VP / Technology Procurement Lead, Sourcing & Category Management
Posted on Nov 21, 2018 by New York Life Insurance Company
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The Technology Procurement Lead reports to the Chief Procurement Officer (CPO) and is accountable for the source to contract procurement functions for New York Life for the Technology category. This includes activities for Relationship Management, Category Management and Sourcing execution across the technology category throughout the enterprise. The Technology Procurement Lead is responsible for successfully engaging in activities that influence highly effective sourcing and stakeholder relationship management, and governance of the sourcing and contracting functions that includes development of the technology category plan to enable value creation. The Technology Procurement Lead is responsible for effectively managing people and resources to execute sourcing and contract processes and initiatives that meet or exceed performance targets.
The Technology Procurement Lead manages technology stakeholder relationships and the Technology Category as well as any co-sourcing partner(s) . Success in this position involves a deep understanding of the Procurement functions including category management and strategic sourcing as well as procurement strategy development, and the ability to influence key stakeholders.
- Establish and manage collaborative business stakeholder relationships across the technology enterprise to facilitate effective management and encourage utilization of procurement across all business units
- Ensure that a framework of policies, practices and procedures is in place to promote prudent risk taking, effective change management and good corporate governance across the technology sourcing and contract functions
- Provide leadership and support to ensure quality delivery and cost effectiveness of the sourcing and contract functions to the Technology organization
- Align sourcing and contracts with the Supplier and Third Party Risk Management strategies and processes
- Align sourcing and contracts with the Procurement Operations buying channels
- Provide input in the planning and financial budgeting and target setting for the source to contract functions within the Procurement organization
- Work directly with co-sourcing partner to ensure that relationship goals are established and met and any issues are appropriately escalated
- Promote strong compliance to ethical standards across employees
- Procurement Process Knowledge - Demonstrates a deep understanding of relevant and best in class procurement processes (e.g., category management, strategic sourcing, contract management, purchasing).
- Sourcing Strategy Knowledge- Extensive knowledge and proven success in executing sourcing processes and developing strategies .
- Category Management Knowledge - Extensive knowledge and proven success in understanding and applying category management strateg ies, developing category management processes and planning requirements, supply strategies, supply contracts and managing vendor relationships .
- Customer Relationship Management- Knows Procurement's customer groups and characteristics of these customer groups. Works to understand customer requirements and uses this information as an input into decisions. Develops and fosters mutually beneficial customer relationships.
- Strategic Planning -Creates, executes, and monitors strategic plans based on NYL's Procurement's vision, guiding principles, business goals, and capabilities
- Leadership - Demonstrates the ability to effectively lead in a dynamic, complex environment to achieve targeted outcomes. Makes timely decisions.
- Budget and Finance- Demonstrates an understanding of budgetary and financial functions, with ability to work with Procurement operations and Corporate functions to translate procurement savings into value creation initiatives using approved methodologies.
- Continuous Improvement- Collaborates with internal and external stakeholders to evaluate current business processes to streamline I remove inefficiencies
- Project Management- Demonstrates the ability to design, plan, and manage projects to deliver value- added solutions within defined time and cost parameters . Ability to manage multiple projects at the same time .
- Business Judgement- Demonstrates an understanding of internal business processes, external customer segments, strategic direction and business objectives . Aligns recommendations and decisions with Procurement's vision and guiding principles.
- People Management- Displays the ability to support and manage individuals to achieve agreed upon objectives . Provides individuals with timely feedback on what they are doing well and what their opportunities are for further development.
- Oral Communication - Communicates clearly and adapts style to suit audience requirements .
Education and Certification Requirements
- 10+ years' experience in procurement, with responsibility for technology category management and sourcing functions, with increasing leadership responsibilities
- Bachelor's degree preferably in business, finance or other related discipline
- Knowledge of the financial services I insurance industry preferred
- A recognized qualification in procurement or operations would be considered an asset
- Knowledge of the financial services industry, economic market and regulatory environment
- Ability to apply industry and procurement knowledge to client business practices, especially Technology
- Managerial and leadership skills to effectively integrate functions
- Experience managing third party vendors and associated spends
- Proven expertise working in best in class procurement organizations focusing on strategic sourcing and category management across the technology category and disciplines
- Transformation experience focused on people, process, and technology with experience in Change Management and driving user adoption
- Ability to influence up, down and across the organization with the ability to interface with C-level roles
- Advanced influence and negotiating skills sufficient to shape decision-making process on complex matters such as contract negotiations and management of service provider
- Build a high functioning team demonstrating trust and mutual respect
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VP / Technology Procurement Lead, Sourcing & Category Management