Manager, Strategic Vendor Sourcing

Monday, March 22, 2021 - 00:00
Navy Federal Credit Union
Vienna, VA

Responsible for developing, implementing, and managing a performance-based contracting program in support of Navy Federal’s enterprise strategy and business operations. Establish criteria for, create, and maintain a preferred vendor program related to specific category areas. Contribute to and support the realization of the organization’s strategic sourcing vision in line with overall business performance goals. Work is performed under general direction of the SVP, Procurement & Vendor Management.

Responsibilities:

•    Collaborate with business leaders on their needs and develop category strategy to drive and support functional business goals and objective
•    Lead source selection activities of pre-qualified vendors in the program, including conducting market analysis to determine potential sources  
•    Negotiate participation agreements that include among other things, terms of participation such as response time and obligation to accept orders, delivery, inspection, acceptance, performance, etc.
•    Review and advise on draft requirements that will be competed among the vendor participants for eligibility and clarity, including fixed-price/task-based descriptions with a goal of minimizing change requests and disputes
•    Ensure requirements are assessed by third-party assessment functions (e.g., InfoSec, EPMO, etc.)
•    Develop Request for Quotes (RFQs) based on requirements
•    Develop selection criteria based on lowest priced responsive quote and past performance data once sufficient past performance data becomes available in terms of quantity and quality
•    Obtain and analyze vendor performance and delivery data for to ensure quality, consistency, and fairness
•    Prepare and deliver regular status updates to management and other key stakeholders on strategic sourcing and market analytics, and cost saving strategies
•    Conduct regular market analysis to identify and recommend category vendor sourcing options 
•    Maintain vendor related documentation, including source selection records , supplier performance information, compliance metrics, and value capture results
•    Conduct periodic and risk-based assessments of the vendors’ participation
•    Manage vendor relationships from new vendor setups through to contract renewals and renegotiations
•    In coordination with business units, maintain key performance metrics appropriate for each category and suppliers
•    Coordinate with staff in business unit/functional areas such as enterprise strategy, legal, operations and other support functions to ensure strategies and agreements are well defined and aligned with Navy Federal’s strategy and business operations
•    Manage the contractual relationship with vendors to ensure needs of business units are being met; address business unit concerns regarding the quality and availability of materials and services with the vendor; and manage conflicts efficiently and effectively, involving other stakeholders as appropriate
•    Serve as primary point of contact for strategic sourcing related issues
•    Maintain knowledge of current category trends, supplier capabilities and changes within the supplier and technology landscape 
•    Identify and manage resources needed to maintain program
•    Build and maintain relationships with lines of business, team members, management, key stakeholders and external contacts (e.g., vendors, etc.)
•    Perform supervisory/managerial responsibilities
    o    Ensure adequate/skilled staffing; select employees
    o    Establish performance goals and priorities
    o    Prepare, conduct and review performance appraisals
    o    Develop, mentor and counsel staff
    o    Provide input and/or prepare budget requirements for Annual Financial Plan (AFP)
    o    Ensure section goals and objectives align with division/department strategy
    o    Ensure efficiency of operations
    o    Leadership Level – Supervise daily activities
•    Perform other duties as assigned

Qualifications and Education Requirements:

•    Bachelor’s degree in Business Administration, Finance, or related field, or the equivalent combination of education, training and experience
•    Advanced knowledge of a broad range of technologies, purchasing channels, contracts, negotiation techniques, strategic sourcing process, partner management, and vendor management
•    Significant experience in strategic sourcing, supplier management, purchasing for a large organization, preferably in IT sourcing for a large financial services organization
•    Experience in all aspects of the procurement life cycle from market research to sourcing, negotiation, and vendor relationship and performance management
•    Demonstrated track record in developing and implementing sourcing strategies (e.g., suppliers, processes, etc.) that meet business objectives
•    Demonstrated ability to interpret complex policy, legal, contractual or regulatory procurement requirements
•    Advanced knowledge and understanding of supplier markets and supply chain process
•    Advanced knowledge of category management best practices
•    Working knowledge of information technology infrastructure
•    Advanced consultative, conflict resolution, negotiation and facilitation skills to gain consensus and reach agreeable exchange and positive outcomes
•    Significant experience in delivering presentations to virtual and in person teams
•    Significant experience in working with all levels of staff, management, stakeholders, vendors
•    Advanced skill to successfully prioritize and solve for complex problems, factoring instances of ambiguity and unexpected change
•    Advanced problem solving, collaboration, analytical, team building, and presentation skills
•    Advanced skill communicating thoughts, concepts, practices effectively at all levels, adjusting as needed to a target audience
•    Advanced skill to execute in a fast paced, high demand, environment while balancing multiple priorities
•    Advanced skill presenting findings, conclusions, alternatives and information clearly and concisely
•    Ability to effectively work across teams and functions in a team environment with minimal oversight and maximum flexibility
•    Highly motivated self-starting performer, with a demonstrated ability to influence and lead others while also working independently in a fast-paced high pressure environment 
•    Expert verbal, interpersonal, and written communication skills
•    Advanced skill in the use of Microsoft Office Products (e.g., Word, Excel, etc.)

Desired Qualifications and Education Requirements:

•    Master’s degree in Business Administration, Finance, or related field
•    Advanced knowledge of banking/financial industry trends, products and services
•    Advanced understanding of Navy Federal functions, philosophy, operations and organizational objectives

Hours: Monday – Friday, 8:00 am to 4:30 pm

Location: 820 Follin Lane, Vienna VA 22180