Director, Strategic Sourcing at Travelers (Hartford, CT)

| Hartford, CT
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Who Are We?

Taking care of our customers, our communities and each other. That's the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 160 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.

Compensation Overview

The annual base salary range provided for this position is a nationwide market range and represents a broad range of salaries for this role across the country. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment. As part of our comprehensive compensation and benefits program, employees are also eligible for performance-based cash incentive awards.

Salary Range

$112,100.00 - $184,900.00

Target Openings

1

What Is the Opportunity?

Under general direction, the Dir, Strategic Sourcing assists in the formulation of the Corporate Procurement processes, methods, systems, tools and metrics supporting Corporate Service areas, including Human Resources, Administrative Services, Treasury, Corporate Communications, Investments, International and Compliance. This position assists the AVP, Strategic Sourcing in managing the enforcement of all corporate contracts to drive contract utilization, guidelines and compliance that reduces total cost of ownership (TCO), increases productivity and drives operational excellence. The position also directs multiple procurement analysts working on strategic sourcing, negotiation, contract drafting and execution, support of Supplier Management, program management, category management and spend and market analysis. This job is a manager.

What Will You Do?
  • Manages, plans, budgets, directs and executes departmental objectives on strategic sourcing initiatives, including international, ensuring efficient and effective accomplishment of Corporate Procurement goals.
  • Direct staff in all areas, which includes selection, training, establishment of accountabilities, objectives, development, evaluation, salary administration and termination.
  • Develop, implement, and manage Corporate Procurement policies, processes and guidelines to establish best in class processes.
  • Maintain standard templates for contracts, requests for proposal, supplier performance metrics and all other recurring use procurement documents that impact the organization's operating costs and productivity targets.
  • Assist with the ongoing and future development of Supplier Diversity initiatives through education and support of the team.
  • Establish and maintain strategic relationships with business customers and senior management, as well as with various internal and external partners such as Legal, Finance, IT Security, Compliance, Audit, IT, Supplier Management, and Supplier Diversity.
  • Work on end-to-end negotiation deals and strategic sourcing events that have high complexity and dollar value.
  • Directs the team to evaluate and negotiate contracts that represent business requirements with a focus to drive optimal Total Cost of Ownership (TCO).
  • Assist to establish practices that negotiate contracts for adherence to corporate contract standards, escalating changes that impact the risk profile for discussion and approval as appropriate.
  • Use negotiation and influencing skills as needed to enlist support from across many levels of the organization.
  • Make recommendations on sourcing strategies and results to senior management.
  • Assist to establish practices to draft and manage contracts through collaboration with Legal (e.g., master agreement, statement of work, amendment, pricing schedule, service level agreement, etc.) through the established Corporate Procurement processes.
  • Communicate Corporate Procurement processes, policies and periodic updates on the progress of related sourcing projects to the business and stakeholders, including senior management.
  • Communicate and support Supplier Management standards and due diligence requirements when consulting with business customers and partner with the Supplier Management team to resolve issues or questions.
  • Assess, communicate and monitor priority on contract execution based on business impact in partnership with the business, Legal, stakeholders and senior management, as appropriate.
  • Partner with multiple business lines for enterprise purchases to ensure optimal pricing, flexibility, and terms and conditions.
  • Maintain the team's awareness of changing market conditions, as well as strategic business directions and senior management directives that create opportunities for cost savings.
  • Inspire the team to collaborate with other Strategic Sourcing team members on sourcing strategy, best practices, and knowledge transfer.
  • Perform other duties as assigned.
  • Perform other duties as assigned.

What Will Our Ideal Candidate Have?
  • Experience in negotiating software, hardware, software-as-a-service and consulting services contracts is preferred.
  • Bachelors' or Master's degree preferred.
  • Intermediate to advanced proficiency of eSourcing and Ariba procurement applications preferred.
  • Intermediate to advanced proficiency of Excel, PowerPoint and Word preferred.
  • Intermediate to advanced proficiency of working with a contract management tool/application to ensure all documents are organized and data is entered accurately preferred.

What is a Must Have?
  • Minimum 7 years of strategic sourcing, negotiation, finance or supplier management experience required.
  • Must have strong management skills, including communicating, negotiating, directing, planning, organizing, writing skills and problem solving.
  • Requires thorough knowledge and understanding of strategic sourcing concepts to include strategic sourcing, supply management, inventory management, cost-price analysis, minority supplier programs, bid solicitation, negotiating techniques and market analysis/trends.
  • Must have thorough understanding of all functions, programs, and commodities managed, as well as sound financial principles and expense accounting.
  • Project planning, negotiating, organizing, documenting and problem solving skills required.
  • Requires ability to take quick, decisive action in unique and complex situations to meet corporate business objectives and business requirements.
  • Knowledge of business and legal implications of proposed procurement solutions required.
  • Must have ability to perform equally well in a team environment or individually.

What Is in It for You?

  • Health Insurance: Employees and their eligible family members - including spouses, domestic partners, and children - are eligible for coverage from the first day of employment.
  • Retirement: Travelers matches your 401(k) contributions dollar-for-dollar up to your first 5% of eligible pay, subject to an annual maximum. If you have student loan debt, you can enroll in the Paying it Forward Savings Program. When you make a payment toward your student loan, Travelers will make an annual contribution into your 401(k) account. You are also eligible for a Pension Plan that is 100% funded by Travelers.
  • Paid Time Off: Start your career at Travelers with a minimum of 20 days Paid Time Off annually, plus nine paid company Holidays.
  • Wellness Program: The Travelers wellness program is comprised of tools and resources that empower you to achieve your wellness goals. In addition, our Life Balance program provides access to professional counseling services, life coaching and other resources to support your daily life needs. Through Life Balance, you're eligible for five free counseling sessions with a licensed therapist.
  • Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.
  • Travelers offers a hybrid work location model that is designed to support flexibility .

Employment Practices

Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences.

If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you.

Travelers reserves the right to fill this position at a level above or below the level included in this posting.

To learn more about our comprehensive benefit programs please visit http://careers.travelers.com/life-at-travelers/benefits/ .

Careers at Travelers

When you work at Travelers, life's most important moments become your life's work. That means helping families feel secure, businesses to prosper, knowing that you've made a difference, and feeling like you belong to something bigger. It also means being part of a team comprised of 30,000 + talented and passionate people that are evolving to meet changing needs - from customer service to data science and beyond. If that's more than you imagined in an insurance career, it's time to join us at Travelers.
More Information on Travelers
Travelers operates in the Insurance industry. The company is located in New York, NY and Hartford, CT. Travelers was founded in 2022. It has 35118 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 196 open jobs at Travelers, click here.
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