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Strategic Sourcing Analyst II - 3DFFO in Buffalo, NY at M&T Bank

Date Posted: 2/24/2018

Job Snapshot

Job Description

Works with business and support units to help them source the most suitable vendors at the best price to meet their requirements. Carries out the Strategic Sourcing process which is designed to maximize competition and leverage when selecting and contracting with chosen vendors. Negotiates contracts generally between $1 m and $10 m in value.

For major sourcing initiatives, work with management to identify an Executive Sponsor and a cross-functional project team to ensure there is 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 project 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 the 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 vendor demonstrations, reference calls and on-site visits to short-list vendors.
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 the recommendation 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 the 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 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.

Strategic Sourcing is a structured process for selecting the most suitable 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 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 at least $1 m - $10 m 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.

Bachelor’s degree and a minimum of 3 years’ proven financial and/or business experience, or in lieu of a degree, a combined minimum of 7 years’ higher education and/or work experience, including a minimum of 3 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 verbal and written communication skills.
Ability to interact with all levels of management.
Strong presentation skills.
Experience writing Requests for Proposal (RFPs) and negotiating contracts.

MBA (Master’s degree in Business Administration).
General familiarity with the Bank’s Accounts Payable process and general ledger.
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.