IT Principal Analyst II - Strategic Sourcing

Job Title:

IT Principal Analyst II - Strategic Sourcing

Location:

Block 23

What you'll do:

IT Business Operations is seeking a Procurement Professional experienced in aligning IT governance, IT risk management, IT finance, and IT Vendor management, with IT Strategic Sourcing results. This IT Strategic Sourcing Professional will concentrate on establishing and enhancing Sourcing strategies and processes within the IT department leadership with Vendors and related products and services. Additionally, the role will integrate governance, risk management, and finance into the IT sourcing and procurement process.

The responsibilities include creating an IT-focused sourcing methodology by facilitating Requests for Information (RFI), Requests for Proposal (RFP), Requests for Quote (RFQ), and Reverse Auctions. This includes designing appropriate procedures, governance, and oversight. The position will interface with the company's Vendor Management team during vendor selection, risk assessment and other stages of the Vendor Management Lifecycle as needed.

The successful candidate will analyze spend categories via financial results, collaborate with IT leaders to develop “make vs. buy” strategies, facilitate large, high-visibility RFP events, negotiate business, price, service level contract terms, and host vendor business reviews for mission-critical IT vendors. Reporting directly to the Director of IT Business Operations, you will help architect a repeatable and scalable sourcing and category management function for IT.

• Execute Sourcing Events and Vendor Selection: Primarily lead competitive sourcing events in collaboration with IT or joint IT/Business sponsors. Develop and bring best practices into the competitive sourcing process. Host RFP events such as service\product demonstrations, question-answer sessions, elimination round conversations, and contract award scenarios. Leverage RFI to learn new market offerings and capabilities. Support project budgetary assumptions through RFQ.  Monitor market trends.
• Optimize Cost and Develop Saving Strategies: Working with the Director of IT Business Operations and Financial Planning, lead and own the blueprint for a value-add savings methodology impacting the Bank’s operating and capital expenses. Create favorability within IT budgets and define a process to measure and track savings value inclusive of hard P&L savings, cost avoidance, savings wrap, and other value-adds. Monitor market trends for best practices.
• Lead Vendor Contract Negotiations: Facilitate contract review and negotiation between the Vendor, Business Sponsors, and Legal. Redline general business terms for SLA performance, pricing, discounts, risk of loss, and payment. Develop incentive-based rebate programs. Act as a counterpoint to the vendor account team and encourage or remediate vendors through periodic business review forums. Create a scalable rate card strategy with all labor-based IT vendors and begin executing rate cards. 
• Partner with IT Sponsors: Assist IT vendor sponsors. Provide advisory services around selection and negotiation strategies. Provide spend intelligence and optimization opportunities within a sub-set of vendors or categories of spend. Help IT define periodic business review objectives, and performance scorecards to guide such business reviews.
• Partner with Supportive Stakeholders: Act as a primary liaison within IT to Vendor Account Teams, VMS Risk Assessment, Project Management, Legal, and Finance. Assist in budgetary costing for proposed business cases.
• Be an Individual Leader: Mentor, educate, and share best practice approaches with other levels on the team. Be comfortable in a highly visible role and a proponent of challenge or change.  Drive adoption of new practice and procedures and governance
• Perform other duties as assigned, including assisting with regulatory compliance risk assessments and related infrastructure enhancements

What you'll need:

• 10+ years of direct experience in a strategic sourcing or procurement role is a must.
• Bachelor's Degree in  in Supply Chain, Business, or Finance.
• Must have significant experience with facilitating sourcing events that exceed $1M of addressable indirect spend in general areas such as contingent labor, staffing agency, and IT category planning in hardware, software, network, managed development services strongly desired.
• Subject Matter Expert in Technology or Cloud-based SaaS/IaaS/PaaS a plus. Prefer experience in Volume Licensing, Enterprise Agreements, AWS\Azure, IBM Passport, Oracle, or managed IT service operations in application development or help desk break-fix.
• Must be comfortable working with contract terms and Legal personnel during redline negotiations.
• Subjec