The Travelers Companies, Inc.

Sr Analyst, Strategic Sourcing

Posted on Jan 15 204 views Hartford, CT

Company Summary
Taking care of our customers, our communities and each other. That’s the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 160 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.

Target Openings

Job Description Summary
Under moderate supervision, the Sr. Analyst, Strategic Sourcing is responsible for collaborating with Advertising and Marketing business partners in the execution of the Procurement Process and related best practices.
The position is responsible for strategic sourcing and negotiation supporting Advertisign and Marketing areas, as delegated, including Market Research, Digital Marketing, Creative Services, Customer Experience, Corporate Communications, DTC Marketing, UK and Canada Marketing.
This job does not manage others.

Primary Job Duties & Responsibilities
  • Establish and maintain collaborative and positive working relationships with business customers, as well as with various internal and external partners such as Legal, Finance, IT Security, Compliance, Audit, IT, and Supplier Management.
  • Evaluate and negotiate contracts that represent business requirements with a focus to drive optimal Total Cost of Ownership (TCO).
  • Negotiate contracts for adherence to corporate contracting standards and policies and escalate contract terms that impact the supplier risk profile for discussion and approval as appropriate.
  • Work on end-to-end negotiation deals and strategic sourcing events that have moderate complexity and dollar value.
  • Assist cross-functional teams in the preparation and evaluation of end-to-end Request for Proposal (RFP) activities.
  • Assist to draft RFP requirements and other documents, facilitate sessions with suppliers, review bids, conduct supplier analysis, and build supplier evaluation/selection criteria in collaboration with the business and other stakeholders.
  • Assist in making recommendations on sourcing strategies and results to the business, senior management, and other stakeholders.
  • Draft and manage contracts through collaboration with Legal (e.g., master agreement, statement of work, amendment, pricing schedule, service level agreement, etc.) through the established Corporate Procurement processes.
  • Support Corporate Procurement processes, policies and periodic updates on the progress of related sourcing projects to the business and stakeholders, including senior management.
  • Support Supplier Management standards and due diligence requirements when consulting with business customers and partner with the Supplier Management team to resolve issues or questions.
  • Assess, communicate and monitor priority on contract execution based on business impact in partnership with the business, Legal, stakeholders and senior management, as appropriate.
  • Collaborate with Strategic Sourcing team members on sourcing strategy, best practices, and knowledge transfer.
  • Support Supplier Diversity initiatives during sourcing events.
  • Maintain awareness of changing market conditions, as well as strategic business directions and senior management directives that create opportunities for cost savings.
  • Perform benchmarking, spend analysis and other research to enhance results of negotiation and sourcing events.
  • Maintain sourcing documentation to support and audit the selection and sourcing process.
  • Provide some operational support for enterprise purchasing categories.
  • Monitor and manage, with the business, contract renewal and termination dates.
  • Perform other duties as assigned.

Minimum Qualifications
  • Minimum 3 years of strategic sourcing, negotiation, finance or supplier management experience required.
  • Strong interpersonal skills, writing skills and customer service orientation required.
  • Project planning, negotiating, organizing, documenting and problem solving skills required.
  • Requires ability to take quick, decisive action in unique and complex situations to meet corporate business objectives and business requirements.
  • Knowledge of business and legal implications of proposed procurement solutions required.
  • Must have ability to perform equally well in a team environment or individually.

Education, Work Experience, & Knowledge
  • Experience negotiating market research, advertising and communications agencies, software-as-a-service and professional services contracts is preferred.
  • Bachelors' or Master’s degree preferred.

Job Specific Technical Skills & Competencies
  • Basic to intermediate proficiency of eSourcing and Ariba procurement applications preferred.
  • Basic to intermediate proficiency of Excel, PowerPoint and Word preferred.
  • Basic to intermediate proficiency of working with a contract management tool/application to ensure all documents are organized and data is entered accurately preferred.

Employment Practices
Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences.

If you have questions regarding the physical requirements of this role, please send us an email so we may assist you.

Travelers reserves the right to fill this position at a level above or below the level included in this posting.