Reporting to the Sr Category Director Professional Services, the Senior Category Manager Professional Services / Consulting is responsible for managing all demand management and supply management activities for one or more categories of spend, with the goal of optimizing the total cost of ownership, managing supplier risk, ensuring suppliers adhere to needed timelines, and meeting all business stakeholders’ needs. Serve in a relationship management role with key business/executive partners to drive collaboration, prioritization of business needs for contract support, and ensure engagement of appropriate resources across TSSM to deliver supply value with effective risk mitigation. Actively manage pipeline of projects for team and ensure project delivery to agreed upon timelines and expectations. The Senior Category Manager will be responsible for categories with medium/high spend levels, medium/high strategic importance and/or categories which require strong business relationships with senior-level peers in the LOBs or other business functions. He/she should have a deep understanding of the specific dynamics of category requirements as well as the supply market to be able to develop and execute a fit-for-purpose category strategy for the organization. As a lead for the Consulting category the position also runs a strategic company wide spend challenge program designed to optimize external third party expense with the internal needs and demand of Truist.
ESSENTIAL DUTIES AND RESPONSIBILITIES
1. Effectively develop and partner with Category Managers/Directors to implement category strategies with medium/high spend levels, complexity, and strategic importance within his/her portfolio to optimize business efficiency and drive maximum value.
2. Develops an understanding of the current category activity within Truist and determines where SSM can have a greater involvement and drive value. Specializes by developing deep expertise within the category(s). Maintains deep understanding of global supply markets, competitors and product innovations.
3. Builds strong relationships with ‘internal customers’ and industry suppliers. Partners with Business Leaders and Executives to ensure that sourcing strategies/category plans and execution are aligned with the Business and MoE/ecosystem Goals.
4. Leads cross functional teams in the development of category specifications, RFIs, RFPs, contracts, and sourcing project plans.
5. Performs market data analysis for negotiations and supplier selection, and leads high-complexity sourcing events. Compiles commodity profile details such as supplier performance, volume forecasts, and design specifications. Analyzes trends and dynamics of supply markets, and prepares commodity-specific performance metrics & dashboards.
6. Ensures that best practices in the sourcing process are followed. Execute the full sourcing process which includes development of scope, supplier selection, commercial negotiation, third party risk acceptance and contract execution. Engages risk stakeholders as needed for sourcing activity.
7. Drive to remedy inconsistent vendor performance across the enterprise and improve vendor performance/optimizing allocation of spend.
8. Promote risk excellence and sound risk management as the first line of defense by driving and owning bank-wide policies including sourcing and purchasing, travel and expense reimbursement and contingent workforce. Also ensure compliance with Bank policies for regulatory directives and other firm-wide policies.
9. Promote risk excellence and sound risk management as the first line of defense by driving and owning bank-wide policies including sourcing and purchasing, travel and expense reimbursement and contingent workforce. Also ensure compliance with Bank policies for regulatory directives and other firm-wide policies.
10. Actively manage pipeline of projects for team and ensure project delivery to agreed upon timelines and expectations.
11. Participates in special projects and performs other duties as assigned.
1. A Bachelor’s degree is required
2. 6 to 10 years of relevant experience in sourcing (and related functions) with regulated organizations known for the strength of their operational, customer service, and risk excellence.
3. Knowledge of the market, suppliers and cost drivers. Demonstrated experience with managing matrixed supplier relationships
4. Direct management experience of a sourcing/procurement team function with strategic development responsibilities in Financial Services and/or heavily regulated industry
5. Ability to learn content quickly and apply a strategic lens to category spend
6. Ability to engage and communication with internal and external stakeholders
7. Track record of success in supplier consolidation and driving spend to preferred suppliers
8. Subject Matter Expertise in strategic sourcing methodology and techniques
9. Demonstrated ability to develop client relationships
10. Proficient analytical skills
11. Proficient written and verbal communication skills
12. Proficient project management and time management skills
13. Proficient business acumen
14. Proficient negotiation and influencing skills
15. Proficient interpersonal skills with the ability to communicate effectively at all levels, particularly at the management level
16. Self-motivated, with executive presence and presentation skills
1. An MBA, Masters in Supply Chain and industry certifications are preferred
2. Ideally, this experience should be broad based involving several of the following functions: procurement, sourcing and third party management