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Senior Procurement Specialist

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Job Details
Job Order Number
JC149831972
Company Name
Bank of America
Physical Address

Wilmington, DE 19806
Job Description

Job Description:

Job Description

This role supports the procurement needs of Bank of America’s Legal department. As Senior Procurement Specialist, you will be responsible for supporting Legal’s category strategies (e.g. eDiscovery, Litigation Consultant Experts, Transfer Agent and Shareholder Records, etc.) and negotiating vendor deals and projects from inception to completion. This includes leveraging current and future business requirements, market intelligence, and historical spend information to develop specific deal negotiation strategies that optimize the vendor base, creates business value and reduces risk. The Senior Procurement Specialist should understand Bank of America’s end-to-end third party program and enforces Business compliance to that program.

+ Proficient with understanding and driving adherence of procurement category strategies to achieve business goals and objectives

+ Manage a 12-18 month pipeline of contract aligned to Bank of America’s legal services

+ Able to lead a team in the development of a negotiation approach, create RFP proposal documents (technical, contractual, schedule and cost), and drive analysis of proposal responses/overall evaluation of service providers

+ Negotiates contracts utilizing best practices, assists the business owner in creating business requirements including Schedules/ Statement of Works and Service Level Agreements, providing clarity and addressing all Business requirements

+ Comfortable with legal contract concepts (Limitation of Liability, Indemnification) and able to drive negotiation acceptance of Bank of America’s required language with those terms

+ Work routinely with risk partners (Legal, Compliance, Ops, Info Sec, etc.) in negotiating deals and in managing outsourcing risk

+ Consistently provides 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

+ Ability to communicate, partner, and influence across a matrixed organization

+ Identify and escalate risks and issues to the appropriate governance routines

+ Analyze and determine adherence to Bank of America’s Third Party Program

Required Skills

+ 5+ years of experience sourcing for various indirect procurement categories (Legal services categories a plus)

+ Four-year college degree

+ Strong contract negotiation skillset and experience

+ Strong business acumen and ability to connect market intelligence to actionable procurement tactics

+ Self-starter, with capability of working autonomously across multiple procurement projects is essential

+ Proactive, conscientious and high level of attention to detail

+ Proficient with Sourcing systems (ideally Ariba)

+ Excellent communicator and able to build and manage relationships with business partners across various teams

Desired Skills:

+ Previous experience within the Financial Services Industry preferred

+ Legal Services category management experience and/or strategic sourcing experience preferred

Posting Date : 11/05/2019

Location :

Wilmington, DE, BRACEBRIDGE II, 1020 N FRENCH ST,

Boston, MA, 225 FRANKLIN ST (MA1225),

Charlotte, NC, 201 N TRYON ST (NC1022),

Riverside, RI, 3400 Pawtucket Ave (RI1530),

- United States

Travel : Yes, 5% of the time

Full / Part-time : Full time

Hours Per Week : 40

Shift : 1st shift

Assistance for Applicants with Disabilities

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Diversity & Inclusion

At Bank of America, our commitment to diversity and inclusion is helping us to create not only a great place to work, but also an environment where our employees, our customers and our communities around the world can reach their goals and connect with each other. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

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