The Travelers Companies, Inc.
Strategic Sourcing Manager
Posted on Jun 9 Hartford, CT 105 views
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.
Job Description Summary
Under general supervision, the Manager, Strategic Sourcing Specialist is responsible for collaborating with Travelers technology organizations in the execution of the Procurement process and related best practices. The position is responsible for strategic sourcing and negotiation of technology contracts, as well as managing a portfolio of technology suppliers and associated technology and business customer relationships. Works cross-functionally in conjunction with Corporate Legal, Businesses, and our Technology organizations in all aspects of strategic sourcing. This job does not manage others.
Primary Job Duties & Responsibilities
- Establish and maintain collaborative and positive working relationships with Technology and business customers and senior management, as well as with various internal and external partners such as Legal, Finance, IT Security, Compliance, Audit, IT, Supplier Management, and Supplier Diversity.
- 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 to high complexity.
- Use negotiation and influencing skills as needed to enlist support from across many levels of the organization to complete a transaction.
- Design, lead and manage cross-functional teams in the preparation and evaluation of end-to-end Request for Proposal (RFP) activities.
- 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.
- Make 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.
- Prepare and communicate final key contracted terms to the business, senior management, and other stakeholders.
- Communicate Corporate Procurement processes, policies and periodic updates on the progress of related sourcing projects to the business and stakeholders, including senior management.
- Communicate and 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.
- Leverage, where practical, across multiple business lines for enterprise purchases to ensure optimal pricing, flexibility, and terms and conditions.
- 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 and programs.
- Monitor and manage, with the business, contract renewal and termination dates.
- Perform other duties as assigned.
- Minimum of 5 years in either IT, finance, operations, or related experience required.
Education, Work Experience, & Knowledge
- Experience in strategic sourcing and/or supplier management preferred.
- Experience in negotiating software, hardware, software-as-a-service and consulting services contracts is preferred.
- Bachelors' or Master’s degree preferred.
Job Specific Technical Skills & Competencies
- Intermediate to advanced proficiency of eSourcing and Ariba procurement applications preferred.
- Intermediate to advanced proficiency of Excel, PowerPoint and Word preferred.
- Intermediate to advanced proficiency of working with a contract management tool/application to ensure all documents are organized and data is entered accurately preferred.
- 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.
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 are a candidate and have specific 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.