City National Bank

Provides banking, investment, and trust services

Strategic Sourcing Manager

Procurement & SourcingConfirmed live in the last 24 hours

Full-timeLos Angeles, CA, USA

About the Job

Requirements

A bachelor's degree or equivalent is required.
A minimum of 5 years of procurement experience is required.
A minimum of 2 years of experience working for a bank, financial services company, or indirect procurement organization is required.
Knowledge of negotiation principles and practices, and procurement practices.
Ability to learn and stay current on industry practices for products and services within assigned categories.
Experience and skill in contract negotiation, drafting contract terms and conditions, and working with a team to develop negotiation and sourcing strategies that lead to favorable outcomes.
Ability to think systematically and strategically to analyze issues and develop actionable short- and long-term plans.
Ability to develop recommendations and work with Procurement to implement ideas successfully.
Thoroughness in completing tasks, analyses, and projects, considering all required elements.
Ability to effectively manage time and resources.
Ability to lead a team and manage upward.

Responsibilities

Lead mid- to high-level complex negotiations, transactions, and procurement projects.
Lead negotiations and draft contracts for commodities and services purchased by the bank, working with Legal, compliance, finance, the business, and other departments to minimize risk and obtain favorable terms.
Identify and recommend category sourcing options and partner with stakeholders to implement them.
Determine and recommend alternate supply strategies to create cost savings or supply support solutions.
Analyze business plans, spend data, supplier data, and market data to determine optimal sourcing strategies across businesses and assigned suppliers or commodities.
Contribute to defined category performance targets and participate in or lead competitive requests for proposals as needed.
Research and stay current on industry practices for products and services within assigned categories.
Assist colleagues with interpreting contracts.
Lead request-for-x (RFx) activity.
Build and foster relationships and partner across functions with internal stakeholders, external suppliers, and colleagues to influence change.
Manage assigned projects and communicate with stakeholders.
Ensure compliance with company policies, procedures, standards, and procurement systems in alignment with stakeholder objectives.
Prepare reports for management as requested.
Manage supplier involvement and relationships with the company.
Manage supplier audit activities and facilitate activities around supplier audits.
Govern vendor sourcing agreements.
Manage and mitigate vendor risk, business continuity, and security.
Act as a liaison with vendors to ensure organizational needs are met.
Prepare and present strategic sourcing strategies for assigned suppliers or commodities to senior management.
Develop and maintain market and technical expertise in assigned buy categories and serve as a subject matter expert for assigned commodities.
Evaluate existing processes and recommend process improvements in line with best practices and practical experience.
Analyze spend data to identify cost-saving opportunities.
Recommend supplier and vendor strategies for existing suppliers and alternatives to leadership.
Train and mentor other Procurement team members.
Empower others to achieve results through motivation, recognition, and performance feedback.
Participate with management in developing procurement strategies and plans.
Work at a strategic level and, when requested, perform tactical hands-on work.
Perform other duties as required.

Desired Qualifications

A master's degree is a plus.
Ability to adapt to change.
Ability to ask questions, remain open to learning new concepts and ideas, and implement them.
Ability to act with integrity and accountability, identify opportunities amid ambiguity, advocate for the bank's interests, make timely decisions, accept responsibility for failures, share responsibility for team success, seek cross-industry best practices, and support solutions that enable future win-win business opportunities.
Good verbal and written communication skills.
Ability to connect details and broader issues, anticipate potential problems, and identify opportunities.
Ability to collaborate with business, Legal, compliance, and other colleagues, value individual differences and talents, and share relevant information so solutions meet the bank's needs.
Ability to embrace challenges and adapt to change.

STRATEGIC SOURCING MANAGER

WHAT IS THE OPPORTUNITY?

City National Bank is looking for a Strategic Sourcing Manager to join their Enterprise Procurement department supporting all business lines and offices in North America. This role will be responsible for leading complex negotiations and drafting contracts for commodities and services to be purchased by the bank. Interface with executive level management and make recommendations. Proactively identifies and recommends category sourcing options and partners with stakeholders to implement them. Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions. Analyze business plans, spend data, supplier and market data, to determine optimal sourcing strategies across businesses and assigned suppliers and/or commodities. Contributes to the achievement of defined category performance targets and participates in or leads competitive RFPs as necessary. Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions. Train and mentor other Enterprise Procurement team members.

WHAT WILL YOU DO?

