Senior Procurement Analyst

Date Active

Nov 7, 2022 8:07:09 PM

Requisition #

22-2079

Hours Per Week

40

Location

145 Bank Street-NH501

City

Waterbury

State

Connecticut

Job Description/ Requirements

If you’re looking for a meaningful career, you’ll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster’s values, these set us apart as a bank and as an employer. 

Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!

The Senior Procurement Analyst reports into a Strategic Sourcing Manager.  This person will support the overall needs and requirements of Corporate Services Procurement Strategic Sourcing vertical.  This role entails a range of responsibilities including sourcing Indirect Services, administering strategic sourcing projects, support of tactical activities facilitating the contract administration process and guiding LOB partners through the Strategic Sourcing process or related Procurement processes.

The role provides support to the lines of business in executing Strategic Sourcing projects and procedures to achieve departmental targets for cost savings, process efficiency, and risk mitigation. The role involves building financial cases for supplier comparison and combining comparative data in support of the negotiation process, as well as conducting supplier research, industry analysis, and best practices. The position requires a person with a proactive attitude providing excellent facilitation and customer service to line of business clients and the external community.

The primary objectives for the Procurement Analyst are to:

1. Guide internal clients through a strategic sourcing process for new suppliers and categories or renewals
2. Support daily activities associated with governance oversight of the sourcing process and/or contract origination and review standards.
3. Work with the lines of business to execute sourcing projects to the enterprise while ensuring Procurement procedures are met.
4. Provide governance to the sourcing process and coordinate with the appropriate internal departments as required to facilitate project completion
5. Apply the sourcing process to achieve cost containment, savings and/or avoidance

Responsibilities:

Strategic Sourcing:

• Execute the sourcing process of Indirect Services in order to achieve financial goals and targets in support of strategic objectives
• Provide support of tactical activities including; contract sign-off sheets, contract approvals, contract searches, contract storage, PO processing and invoice payment.
• Develop strong relationships with key stakeholders across a variety of commodities, including but not limited to Bank Equipment, Professional Services, Marketing, IT, HR, and Real Estate
• Administer the sourcing process in accordance with departmental and firm standards, policies, and procedures
• Provide framework for the collection and vendor scoring criteria, facilitating the vendor selection process to provide support to both clients and other sourcing team members
• Successfully manage a variety of simultaneous projects with varying levels of senior management involvement and impacted stakeholders utilizing experience and a deep-rooted knowledge of project management processes and practices
• Mine and identify additional opportunities for sourcing savings (including demand management) and improvement through active stakeholder engagement, research, and data analysis
• Under the guidance of a Strategic Sourcing Manager review and negotiate contracts, identifying risks and opportunities, communicating them effectively to internal stakeholders and suppliers to achieve intended results, serving as a subject matter expert through the completion of all assigned sourcing projects
• Actively maintain and provide individual and project-based reporting in accordance with department standards

General:

• Work with leadership in the Procurement vertical to identify areas for ongoing firm and departmental improvement
• Collaborate with various areas of the bank such as Legal and Third Party Risk Management to ensure seamless service is delivered to the internal client base and the Webster's supplier community
• Ensure sourcing projects are conducted consistently to ensure proper coordination and collaboration with Third Party Risk Management standards and procedures
• Facilitate successful transition of relevant sourcing categories and suppliers through the eProcurement solution
• Utilize the contract management system to obtain and distribute third party agreements

Leadership

• Developing leadership abilities
• Embrace change on continuous improvement initiatives and willingness to lead a continuous improvement idea
• Demonstrated ability to be an enthusiastic and flexible team player

Education, Skills, Experience:

• Undergraduate degree in Procurement, Supply Chain Management, Finance and/or Business required.
• MBA or graduate degree in related field preferred
• 0-5 years’ of experience related experience in Procurement, Strategic Sourcing of Indirect Services, including, but not limited to, IT software and hardware, professional services, telecom, consulting and temp labor.
• Demonstrated ability negotiate less complex contract negotiations
• 7-Step Strategic Sourcing process (or equivalent)

The estimated salary range for this position is $80,000 to $95,000. Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position is eligible for incentive compensation.

 

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Equal Opportunities