Vendor Risk Jobs in Norwich, CT (NOW HIRING)

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The HR and Advisory Services Sourcing team within Enterprise Sourcing is seeking a Sourcing Manager to build and maintain relationships for business aligned services to First Citizens Bank.  In this role as an individual contributor, the Sourcing Manager will build relationships with their business owners.  This position sources, procures, and provides business support for cost-effective products and services from vendors for the Bank's internal clients. Delivers outstanding client service while fostering collaborative relationships. Provides innovative, timely, and accurate solutions aligned to the Bank's risk appetite. Conducts sourcing events (RFx) for products and services to meet the requirements of Bank business initiatives. Structures and negotiates terms and pricing for various services, software, hardware, staffing, consulting and outsourcing agreements required to support business needs and deliver cost savings.  Works collaboratively with the Third Party Risk Management (TPRM) team to ensure contract terms align with risk management standards and regulatory expectations.

• Business Support - Develops a strong understanding of existing vendor contracts and services in support of each assigned business owner, establishing the role of trusted advisor.  Meeting business line objectives, deliver cost savings, improve efficiency, and ensure overall vendor value delivery
• Vendor Sourcing - Oversees sourcing events (RFx) conducted in support of business initiatives in order to contract for new products and services.
• Contract Structuring and Negotiation - Successfully and independently manage complex contract negotiations supporting business owner needs.  Aligning with Third Party Risk Management (TPRM) standards and regulatory expectations.
• Program Management Support - Actively collaborates and participates in planning and coordinating the delivery of sourcing initiatives that support enterprise cost objectives.
• Relationships - Collaborates with TPRM on new products and services to address inherent risk in contract structuring and negotiation.
• Price Negotiations - Delivers cost savings, price reductions, and cost avoidance opportunities for new and renewed contracts.
• Compliance - Ensure compliance with industry regulations, ethical sourcing practices, and corporate policies during the procurement process

Personal Characteristics

• Exceptional communicator and influencer, with the ability to engage and align stakeholders at all levels
• Strong leadership skills. Ability to lead and motivate vendors and others within the company
• Customer-service orientation. Skilled in establishing and maintaining a high level of trust and confidence
• Must be a self-starter with high levels of attention to detail
• The successful candidate must possess the sophistication, communication, and interpersonal relationship skills to achieve results through credibility and earned influence

Bachelor's Degree and 8 years of experience in Contract structuring and negotiation for services, software, staffing, software as a service, consulting, and outsourcing services contracts OR High School Diploma or GED and 12 years of experience in Contract structuring and negotiation for services, software, staffing, software as a service, consulting, and outsourcing services contracts

Preferred Qualifications

• Significant experience redlining and negotiating agreements for various services.
• Relationship management
• Knowledge of supply base and sourcing business practices specific to financial services preferred

Preferred Education: Bachelor's Degree

License or Certification Type: Certified Regulatory Vendor Program Manager Preferred, Member of Contract and Commercial Management certification by the International Association for Contract and Commercial Management Preferred, Certified Professional in Supply Management Preferred

#LI-CO1

Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.

Bachelor's Degree and 8 years of experience in Contract structuring and negotiation for services, software, staffing, software as a service, consulting, and outsourcing services contracts OR High School Diploma or GED and 12 years of experience in Contract structuring and negotiation for services, software, staffing, software as a service, consulting, and outsourcing services contracts

Preferred Qualifications

• Significant experience redlining and negotiating agreements for various services.
• Relationship management
• Knowledge of supply base and sourcing business practices specific to financial services preferred

Preferred Education: Bachelor's Degree

License or Certification Type: Certified Regulatory Vendor Program Manager Preferred, Member of Contract and Commercial Management certification by the International Association for Contract and Commercial Management Preferred, Certified Professional in Supply Management Preferred

#LI-CO1

Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.