Works with business and support units to understand needs, formulate strategies, and source suitable suppliers 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 suppliers. Negotiates contracts generally between $500K and $5M in value.
Work Model & Office Locations:
This role follows a hybrid work model, requiring onsite presence four days per week at one of M&T Bank’s regional offices.
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 supplier demonstrations, reference calls and on-site visits to short-list suppliers. 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 belonging 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.
Strategic Sourcing is a structured process that maximizes competition and leverage to select the most suitable suppliers at the best price. 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 between $500K - $5M 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 time management skills
- Detail-oriented with strong organizational and analytical skills
- Strong verbal and written communication skills
- Experience interacting with all levels of management
- Strong presentation skillsExperience writing Requests for Proposal (RFPs) and negotiating contracts
- Experience with Contract Lifecycle Management and eSignature software tools
- Bachelor’s degree and a minimum of 4 years proven financial and/or business experience
Skills Required
- Bachelor's degree
- Minimum of 2 years proven financial and/or business experience
- Experience writing Requests for Proposal (RFPs)
- Experience negotiating contracts
- Proficiency with personal computers and procurement software
- Strong time management skills
M&T Bank Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about M&T Bank and has not been reviewed or approved by M&T Bank.
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Retirement Support — Retirement benefits are positioned as a strong pillar, including a 401(k) match and the possibility of an additional employer contribution, plus access to an employee stock purchase plan.
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Leave & Time Off Breadth — Time-off offerings are framed as competitive, with a flexible PTO approach and paid volunteer time called out as a meaningful add-on to standard leave.
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Wellbeing & Lifestyle Benefits — Wellbeing support appears comparatively robust, highlighted by mental-health therapy/coaching sessions and broader wellness programming alongside community-oriented perks.
M&T Bank Insights
What We Do
M&T Bank is a multi-state community-focused bank serving New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and Washington, D.C. Founded in 1856, the company provides banking, investment, insurance and mortgage financial services to more than 3.6 million consumer, business and government clients.