Lead Mid to High Level Complex Negotiation / Transactions / Procurement Projects
Knowledgeable of the Strategic Sourcing process, drafting of contracts, financial reviews and procurement practices
Lead negotiations and contract drafting for commodity/service to be purchased by the bank. Work with Legal, compliance, finance, the business and other department to minimize risk and obtain the favorable terms for the bank
Proactively identifies and recommends category sourcing options and partners with stakeholders to implement them
Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions
Analyze business plans, spend data, supplier and market data, to determine optimal sourcing strategies across businesses and assigned suppliers and/or commodities
Contributes to the achievement of defined category performance targets and participates in or leads competitive RFPs as necessary
Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions
Research and stay current on industry practices for product and services within the assigned category(s)
Assist colleagues with interpreting contracts
Lead RFx activity
Builds and fosters relationships and effectively partners across varied functions with internal stakeholders, external suppliers, and colleagues to influence change,
Manage assigned projects and communicate with the stakeholders
Ensures compliance with Company policies, procedures, standards, use of Procurement systems in alignment with the stakeholder’s objectives
Prepare reports for management as requested
Manages supplier involvement and relationship with the Company
Manages Supplier audit activities
Governance of vendor sourcing agreements
Manages/mitigates vendor risk, business continuity and security
Acts as liaison with vendors to ensure organizational needs are met
Prepares and presents strategic sourcing strategies for assigned suppliers and/or commodities to senior management
Develops / maintains market and technical expertise in assigned buy categories
Recognized as subject matter experts (SME) of their commodity(s)
Evaluates existing processes and provide process improvement recommendations in line with best practices and practical experience
Facilitates activities around supplier audits
Mines spend data to identify cost savings opportunities
Recommends to leadership supplier/vendor strategies for existing suppliers and alternatives
Trains and mentors other Procurement team members
Empowers others to achieve results through motivation, recognition and performance feedback
Participates with management in development of procurement strategies and plans
Works at strategic level and if requested tactical (hands-on)
Perform other duties as required

WHAT DO YOU NEED TO SUCCEED?

Required Qualifications*

Bachelor's Degree or equivalent
Minimum 5 years Procurement experience required
Minimum 2 years of experience working for a bank, financial services company or indirect Procurement Organization required

Additional Qualifications

Knowledge of negotiation principles & practices, and procurement practices
Ability to learn and stay current on industry practices for product and services within the assigned category(s)
Skill in Negotiation & Drafting: Acts with integrity. Experienced and skilled contract negotiator. Experienced drafting contracts terms & conditions and working with a team to develop a negotiation and sourcing strategy which will lead to the best negotiate outcomes
Ability to adapt to change
Skill in asking questions and open to learning new concepts, ideas, and implement them
Creates and seizes opportunities even when faced with ambiguity; acts with integrity, is accountable and advocates in the best interest of the bank; is decisive and acts in a timely manner, acts on information and adapts with changes; seeks and accepts responsibility for failure; share responsibility for team success; seek best practices from across all industry sectors; advocate for solutions that will set the foundation for win-win solutions in future business opportunities
Good verbal and written communication skills
Ability to think systematically and strategically to analyze issues, develop and create short and long term actionable plans. Considers details and sees the big picture. Sees around corners to preempt potential problems and leverage opportunities; connects multiple seemingly unrelated problems to see the big picture
Continually develops a better understanding of current and future challenges and opportunities; creates a recommendation and works with Procurement to successfully implements ideas. Systematically develops new approaches to standard or recurring goals and issues Generates the best outcomes through collaboration (business, Legal, compliance, etc.). Values colleagues’ individual differences and talents. Shares important or relevant information with the team to ensure solutions meets the needs of the bank
Thoroughness in completing a task/analysis/project with concern for all elements required at every level
Effectively manages time and resources
Embraces challenges
Lead a team and manage up
Flexible and adaptable to change
Master’s degree a plus

WHAT'S IN IT FOR YOU?

Compensation

Starting base salary: $60,500 - $104,500 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.

Benefits and Perks

At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues including:

Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
Generous 401(k) company matching contribution
Career Development through Tuition Reimbursement and other internal upskilling and training resources
Valued Time Away benefits including vacation, sick and volunteer time
Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
Career Mobility support from a dedicated recruitment team
Colleague Resource Groups to support networking and community engagement

Get a more detailed look at our Benefits and Perks.

ABOUT US

Since day one we've always gone further than the competition to help our clients, colleagues and communities flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues today. City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies. To learn more about City National and our dynamic company culture, visit us at About Us.

INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT

City National Bank fosters an inclusive environment where all forms of diversity are valued and leveraged to make us a better company and employer. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender identity, national origin, disability, veteran status or other basis protected by law.

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

*Represents basic qualifications for the position. To be considered for this position, you must at least meet the required qualifications. careers.cnb.com accepts applications on an ongoing basis, until filled.

Unless otherwise indicated as fully remote, reporting into a designated City National location is an essential function of the job.

#LI-MA

#CA-MA

About the Company

City National Bank

Provides banking, investment, and trust services

City National Bank provides personalized banking, investment and trust services to individuals and businesses, with $93 billion in assets and $106 billion in client assets under management or administration. It offers traditional banking, wealth management and fiduciary services through branches and private banking relationships across markets in California, New York, Tennessee, Georgia, Delaware, Nevada, Washington, D.C., and Miami (as CN Bank). The bank distinguishes itself with a strong local footprint, close integration with its parent Royal Bank of Canada, and a history of community giving, including nearly $10 million donated in 2024. Its goal is to help clients grow and protect their wealth while supporting the communities it serves and expanding its market reach through trusted advisory services.

Company size: 5,001-10,000
Company stage: IPO
Headquarters: Los Angeles, CA
Founded: 1953

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