VP, Sourcing

Job Description:

Role Summary/Purpose:

The VP, Sourcing will be responsible for sourcing products and services essential for our Growth Marketing function. Role will be responsible for all phases of sourcing that require skills necessary to identify cost saving opportunities, assure continuity of supply, create competitive environments, creatively negotiate and generate contracts to assure seamless availability of products and services. This role will partner with business stakeholders in leading the development of the sourcing strategy and meeting business objectives. Role will also be responsible for developing strong cross functional and supplier relationships, executing the sourcing process utilizing Coupa tool and develop a cadence of clear communication of project status to both business stakeholders, sourcing leaders and suppliers.

Our Way of Working

We’re proud to offer you choice and flexibility. At Synchrony, our way of working allows you to have the option to work from home, near one of our Hubs or come into one of our offices. Occasionally you may be required to commute to our nearest office for in person engagement activities such as business or team meetings, training and culture events.

Essential Responsibilities:

• Partner with key stakeholders to develop comprehensive sourcing strategy aligned with the company's overall business objectives.

• Continuously assess and adjust the strategy to respond to market dynamics and industry trends.

• Supplier Relationship: Build and maintain strategic relationships with key suppliers. Negotiate and manage supplier contracts, pricing, renewals and performance to ensure the highest quality and cost-effective solutions.

• Cost Management: Drive cost-saving initiatives through strategic sourcing, negotiation, and process optimization. Identify opportunities for cost reduction and efficiency improvements.

• Lead category sourcing with autonomy and accountability over buy and cost reduction targets.

• Provide leadership to Growth Marketing function with strong process responsibility to ensure our policies and process are followed to meet business timelines and objectives.

• Execute on cost reduction targets, supplier consolidation and utilization and partner with the assigned function to drive sourcing strategies across the functions and Synchrony.

• Ensure sourcing process integrity and maintain compliance to company policies.

• Develop comprehensive partnership with Legal and business owners to negotiate and draft agreements with appropriate business protections.

• Conduct RFPs, RFQs, supplier research and identification, benchmarking, qualification and competitive analysis of required products and services.

• Ability to travel up to 25%.

• Perform other duties and/or special projects as assigned.

Qualifications/Requirements:

• Bachelor’s degree with a minimum 7+ years of progressive leadership experience in sourcing or related function and demonstration of strong leadership, execution, and significant business and bottom-line contributions

• Experience working in the Financial Services Industry

• Proficiency in Microsoft Office applications, including Word, Excel, and PowerPoint

Desired Characteristics:

• 4+ years of Sourcing experience managing marketing products and services

• Proven strong facilitation skills and experience delivering presentations

• Outstanding oral and written communication skills at all levels of the organization

• High enthusiasm and desire to work in fast paced, ever changing environment

• Proven track record working work independently and effectively managing multiple priorities

• Demonstrated experience managing complex initiatives across multiple teams/platforms

• Strong commercial skills and ability to interact with suppliers

• Demonstrated project management skills

• Proven quantitative and analytical skill set

Grade/Level: 12

The salary range for this position is 110,000.00 - 185,000.00 USD Annual and is eligible for an annual bonus based on individual and company performance.

Actual compensation offered within the posted salary range will be based upon work experience, skill level or knowledge.

Salaries are adjusted according to market in CA, NY Metro and Seattle.