Summary: The Sourcing & Contract Manager will have primary responsibility for supporting Standard Insurance’s internal stakeholders with the procurement of services, products, commodities and professional services from various third-party providers. As part of the Supplier Management & Governance team. This role is responsible for leading purchasing and sourcing strategies in collaboration with business partners and budget managers. Sourcing & Contract Managers facilitate the selection of third-party providers through effective negotiations of contracts and service agreements in adherence to company policies and procedures. Effective communication, reporting, and stakeholder coordination are essential delivery elements to ensure customer satisfaction, team member satisfaction and financial success. Additionally, the Sourcing & Contract Manager researches and maintains current views of industry and supplier capabilities, market intelligence and financial analyses to effectively assist with customer sourcing needs. This role partners with key internal business areas such as Legal & Compliance, Human Resources, Third Party Risk Management, IT Asset Management, and Information Security to mitigate a variety of risks.
Principal Duties & Responsibilities:
Develop, review, and negotiate Master Professional Service Agreements and Amendments, Statements of Work, Service Agreements and vendor agreements to support business activities and departmental needs in adherence with SMG’s procedures and company policies.
Draft and redline commercial components and negotiate terms & conditions, pricing, and key contract terms.
Prepare, review, execute, and manage the process for approval of contracts, contract renewals, terminations, and change orders.
Execute purchasing and category strategies while managing the entire procurement process resulting in the best possible terms for value/cost savings, TCO, quality, risk-mitigation, regulatory compliance, service and delivery.
Assist with risk analysis to identify issues and develop risk mitigation strategies. Be able to effectively communicate risk to business owners and functional partners.
Partner with internal stakeholders to define product/service requirements and lead competitive sourcing initiatives/RFx events for product, services, professional services, and IT-related business needs.
Support RFx creation/management, third-party provider communications, market research/analysis, data collection/analysis, third-party provider evaluation and selection recommendations, business proposals and contract negotiations.
Identify and realize cost-reduction and cost-avoidance saving opportunities.
Proactively develop and manage positive relationships with stakeholders, third party providers, business partners, and peers; must be able to balance, influence and align internal customer needs with corporate business goals.
Meet and exceed the expectations and requirements of internal and external customers, establishing and maintaining effective relationships, fostering trust and respect as a “trusted advisor”.
Act as a consultant to business parents and a valued resource to stakeholders for the procurement of goods and services.
Maintain positive relationships with key third-party providers and be able to creatively problem solve issues and effectively handle escalations should they arise.
Lead continuous quality improvements in processes and tools resulting in increased efficiencies.
Follow the strategic direction set by senior management and execute on corporate and departmental goals and initiatives.
Project management skills with the ability to lead and prioritize activities.
Demonstrate proficiency at workload and time management.
Support SMG internal team structure through collaboration, cooperation, and teamwork.
Job Specifications:
1. Education:
Bachelor’s degree requested.
Masters preferred.
2. Experience:
In depth knowledge of Procurement strategy, processes, systems/tools and procurement/supplier management best practices.
3-5 years of experience in contract management, sourcing, procurement, and/or supply management.
Experience in negotiation of assets, outsourced service, hardware and software/Cloud, and professional services contracts.
Proficient in the use of MS SharePoint, Excel, Word and PowerPoint.
Proficient skillset in analyzing cost data, research market trends, identify best practices, and manage supporting contract development activities.
Experience in process improvement and basic Lean methodologies.
Knowledge of legal terminology and language related to supplier agreements.
Proven negotiation, contracting and project management skills.
Demonstrated success in designing content and presenting for senior management.
Flexibility and adaptability to effectively adapting to change.
Demonstrated ability to collaborate well in a team environment, be a critical thinker and an excellent communicator.
3. Nice to have but not required.
CPSM, C.P.M., CPIM, or CSCP or equivalent certification
About Us: Established in 2004, SPECTRAFORCE® is one of the largest and fastest-growing diversity-owned staffing firms in the US. The growth of our company is a direct result of our global client service delivery model that is powered by our state-of-the-art A.I. proprietary talent acquisition platform, robust ISO 9001:2015/ISO 27001 certified processes, and strong and passionate client engaged teams. We have built our business by providing talent and project-based solutions, including Contingent, Permanent, and Statement of Work (SOW) services to over 140 clients in the US, Canada, Puerto Rico, Costa Rica, and India. Key industries that we service include Technology, Financial Services, Life Sciences, Healthcare, Telecom, Retail, Utilities and Transportation. SPECTRAFORCE is built on a concept of “human connection,” defined by our branding attitude of NEWJOBPHORIA®, which is the excitement of bringing joy and freedom to the work lifestyle so our people and clients can reach their highest potential. Learn more at: http://www.spectraforce.com
Benefits: SPECTRAFORCE offers ACA compliant health benefits as well as dental, vision, accident, critical illness, voluntary life, and hospital indemnity insurances to eligible employees. Additional benefits offered to eligible employees include commuter benefits, 401K plan with matching, and a referral bonus program. SPECTRAFORCE provides unpaid leave as well as paid sick leave when required by law.
Equal Opportunity Employer: SPECTRAFORCE is an equal opportunity employer and does not discriminate against any employee or applicant for employment because of race, religion, color, sex, national origin, age, sexual orientation, gender identity, genetic information, disability or veteran status, or any other category protected by applicable federal, state, or local laws. Please contact Human Resources at LOA@spectraforce.com if you require reasonable accommodation. At SPECTRAFORCE, we are committed to maintaining a workplace that ensures fair compensation and wage transparency in adherence with all applicable state and local laws. This position’s starting pay is: $39.95/hr.
