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SENIOR ASSOCIATE, Professional Services Sourcing/Procurement Manager

New York Life Insurance

New York Life Insurance

This job is no longer accepting applications

See open jobs at New York Life Insurance.
Sales & Business Development, Operations
New York, NY, USA
Posted on Saturday, January 13, 2024

Location Designation: Hybrid - 3 days per week

When you join New York Life, you’re joining a company that values career development, collaboration, innovation, and inclusiveness. We want employees to feel proud about being part of a company that is committed to doing the right thing. You’ll have the opportunity to grow your career while developing personally and professionally through various resources and programs. New York Life is a relationship-based company and appreciates how both virtual and in-person interactions support our culture.

This position is hybrid - Tuesday - Thursday in the New York Office and Monday and Friday work from home.

This Sourcing Manager’s key responsibilities are to i) lead the planning and development of sourcing strategies for sourcing requests of varying complexity, and ii) take responsibility for the execution of these strategies.

This role partners with New York Life's business stakeholders, legal resources and other Procurement team members to deliver value-added business solutions through New York Life's supplier base. In addition to recommending appropriate procurement strategies and methodologies, the Sourcing Manager oversees the sourcing, negotiating, and contracting of goods and services.

The Sourcing Manager is expected to effectively collaborate with all Procurement team members to provide coordinated and consistent customer service. The Sourcing Manager will also be expected to effectively interact with senior business partners and other relevant stakeholders including technology, risk, and legal to ensure proper risk mitigation and alignment with business capabilities and objectives.

Responsibilities:

  • Articulate, influence and translate external market trends, along with internal business priorities, to develop Sourcing insights aligned with NYL objectives
  • Develop short- and long-term strategies and oversee execution of such strategies that leverage economies of scale and scope across the organization
  • Assess overall spend, current and prospective suppliers, as well as client requirements, reporting structures and relationships within NYL and be accountable for procurement goals and initiatives
  • Work directly with Procurement team members and stakeholders to develop a project pipeline and prioritization schedule
  • Assist in the creation and communication of savings targets and programs based on knowledge of market categories and business unit strategies resulting in savings execution and other objectives
  • Ensure senior level management understanding of the sourcing recommendations and assist in the implementation of sourcing and contract initiatives, ensuring understanding of related risks, costs, and savings opportunities
  • Accountable for managing large strategic procurement initiatives and/or programs

Qualifications:

  • 5 years minimum level of experience
  • Bachelor’s degree
  • A high-level understanding of relevant procurement processes within Professional Services Sourcing is required including strategic sourcing, sourcing management, competitive bidding (RFx, reverse auction), contract management, purchasing, etc.; must have expertise in legal terms and conditions
  • Knowledge and experience in insurance or financial service industries is helpful; candidate should i.) have a broad understanding of sourcing and Sourcing trends and their commercial application and ii.) have strong project management skills
  • Intellectually curious analytical and strategic thinker. Demonstrated ability to analyze/research problems, identify and consider potential solutions, and make timely recommendations; works with others to effectively address issues when they occur
  • Demonstrates a strong ability to influence and build consensus among members of the organization, communicates clearly and adapts style to suit audience requirements and demonstrates ability to listen, interprets and presents information effectively using verbal and non-verbal cues
  • Assists with decision making on vendor selection in concert with the requirements as well as prioritizes sourcing projects and transactions

This position is hybrid - Tuesday - Thursday in the New York Office and Monday and Friday work from home.

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Salary range: $72,500-$107,500

Overtime eligible: Exempt

Discretionary bonus eligible: Yes

Sales bonus eligible: No

Click here to learn more about our benefits. Starting salary is dependent upon several factors including previous work experience, specific industry experience, and/or skills required.

Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the Foundation. We're proud that due to our mutuality, we operate in the best interests of our policy owners. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.

Job Requisition ID: 89897

This job is no longer accepting applications

See open jobs at New York Life Insurance.