Senior Strategic Sourcing Analyst (Buffalo, NY)

| Buffalo, NY
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Overview:

Works with business and support units to help source most suitable vendors at the best price to meet requirements. Carries out the Strategic Sourcing process designed to maximize competition and leverage when selecting and contracting with chosen vendors. Negotiates contracts generally between $1 m and $10 m in value.

Primary Responsibilities:
  • For major sourcing initiatives, work with management to identify an Executive Sponsor and a cross-functional project team to ensure appropriate buy-in, support and participation throughout the project.
  • Guide the Project Team through the Strategic Sourcing process and keep the Executive Sponsor and relevant senior managers informed of progress, setbacks and obstacles. Lead a kick-off meeting with the Project Team to clarify the objectives, strategy and proposed timeline of the sourcing initiative. Develop and execute Requests for Proposals (RFPs), Requests for Quotes (RFQs) and/or Requests for Information (RFIs) based on identified business needs, market conditions and corporate standards. Facilitate analysis, evaluation and scoring of vendor proposals against criteria established and agreed on by the Team. Conduct multiple rounds of bids and coordinate activities such as vendor demonstrations, reference calls and on-site visits to short-list vendors. Lead contract negotiations in conjunction with the Project Team and Legal to ensure we obtain the most competitive pricing and favorable terms possible.
  • Prepare sufficient documentation to inform Executive Sponsor and senior managers of recommendations and results of the sourcing initiative, including any achieved savings, customer implications and impacts to business operations.
  • Guide business and support units through the Third-Party Risk Management Program in conjunction with the Third-Party Risk Management team to ensure selected vendors are properly risk tiered, vetted and approved before executing a contract.
  • Research and analyze procurement trend data at the Bank and recommend savings opportunities to associated business lines and support functions.
  • Understand and adhere to the Company's risk and regulatory standards, policies and controls in accordance with the Company's Risk Appetite. Identify risk-related issues needing escalation to management.
  • Promote an environment that supports diversity and reflects the M&T Bank brand.
  • Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
  • Complete other related duties as assigned.


Scope of Responsibilities:

Strategic Sourcing is a structured process for selecting the most suitable vendors at the best price. Strategic Sourcing includes a six step process that ensures we are maximizing competition and leverage when choosing vendors. As such, this position is critical to expense control at the Bank. The position is responsible for one or more categories of spending that occur at the Bank and has overall responsibility for controlling expenses in the assigned category across the entire organization, inclusive of all subsidiaries, business units and cost centers. Typically, categories assigned to the position have at least $1 m - $10 m in annual spending. Consequently, a small percentage impact in these categories can have substantial impact on bottom line profitability of the Bank, stock price and shareholder return.

Education and Experience Required:

Bachelor's degree and a minimum of 2 years' proven financial and/or business experience, or in lieu of a degree, a combined minimum of 6 years' higher education and/or work experience, including a minimum of 2 years' proven financial and/or business experience

Proficiency with personal computers as well as pertinent mainframe systems and software packages, including those specific to procurement, as well as spreadsheet, presentation and database software

Strong verbal and written communication skills

Experience interacting with all levels of management

Strong presentation skills

Experience writing Requests for Proposal (RFPs) and negotiating contracts

Education and Experience Preferred:

MBA (Master's degree in Business Administration)

Minimum of 3 years' proven financial and/or business experience

General familiarity with the Bank's Accounts Payable process and general ledger

Location
Buffalo, New York, United States of America
More Information on M&T Bank
M&T Bank operates in the Fintech industry. The company is located in Buffalo, NY, Baltimore, MD and Wilmington, DE. M&T Bank was founded in 2022. It has 21590 total employees. It offers perks and benefits such as Flexible Spending Account (FSA), Disability Insurance, Dental Benefits, Vision Benefits, Health Insurance Benefits and Life Insurance. To see all 159 open jobs at M&T Bank, click here.
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