Cost and Supplier Management Sr. Consultant

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Regular or Temporary:

Regular

Language Fluency:  English (Required)

Work Shift:

1st shift (United States of America)

Please review the following job description:

Serves as the relationship manager for assigned internal or external vendor relationships with Strategic Enterprise Technology Suppliers, including potentially those providing offshore services. Handles matters relating to contract administration, process management and/or relationship financial and performance management.
The purpose of this role is to contribute to the development of sustainable solutions through the engagement of third-party suppliers that advance Enterprise Technology (ET) operational performance by working cross-functionally with internal stakeholders, utilizing strong analytics and data-driven problem-solving skills. Supports the ET Business Management Operations (BMO) team in developing roadmaps, validating reporting, and providing analysis and insights. Works closely with key stakeholders to advance ET financial and reporting management.

ESSENTIAL DUTIES AND RESPONSIBILITIES

Following is a summary of the essential functions for this job.  Other duties may be performed, both major and minor, which are not mentioned below.  Specific activities may change from time to time. 

• Maintains meta-data in regard to assigned portfolio of suppliers including: executive relationship summaries; account contacts; current contract terms, conditions and values and termination/renewal dates (deal sheet inventory); and third-party activities including assessments, findings and governance activities.
• Schedules and facilitates relationship activities including: all on-boarding activities; tactical activity meetings and reports; periodic business reviews and visioning sessions.
• Maintains a subject matter expert level of understanding of overall strategic supplier capabilities, competencies and future directions.
• Maintains a broad industry perspective and knowledge in regard to the technology product or service trends, challenges, and competitors.

As well as the below standard supplier management responsibilities:

• Manages the third-party service and supplier management governance and reporting responsibilities for assigned suppliers including vendor onboarding and risk assessment process – facilitates initial and ongoing risk assessment, assess agreement, data access and collect key onboarding documents and work with Sourcing to activate vendor for invoicing.
• Proactively partners with internal stakeholders to manage third party risks (e.g. business impact, operational risk, info sec access) and develops mitigation plans.
• Handles matters relating to contract administration, process management and/or relationship financial and performance management.
• Owns the on-going pipeline status of Sourcing Requests for assigned suppliers.
• Facilitates requirements gathering for RFX processes and contract development with internal stakeholders. 
• Assists Sourcing and Line of Business as required on negotiation of contract terms and conditions.
• Collects, routes and guides contract changes through Truist processes for vendor or Truist requested contract changes.
• Establishes and monitors vendor performance metrics, measurability, service/product delivery satisfaction and reporting.
• Establishes and facilitates periodic vendor performance measurability meetings.
• Manages stakeholder’s day-to-day needs.
• Monitors internal and external service relationships to ensure quality of service delivery, client satisfaction, operational efficiencies, and achievement of target cost savings.
• Serves as first line, tactical conduit for communication between LOBs/teammates and the service provider(s).
• Monitors and tracks supplier performance issues while identifying potentially problematic trends.
• Acts as an escalation point for supplier issues inclusive of unfavorable supplier response time concerns.  
• Assists in the development of correction action plans for standards that are not met by the supplier (Continuous Improvement Plan).
• Executes on timely closure of compliance related ongoing governance activities/action plans/findings and partners with Third Party Risk Management (TPRM) and compliance teams to ensure contracts/suppliers meet all required regulations and expectations.
• Engages with Supplier, line of business contacts and Sourcing operations to resolve supplier billing issues.
• Acts as a resource for teammates with less experience.
• Manages supplier specific functional activities as necessary (i.e. credit tracking or facilitation of catalog availability).

KEY COMPETENCIES:

• Executive presence – confidence and preparedness to develop and present to various levels of Enterprise Technology and Operations management. Ability to conceptualize Supplier capabilities and competencies and develop presentation materials for various levels of Truist management.  Ability to facilitate meetings between Suppliers and executive/senior ET management that are effective and efficient.
• Technical knowledge and architectural understanding – industry experience to understand Supplier presentations and documentation in core technology infrastructure and an advanced level of understanding of Truist architecture and plans to evaluate applicability of supplier offerings Truist environmental reality strongly preferred.
• Time Management – ability to evaluate competing priorities to effectively manage all Strategic, Tactical and Operational requirements for assigned portfolio of suppliers.
• Systems and Process Knowledge – advanced knowledge to Truist policies, procedures, and systems preferred.
• Detailed knowledge – demonstratable experience with Telecom supplier, technologies, trends and solutions preferred.

QUALIFICATIONS
Required Qualifications:
The requirements listed below are representative of the knowledge, skill and/or ability required.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Bachelor’s degree and 5 years of finance experience with experience managing complex, IT vendor relationships; or an equivalent combination of education and work experience. 
• In-depth knowledge in information systems and ability to identify, apply, and implement best practices.
• Understanding of key business processes and competitive strategies related to the IT function. 
• Ability to plan and manage projects.
• Ability to solve complex problems by applying best practices.
• Ability to interpret and convey complex, difficult, or sensitive information.
• Ability to provide direction and mentor less experienced teammates. 

General Description of Available Benefits for Eligible Employees of Truist Financial Corporation: All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position. Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates. Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays. For more details on Truist’s generous benefit plans, please visit our Benefits site. Depending on the position and division, this job may also be eligible for Truist’s defined benefit pension plan, restricted stock units, and/or a deferred compensation plan. As you advance through the hiring process, you will also learn more about the specific benefits available for any non-temporary position for which you apply, based on full-time or part-time status, position, and division of work.

Truist supports a diverse workforce and is an Equal Opportunity Employer that does not discriminate against individuals on the basis of race, gender, color, religion, citizenship or national origin, age, sexual orientation, gender identity, disability, veteran status or other classification protected by law. Truist is a Drug Free Workplace.

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