Regions Bank Procurement Sourcing Manager in Hoover, Alabama
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At Regions, the Procurement Strategic Sourcing Consultant provides day-to-day management and execution of Sourcing initiatives within a cross functional team. With minimal guidance, this position will generally have responsibility for leading certain expense reduction efforts and associated vendor related engagements and negotiations for certain business units or strategic categories to effectively support the delivery of business outcomes. Associates in this role interact daily with senior and executive level associates within business units to accomplish objectives. Contract negotiation skills, excellent verbal communication, and problem-solving skills are key for success in this role.
Negotiates contracts with service providers that deliver effective business outcomes to include negotiations of SLA’s, terms, risk components, and fee structure
Directs and oversees negotiations with good interpersonal and communication skills, to deliver a desired result
Communicates clearly and effectively within a working team to foster collaboration
Utilizes strategic sourcing approach to determine and prepare request for proposals (RFP)/competitive bid requirements, solicit responses, analyze responses, prepare recommendation and negotiate contracts to enhance efficiencies and reduce costs
Executes the bank’s competitive bidding process and lead strategic sourcing activities for assigned areas
Develops cross-functional teams, business objectives, identify bidding suppliers, set up the RFP in the bank’s P2P system, execute the RFP / competitive bid with suppliers, negotiate contracts and work with business stakeholders to develop recommendations
Partners with key stakeholders and senior leaders in proactively identifying expense reduction opportunities as it relates to suppliers
Analyzes market industry conditions and develops plans to procure goods not related to information technology vendors
Communicates corporate procurement standards to vendors and business partners
Complete and execute RFPs and/or contracts that meet the company’s legal and business requirements
May partner with Procurement Strategic Sourcing Technology Consultant on projects
This position is exempt from timekeeping requirements under the Fair Labor Standards act and is not eligible for overtime pay.
Bachelor’s degree in Business, Supply Chain/ Industrial Engineering, or a related field AND five (5) years of procurement or related experience
OR high school diploma with nine (9) years of supply chain/ industrial engineering, or procurement experience
Professional certification in Supply Chain, Procurement or related field
MBA/Master’s degree in related field
Skills and Competencies
Strong business acumen with ability to understand key business issues, environment surrounding acquisitions and the organizations strategic direction
Ability to lead associates to desired outcomes through influence and gaining buy-in
Strong planning, analytical, and problem-solving skills, with the ability to make good judgements and make quick decisions
Project management skills – ability to manage multiple RFPs, business relationships and initiatives in parallel
Ability to develop executive level relationships and credibility with assigned business units
Excellent communication skills with the ability to present ideas effectively both orally and written
Skilled in establishing and maintaining working relationships with internal clients, vendors and associates and flexible approach to meeting business needs depending on circumstances
Demonstrated ability to execute RFPs and/or competitive bids
Demonstrated contract negotiation skills
Demonstrated ability to negotiate with suppliers and internal customers to maximize value, ensure standardization, successfully resolve disputes, and drive optimal outcomes
At Regions, our culture focuses on five core values that are a commitment to how we will do business:
Put people first
Do what is right
Focus on your customer
Through these values, our mission to make life better drives our desire to improve and make a positive difference in the communities where we work and live through financial investments and volunteering.