Strategic Sourcing Generalist
Jersey City, NJ, US, 07311
SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.
In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC MANUBANK, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.
The anticipated salary range for this role is between $128,000.00 and $165,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.
Role Description
This Strategic Sourcing Generalist is responsible for executing on category and supplier spend management strategies for third party supplier spend, executing sourcing projects (competitive bids, single-source negotiations, etc.), and contracting. While this is a generalist role, looking for candidates with strong knowledge of either/any of the following: professional services, technology, and market data.
Role Objectives
- Own a portfolio of vendors in a defined category
- Partner with business stakeholders to define vendor requirements and outsourcing strategy
- Engage with covered vendors through entire onboarding lifecycle including RFAs RFPs risk assessment supplier selection contract negotiation and accounts payable activation
- Advise vendors and business stakeholders on procurement standards to ensure speedy and accurate processing
- Continuously monitor and optimize spend profile of covered vendor category to optimize businessdefined budgets and cost reduction targets where applicable
- Track supplier delivery against key performance indicators
- Leverage performance MI and cost analyses to create list of preferred suppliers within covered category and guide new business users accordingly
- Maintain strong partnerships with business stakeholders and act as advisor on third party vendor strategy and decisionmaking
- Align with vendor managers within covered category to promote holistic supplier coverage and ensure that central standards are upheld in vendor dealings
- Form relationships with management teams of covered vendors to improve understanding of vendors service model and delivery channels
- Leverage relationships to negotiate favorable contracts and renewals for business stakeholders
- Participate in industry roundtables and other forums to deepen relationships with current and prospective vendors and stay current on latest developments in the sourcing space
- Partner with adjacent infrastructure functions in legal risk management HR compliance and accounts payable in executing robust vendor assessments and issue escalation where necessary
- Demonstrate a deep understanding of business requirements in the purchasing negotiation and maintenance of supplier contracts
- Educate business stakeholders on vendor capabilities as appropriate
- Leverage awareness of internal teams systems and procurement standards to efficiently navigate supplier governance requirements at all stages of the vendor lifecycle
- Apply subject matter expertise to continuously curate list of vendors and preferred suppliers in covered category and advise business stakeholders on opportunities for optimization
- Stay current on supplier landscape to inform RFAs RFPs purchasing and vendor negotiations
- Leverage internal and external networks to drive optimal delivery against business requirements
Qualifications and Skills
- Recommended years of experience: 7+ yrs of experience.
- Experience in financial services a strong plus
Preferred Qualifications…
- Collaborator and leadership skills
- Ability to adapt and thrive in an evolving environment
- Strong business acumen.
- Strong issue resolution, negotiation, and project management skills.
- Strong people skills.
- Ability to engage with all management levels
- Initiative-taking /self-starter with ability to work independently
- Experience with PowerPoint and Excel pivot tables.
Additional Requirements
SMBC’s employees participate in a Hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process. Hybrid work may not be permitted for certain roles, including, for example, certain FINRA-registered roles for which in-office attendance for the entire workweek is required.
SMBC provides reasonable accommodations during candidacy for applicants with disabilities consistent with applicable federal, state, and local law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.
Nearest Major Market: Jersey City
Nearest Secondary Market: New York City