage or administer $96.83 billion in client investment assets. City National is dedicated to strengthening communities, and in 2023 alone, the company made more than $11 million in charitable contributions to nonprofits that support the communities it serves.
*City National Bank does business in Miami and the state of Florida as CN Bank.
For more information about City National, visit cnb.com.
EQUAL OPPORTUNITY EMPLOYER & REASONABLE ACCOMMODATION
City National Bank is an equal opportunity employer committed to promoting and maintaining a diverse, equitable and inclusive working environment where differences are valued and encouraged. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by the laws or regulations in the locations where we operate or in our Code of Conduct. READ MORE
If you are a qualified individual with a disability or a disabled veteran, you have the right to request a reasonable accommodation for any part of the employment process. Please contact us via email or leave a message at (213) 673-9139. These contact methods are dedicated to applicants whose disability prevents them from successfully applying online. Only messages left for this purpose will be returned. Responses may take up to two business days.