Senior Sourcing and Contract Manager

At The Standard, you’ll join a team focused on putting our customers first.

Our continued success is driven by a high-performance culture. We’re looking for people who are collaborative, accountable, creative, agile and are driven by a passion for doing what’s right – across the company and in our local communities.

We offer a caring culture where you can make a real difference, every day.
 
Ready to reach your highest potential? Let’s work together.

The Sourcing & Contract Manager job family will have primary responsibility for supporting Standard Insurance’s internal stakeholders with:

• the mitigation of supplier-related risk

• the procurement of services, products, commodities, and professional services from various third-party providers

• supplier performance management support for suppliers not managed by the Supplier Relationship Manager (SRM) team

• thought leadership and collaboration on supplier-focused strategy with the Lines of Business we support

As part of the Supplier Management & Governance team, these roles are responsible for leading purchasing and sourcing strategies in collaboration with business partners and budget managers. This job family facilitates the selection of third-party providers through effective negotiations of contracts and service agreements in adherence to company policies and procedures. Effective communication, reporting, and stakeholder coordination are essential delivery elements to ensure customer satisfaction, team member satisfaction and financial success. Additionally, the roles in this job family research and maintain current views of industry and supplier capabilities, market intelligence and financial analyses to effectively assist with customer sourcing needs. These roles partner with key due diligence internal business areas such as Legal & Compliance, Human Resources, Third Party Risk Management, IT Asset Management, and Information Security to mitigate a variety of risks.

Principal Duties & Responsibilities:

• 65% Perform the core duties of the role as described for the Sourcing & Contract Manager position.

• 30% Proactively work with assigned Lines of Business (LOB) to plan, prioritize and execute on the strategic vision of their organization(s.) Assess upcoming renewals for assigned LOBs and provide recommendations. Develop and execute purchasing and category strategies while managing the entire procurement process resulting in the best possible terms for value/cost savings, TCO, quality, risk-mitigation, regulatory compliance, service, and delivery. Collaborate with Source to Contract Managers, Consultants, and Analysts on pass down of renewals and other opportunities that are part of purchasing and category strategies. Proactively collaborate with all functions in Supplier Management & Governance on strategies, sourcing and contracting as developed with assigned LOBs. Develop and execute supplier sourcing initiatives in close collaboration with and across LOBs and divisions.

• 5% All other duties as assigned.

Skills and Background You’ll Need

• 6+ years of experience in contract management, sourcing, procurement, and/or supply management.

  • This experience should include in-depth knowledge of Procurement strategy, processes, systems/tools and procurement/supplier management best practices

• Experience in negotiation of assets, outsourced service, hardware and software/Cloud, and professional services contracts.

• Successful track record of implementation and management of sourcing strategy and vision.

• Substantial experience in process improvement and a functioning knowledge of Lean methodologies.

• Demonstrated success in designing content and presenting for senior management.

• Proficient skillset in analyzing cost data, research market trends, identify best practices, and manage supporting contract development activities.

• Required education: High School Diploma

• Preferred education: Bachelor's degree in Business or related field. Masters preferred.

• Preferred professional licensure or certification:  CPSM, C.P.M., CPIM, or CSCP or equivalent certification is strongly preferred

• Location: Employees in this job family are fully remote and are responsible for maintaining their office setup at home to include private, professional, and safe working conditions.

• Travel Requirements: Occasional travel (such as conferences or team building) may be required.

• Physical Requirements: Ability to work at a computer.

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