Senior Analyst Strategic Sourcing

Job title: Senior Analyst Strategic Sourcing

Company: Empower Annuity Insurance


Job description: Our vision for the future is based on the idea that transforming financial lives starts by giving our people the freedom to transform their own. We have a flexible work environment, and fluid career paths. We not only encourage but celebrate internal mobility. We also recognize the importance of purpose, well-being, and work-life balance. Within Empower and our communities, we work hard to create a welcoming and inclusive environment, and our associates dedicate thousands of hours to volunteering for causes that matter most to them.Chart your own path and grow your career while helping more customers achieve financial freedom. Empower Yourself.The Strategic Sourcing Specialist is an individual contributor who will support internal business stakeholders and Strategic Sourcing Managers in all aspects of 3rd party supplier business needs and relationships. This will include understanding the internal client needs, leading and/or facilitating competitive sourcing events as appropriate, contract processing and administration for assigned suppliers, supplier risk mitigation, and ongoing management of contracts and performance. In addition to tactical sourcing, this role will be very involved in managing reporting needs, contract database administration, and supplier coordination, in partnership with other company associates and Strategic Sourcing Managers. The ability to build and maintain rapport and strong relationships with internal stakeholders and colleagues will be a critical component to success in this role.What you will do:

• Build positive internal relationships by providing a high level of service, reflecting competence and professionalism.
• Develop and execute sourcing activities pertinent to business unit needs and priorities.
• Lead or support competitive sourcing process, from start to finish, including development of RFx (RFI, RFQ, RFI) packages and scorecards, assisting decision-makers with analysis of proposals, coordination of supplier demos, and overall leadership in every stage of the process.

• Perform analyses of pricing proposals, business and budget impact, and potential cost savings.
• Champion and execute supplier management best practices to maximize the value of vendor relationships. Support ongoing vendor due diligence, focusing on identification and mitigation of risk, e.g., operational, organizational, financial, legal, regulatory.
• Proactively manage assigned contract renewals and renegotiations. Support negotiation of contract terms and conditions for agreements, SOWs, amendments, NDA’s and other legal documents to achieve optimal terms and conditions for the company.
• Prepare and provide timely reporting of savings, active projects, new vendor risks and other data.
• Communicate effectively with key stakeholders and upper management, providing information and insights that are valuable to business decision-making.
• Understand, comply with, and help further refine company and department policies and procedures.
• Take personal responsibility for effectively managing one’s workload, meeting commitments and ensuring expected results are achieved. Work with company affiliates and divisions to leverage global supplier relationships when possible.
• Being able to work with minimal supervision, while also being a supportive team member to co-workers.

What you will bring:

• Bachelor’s degree in business management, accounting, finance, supply chain, or relevant field; or equivalent work experience.
• Minimum of 4 years of experience in the purchasing/procurement field, including sourcing, contracting, supplier management and risk management.

What will set you apart:

• Excellent organizational, analytical, time-management and problem- solving skills, being able to manage and prioritize multiple projects concurrently.
• Excellent written, interpersonal and verbal communication skills.
• High level of interpersonal skills to develop and maintain effective working relationships with senior management, key stakeholders, colleagues and vendors.
• Must be able to lead and/or support difficult conversations, communicate the value of certain procedures and policies, and build consensus, with a balance of assertiveness, tact and diplomacy.
• Proven track record of achieving savings goals.
• Able to work autonomously and with little direction.
• Ability to balance business demands, legal requirements, policy and processes to achieve positive outcomes.
• Proven contract administration skills and results.
• Familiarity with vendor management concepts, including strategies for effective performance management, contract compliance, and risk monitoring.
• Must be personally motivated to do a great job, be a great team member, and provide great value to the company.
• Ability to demonstrate initiative, mature judgment, customer service orientation, and ability to anticipate needs of the organization.
• Experience with automated Procurement solutions, e.g., SAP/Ariba, e- auctions.

This job description is not intended to be an exhaustive list of all duties, responsibilities and qualifications of the job. The employer has the right to revise this job description at any time. You will be evaluated in part based on your performance of the responsibilities and/or tasks listed in this job description. You may be required perform other duties that are not included on this job description. The job description is not a contract for employment, and either you or the employer may terminate employment at any time, for any reason.We are an equal opportunity employer with a commitment to diversity. All individuals, regardless of personal characteristics, are encouraged to apply. All qualified applicants will receive consideration for employment without regard to age, race, color, national origin, ancestry, sex, sexual orientation, gender, gender identity, gender expression, marital status, pregnancy, religion, physical or mental disability, military or veteran status, genetic information, or any other status protected by applicable state or local law.

Expected salary:

Location: Bangalore, Karnataka

Job date: Mon, 10 Mar 2025 00:52:18 GMT

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