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Strategic Sourcing Agent - 3DI5F in Buffalo, NY at M&T Bank

Date Posted: 5/19/2018

Job Snapshot

Job Description

BASIC FUNCTION:
Leads sourcing initiatives generally between $1 k and $250 k and provides analytical and operational support to the sourcing team on larger initiatives. Assists with the Contracts Management process by reviewing vendor contracts and proposing edits to management as appropriate.
POSITION RESPONSIBILITIES:
Work with business and support units to source desired products and services generally between $1 k and $250 k. 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. Prepare side-by-side comparisons of vendor proposals for review with the business line and conduct multiple rounds of bids to determine the winning vendor. Lead negotiations in conjunction with the business line and Legal to ensure we obtain the most competitive pricing and favorable terms possible.
Provide support to the Strategic Sourcing team on large sourcing initiatives by getting vendors registered in the procurement system, helping with the analysis and evaluation of vendor proposals, and coordinating activities such as vendor demonstrations, reference calls and on-site visits.
Assist management with the Contracts Management process to ensure the Bank’s most important contracts have favorable terms and conditions and are in line with regulatory expectations. Review vendor contracts for preferred terms and conditions in accordance with Legal’s Contract Handbook and propose edits to be reviewed by management and the relevant business line.
Inform business and support units about the Third-Party Risk Management Program and involve the Third-Party Risk Management team to ensure selected vendors are properly risk tiered, vetted and approved before executing a contract.
Work with Procurement Data to run ad-hoc spend reports out of the procurement system and compile data into a usable format for the sourcing team and business lines.
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.
NATURE AND SCOPE:
Strategic Sourcing is a structured process for selecting the best 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 supports controlling expense and mitigating risk at the Bank by ensuring contracts are papered properly, deals are well documented and the Bank receives the best value for each dollar spent.
MINIMUM QUALIFICATIONS REQUIRED:
Bachelor's degree, or in lieu of a degree, a combined minimum of 4 years' higher education and/or work experience.
Proven verbal and written communication skills.
Proven problem-solving skills.
Proficiency with personal computers as well as pertinent spreadsheet and word processing software.
IDEAL QUALIFICATIONS PREFERRED:
Bachelor's Degree in Business Administration, Economics, Finance, Supply Chain Management, or related discipline.
Minimum of 1 year’s related work experience.
Experience reading vendor contracts and/or working in a legal setting.
General familiarity with Procurement and/or Supply Chain Management.
We encourage candidates with relevant military experience to apply.
About M&T
At M&T, we strive to be the best place our employees ever work, the best bank our customers ever do business with and the best investment our shareholders ever make. So when looking to advance your career, look to M&T. As a top 20 US bank holding company and one of the best performing regional banks in the country, we offer a wide range of performance based career development opportunities for talented professionals. And through our longstanding tradition of careful, conservative and consistent management and a strong commitment to the communities we serve, we continue to grow with a focus on the future.M&T Bank Corporation is an Equal Opportunity/Affirmative Action Employer.
M&T Bank Corporation does not sponsor individuals for the purpose of obtaining H-1 Visas.
M&T Bank Corporation has policies and procedures in place to promote a drug free workplace.