Jobs and Careers

Procurement Principal Sourcing Specialist

Riverwoods, IL, United Statesfull_timeVerifiedPosted 20 Nov 2023

💰 $145,700/yr($86,500/yr – $145,700/yr)

About the role

Discover. A brighter future.

With us, you’ll do meaningful work from Day 1. Our collaborative culture is built on three core behaviors: We Play to Win, We Get Better Every Day & We Succeed Together. And we mean it — we want you to grow and make a difference at one of the world's leading digital banking and payments companies. We value what makes you unique so that you have an opportunity to shine.

Come build your future, while being the reason millions of people find a brighter financial future with Discover.

Job Description:

What You’ll Do

Execute sourcing and category management activities for designated category, as directed by Category Management leadership
Partner with internal stakeholders to develop requirements, issue and score RFx events, develop appropriate leverage, negotiate pricing and commercial terms, and assist in contracting.
Bring outside market expertise to assist internal stakeholders and management of optimal supplier pricing and service structures as well as insights to changes in market conditions.
Calculate and report realized savings, and execute category management and sourcing best practices. Establishing and prioritize project plans for sourcing projects will be critical to achieve expected objectives and results.
Actively manage and escalate risk and customer-impacting issues within the day-to-day role to management.

How You’ll Do It

Utilize best in class strategic sourcing process and data driven analytics to negotiate optimal commercial T&Cs that meet or exceed the needs of Stakeholders. Develop and execute RFx, analyze results, establish leverage strategies, and assess award scenarios. Negotiate and approve all commercial terms related to third party contracts to optimize total cost of ownership for Company.
Based on the analysis of Company spend, client activity and the marketplace, develop and recommend the most appropriate sourcing strategy for each project assigned.
Provide expertise within the organization around the supply markets that DFS buys in for designated category, and understand the effects that economic, technological, and governmental changes that impact those markets; share expertise with junior sourcing staff and leadership. Continuously review industry and peer best practices, educate the organization on them, and develop plans to implement those that provide a competitive advantage for DFS.
Utilize sound project management techniques to ensure projects meet objectives and timelines, including development of comprehensive project and communication plans. Maintain team accountability to project deliverables and execute all necessary communications to ensure accurate and timely flow of information to internal customers, stakeholders, and suppliers.
Build positive working relationships both internally and externally to provide DFS with goods and services at the lowest Total Cost of Ownership at the Highest Quality.
Ensure actions are in compliance with department and company policies and procedures, and applicable local, state, and federal laws.

Qualifications You’ll Need

The Basics:

Bachelor's degree in Business or Arts
6+ years of experience in sourcing or related field
In lieu of a degree, 6+ years of experience in sourcing or related field
Lean, Six Sigma

Bonus Points If You Have

Master's degree in Business or Arts

#LI-EB1

Compensation:

The base pay for this position generally ranges between $86,500.00 to $145,700.00. Additional incentives may be provided as part of a market competitive total compensation package. Factors, such as but not limited to, geographical location, relevant experience, education, and skill level may impact the pay for this position.

Benefits:

We also offer a range of benefits and programs based on eligibility. These benefits include: