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Sr. Procurement Analyst
at Webster Bank
145 Bank Street-NH501
If you're looking for a meaningful career, you'll find it here at Webster. Founded in 1935 by Harold Webster Smith, our focus has always been to put people first--doing whatever we can to help individuals, families and businesses achieve their financial goals. And while we've grown into a leading commercial bank, we remain passionate about serving our customers, supporting our communities, and making a difference in people's lives. We can make a difference in your life, too. By empowering you to build the meaningful career you've been looking for.
Responsibility, respect, trust, teamwork and citizenship are the values on which Webster was founded. Together we call them The Webster Way, and they are what set us apart as a bank and an employer. Guided by these values, we put people first - working hard to live up to our customers, and each other, every day.
The Procurement Analyst reports directly to the VP, Head of Strategic Sourcing. S/He will support the overall needs and requirements of Procurement's Strategic Sourcing team, aligned with the strategic focus of Webster Bank and the Procurement department. This role entails a range of responsibilities including administering strategic sourcing projects, support of tactical activities facilitating the contract administration process and guiding LOB partners through the Strategic Sourcing process or related Procurement processes.
The role provides support to the lines of business in executing Strategic Sourcing projects and procedures to achieve departmental targets for cost savings, process efficiency, and risk mitigation. The role involves building financial cases for supplier comparison and combining comparative data in support of the negotiation process, as well as conducting supplier research, industry analysis, and best practices. The position requires a person with a proactive attitude providing excellent facilitation and customer service to line of business clients and the external community. Additionally, this role serves in the capacity of facilitation of other ancillary duties across the three areas of Procurement.
The primary objectives for the Procurement Analyst are to:
- Guide internal clients through a strategic sourcing process for new suppliers and categories or renewals
- Support daily activities associated with governance oversight of the sourcing process and/or contract origination and review standards.
- Work with the lines of business to execute sourcing projects to the enterprise while ensuring Procurement procedures are met.
- Provide governance to the sourcing process and coordinate with the appropriate internal departments as required to facilitate project completion
- Apply the sourcing process to achieve cost containment, savings and/or avoidance
- Execute the sourcing process at an intermediate/junior level in order to achieve financial goals and targets in support of strategic objectives
- Provide support of tactical activities including; contract sign-off sheets, contract approvals, contract searches, contract storage, PO processing and invoice payment.
- Develop strong relationships with key stakeholders across a variety of commodities, including but not limited to Bank Equipment, Professional Services, Marketing, IT, HR, and Real Estate
- Administer the sourcing process in accordance with departmental and firm standards, policies, and procedures
- Provide framework for the collection and vendor scoring criteria, facilitating the vendor selection process to provide support to both clients and other sourcing team members
- Successfully manage a variety of simultaneous projects with varying levels of senior management involvement and impacted stakeholders utilizing experience and a deep-rooted knowledge of project management processes and practices
- Mine and identify additional opportunities for sourcing savings (including demand management) and improvement through active stakeholder engagement, research, and data analysis
- Develop and execute RFx's as required to drive improvement,
- Under the guidance of a Strategic Sourcing Manager (or Head of Strategic Sourcing) review and negotiate contracts, identifying risks and opportunities, communicating them effectively to internal stakeholders and suppliers to achieve intended results, serving as a subject matter expert through the completion of all assigned sourcing projects
- Actively maintain and provide individual and project-based reporting in accordance with department standards
- Work with Procurement leadership to identify areas for ongoing firm and departmental improvement
- Collaborate across the Procurement organization with the areas of Third Party Risk Management and Tactical Procurement to ensure seamless service is delivered to the internal client base and the Webster's supplier community
- Ensure sourcing projects are conducted consistently to ensure proper coordination and collaboration with Third Party Risk Management standards and procedures
- Facilitate successful transition of relevant sourcing categories and suppliers through the eProcurement solution
- Utilize the contract management system to obtain and distribute third party agreements
- Undergraduate degree in Procurement, Supply Chain Management, Finance and/or Business required.
- MBA or graduate degree in related field preferred
- 3-5 years of related experience in Procurement, Strategic Sourcing, eProcurement, Finance Services
- Demonstrated ability to negotiate less complex contracts preferred
- 7-Step Strategic Sourcing process (or equivalent)
- Developing leadership abilities
- Embrace change on continuous improvement initiatives and willingness to lead a continuous improvement idea
- Demonstrated ability to be an enthusiastic and flexible team player
- Developing or proven decision-making, problem solving and organizational skills commensurate with years of experience
- Strong alignment, interpersonal and collaboration skills
- Ability to communicate and influence with peer group and other levels across the organization
- Developing ability to communicate progress of a project or new idea using PowerPoint
- Developing ability to create education and procedure training materials in the form of power-point decks, live and recorded webinars
- Embody Webster's core values, taking responsibility for meeting customer's needs, respecting the dignity of every individual, earning trust through ethical behavior, giving of ourselves in the communities we serve, and working together to achieve outstanding results
Office Technology Software
- MS Office: Basic proficiency Word, Outlook; Intermediate proficiency with Excel and PowerPoint
- ERP/Procurement Tools
- Oracle eProcurement or working knowledge of competitor/similar product suites
- Contract Management systems, workflow or manual method