Senior Sourcing Manager, Financial Services & Market Data
Posted on Sep 27, 2021 by Charles Schwab
Corporate Vendor Management (CVM) at Charles Schwab & Co. is responsible for implementing a firm-wide, end-to-end vendor relationship management process to maximize vendor performance and optimize value. CVM provides strategic sourcing support; identifies, mitigates, monitors, and handles vendor risk; and assists Schwab in meeting regulatory and compliance requirements. The CVM organization is currently seeking to expand category management and strategic sourcing capabilities for Financial Services and Market Data .In addition to sourcing, CVM also partners with business units to identify, mitigate, monitor, and handle vendor risk; and assists Schwab in meeting regulatory and compliance requirements.What you are good at
- The Senior Sourcing Manager, Financial Services and Market Data, will play a crucial role within Corporate Vendor Management (CVM) by providing business partners with category management leadership, planning and expertise.
- The Financial Services and Market Data sourcing role will develop and handle a category plan for vendors that provide financial services which could include technology products and services for merchant/payment, banking and capital markets and/or market data which could include pricing, indices, research, news, reference, and fundamentals data. The Senior
- Manager will develop and execute a category plan through the analysis of supplier inventory, industry trends, business requirements and corporate risk tolerance.
- This position will be responsible for fostering strong relationships with senior Schwab partners in several core business units; developing, maintaining and executing Financial Services and Market Data category sourcing plans; leading all aspects of the strategic sourcing lifecycle; as well as collaborating with Risk groups and Corporate Legal Services, as required, on vendor engagements.
- The Senior Manager will lead competitive sourcing events to identify competitive vendors or alternative solutions that will generate advantage and drive favorable pricing.
- The Sr. Manager will lead the review, analysis, and negotiation of strategic projects, identify competitive vendors or other alternatives to generate advantages and drive favorable pricing and terms and conditions. Gather business and technical requirements and produce vital documentation in support of RFx events. Develop internal presentations and business cases to support management approvals of multi-year vendor agreements. Additionally develop, review, and handle any ad hoc documents requiring special risk and legal reviews.
- Provide economic analysis of vendor proposals and various internal management inquiries for existing or potential vendor expenditures. Identify and document both internal and external risks associated with financial services or market data transactions.
- Work with Finance, Legal, Risk and other subject matter authorities within Schwab to ensure that the policies and procedures and followed and met.
- The Senior Manager will also ensure that industry-leading procurement services and tools are utilized to support growth and evolution of relationships for our suppliers and business partners.
- 7+ years of experience in the sourcing of Financial Services and/or Market Data, category management expertise, strategic sourcing, consulting, vendor management, risk management and/or procurement (required)
- The ability to lead cross-functional teams and to build and handle category management plans that maximize value and mitigate risks while ensuring internal partners' requirements are met
- Consistent and shown track record of building effective working relationships with senior level business partners and internal partners as well as supplier counterparts
- Self-starter, able to balance multiple projects and succeed in a dynamic, fast-paced environment with minimal direction
- Strong negotiation skills and understanding of contract law and risk requirements
- Expertise in sourcing policy, procedures and processes
- Flexible and adaptable in handling/implementing change and understands how change will affect the team, internal
- Business Partners and vendors
- Ability to lead all aspects of multiple projects and work in a fast-paced environment with tight target dates
- Ability to apply organizational change management and consulting skills/knowledge and expertise
- Strong oral and written communication skills
- Strong research and analytical skills
- Strong interpersonal, problem solving, conflict resolution, facilitation, and negotiation skills
- Required proficiency in Word, PowerPoint and Excel; Experience with Ariba, Hiperos, and Tableau is a plus
- Bachelor's degree or equivalent experience; Master's degree in business, supply chain management or technology is a plus
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