Associate Sourcing Coordinator
Associate Sourcing Coordinator
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Job Description
About this role:
Wells Fargo is seeking a...
In this role you will:
- Manage spend categories support Strategic Sourcing strategies and lead contract negotiations with low risk of complexity products or services
- Identify and implement continuous improvement strategies related to category effectiveness and supply chain strategic sourcing processes
- Identify ways to improve cost saving processes within established sourcing procedures
- Issue and evaluate opportunities and conduct reverse auctions
- Perform routine draft of standard contract terms conditions operational and customer support tasks
- Analyze contract data to identify cost saving opportunities
- Ensure compliance with legal and regulatory requirements and escalation procedures
- Receive direction from supervisor and escalate questions and issues to more experienced individuals
- Support purchasing programs with suppliers and ongoing measurement monitoring and reporting of supplier performance
- Ensure compliance with legal and regulatory requirements and escalation procedures
- Identify and implement continuous improvement strategies related to category effectiveness and supply chain strategic sourcing processes
- Work with business groups to conduct reverse auctions
- Act as a primary liaison for the current assigned vendors
Required Qualifications:
- 6 months of Sourcing experience or equivalent demonstrated through one or a combination of the following: work experience training military experience education
Required Qualifications for Europe Middle East & Africa only:
- Experience in Sourcing Procurement or equivalent demonstrated through one or a combination of the following: work experience training military experience education
Job Expectations:
- Understanding and analyze the need for a Third Party and the Risks that it could come with during the process of engagement
- Indepth knowledge of ThirdParty Due Diligence process of Identifying assessing and mitigating third party risks during and after entering contracts during onboarding ongoing monitoring and termination processes
- In depth understanding on different type of Services andengagements with the third Party Service provider
- Gathering information from business on the service evaluating them finalizing compliance and risk evaluations and updating them in the tool as a part of Due diligence activities
- Follow up with the Risk Partners and provide adequate responses incaseof any questions / queries about the provided responses Collaborate with Lines of Business and other required stakeholders
- Serving as a Subject Matter Expert (SME) to identify and address key third party related risks and areas of concerns associated with new and existing thirdparty relationships.
- Ability to translate the Risk Entities tothe Line of business and address the requirements and concerns
- Determine areas of strength or Business opportunity within defined scope of work
- Review and research strategies and action plans 7to establish effective processes while meeting performance metrics and policy expectations.
- Present recommendations to develop implement and monitor strategic approaches effectiveness of support function and business performance improvement opportunities for managing risks of the business.
- Ability to challenge Lines of Business if needed during the process of Risk evaluation andalso provide interim/ adequate communication wherever needed
- Develop expertise in the Enterprise Third Party Risk Management policies
Posting End Date:
27 Apr 2025*Job posting may come down early due to volume of applicants.
We Value Diversity
At Wells Fargo we believe in diversity equity and inclusion in the workplace; accordingly we welcome applications for employment from all qualified candidates regardless of race color gender national origin religion age sexual orientation gender identity gender expression genetic information individuals with disabilities pregnancy marital status status as a protected veteran or any other status protected by applicable law.
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliancedriven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for of all applicable risk programs (Credit Market Financial Crimes Operational Regulatory Compliance) which includes effectively following and adhering to applicable Wells Fargo policies and procedures appropriately fulfilling risk and compliance obligations timely and effective escalation and remediation of issues and making sound risk decisions. There is emphasis on proactive monitoring governance risk identification and escalation as well as making sound risk decisions commensurate with the business units risk appetite and all risk and compliance program requirements.
Candidates applying to job openings posted in US:All qualified applicants will receive consideration for employment without regard to race color religion sex sexual orientation gender identity national origin disability status as a protected veteran or any other legally protected characteristic.
Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates including women persons with disabilities aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.
Applicants with Disabilities
To request a medical accommodation during the application or interview process visitDisability Inclusion at Wells Fargo.
Drug and Alcohol Policy
Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.
Wells Fargo Recruitment and Hiring Requirements:
a. ThirdParty recordings are prohibited unless authorized by Wells Fargo.
b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.
Required Experience:
IC
Employment Type
Full-Time
