Strategic Sourcing Manager Senior

Company: CareerArc
Location: Los Angeles
Posted on: March 24, 2025

Job Description:

STRATEGIC SOURCING MANAGER SENIORWHAT IS THE OPPORTUNITY?City National Bank is looking for a Strategic Sourcing Manager to join their centralized Procurement department supporting all business lines and offices in North America. 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. Train and mentor other Procurement team members.What you will do

• 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 departments 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.
• 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.
• Manage Supplier audit activities.
• Governance of vendor sourcing agreements.
• Manage/mitigate vendor risk, business continuity and security.
• Acts as liaison with vendors to ensure organizational needs are met.
• Prepare and present strategic sourcing strategies for assigned suppliers and/or commodities to senior management.
• Develop / maintain market and technical expertise in assigned buy categories.
• Be recognized as subject matter experts (SME) of their commodity(s).
• Evaluate existing processes and provide process improvement recommendations in line with best practices and practical experience.
• Facilitate activities around supplier audits.
• Mine spend data to identify cost savings opportunities.
• Recommend 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.
• Strong analytical, critical thinking, negotiation and presentation skills.
• Must be able to work at strategic level and if requested tactical (hands-on).
• Perform other duties as required.Must-Have*
  • Bachelor's Degree or equivalent.
  • Minimum 7 years Procurement experience required.
  • Minimum 5 years of experience working for a bank or financial services company required.Skills and Knowledge
    • Must have knowledge of negotiation principles & practices, and procurement practices.
    • Ideal candidate is continuously learning and stays current on industry practices for product and services within the assigned category(s).
    • Must have skill in Negotiation & Drafting.
    • Acts with integrity.
    • Experienced and skilled contract negotiator.
    • Good verbal and written communication skills.
    • Thinks systematically and strategically to analyze issues, develop and create short and long term actionable plans.
    • Effectively manages time and resources.
    • Flexible and adaptable to change.
    • Master's degree a plus.CompensationStarting base salary: $101,231 - $172,355 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 PerksAt 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 NATIONALCity 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.EQUAL OPPORTUNITY EMPLOYER & REASONABLE ACCOMMODATIONCity 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.
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Keywords: CareerArc, Los Angeles , Strategic Sourcing Manager Senior, Executive , Los Angeles, California