FM Looking For Strategic Sourcing Consultant [T500-20900] at Bengaluru, Karnataka, Full Time

About us:

We are a highly successful 190-year-old, Fortune 500 commercial property insurance company of 6,000+ employees with a unique focus on science and risk engineering. Businesses worldwide trust our expertise to protect their assets, relying on our comprehensive risk assessments and robust, engineering-based insurance solutions to safeguard against fire, natural disasters, and other perils. Serving over a quarter of the Fortune 500 and major corporations globally, we deliver data-driven strategies that enhance resilience, ensure business continuity, and empower organizations to thrive.

FM India is a strategic location for driving our global operational efficiency. Our presence in India allows us to leverage the country’s talented workforce and advance our capabilities to serve our clients better. We have diverse corporate functions that emphasize research, advanced technologies like AI and analytics, risk engineering, research, finance, marketing, HR, etc. working together to provide innovative solutions and nurture lasting relationships – from co-workers to clients.

Role Title: Strategic Sourcing Consultant

Position Summary:

This role is responsible for assisting with a portion of FM’s technology and business procurement and vendor management strategy and helps to execute on that strategy based on rapidly changing technology and business landscapes. This role focuses on the moderate complexity category; focuses on one category strategy; may get some assistance on strategy. The role will assist with the full breadth of procurement and vendor management functions through execution of moderately complex deals that have medium business and financial impact to the success of FM. The person in this role will be responsible to directly interface with both EVP and VP senior leaders to help provide sourcing strategy, focus areas/initiatives, and results. They’ll also be responsible for helping, in collaboration with senior VMO leadership, to influence/steer strategic decisions that align with the vendor management vision and will result in the best outcome for FM.

Job Responsibilities:

End to End Procurement:

• Helps coordinate medium sized, moderately complex, with moderate financial impact projects to forward cross-enterprise and category strategies
• Works with senior procurement staff to research market intelligence regarding alternate suppliers; Collaborates with team to determine short list and selected vendor(s) in line with category strategy for medium complexity, medium risk deals.
• Manages self in procurement process with vendor and internal stakeholders for business critical new products and services and renewals based on medium complexity business requirements and/or medium-impact category strategy. Includes assisting in creation of RFI/RFP, vendor evaluation and selection, contract development, contract price and terms negotiation, conclusion of deal, and follow through on success of implementation/onboarding, etc.
• Leads all interaction on projects with Law & Government Affairs and Information Security, and Architecture/Infrastructure teams as applicable.
• Helps drive partnership with stakeholders to determine mitigation options for vendor risks, with influence of acceptance of risks and/or leading of change in vendor direction
• Manages full procurement life-cycle with vendors/partners in support medium complexity and impactful business areas/categories; Responsible for ensuring SLA’s are met and exceeded.

Strategy and Vendor Management:

• Assists in developing, and evolves Sourcing strategy, for medium complexity categories and potentially with enterprise-wide, cross organizational categories
• Works with a variety of staff in the organization to help define medium complexity projects to assist with forwarding the category strategy
• Works with senior procurement leadership to help definition of Service Level Agreements (SLAs) between strategic vendors and stakeholder business area
• Participates in vendor management program for enterprise and departmental strategic partners including feedback from stakeholders, vendor score card development, quarterly-business reviews.
• Coordinates with senior procurement leadership to ensure evolution of vendor portfolio to ensure highest financial benefits to FM balanced with top delivery, service, execution and value

Relationship Management:

• Assists in the preparation of documentation provided to FM internal customers on sourcing strategy, results, and focus areas/initiatives.
• Builds and maintains relationships with strategic partners and a variety of internal stakeholders with respect to vendor portfolio strategy and direction, financial and risk mitigation opportunities, and business excellence and resilience
• Leverages senior procurement team for mentoring in developing sourcing strategies, executing on procurement and vendor management processes, and relationship building

Process:

• Coordinates implementation of FM’s vendor management program including stakeholder surveys, vendor score-carding and vendor KPI reviews
• Assists in the evolution of cross-organizational procurement and vendor management processes; Provides feedback into creation of associated communication and education artifacts
• Participates in projects to implement and evolve technology platforms and tools to in support FM’s procurement and vendor management strategy and execution of strategy
• Ensures adherence in development of processes, guidelines, tracking and reporting on cost avoidance and cost savings in line with established OKRs
• Provides Sourcing reporting and metrics to share with managers
• Leverages existing market intelligences resources used by Sourcing team; Continues self-directed scanning of the market intelligence options

Skill and Experience:

• 5-7 years of experience required
• Additional Experience Qualifier (optional Strategic sourcing, procurement and vendor management in a broad range of categories including technology for a global organization.
• Experience leading medium sized negotiations with strategic business and technology partners, displaying independent judgement, autonomy, and decision-making
• Experience in all aspects of Sourcing including leveraging of key business strategies and category management for several business areas, some may be high visibility and financial stakes
• Some project leadership skills
• Advanced communication and presentation skills
• Accountability for delivering results with respect to financial and risk management goals

Must Have Skills:

• Vendor management, category management, procurement, and strategic sourcing
• Negotiation skills with experience in contract review and redlining
• Ability to support and help expand a new vendor management program across the organization
• Willingness to learn new sourcing categories.

Education and Certifications:

• 4 Year / Bachelors Degree, Bachelor’s Degree,

Work location: Bengaluru