Principal Sourcing Specialist (Procurement), Marketing

Discover. A brighter future.
With us, you'll do meaningful work from Day 1. Our collaborative culture is built on three core behaviors: We Play to Win, We Get Better Every Day & We Succeed Together. And we mean it - we want you to grow and make a difference at one of the world's leading digital banking and payments companies. We value what makes you unique so that you have an opportunity to shine.
Come build your future, while being the reason millions of people find a brighter financial future with Discover.
Job Description:
Discover will not sponsor or transfer employment work visas for this position. Applicants must be currently authorized to work in the United States on a full-time basis.
Responsible for executing sourcing and category management activities for designated category, as directed by Category Management leadership. Activities include partnering with internal stakeholders to develop requirements, issue and score RFx events, develop appropriate leverage, negotiate pricing and commercial terms, and assist in contracting. This individual contributor role will also bring outside market expertise to assist internal stakeholders and management of optimal supplier pricing and service structures as well as insights to changes in market conditions. Additional responsibilities include calculating and reporting realized savings, and executing category management and sourcing best practices. Establishing and prioritizing project plans for sourcing projects will be critical to achieve expected objectives and results. Actively manages and escalates risk and customer-impacting issues within the day-to-day role to management.
What You'll Do

• Execute sourcing and category management activities for designated category, as directed by Category Management leadership
• Partner with internal stakeholders to develop requirements, issue and score RFx events, develop appropriate leverage, negotiate pricing and commercial terms, and assist in contracting.
• Bring outside market expertise to assist internal stakeholders and management of optimal supplier pricing and service structures as well as insights to changes in market conditions.
• Calculate and report realized savings, and execute category management and sourcing best practices. Establishing and prioritize project plans for sourcing projects will be critical to achieve expected objectives and results.

How You'll Do It

• Utilize best in class strategic sourcing process and data driven analytics to negotiate optimal commercial T&Cs that meet or exceed the needs of Stakeholders. Develop and execute RFx, analyze results, establish leverage strategies, and assess award scenarios. Negotiate and approve all commercial terms related to third party contracts to optimize total cost of ownership for Company.
• Based on the analysis of Company spend, client activity and the marketplace, develop and recommend the most appropriate sourcing strategy for each project assigned.
• Provide expertise within the organization around the supply markets that DFS buys in for designated category, and understand the effects that economic, technological, and governmental changes that impact those markets; share expertise with junior sourcing staff and leadership. Continuously review industry and peer best practices, educate the organization on them, and develop plans to implement those that provide a competitive advantage for DFS.
• Utilize sound project management techniques to ensure projects meet objectives and timelines, including development of comprehensive project and communication plans. Maintain team accountability to project deliverables and execute all necessary communications to ensure accurate and timely flow of information to internal customers, stakeholders, and suppliers.
• Build positive working relationships both internally and externally to provide DFS with goods and services at the lowest Total Cost of Ownership at the Highest Quality.
• Ensure actions are in compliance with department and company policies and procedures, and applicable local, state, and federal laws.

Qualifications You'll Need
The Basics:

• Bachelor's degree in Business Administration and Management or Arts
• 6+ years of experience in sourcing or related field
• In lieu of a degree, 6+ years of experience in sourcing or related field
• Lean, Six Sigma

Bonus Points If You Have

• Master's degree in Business Administration and Management or Arts

#LI-EB1
Application Deadline:
The application window for this position is anticipated to close on Sep-10-2024. We encourage you to apply as soon as possible. The posting may be available past this date, but it is not guaranteed.
Compensation:
The base pay for this position generally ranges between $88,500.00 to $149,300.00. Additional incentives may be provided as part of a market competitive total compensation package. Factors, such as but not limited to, geographical location, relevant experience, education, and skill level may impact the pay for this position.
Benefits:
We also offer a range of benefits and programs based on eligibility. These benefits include:

• Paid Parental Leave
• Paid Time Off
• 401(k) Plan
• Medical, Dental, Vision, & Health Savings Account
• STD, Life, LTD and AD&D
• Recognition Program
• Education Assistance
• Commuter Benefits
• Family Support Programs
• Employee Stock Purchase Plan

Learn more at mydiscoverbenefits.com .
What are you waiting for? Apply today!
All Discover employees place our customers at the very center of our work. To deliver on our promises to our customers, each of us contribute every day to a culture that values compliance and risk management.
Discover is committed to a diverse and inclusive workplace. Discover is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, protected veteran status, or other legally protected status. (Know Your Rights & Pay Transparency Nondiscrimination Provision)
Discover complies with federal, state, and local laws applicable to qualified individuals with disabilities and is committed to providing reasonable accommodations. If you require a reasonable accommodation to search for a position, to complete an application, and/or to participate in an interview, please email [email protected] . Any information you provide regarding your accommodation needs will be kept confidential and will only be used to determine and provide necessary accommodation.