Envestnet is seeking a Strategic Sourcing and Procurement Director – YOD to join our Finance department.
Envestnet is transforming the way financial advice is delivered through its connected technology, advanced insights, and asset management solutions – backed by industry-leading service and support. Since 1999, Envestnet has served the wealth management industry and today supports trillions in platform assets, serving over a hundred thousand financial advisors. The vast majority of the nation’s leading banks, the largest wealth management and brokerage firms, and over 500 of the largest RIAs rely on Envestnet’s wealth management platform and solutions to drive business growth, boost productivity, and deliver better financial outcomes for their clients.
Envestnet’s Strategy:
- Deliver the industry-leading wealth management platform, powered by advanced data and insights
- Leverage our scale and efficiencies to serve our clients’ needs comprehensively
- Enable financial advisors to deliver more holistic advice – reflecting a more complete view of their clients’ financial lives, and in a more connected environment
For more information, please visit www.envestnet.com.
Job Summary:
The Strategic Sourcing and Procurement Director is responsible for leading category management, strategic sourcing, contract negotiations and supplier relationship management for IT and non-IT suppliers. Strong category-specific knowledge and experience is essential, specifically in IT categories including cloud services, software including SaaS, onshore and offshore services, third party data, infrastructure and architecture. This is a highly cross-functional position, working with engineers, executives, senior leadership, financial teams and more, which requires excellent relationship development and communication skills. The ideal candidate is also an analytic and thorough individual who can identify and deliver savings opportunities through complex projects and negotiations.
Job Responsibilities:
- Serve as a spend category expert for IT-specific and non-IT spend categories. Maintain in depth knowledge of external trends, future developments, key suppliers, regulatory requirements and general market practices and costs in assigned categories through ongoing research and continuing professional education.
- For assigned categories, develop and implement comprehensive short- and long-term category plans that include supplier rationalization and consolidation strategies, demand management, supplier relationship management programs, and cost savings plans.
- Analyze spend within assigned categories and develop a pipeline of strategic sourcing projects. Execute pipeline projects, deliver associated cost savings, and regularly update the pipeline in collaboration with internal business partners.
- Design and lead strategic sourcing initiatives (RFI / RFP, bids, auctions, etc.) in collaboration with internal business partners, including evaluation criteria, full cost analysis and robust decision making processes.
- Lead and complete complex negotiations with suppliers related to scope, costs, service levels.
- Negotiate and finalize contract terms and conditions with suppliers. Participate in full lifecycle contract management activities including regular review, updates and management of existing contracts.
- Participate in and provide thought leadership to the development of the third party risk management program. Integrate third party risk management requirements into category management, strategic sourcing, contracts and ongoing supplier relationship management.
- Initiate, develop and maintain strong professional relationships with executives and decision makers aligned with assigned spend categories. Lead periodic meetings with senior leaders to provide updates, insights and status of forward-looking pipeline, and build executive sponsorship for potential changes and impacts.
- In collaboration with internal business partners, drive ongoing supplier relationship management activities including compliance with contracts and service level agreements, periodic business reviews, issue resolution, and completion of third party risk management requirements.
- Work closely with Finance team members to support business case realization, financial analysis, budgeting, forecasting and variance analysis associated with third party spending.
- Design and lead complex change management programs throughout the organization associated with changes in suppliers, or services provided by suppliers.
- Corroborate with accounting and finance team to manage the processes governing vendor management, purchase request approvals and execution of purchase orders.
- Improve and enhance category management, strategic sourcing, negotiation and contract management processes, procedures, tools and templates.
- All other duties as assigned.
- Adherence to and application of Yodlee’s legal, compliance, risk, business continuity and administrative policy within the role and department(s) including the timely completion of training & awareness, affirmations and testing as requested.
- As part of the responsibilities for this role, you will understand and readily support Yodlee’s established corporate business practices, policies, internal controls and procedures designed to create value or minimize risk.
Required Qualifications:
- Bachelor's degree in Business, Finance, Supply Chain, or related (Masters a plus)
- 10+ years of category management, sourcing, negotiation and contract management experience
- Category knowledge and experience in cloud services, software including SaaS, onshore and offshore services, third party data, infrastructure and/or architecture
- Experience supporting sourcing, procurement and third party risk management in a financial services, technology and regulated company
- Understanding foundational concepts of project management, finance, accounting, operating expense and capital spending
- Proficient in Microsoft Office programs (especially Word, Powerpoint and Excel, including pivot tables, vlookups, etc.)
- Strong organizational and change management skills
- Excellent negotiation and communication skills
- Excellent relationship building skills and leads with empathy
- Detailed, investigative and accuracy-oriented
- Proactive, results-oriented with a bias for action
- Ability to handle multiple projects simultaneously to meet specified goals and deadlines
- Ability to listen carefully and ask relevant questions to gather relevant facts required.
Envestnet:
- Be a member of an innovative and industry leading financial technology and solutions company
- Competitive Compensation/Total Reward Packages that include:
- Health Benefits (Health/Dental/Vision)
- Paid Time Off (PTO) & Volunteer Time Off (VTO)
- 401K – Company Match
- Annual Bonus Incentives
- Parental Stipend
- Tuition Reimbursement
- Student Debt Program
- Charitable Match
- Wellness Program
Salary:
The annual base salary range for this position is $108,000 to $162,000.
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