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City National Bank

Provides banking, investment, and trust services

Senior Strategic Sourcing Manager

Procurement & SourcingPosted on Nov 13
Full-time

About the Job

Requirements

  • A bachelor's degree or equivalent is required.
  • At least 7 years of procurement experience is required.
  • At least 5 years of experience working for a bank or financial services company is required.
  • Knowledge of negotiation principles and practices and procurement practices is required.
  • Skill in negotiation and drafting is required, including drafting contract terms and conditions and working with a team to develop negotiation and sourcing strategies.
  • Experience as a contract negotiator is required.
  • Ability to adapt to change and learn and implement new concepts and ideas is required.
  • Strong verbal and written communication skills are required.
  • Ability to think systematically and strategically to analyze issues and develop actionable short- and long-term plans is required.
  • Ability to analyze details while maintaining a broader perspective and identify potential problems and opportunities is required.
  • Ability to develop new approaches to recurring goals and issues is required.
  • Ability to collaborate across business, Legal, and compliance functions is required.
  • Thoroughness in completing tasks, analyses, and projects is required.
  • Ability to manage time and resources effectively is required.
  • Ability to lead a team and manage upward is required.

Responsibilities

  • 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 and 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 category performance targets and participate in or lead competitive requests for proposals as necessary.
  • Research and stay current on industry practices for products and services within assigned categories.
  • Assist colleagues with interpreting contracts.
  • Lead request-for-X activity.
  • Build and foster relationships and partner 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-system requirements 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.
  • Liaise 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 purchasing categories and serve as a subject matter expert for assigned commodities.
  • Evaluate existing processes and recommend improvements aligned 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.
  • Perform other duties as required.

Desired Qualifications

  • A master's degree is a plus.
  • Continual learning and staying current on industry practices for products and services within assigned categories are preferred.
  • Integrity, accountability, decisiveness, and acting in the bank's best interest are desired.
  • Seeking and accepting responsibility for failures and sharing responsibility for team success are desired.
  • Seeking best practices from across industry sectors and advocating solutions that support future win-win business opportunities are desired.
  • Valuing colleagues' individual differences and talents is desired.
  • Sharing relevant information with the team to ensure solutions meet the bank's needs is desired.
  • Embracing challenges and remaining flexible and adaptable to change are desired.

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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