Strategic Sourcing Specialist

Stripe is a financial infrastructure platform for businesses. Millions of companies—from the world's largest enterprises to the most ambitious startups—use Stripe to accept payments, grow their revenue, and accelerate new business opportunities. Our mission is to increase the GDP of the internet, and we have a staggering amount of work ahead. That means you have an unprecedented opportunity to put the global economy within everyone's reach while doing the most important work of your career.

The Finance Operations (FinOps) team provides and enhances core business services that are the backbone for Stripe. FinOps uses data and operational excellence to deliver technology solutions, procurement, billing and payroll services, strategic sourcing, and supplier relationship management to Stripe.

Global Procurement, which is part of Stripe's Finance Operations (FinOps), is responsible for the entire buying journey, from sourcing new suppliers or renewing engagements with existing ones to facilitating purchase order approvals, paying valid supplier invoices, and managing Stripe's travel and expense program. The team also reviews and advises on contract structures and terms, conducts risk assessments to ensure suppliers meet Stripe's standards, and onboards suppliers for secure payment processing.

We're looking for a Sourcing Specialist to join our growing team. In this role you will play a crucial role in supporting the global strategic sourcing events and category management while collaborating with cross functional teams. You will be responsible for conducting market research, gathering supplier information, developing sourcing strategies, and facilitating sourcing events to optimize the company's spend and drive value. This role requires strong analytical skills, attention to detail, and the ability to work collaboratively with cross-functional teams. 

The responsibilities for this role include but are not limited to the following:

RFx event support:

• Draft RFx documents for specific projects in collaboration with global category managers
• Prepare RFx communications, scoring templates, summaries, and other supporting documents
• Prepare and retain RFx project documentation for historical record
• Execute NDAs for RFx events
• Lead regional RFx projects when needed

Benchmarks / Rates:

• Conduct initial category-specific market research
• Analyze rate submissions from Suppliers with industry benchmarks
• Develop supplier profiles with data sourced from resources like Tropic, Pitchbook, other internal tools, and publicly available data
• Lead regional rate card negotiations when needed

Contracting:

• Contract analysis to inform category strategies and/or individual transaction strategies
• Data cleanup on renewal dates, termination notice periods, and other relevant sourcing metadata in the Contract database
• Setup and execute proactive tracking of SLA violations and ensure appropriate processes are initiated to claim any possible service credits/refunds

General Support:

• Monitor procurement process and manage escalations for sourced deal transactions
• Work closely with internal teams to drive enterprise-level procurement solutions and increase supplier management effectiveness
• Participate in establishing short-term and long-range planning and budget development of the company to support strategic business goals
• Help to develop and execute a roadmap to build and scale an impactful Strategic Sourcing & Category Management function that Stripe recognizes and values

We're looking for someone who meets the minimum requirements to be considered for the role. If you meet these requirements, you are encouraged to apply. The preferred qualifications are a bonus, not a requirement.

Minimum requirements:

• A minimum of 5 to 8 years of experience in indirect sourcing, procurement, category management, or a related field
• Strong understanding of procurement principles and supply chain management
• Strong experience in negotiations and achieving significant cost savings and supplier value without compromising on quality or service
• Experience in supplier contracting with an understanding of standard commercial terms and conditions to mitigate risks and create clear service level agreements
• Excellent communication and interpersonal skills, with the ability to convey complex information in an understandable way
• Strong analytical and problem-solving skills with a keen eye for detail
• Strong organizational skills and the ability to manage multiple priorities in a dynamic, fast-paced environment
• A team player with a proactive attitude and the ability to work independently when required
• Demonstrated experience successfully partnering with cross-functional stakeholders

You will also likely have (not required):

• Familiarity with the fintech industry and its supply chain and procurement challenges
• Educational background in Business, Economics, Supply Chain, or related fields
• Procurement and supply chain certification like CPSM, CSCP, CPPM, CIPS, etc.
• Understanding or experience with e-procurement tools and systems (e.g., Zip, Agiloft CLM, etc.)
• Experience with ERP systems (e.g., Oracle) is preferred
• The ability to be flexible and comfortable with changing requirements
• A builder's mindset and a willingness to question assumptions and conventional wisdom
• A passion for creating new systems and solving problems via infrastructure and automation