Job ref no.: CT3114387-01#7890

Assistant Vice President, Vice President, Senior Procurement Specialist

Bank of America

Bank of America Merrill Lynch is an equal opportunities employer.

Position Description

Senior Procurement Specialist hired to support (list FLUs/CFs) in the end-to-end management of procurement and related risk management activities within the (insert FLU/CF/Region) Procurement Team.

As a Senior Procurement Specialist, you will be responsible for negotiating mid-to high-level deals. This includes identifying the critical elements of a deal and developing a procurement strategy, which best serves the interests of BAC and drives value to the enterprise. When completing an assigned deal, the Senior Procurement Specialist is responsible for the quality of the deal, including process adherence, deal substance, and accurate data capture. Viewed as a trusted advisor by the business stakeholders, the Senior Procurement Specialist is expected to have subject matter expertise in diverse commodity areas and to frequently support the development of category strategies. Aside from supporting the procurement of goods and services, a Senior Procurement Specialist may also support in effectively implementing the Third Party Policy, including the effective use of third parties.

Key Responsibilities

  • Negotiate contracts in accordance with best practices, assists the business owner in creating a SOW/SLA, providing clarity and addressing all applicable requirements
  • Understand and adhere to Global Procurement processes and policies
  • Able to use persuasion to build group consensus and resolve challenging situations
  • Assist in leading a project team in the development of complex proposal documents and is proficient in the objective analysis of proposal responses, the identification on non-conforming items and the overall evaluation of potential service providers
  • Help structure elements of an RFP (technical, contractual, schedule and cost) in order to ensure that uniformed bids are received
  • Capable of influencing the category strategy to achieve business goals and objectives
  • Is a practitioner of minimizing risk, attaining best value (cost saves), and providing complete solutions
  • Help identify and escalate risks and issues to the appropriate governance routines
  • Analyze business level of adherence within program scorecards in order to identify potential themes and issues
  • Quickly adapt to changes within the Procurement Program and be able to help reinforce changes within the business stakeholders
  • Balance being an advocate for the Procurement Program and representing legitimate concerns from business stakeholders
  • Work routinely with risk partners (Legal, Compliance, Ops, Info Sec, etc.) in negotiating deals and in managing outsourcing risk
  • Assist business in providing documentation/evidence when responding to audit and/or regulatory inquiries
  • Has a strong desire to learn, positive attitude, and be flexible and creative in job execution
  • Consistently provide a high level of service by establishing and clearly communicating mutual expectations, developing an understanding of business needs, and demonstrating competency and consistency in meeting commitments
  • Builds broad-based business relationships and partnerships across the organization, skillfully influences peers and colleagues to promote and sell ideas, and proactively surfaces and resolves conflict with minimal noise
  • Proven ability to communicate, partner, and influence across a matrix organization
  • Leverages organizational skills to monitor work and keep it on track to meet or exceed commitments and consistently provides updates to the concerned parties
  • Exemplifies strong time management skills, able to work independently, manage concurrent projects, set goals, and prioritize focus

Key Requirements

  • Significant experience of sourcing for (Technology) categories
  • Software category experience would be beneficial
  • Legal experience, while not required, would be beneficial
  • Previous experience, ideally within the Financial Services Industry, preferred, but not mandatory
  • Have experience managing outsourcing and/or third party risk
  • Self-starter, with capability of working autonomously across multiple procurement projects is essential
  • Working knowledge of relevant outsourcing laws, rules, and regulations
  • Have experience negotiating contracts
  • Sound commercial awareness and good analytical and research skills
  • Comfortable with Sourcing systems (ideally Ariba) spreadsheets, presentations and project management
  • Excellent communicator at all levels
  • Able to build and manage relationships with business partners across various teams
  • Proactive, conscientious and high level of attention to detail
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More job information
Job ref no. CT3114387-01#7890
  • N/A
Job Function
Employment Term
  • Full-time
  • 0 year
Career Level
  • Senior management level
  • N/A