Strategic Sourcing Analyst Job Listing at City National Bank in Los Angeles, CA (Job ID 11319)

Description

STRATEGIC SOURCING ANALYST WHAT IS THE OPPORTUNITY? City National Bank is looking for a Strategic Sourcing Specialist to join their centralized Procurement department supporting all business lines and offices in North America. Support contracts administration and the data integrity of the third party contract files. Perform contract quality assurance reviews and analyze contracts. In addition. the Strategic Sourcing Specialist will negotiate and draft low to medium complexity third party IT supplier contracts. Work with other departments to minimize risk and obtain the favorable terms for the bank. Support the Procurement Operations and Strategic Sourcing teams when necessarily. Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions. Contribute to the achievement of defined category performance targets. Research and stay current on industry practices for product and services within the assigned category(s). Build and foster relationships and effectively partner across varied functions with internal stakeholders, external suppliers, and colleagues to influence change. Manage assigned projects and communicate with the stakeholders. Manage supplier involvement and relationship with the Company, as well as manage supplier audit activities. Prepare reports for management as requested. WHAT WILL YOU DO?

• Support contracts administration and the data integrity of the third party contract files.
• Perform contract quality assurance reviews and analyze contracts.
• Lead negotiations and contract drafting for low complexity commodity/service to be purchased by the bank. Work with Legal, compliance, finance, the business and other department to minimize risk and obtain the favorable terms for the bank.
• Analyze business plans; spend data, supplier and market data, to determine optimal sourcing strategies across businesses and assigned suppliers and/or commodities.
• Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions.
• Research and stay current on industry practices for product and services within the assigned category(s).
• Assist colleagues with interpreting contracts.
• Builds and fosters relationships and effectively partners across varied functions with internal stakeholders, external suppliers, and colleagues to influence change,
• Manage assigned projects and communicate with the stakeholders.
• Ensures compliance with Company policies, procedures, standards, use of Procurement systems in alignment with the stakeholder's objectives.
• Prepare reports for management as requested.
• Governance of vendor sourcing agreements
• Manage/mitigate vendor risk, business continuity and security
• Prepare and present strategic sourcing strategies for assigned suppliers and/or commodities to senior management.
• Develop / maintain market and technical expertise in assigned buy categories.
• Perform other duties as required.

WHAT DO YOU NEED TO SUCCEED? Required Qualifications*

• Minimum 4+ years of related experience in procurement, strategic sourcing, contract management and/or vendor management
• Minimum 2 years work experience in banking or financial services company
• Must have knowledge of contract management, negotiation principles and procurement practices.
• Must have experience purchasing different types of products and services.

Additional Qualifications

• Master's degree a plus
• Ideal candidate is continuously learning and stays current on industry practices for product and services within the assigned category(s).
• Must be knowledgeable of the Strategic Sourcing process, drafting of contracts, financial reviews and procurement practices
• Ability to read and analyze contracts.
• Ability to manage details without losing sight of the big picture.
• Must have the ability to develop strong analytical, critical thinking, negotiation and presentation skills.
• Some exposure and/or experience negotiating low risk contracts.
• Able to work at strategic level and if requested tactical (hands-on).
• Strong written and verbal communication skills
• Excellent time management skills and ability to adapt quickly to change
• Must be able to:
• Deliver: Creates and seizes opportunities even when faced with ambiguity; acts with integrity, is accountable and advocates in the best interest of the bank; is decisive and acts in a timely manner, acts on information and adapts with changes; seeks and accepts responsibility for failure; share responsibility for team success; seek best practices from across all industry sectors; advocate for solutions that will set the foundation for win-win solutions in future business opportunities.
• Critical Thinking: Thinks systematically and strategically to analyze issues, develop and create short and long term actionable plans. Considers details and sees the big picture. Sees around corners to preempt potential problems and leverage opportunities; connects multiple seemingly unrelated problems to see the big picture
• Innovation: Continually develops a better understanding of current and future challenges and opportunities; creates a recommendation and works with Procurement to successfully implements ideas. Systematically develops new approaches to standard or recurring goals and issues.
• Teamwork & Collaboration: Generates the best outcomes through collaboration (business, Legal, compliance, etc.). Values colleagues' individual differences and talents. Shares important or relevant information with the team to ensure solutions meets the needs of the bank.
• Attention to Detail: Thoroughness in completing a task/analysis/project with concern for all elements required at every level.
• Planning: Effectively manages time and resources.
• Embrace challenges.

WHAT'S IN IT FOR YOU? Compensation Starting base salary: $65,296 - $104,304 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
Benefits and Perks At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues including:

• Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
• Generous 401(k) company matching contribution
• Career Development through Tuition Reimbursement and other internal upskilling and training resources
• Valued Time Away benefits including vacation, sick and volunteer time
• Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
• Career Mobility support from a dedicated recruitment team
• Colleague Resource Groups to support networking and community engagement

Get a more detailed look at our Benefits and Perks.
ABOUT US Since day one we've always gone further than the competition to help our clients, colleagues and communities flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies. To learn more about City National and our dynamic company culture, visit us at About Us.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT City National Bank fosters an inclusive environment where all forms of diversity are valued and leveraged to make us a better company and employer. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender identity, national origin, disability, veteran status or other basis protected by law.

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

*Represents basic qualifications for the position. To be considered for this position, you must at least meet the required qualifications. careers.cnb.com accepts applications on an ongoing basis, until filled.

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