Full-Time

Cost and Supplier Management Senior Consultant

Confirmed live in the last 24 hours

Truist

Truist

501-1,000 employees

Platform for Registered Investment Advisors' operations

Fintech
Financial Services

Senior

Orlando, FL, USA + 6 more

More locations: Raleigh, NC, USA | Goldsboro, NC, USA | Richmond, VA, USA | Winston-Salem, NC, USA | Charlotte, NC, USA | Atlanta, GA, USA

Category
Financial Consulting
Management Consulting
Consulting
Required Skills
Business Strategy
Requirements
  • Bachelor’s degree and eight years of IT service delivery with experience managing complex, IT supplier relationships; or an equivalent combination of education and work experience.
  • Deep specialized and/or broad functional knowledge. Sound understanding of business and organizational strategies and processes.
  • Ability to interpret internal and external business challenges and recommend best practices. Ability to lead complex projects.
  • Sophisticated analytical skills and the ability to solve complex technical and business problems.
  • Ability to influence others at senior levels to adopt a new perspective.
Responsibilities
  • Collaborate with key stakeholders to develop and implement supplier strategies that align with Truist’s overall business objectives.
  • Identify and evaluate potential suppliers, ensuring they meet the institution's strategic needs and compliance requirements.
  • Lead the onboarding process for suppliers, ensuring they meet Truist’s standards for quality, security, and compliance.
  • Conduct thorough due diligence on suppliers, including financial stability, operational capabilities, and risk factors.
  • Establish and maintain strong relationships with strategic suppliers, business stakeholders, and sourcing, acting as the primary point of contact.
  • Facilitate regular communication between Truist and suppliers to ensure alignment and address any issues promptly.
  • Develop and enforce Service Level Agreements (SLAs) to ensure suppliers meet performance expectations.
  • Conduct regular performance reviews, analyzing key metrics and KPIs to assess supplier effectiveness and identify areas for improvement.
  • Collaborate with finance, business stakeholders, sourcing, and other departments to develop financial plans related to supplier engagements.
  • Identify and implement cost-saving opportunities without compromising service quality or operational efficiency.
  • Ensure effective contract utilization, maximizing value from supplier agreements.
  • Identify potential risks associated with supplier relationships and develop mitigation strategies.
  • Monitor supplier compliance with regulatory requirements and internal policies, taking corrective actions when necessary.
  • Work closely with procurement, finance, legal, and other departments to ensure seamless supplier management processes.
  • Provide insights and recommendations to senior leadership on supplier performance and cost management strategies.
  • Stay updated on industry trends, best practices, and emerging technologies related to supplier management.
  • Lead initiatives to improve supplier management processes, driving innovation and efficiency.
  • Oversee contract negotiation and management, ensuring favorable terms and conditions that align with Truist’s interests.
  • Manage the renewal and termination of supplier contracts in a timely and efficient manner.
  • Prepare and present reports on supplier performance, cost management, and other key metrics to senior leadership.
  • Maintain accurate and up-to-date records of supplier engagements, contracts, and performance evaluations.

Truist offers a platform for Registered Investment Advisors (RIAs) to improve their operations and client services. Its features include live chat support, commission-free fractional share trading, a model marketplace, and an automated rebalancer, which help RIAs manage their businesses more efficiently and serve more clients at lower costs. Unlike competitors, Truist provides these services for free, monetizing through a vertically-integrated custodian service that reduces overhead costs for RIAs. The company's goal is to empower RIAs to grow their businesses and enhance client experiences.

Company Stage

Series E

Total Funding

$437.2M

Headquarters

Culver City, California

Founded

2018

Growth & Insights
Headcount

6 month growth

22%

1 year growth

40%

2 year growth

73%
Simplify Jobs

Simplify's Take

What believers are saying

  • Altruist raised $169M in Series E funding, boosting growth potential.
  • Collaboration with Orion enhances performance reporting capabilities for RIAs.
  • Digital fixed-income trading launch expands Altruist's service offerings.

What critics are saying

  • Competition from Betterment and Wealthfront pressures Altruist to innovate continuously.
  • Frequent platform updates may increase operational costs and disrupt services.
  • Reliance on free service model could be vulnerable to market demand shifts.

What makes Truist unique

  • Altruist offers commission-free fractional share trading, attracting cost-conscious RIAs.
  • The platform includes a model marketplace for personalized investment strategies.
  • Altruist provides a vertically-integrated custodian service to streamline RIA operations.

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