Vice President, Sourcing and Procurement

Vice President, Sourcing and Procurement

At BNY, our culture empowers you to grow and succeed. As a leading global financial services company at the center of the world's financial system we touch nearly 20% of the world's investible assets. Every day around the globe, our 50,000+ employees bring the power of their perspective to the table to create solutions with our clients that benefit businesses, communities and people everywhere.

We continue to be a leader in the industry, awarded as a top home for innovators and for creating an inclusive workplace. Through our unique ideas and talents, together we help make money work for the world. This is what #LifeAtBNY is all about.

We're seeking a future team member for the role of VP to join our ESO Data & Analytics team. This role is located in Pittsburgh, PA, and is a hybrid position.

In this role, you'll make an impact in the following ways:

• Development of strategic sourcing opportunities through the introduction of a competitive bidding, proofs-of-concept, demand management, supplier consolidation, and process reengineering
• Partner with Technology/Business Leads, Vendor Risk and Legal teams in the negotiation of: Enterprise Licensing Agreements, Subscription Agreements, Master Services Agreements (MSAs), Statement of Work, Services Level Agreements (SLAs), NDAs, etc.
• Own the full strategic sourcing cycle, including vendor identification and selection, price negotiation and contract "red-lining" (editing)
• Perform deep dive spend analysis to identify, assess and implement cost savings opportunities including issuance of RFPs and competitive events, supplier consolidation, commercial negotiations (volume discounts/ price reductions).
• Independently reviews and analyze contract asks, effectively communicates requirements and determines solutions and actions in response to contract asks.
• Serves as the direct point of contact for negotiations with contracting parties.
• Market research and benchmarking of suppliers and related service categories.
• Set up regular meetings with key partners to review and prioritize deal pipeline and identify engagement opportunities early.
• Serves as the direct point of contact for negotiations with contracting parties.

To be successful in this role, we're seeking the following:

• Bachelor's degree or equivalent combination of education and work experience required.
• Business or Supply Chain degree preferred. Advanced degree preferred.
• 5-10 years of total work experience preferred.
• bility to solicit and analyze multiple proposals, create corresponding business cases (including financial reports), and present clear recommendations.
• Effectively uses personal influence skills rather than authority to persuade others and gain support from senior leaders within global organizations.
• Financial modeling skills to build multiple negotiation scenarios, total cost of ownership models, consumption models, etc.
• Understanding of procurement and sourcing processes and practices for the specific categories preferred, demonstrated experience managing large, complex projects and spend categories preferred.
• 5+ years of negotiating complex SaaS / Software enterprise contracts with Financial Technology (FinTech) vendors either at a global banking institution OR at a FinTech vendor itself (negotiating with banking institutions)
• Some knowledge of Capital Markets use-cases - Custody, Payments, Asset Management, Wealth Management
• Some knowledge of FinTech landscape including some familiarity with blockchain solutions vendors
• Experience working at or negotiating with entities such as FIS Global, Broadridge, BlackRock (Aladdin), SS&C, Charles River, etc.

At BNY, our culture speaks for itself. Here's a few of our awards:

• America's Most Innovative Companies, Fortune, 2024
• World's Most Admired Companies, Fortune 2024
• Human Rights Campaign Foundation, Corporate Equality Index, 100% score, 2023-2024
• Best Places to Work for Disability Inclusion, Disability: IN - 100% score, 2023-2024
• "Most Just Companies", Just Capital and CNBC, 2024
• Dow Jones Sustainability Indices, Top performing company for Sustainability, 2024
• Bloomberg's Gender Equality Index (GEI), 2023

Our Benefits and Rewards:

BNY offers highly competitive compensation, benefits, and wellbeing programs rooted in a strong culture of excellence and our pay-for-performance philosophy. We provide access to flexible global resources and tools for your life's journey. Focus on your health, foster your personal resilience, and reach your financial goals as a valued member of our team, along with generous paid leaves, including paid volunteer time, that can support you and your family through moments that matter.

BNY is an Equal Employment Opportunity/Affirmative Action Employer - Underrepresented racial and ethnic groups/Females/Individuals with Disabilities/Protected Veterans.