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Make Next Happen Now. For more than 30 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers across the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators.
The Sourcing Manager is responsible for strategic sourcing of complex, large scale projects that will include gathering of requirements, compilation of request for proposal packages, scoring criteria and weighting for scorecards, planning and setting meetings with internal and external stakeholders, guide decision making process and negotiate commercial terms of the deal.
They will need to be customer service/relationship focused, and act as an embedded function within the business stakeholder groups. They will act as an advisor to internal business stakeholders throughout execution of project work and attendance to standard meeting cadences. They will operate independently, as well as collaborate with other groups within SVB in order to successfully support the business.
Prepare and complete large scale, complex competitive sourcing projects (RFx) and provide guidance to meet internal stakeholder needs. Responsible for all aspects for sourcing and contracting, including but not limited to the review, writing, and negotiations of an RFx and resulting Contractual Agreement that may include:
The scope of work
Provide guidance to senior level management by providing insights into market conditions and consolidating and summarizing results of competitive events for review and selection by the business
Terms and conditions
Contract compliance monitoring
Participation in vendor risk process ensuring contractual agreements meet SVB's needs
Act as a Relationship Manager (main Procurement & Sourcing contact) for assigned business unit(s). Build and maintain relationships with internal stakeholders and business partners in order to foster early involvement in projects and overall, better value based business decisions for the bank. Act as a trusted advisor by informing the business of market trends, spend reporting related to their business strategy and direction. Participates in business stakeholder weekly meetings as a means to hear of upcoming projects Sourcing could positively impact.
Create and execute against annual strategic plan in order to allocate resources for upcoming projects, show spend analysis, and meet cost savings targets.
Participate in team meetings, training and special projects as assigned by management.
Provide analysis of benchmark data and make recommendations to business stakeholders in order to drive targeted negotiations and negotiate key commercial terms.
Decisions are made on a daily basis by leveraging knowledge of various markets, price trends, and overall experience level in order to make recommendations to our business partners:
(1) Routinely make decisions on business requirements framework for preparation of competitive events, selection of market intelligence, and, define best price targets and/or models to use. Decisions include how to best structure contracts, software and professional service delivery models, commercial term standard to follow.
(2) Decides best negotiation strategy and makes recommendations to the business. Decisions include prioritizing terms and acceptable positions for each area as part of the negotiation trade-offs/concessions.
(3) Decides which third parties to include on a bid list for a competitive event. This decision will drive overall project timeline and will have to weigh the choices available in the marketplace.
Act as a trusted advisor to internal business stakeholders, (E.g. make recommendations on award of SVB business to third party suppliers, including evaluation criteria to do so, provide negotiation strategy framework and successful execution criteria) and will contribute to annual cost savings target ($12M for 2019) and provide value for money as part of each project. This is an important function because having the ability to see across the bank and across the market category for the product or service needed brings a refined perspective to the table, allowing the business stakeholders to look not only which products/services will suit their group well, but SVB overall.
Bachelor's Degree or 5 years sourcing or supply chain experience
Strong understanding of Technology and/or Professional Services categories
Possess knowledge related to industry category trends
Demonstrated ability to negotiate commercial points of large/complex projects
Excellent written and verbal communication skills and a customer service mindset are required to be successful in this role. Corporate level experience and ability to complete projects within critical timelines is also imperative. Effectively able to manage competing priorities.