Strategic Sourcing Analyst

Strategic Sourcing Analyst

Basic Purpose:

Responsible for leading the RFx development, negotiation, and source selection process at NFCU. Perform due diligence activities for potential vendors, issuing RFx's, conduct price analysis and negotiation and source selection. Ensure compliance with Navy Federal Credit Union procurement policies and procedures. Leverage best in class practices and sound sourcing processes that will drive reliable and innovative Total Cost of Ownership initiatives. Assist in the planning and execution of sourcing initiatives that result in successful contracts that support business goals and strategies.

Responsibilities:

Assist the strategic sourcing organization in collaboration with our partners to align sourcing priorities, source selection, conduct market research, mitigate issues and add value through insights

Preparation, issuance and management of a RFP's/ RFIs

Collaboratively work with cross functional teams to develop business unit requirements and Statement of Works.

Administer the supplier due diligence process including non-disclosure agreements, Source Justification, and intake request triage.

Participates in collaborative handoffs with Procurement to ensure effectively negotiated contracts that meet desirable financial terms and conditions.

Ability to analyze large data sets to ensure objective outcomes

Maintain Relationships with lines of business, team members, management, key stakeholders and external contacts (vendors, etc)

Collaborate with stakeholder groups (Operations, PVM, EPMO, OGC, Information Security, etc) to achieve objectives and ensure alignment with Navy Federal's strategy and business operations.

Drive partner satisfaction by learning and understanding partner needs, being responsive to issues, integrating partners into procurement/sourcing processes and building relationships with key stakeholders

Support higher level staff with analyzing business unit requirements for leveraging opportunities, supplier recommendations and acquisition planning

Assist in source selection activities of pre-qualified vendors, including conducting market analysis to determine potential sources

Obtain and analyze vendor performance and delivery data for to ensure quality, consistency, and fairness to inform sourcing activities

Maintain vendor related documentation, including source selection records, supplier performance information, compliance metrics, and value capture results.

Assist in the development of product category strategy and research new product options in the category to drive TCO savings and achieve targets

Perform market data analysis and monitor relevant market conditions for assigned categories

Perform other duties as assigned

Qualifications and Education Requirements:

Bachelor's Degree in Business Administration or a related field, or the equivalent combination of education, training, and experience

Exposure to preparing and reviewing RFPs, RFIs, SOWs

Exposure to strategic sourcing, category management, subcontracts management or procurement

Exposure in managing a formalized process of selecting, monitoring and evaluating vendors/vendor contracts

Effective skill exercising initiative and using good judgment to make sound decisions

Basic skill resolving conflicting requests and meeting changing requirements managing multiple priorities independently and/or in a team environment to achieve goals

Effective communicating and presentations skills

Effective relationship building, negotiation and facilitation skills

Effective data analytics and manipulation skills

Effective skill maintaining accuracy with attention to detail and meeting deadlines

Basic skill at working with and communicating with all with all levels of employees and management within and outside the organization

Exposure to collaborating across organizational boundaries and building partnerships across various functions

Effective skill using innovative thinking and data analysis to solve problems and facilitate the decision-making process

Effective verbal and written communication skills

Effective database, word processing, spreadsheet, and presentation software skills

Desired Qualifications and Education Requirements:

3-5 years procurement, vendor management and/or risk management function

Working knowledge of Navy Federal's functions, philosophy, operations and organizational objectives

Professional Certification CPSM

Bank Secrecy Section (BSA):

Remains cognizant of and adheres to Navy Federal policies and procedures, regulations pertaining to the Bank Secrecy Act.

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