VP Sourcing and Procurement (Hybrid)
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Job Location:
Wilmington, DE - USA
Monthly Salary:
Not Disclosed
Posted on:
2 hours ago
Vacancies:
1 Vacancy
Job Summary
Overview
***This position is available as a hybrid position in our Wilmington DE or Sioux Falls SD office.***
Provides strategic leadership direction and oversight of all sourcing vendor management and procurement functions. Responsible for developing global sourcing strategies optimizing supplier relationships ensuring compliance with regulatory and corporate policies and achieving cost savings while maintaining high standards of quality risk management and service delivery. Aligns closely with Third Party Risk Management Legal Compliance Business Lines Finance HR Operations Facilities and Information Technology.
Responsibilities
- Manages vendor relationships specifically IT vendors to ensure a quality and cost-effective IT purchasing function. Works with business line owners to manage each relationship ensuring that multiple departments use similar vendors to obtain the best pricing and services for the organization. Consolidates vendor services as needed with internal business heads.
- Prepares strategic purchasing plans with business leaders. Discusses multi-year strategies and develop and manage policies and procedures related to the procurement of IT and other goods and services and as well as the management of existing vendor relationships.
- Delivers executive summaries and presentations to senior leadership detailing cost quality and service delivery analyzing gaps and opportunities at the corporate level and making recommendations.
- Selects company product and service providers based on vendor analysis. Researches and interviews suppliers. Evaluates vendor quotes and services to determine most desirable suppliers. Provides recommendations to senior leadership.
- Negotiates pricing to ensure products and services are purchased.
- Manages vendor performance and productivity identifying tracking and reporting on appropriate metrics. Develops and evaluates effectiveness of the VMO in supporting IT services and suppliers.
- Provides advice and guidance to managers and executives regarding purchasing and vendor assessment standards and processes. Ensures third party vendor controls are in place for items such as vendor diversity and system/IT purchases.
- Monitors contract renewal expiration and pricing dates. Develops contractual standards. Manages contract repository to ensure contracts are current and follow up as critical contract dates approach.
- Leads the contract renewal and associated administrative processes. Facilitates the resolution of issues by working with internal partners to resolve outstanding terms and conditions and ensure that the contract approval and signatures are obtained. Facilitates and schedules meetings with the relevant parties to provide timely resolutions.
- Manages RFPs in response to requests from business lines and partners.
- Monitors third party vendor performance against contractual requirements to ensure service level agreements are being met. Follows up with vendors and internal teams.
- Performs other duties as assigned.
Qualifications
- Bachelors degree or an equivalent combination of training and experience.
- 8 years of Sourcing and Procurement experience.
- Strong working knowledge of legal and contract terms and conditions.
- Excellent analytical and decision-making skills.
- Demonstrates a high level of attention to detail.
- Consistent track record of producing high quality results.
- Ability to lead groups people toward common goals.
- Excellent verbal written and interpersonal communication skills.
- A team player able to work effectively in a team fostered multi-tasking environment.
- Proficient in Microsoft Office suite e.g. Excel PowerPoint Word Outlook.
- No travel required.
Additional Information
This job will be open and accepting applications for a minimum of five days from the date it was posted.
Working at The Bancorp Bank N.A. and Benefits Information: Culture & Background Screening Employment with The Bancorp Bank N.A. includes successfully passing a background check including credit criminal education employment OFAC and social media background history. #LI-CB1 #LI-Hybrid
Required Experience:
Exec
Key Skills
- Sales Experience
- Marketing
- Public Relations
- Pricing
- Sales Pipeline
- Outside Sales
- Strategic Planning
- Social Media Management
- Sales Management
- Enterprise Sales
- Public Speaking
- negotiation
About Company
For over 20 years, The Bancorp has been providing nonbank companies with the people, processes and banking technology that are essential in meeting their individual needs
