Avp - Procurement & Sourcing (Buying Team)

Global Third Party Management (GTPM) is a Business Unit within Corporate Finance that is responsible for providing enterprise wide procurement services, including governance and monitoring programs for all regions and countries where State Street Corporation conducts business. This role will support the Procurement team that is focused on managing and overseeing the low to medium complexity purchase transactions, along with related program governance & oversight and the broader Procurement, Accounts Payable (AP) and Third Party Risk Management (TPRM) teams. This role will be responsible for providing operational support, oversight, reporting, data analytics and governance to support Procurement management to ensure all assigned business support actions are completed timely.

RESPONSIBILITIES:

- Execute sourcing strategies that align with Organizational goals and deliver results throughout the Procure to Pay Lifecycle
- Facilitate negotiations and achieve optimal price/performance and price/quality ratio to deliver maximum value and savings
- Develop TCO models and decipher pricing to deliver comprehensive financial analyses
- Performs all duties in accordance with Organizational policies / procedures and prescribed regulatory compliance guidelines.
- Ensure timely execution of Order Forms, Change Orders, Creation of Purchase Requisitions and release of Purchase Order
- Ability to partner with internal stakeholders and suppliers, develop sourcing /negotiations strategies aligning them with future corporate strategy.
- Knowledge of market trend and new/emerging technologies including market dynamics, trends and key save opportunities across supply, demand, and process to help execute sourcing strategy
- Collaborate with internal stakeholders including Subject Matter Experts to obtain beneficial terms, mitigate business risk and set priorities for sourcing strategy execution
- Proactively manage vendors through the contract lifecycle by monitoring their fulfillment of obligations and by performing benchmarking through scorecards, performance metrics and other tools.
- Provide financial reporting and analysis on key Procurement metrics as per requirement
- Continually identify and drive improvement opportunities
- Manage a team of 5-8 people, guide and coach the team members, conduct regular 1:1 & team meetings as required.
- Assign tickets, monitor its progress and ensure its timely closure

EXPERIENCE & SKILLS:

- Graduate with minimum of 12+ years of experience in Purchasing and/or vendor management with a successful track record of completing RFx events, negotiations, cost saving initiatives and leading a team.
- Expertise in sourcing & contracting of IT (Hardware/Software/Telecom) products and services, Outsourcing, Professional Services, IT Globalization/Staffing, Outsourced Financial Services, Travel, Contingent Labor etc
- Excellent Contract interpretation Skills, understanding of product and contract lifecycles
- Excellent strategic thinking and problem-solving skills
- Proven self-starter who can work independently, effectively manage priorities and has a strong track record of delivering outstanding results.
- Personal resilience to work within tight deadlines in an extremely fast-paced ambiguous environment
- Excellent communication(written/verbal) and interpersonal skills, demonstrated ability to develop highly functioning business relationships/stakeholder management
- Must be organized, detail oriented, responsive and be able to adapt quickly to a rapidly changing environment
- Excellent team management skills

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