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The Bancorp · 23 hours ago

VP Sourcing and Procurement (Hybrid)

Greater Sioux Falls Area

Full-time

Hybrid

Senior Level, Lead/Staff

8+ years exp

The Bancorp is a financial services company seeking a VP Sourcing and Procurement to provide strategic leadership in sourcing and procurement functions. This role involves developing global sourcing strategies, managing vendor relationships, and ensuring compliance while achieving cost savings and high service delivery standards.

BankingFinanceFinancial ExchangesFinancial ServicesPayments

Hiring Manager

Copeland Bain

Responsibilities

Manages vendor relationships, specifically IT vendors, to ensure a quality and cost-effective IT purchasing function. Works with business line owners to manage each relationship, ensuring that multiple departments use similar vendors to obtain the best pricing and services for the organization. Consolidates vendor services as needed with internal business heads

Prepares strategic purchasing plans with business leaders. Discusses multi-year strategies and develop and manage policies and procedures related to the procurement of IT and other goods and services and as well as the management of existing vendor relationships

Delivers executive summaries and presentations to senior leadership detailing cost, quality, and service delivery, analyzing gaps and opportunities at the corporate level and making recommendations

Selects company product and service providers based on vendor analysis. Researches and interviews suppliers. Evaluates vendor quotes and services to determine most desirable suppliers. Provides recommendations to senior leadership

Negotiates pricing to ensure products and services are purchased

Manages vendor performance and productivity identifying, tracking, and reporting on appropriate metrics. Develops and evaluates effectiveness of the VMO in supporting IT services and suppliers

Provides advice and guidance to managers and executives regarding purchasing and vendor assessment standards and processes. Ensures third party vendor controls are in place for items such as vendor diversity and system/IT purchases

Monitors contract renewal, expiration, and pricing dates. Develops contractual standards. Manages contract repository to ensure contracts are current and follow up as critical contract dates approach

Leads the contract renewal and associated administrative processes. Facilitates the resolution of issues by working with internal partners to resolve outstanding terms and conditions and ensure that the contract approval and signatures are obtained. Facilitates and schedules meetings with the relevant parties to provide timely resolutions

Manages RFP’s in response to requests from business lines and partners

Monitors third party vendor performance against contractual requirements to ensure service level agreements are being met. Follows up with vendors and internal teams

Performs other duties as assigned

Qualification

SourcingProcurementVendor ManagementContract ManagementAnalytical SkillsMicrosoft Office SuiteAttention to DetailDecision-Making SkillsCommunication SkillsTeam Player