Job Summary

Uses knowledge and skills obtained through education and experience to oversee sourcing strategies and tactics and correspondingly negotiate business terms, conditions, and pricing. Collaborates with internal stakeholders resulting in the best value for the firm. Influences business stakeholders for strategic sourcing practices within products and services used, which includes leveraging diverse suppliers, negotiation techniques, leveraging sustainability, competing contracts, leveraging benchmarking firms, etc. The Sourcing Manager will identify and discuss risks with the business. Maintains responsibility for the overall development and implementation of sourcing strategies and contracts for their area of responsibility. Resolves escalated issues and problems.

Essential Duties and Responsibilities

• Works with RJ managers, staffing suppliers, risk management, and legal to handle MSAs and SOWs for Non-IT and IT services, which includes the vetting process for new deals, contract amendments, and renewals.
• Manages the sourcing activities by category, business unit, product, and/or service area.
• Participates in joint meetings with internal business clients to assist in engagement prioritization, requirements development, and identification of possible purchasing channels and sources.
• Communicates effectively with stakeholders on policies, processes, and updates to sourcing engagements.
• Assists internal business clients with developing and reviewing contracts, statements of work, service level agreements, deliverables, and specific contractual terms and conditions.
• Identifies and recommends potential alternative sources of supply.
• Develops and manages the execution of initiatives, including data gathering and analysis, business requirement development, supplier qualification, preparation of competitive bidding, evaluation of responses, developing negotiation strategies, participating in or leading supplier negotiations, reviewing, managing contracts, and preparing recommendations to internal business clients.
• Collaborates with the Analytics team to build and maintain profiles of the supply market and key current and potential suppliers.
• Performs detailed analysis of agreements in support of the company’s business operations.
• Evaluates supplier proposal pricing and may develop flexible contractual pricing models, accounting for inflation, currency, scope changes, and other areas of risk mitigation and cost control.

Knowledge, Skills, and Abilities

• Strong negotiation skills required.
• Ability to multi-task and prioritize.
• Articulate with excellent written and verbal communication.
• Knowledge of sourcing (competitive bidding) and contracting principles, processes, governance, and negotiations.
• Understanding of categories to be managed and corresponding marketplaces.
• Familiarity with regulatory guidelines applicable to the company’s business.
• Concepts of risk management.
• Ability to manage supplier relationships effectively.
• Skill in building positive working relationships with internal business clients to help them understand the value of procurement.
• Skill in building positive working relationships with suppliers who are best positioned to provide the company with goods and services at the lowest total cost of ownership and lowest risk.
• Ability to identify, define, and document complex business and technical requirements.
• Skill in reviewing proposals or contracts for potential regulatory, technical, financial, and legal risks.
• Experience negotiating enterprise-wide agreements.
• Ability to engage in personal interactions with key business stakeholders via one-on-one and cross-functional group settings.
• Critical thinking and structuring analyses.
• Establishing personal credibility.
• Gathering information, identifying requirements, determining business objectives, and incorporating findings into sourcing and contract management.
• Analyzing and recommending solutions for problems/challenges, including modeling the business and financial impact of proposed scenarios.
• Negotiating business transactions to favorable conclusions.
• Aligning procurement strategies of sourcing and contracting to tactical purchasing activities needed to support the business.
• Representing business needs to a diverse supply base.
• Interfacing, influencing, articulating, and presenting at corporate levels inside and outside of the company.
• Working independently or collaboratively with others with little supervision.
• Multi-tasking while producing quality deliverables.
• Focusing on detail while maintaining a big-picture orientation.
• Influencing others to achieve desired outcomes.
• Reading, interpreting, and applying commercial and regulatory policies and information and identifying and recommending changes as appropriate.
• Prioritizing and managing multiple engagements in a fast-paced, dynamically changing environment.
• Bachelor’s Degree (B.A. or B.S.) in Business or a related field, and a minimum of 4-6 years of experience in strategic sourcing and contracts management—preferably MSAs and SOWs.

This is the pay range that Magnit reasonably expects to pay for this position: $28.45/hour - $37.93/hour

Benefits: Medical, Dental, Vision, 401K