VP, Professional Services Category & Sourcing Lead

• Minimum 10 years+ strategic sourcing experience across Professional Services spend is a must. Core experience in Professional services covering Consulting, HR, Marketing, and Legal (specialism in one or more areas is a must)
• Bachelor's Degree in a related field preferred.
• Proven track record of delivering P&L saving projects.
• Top level commercial negotiation skills with ability to influence cross-functionally.
• Prior in-depth experience negotiating with large and difficult Professional Service providers.
• Experience of and ability to develop and implement category strategy plans for Professional Services sourcing.
• Proven self-starter who can work independently and within a team while effectively juggling multiple priorities.
• Understanding of best-in-class procurement, risk, Information Security and payable processes.
• Personal resilience to work within an extremely fast-paced, ambiguous environment.
• Strong strategic thinker and problem solver with attention to detail.
• Established written and verbal communication skills
• Ability to manage challenging stakeholders diplomatically

The VP, Professional Services Category & Sourcing lead is an important role within State Street's Global Professional Services Team. There are two main aspects to the role, Sourcing and Category. Therefore, the role holder is expected to firstly bring strong sourcing subject matter expertise and best practice techniques, to manage and deliver the "end to end” sourcing and negotiation on deals across Professional Services, and secondly to lead on the development & implementation of Category Strategy plans. Consulting, Marketing, HR & Legal are the primary categories the role will be responsible for.

This role will report to the Global Head of Professional Services Procurement, and be part of the Global Procurement Services (GPS) function.

Why this role is important to us:  The team you will be joining plays an important role in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. In your role you will strive for cutting-edge solutions, that are straightforward and scalable. You will help us build resilience and execute day to day deliverables at our best.

Join us if making your mark in the financial services industry from day one is a challenge you are up for.

What you will be responsible for:  As VP, Professional Services Category and Sourcing Lead, your responsibilities will include:

Sourcing Lead – Primary role:

• Hands on sourcing work to deliver deals and support/motivate a wider team of individuals with varying levels of sourcing knowledge and experience, to
• Complete contract review and mark up of commercials, deliverables and relevant terms.
• Conduct contract compliance checks, and work with legal to redline documents as needed.
• Coordinate, prepare and manage RFx/competitive bids to optimize cost and service.
• Perform direct negotiations and manage sometimes large and complex agreements.
• Support the use of preferred suppliers, pricing, rate-cards, discounts, and buying channels.
• Heavily contribute to P&L and Cost Avoid savings for the team.
• Ensure client satisfaction with service, cycle time, and strategic value-add.
• Performs all duties in accordance with prescribed regulatory/process compliance guidelines.
• Align and execute on the category strategy plan.
• Work on multiple deals/engagements at any given time.

Category Lead – Support role:

• The design, development and implementation of multi-year Category Strategy plans which align with Business Unit (BU) & functional stakeholders, including the ability to:
• Conduct ongoing spend/supplier analysis & category strategy refresh.
• Develop and manage a positive relationship with difficult stakeholders.
• Find and document cost saving opportunities pipeline via stakeholder engagement and data analysis.
• Establish cross-functional teams for major projects and change initiatives
• Drive annual cost savings and productivity improvements via strategic RFPs, and demand / process management.
• Lead and deliver on strategic RFP/deals.
• Design and set up the use of preferred suppliers, standardized pricing, rate-cards, discounts, and buying channels. Manage onboarding approval for new suppliers.
• Drive a solution to requests and issues in a timely way, and perform daily problem solving.
• Assess adherence to plans / guidelines and help address leakage or knowledge gaps.
• Support train and develop key talent where applicable.
• Overall quickly learn the end to end process, and work within the guidelines to gain savings and deliver results. Hands on, doing the work, delivery and output focused role (not head of category/team role).