Sourcing Manager (Contracts Manager/Professional) - Raleigh, NC

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Date :
Location :
Raleigh, NC US
Job ID :
Functional Area :
Procurement/Vendor Management
Employment Type :
Full-Time Exempt
Education :
Bachelors Degree
Experience :
10 or more years
Days and Hours :
Monday - Friday
Physical Address :
100 East Tryon Road, Raleigh, NC 27603
Department Name :
Procurement & Vendor Management
Position Description :
First Citizens Bank is seeking a talented contract negotiator, who can drive results and wants to make an impact. With an organization our size, the sourcing manager will have the visibility to drive results through leading contract negotiations both small and large/enterprise scale. They will possess proposal writing and negotiation skills to lead these initiatives. They will complete RFIs/ RFPs (RFx), coordinate risk identification and due diligence in accordance with regulatory guidance related to Third Party Risk Management, structure and negotiate contract terms, conditions, and pricing (for Software, Professional Services, Staffing, Consulting and other indirect spend products and services), assist with resolving vendor disputes and performance issues and ensure that all related documentation is promptly and accurately completed. The position is supported by an analyst who will assist with RFx, contract reviews, risk documentation reviews and contract entry. The work environment is collaborative, with varied work in support of several internal business units. This role requires close collaboration with various departments across the bank, at all levels, including executives.

Key Responsibilities:

• Work with Business Owners to understand upcoming sourcing events (RFI, RFP)
• Develop scope documentation and structure the RFx
• Perform appropriate market research to support contract and RFx proposal development.
• Conduct meetings with key stakeholders to identify issues and business requirements, facilitate pricing discussions, and obtain input on timelines and deliverables.
• Manage the RFx process ensuring key stakeholders are engaged
• Work within the project governance program to ensure RFx projects are approved
• Facilitate fair vendor selection, ensuring RFx goals are met

Risk Identification and Due Diligence
• Work with team members, business owners, internal stakeholders and vendors to identify, mitigate and manage risk related to the products and services provided
• Ensure that risks are communicated to the appropriate business executive for disposition

Structure and Negotiate Contracts
• Establish negotiation strategy and engage with business owners and vendor
• Ensure accuracy and appropriateness of contract language, compliance with all laws and regulations and company policies and procedures.
• Conduct meetings with key stakeholders to identify issues and business requirements, facilitate pricing discussions, and obtain input on timelines and deliverables.
• Structure and negotiate contract terms and pricing based on strategy discussions, key stakeholder input, approved contract standard terms & conditions, and organizational needs and expectations.
• Ensure that the contract is complete, accurate and all risks have been identified to the business owner executive prior to execution

Contract Management
• Ensure that contracts are properly entered into contract database.
• Work with the business owners on any amendments, contract terminations, and/ or contract renewals.
• Proactively address vendor performance issues.

• Maintain deadlines on deliverables and communicate on an ongoing basis with key stakeholders about contractual or proposal issues.

First Citizens Bank is one of the top financial services providers in the nation, recognized and awarded for our customer satisfaction, sustainable profitability, and overall stability and security. Our associates make First Citizens Bank a great place for our clients to do business. Those who grow, achieve and succeed with First Citizens Bank are those who share our core values of integrity, service excellence and stability.

*LI-KR1Basic Qualifications:
Bachelor degree with a minimum of 10 years experience, including at least 5 years of contract development and negotiation experience.

Additional Requirements:
• Proven expert negotiator (contract terms/conditions and pricing) for Software, Professional Services, Staffing, Consulting and other indirect spend products and services)
• Experience with regulatory requirements related to vendor management
• Demonstrated effectiveness in managing multiple priorities and meeting deadlines in a fast paced environment and flexibility with changing priorities on a daily basis.
• Demonstrated commitment to quality and continuous improvement.
• Strong interpersonal skills, including collaboration and willingness to make changes based on feedback.
• Strong written and verbal communication skills.
• Ability to network and interact with industry peers to understand regulatory and market trends in order to continuously improve FCB’s Key Vendor relationships.
• Proven ability to communicate effectively with Business and Technical Partners and Vendors with positive results.

Other Preferred Qualifications:
• ISM Certified Professional in Supply Management (CPSM)
• IACCM Commercial & Contract Management Professional (CCMP)
• Certified Regulatory Vendor Program Manager (CRVPM)
• Financial Services Industry experience

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