Procurement Specialist (Technology & Software)

Description

ABOUT US

Coastal Community Bank is a leader in Banking with strong Financial infrastructure leading Banking as a Service (BaaS) and Fintech strategies. The people at Coastal not only help people with their personal banking; they help businesses with banking technology integration that leads to business growth, flexible financing, and unimagined potential. We think and work like entrepreneurs, always moving and constantly improving. We are go-getters, work hard, and play hard. If you're someone who thrives on innovation, wants to help others succeed, knows how to think outside the box, and believes that we're all in this together -- you belong here.

Check out our video here!

Requirements

OVERVIEW

The Procurement Specialist (Technology & Software) leads end-to-end sourcing and purchasing activities for the software, cloud, and technology services that power Coastal’s BaaS platform. This role partners cross-functionally with Engineering, Product, Legal, TPRM, and Finance to source, evaluate, and negotiate with vendors, drive commercial savings, and ensure contracts and suppliers align with regulatory and security expectations.

You will own the intake-to-award lifecycle for new technology buys and renewals, including business case development, market scans/RFx, negotiations, contract execution, purchase order creation, and ongoing vendor/contract hygiene. You will develop cost models and total cost of ownership (TCO) analyses, optimize license consumption, and maintain accurate software and services inventories to reduce spend, minimize risk, and improve time-to-value for internal stakeholders and BaaS partners.

RESPONSIBILITIES TO INCLUDE

• Manage end-to-end sourcing for technology categories (SaaS, cloud IaaS/PaaS, developer tools, observability, cybersecurity, data platforms, KYC/AML & fraud, payments/card processing tech, customer support and ticketing, and professional services).
• Run structured RFx processes (RFI/RFP/RFQ), vendor due diligence, and competitive analyses; create award recommendations grounded in TCO, risk, and performance.
• Lead commercial and contractual negotiations (MSA, SOW, Order Forms, SLAs, DPAs/Privacy Addenda, security exhibits, BAAs where applicable), partnering with Legal and InfoSec.
• Prepare business cases, cost/benefit models, and should-cost analyses; benchmark pricing and terms against market norms.
• Own renewals and true-ups; optimize license tiers, user counts, and utilization; avoid auto-renew surprises through a disciplined renewal calendar.
• Support audit and exam readiness by maintaining complete sourcing files and evidence of competitive process, approvals, and monitoring.
• Collaborate with BaaS business leaders to anticipate partner-driven technology needs; enable rapid, compliant onboarding of critical vendors for new fintech programs.
• Identify and deliver measurable savings and cost avoidance while balancing speed, resilience, and risk.
• Develop and publish procurement policy, playbooks, and templates; coach stakeholders on process, timelines, and best practices.
• Track and report sourcing pipeline, cycle times, savings, renewal health, and compliance metrics to leadership.

QUALIFICATIONS

• 4+ years of procurement/strategic sourcing experience with a focus on technology/software; financial services, fintech, or highly regulated industry strongly preferred.
• Demonstrated success running RFx processes and negotiating commercial and legal terms for SaaS, cloud, and professional services agreements.
• Strong analytical skills: Excel-based cost modeling, TCO/ROI analysis, and scenario modeling; ability to translate usage data into optimal license strategy.
• Comfortable redlining business terms (pricing, SLAs, service credits, termination rights, data use, subcontracting, information security, privacy) and partnering with Legal on risk allocation.
• Proven stakeholder management and communication skills with Engineering, InfoSec, Product, Finance, and executive leaders; able to influence without authority and drive decisions.

EDUCATION/EXPERIENCE

• Bachelor’s degree in Business, Finance, Information Systems, or related field; or equivalent practical experience.
• Professional certifications a plus (e.g., CPSM/ISM, CTPRP/Shared Assessments, PMP, or similar).
• Proficiency with Procurement software, Ironclad, Docusign, Microsoft Office.

HOW YOU’LL THRIVE AT COASTAL

• Be the Best – Communicate effectively, pay close attention to