Job #: 1647
Title: Regulatory Analyst
Responsibility Summary: Develop and execute category management strategies in collaboration with key stakeholders across the entire vendor lifecycle; inclusive of sourcing, contracting and vendor management for HR products and services; such as employee benefits & insurance, relocation services, recruiting services, training services, consulting services, research & survey services, web development services and related technology enablers and services. Develop and support the short and long term sourcing plans and vendor strategies in partnership with primary stakeholders. Lead, manage and support cross functional teams throughout the sourcing, negotiations, contracting and vendor management processes. Collaborate and partner across various legal, compliance and risk mitigation departments to ensure adherence with respective policies and achievement of relevant contractual terms. Navigate and balance client vendor relationship and requirements.
Skillset & Competency Requirements
Strong prioritization skills and ability to manage issues to resolution
Strong organizational and time management skills and the ability to execute on multiple tasks simultaneously
Demonstrated analytical, financial, problem solving, organization, and project management skills
Combination of management consulting & line role experience desired
Advanced comprehension of applicable regulatory requirements, data security, privacy and risk mitigation terms, along with a proven ability to lead, support and conduct successful negotiations
Expert understanding of contract terms and techniques for driving additional value and managing risks. Proven ability to support, lead and conduct successful negotiations
Solid understanding of core elements of information technology environments including infrastructure, applications development/maintenance, service desk, etc.
Experience with purchasing systems and organizational interfaces (including e-procurement, Ariba, SAP and e-RFP tools). Proficiency in Microsoft applications: Excel, Word, PowerPoint and Access
Experience with Supplier Management tools (SRM, conducting Quarterly Business Reviews, etc.)
Provide sourcing category expertise for HR products and services
Develop category strategies based on rigorous analysis of spend data, supply market dynamics, category intelligence, and business requirements
Partner with the business to build influence, evaluate and challenge the status quo. Identify and obtains buy-in for category strategies
Identify and capture cost improvement opportunities beyond sourcing, such as demand management, process improvements, insource vs. outsource, innovation, etc.
Regularly monitors the market for category leading practices and demand/supply shifts such as supply consolidation, technology innovations, etc.
Execute strategic sourcing projects using common sourcing practices to deliver exceptional total value in partnership with key stakeholders across the business
Gathers stakeholder and subject-matter expertise/insights and market intelligence to ensure sourcing solutions meet business needs. Assess supplier capabilities and identify new suppliers
Analyze supplier proposals and facilitate fact-based supplier selection process
Leverage market data, external expert resources, spend analytics, and cost modeling to drive fact based decision making.
Prepare and present business cases and should-cost models; performs complex data analysis and build financial models (i.e. ROI, NPV, supplier scorecards, savings tracking, make vs. buy decision models)
Analyze and summarize RFP responses and results and prepare recommendations for Senior Management. Develop and execute negotiation strategies to maximize total value and minimize risks
Work with legal to ensure proper representation and enforcement of critical terms and conditions
Ensure savings are delivered in a timely manner and achieve realization of expected benefits
Drive continuous improvements
Support supplier diversity and sustainability goals
Supplier Relationship Management
Establish and manage the governance processes with key suppliers and outsourced partners for categories in scope
Implement strategies to best manage the supply base for categories in scope, reviewing suppliers against contracted obligations/service levels, risk requirements & business expectations
Provide feedback on performance, seek continuous improvement and innovation
Work with suppliers and key stakeholders to manage supplier performance and develop new capabilities
Build and maintain strong relationships with third party providers
When performance issues emerge, identify root causes and work with internal and external stakeholders to drive efficient resolution
Work with stakeholders post projects to identify continuous improvement initiatives.
Identify costs drivers to increase cost awareness and influence cost consciousness.
Identify, oversee, pursue and manage re-engineering, value engineering and demand management opportunities to enhance operational effectiveness, interfacing with cross-functional teams
Develop implementation and transition plans acting as a change agent. Implement and drives procurement strategy, policies and procedures. Enforce compliance to procurement policies and ensure adoption
BS/BA degree with relevant discipline
MBA and other relevant degree /certification highly desirable.
7+ years of relevant strategic sourcing experience demonstrating success in positions of increasing complexity