Lead Consultant, Strategic Sourcing

Location: Cincinnati
Posted on: November 20, 2024

Job Description:

GENERAL FUNCTION: The scope of the role and the responsibilities encompasses acquisition, structuring and negotiation of long-term third party contracts for goods and services for the Bancorp. Provides Sourcing expertise and leadership for complex, high value, high risk Bancorp Sourcing projects for contracts and/or high dollar spend. Provide guidance and advice to the Business Line leaders and Risk Managers to minimize and manage risks associated with third party relationships. Assists the Group Manager to develop and drive a program that enables the Bancorp to support those customer relationships where the Bancorp is the third party service provider.

DUTIES & RESPONSIBILITIES:

* Lead Sourcing initiatives with business partners to effectively drive the development of Sourcing strategies and execution of projects with high-risk profiles and complexity.

* Provide Sourcing governance expertise to Business Line or Bancorp managers to assist in the risk management of third-party service provider relationships by advising on risk mitigation strategies as well as alternative deal structures that will eliminate possible risks.

* Manages the review process for service provider relationships that impact the Bancorp''s Sarbanes Oxley compliance.

* Apply knowledge of best practices from throughout the Bancorp as they pertain to the risks associated with outsourcing and other third party service provider relationships.

* Lead Business Line(s) and cross-functional teams in formulating business requirements to enable the achievement of strategic and tactical goals.

* Assist the business manager and legal in negotiating terms and conditions related to mitigating identified risk.

* Develop short to long-term Sourcing strategies and execute multiple events concurrently.

* Assist lines of business with the review and monitoring process to ensure compliance with the OSP Policy.

* Develop Sourcing strategies and lead cross-functional teams of business line experts, subject matter experts and Sourcing professionals.

* Coordinate BSP requests and reviews as necessary.

* Ensure contracts, goals, and objectives are aligned with Bancorp objectives.

* Achieve world-class Sourcing results, protect the Bank, and be recognized as one of the subject matter experts for Strategic Sourcing for externally acquired goods and services.

* Develop relationships with key stakeholders to identify current and future business requirements and strategies for third party service provider arrangements.

* In collaboration with project team, manage Sourcing events including needs analysis; market analysis; competitive intelligence; RFI and RFP development; cost and proposal analysis; high level contract negotiation; deal structuring to minimize risk and assistance to develop an effective implementation plan.

* Continually maintain knowledge of market and industry trends and best practices.

* Leads negotiations for service provider agreements and other partnering arrangements.

* Finalize contracts and develop communication, transition and implementation plans.

* Network externally with industry and international experts to facilitate effective strategic intelligence.

SUPERVISORY RESPONSIBILITIES:

* May manage 0-4 subordinates and/or peers within the Strategic Sourcing organization.

* Responsible for developing the appropriate talent pool for succession planning.

* Proficient at coaching, developing and motivating others.

Keywords: , Covington , Lead Consultant, Strategic Sourcing, PR / Public Relations , Cincinnati, Kentucky