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Strategic Sourcing Consultant for Vendor Management role

4 months ago

hyderabad, India WELLS FARGO BANK Full time
About the Role:
We are seeking a highly motivated and results-oriented Vendor Manager to join our growing team. In this role, you will play a pivotal role in building and maintaining strong relationships with our key vendors, ensuring the efficient delivery of high-quality goods and services. You will be responsible for the entire vendor lifecycle, from sourcing and selection to performance management and continuous improvement.
Responsibilities:
  • Strategic Sourcing and Vendor Selection:
    • Conduct market research to identify and evaluate potential vendors.
    • Develop and implement vendor selection criteria aligned with company needs.
    • Lead the RFP creation and evaluation process.
    • Negotiate contracts to secure the best terms and pricing.
  • Vendor Management and Relationship Building:
    • Develop and maintain strong, collaborative relationships with vendors.
    • Onboard new vendors and ensure they understand company expectations.
    • Proactively manage vendor performance through regular communication and meetings.
    • Identify and address any vendor performance issues promptly and effectively.
  • Performance Management and Continuous Improvement:
    • Develop and implement key performance indicators (KPIs) to track vendor performance.
    • Analyze vendor performance data and identify areas for improvement.
    • Collaborate with vendors to develop and implement improvement plans.
    • Track and report on vendor performance to stakeholders.
  • Contract Management:
    • Manage the entire contract lifecycle, from negotiation and execution to amendment and renewal.
    • Ensure contract compliance by both the company and the vendor.
    • Manage contract risks and mitigation strategies.
  • Communication and Collaboration:
    • Should possess strong written, oral, and interpersonal communication skills.
    • Communicate effectively with vendors, internal stakeholders, and senior management.
    • Prepare clear and concise reports and presentations.
    • Collaborate cross-functionally to achieve organizational goals.
Qualifications:
  • Bachelor's degree in Business Administration, Supply Chain Management, or a related field (preferred).
  • Minimum 9+ years of experience in vendor management, ideally within a large multi-national company (financial institutions preferred).
  • Proven experience in all aspects of the vendor lifecycle, from sourcing to performance management.
  • Strong analytical skills with the ability to create data-driven reports and presentations.
  • Excellent negotiation, communication, and interpersonal skills.
  • Ability to work independently and manage multiple priorities simultaneously.
  • Experience working with a diverse customer base in the USA (a plus).
Work Timings:
The timings for this role will be 01:30pm - 10:30pm
Posting End Date:
*Job posting may come down early due to volume of applicants.
We Value Diversity
At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.
Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.
Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.
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To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo .
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