Sourcing Manager

Job Summary:
Manages sourcing plans and activities for assigned product category from inception to completion. Works closely with line-of-business category owners in the negotiation of contacts. Leverages current and future business requirements, market intelligence and historical spend information as guidance in contract negotiations. Provides management with periodic reviews of spend reports, savings reports, and industry analyses. Develops category strategies that drive a simplified supply base, business value and cost reductions/savings. Works with line-of-business category owners regarding contract negotiations, and planning.

Job Duties and Responsibilities:

• Works with business unit management or line-of-business (LOB) category owner to identify procurement needs and objectives including requirements and expectations around schedules, statements of work, and service level agreements. Ensures all business requirements are addressed in final contract or agreement.
• Manages, drafts and negotiates contracts and agreements in accordance with established policies and procedures and utilizing industry best practices. Identifies and recommends savings to improve overall financial returns to the line-of-business and Pinnacle while balancing quality, and contracting goals. Works closely with risk partners including Legal, Compliance, Risk, and Information Security in negotiating contracts and in managing and outsourcing risk.
• Researches and develops sources of supply for assigned categories. Creates and continuously refines sourcing strategies to optimize supplier base including supplier consolidation and standardization opportunities. Evaluates price trends, new products, service levels and processes.
• Works with Procurement team members in the development of strategic sourcing plans and pipelines looking ahead one to two years. Works closely with Procurement Department team members in the evaluation of suppliers and the development of supplier selection criteria for each spend category as part of the overall procurement and business partner management strategy.
• Maintains business partner relations and serves as a liaison between Pinnacle and suppliers for resolution of problems. Develops and reviews performance data with suppliers to implement continuous cost and quality improvements. Initiates corrective actions in the event of missed expectations.
• Develops and refines sourcing processes, tools and templates that can be applied across all business partners and categories. Recommends systems and processes improvements to increase contract effectiveness. Maintains knowledge of industry trends and best practices.
• Each team member is expected to be aware of risk within their functional area. This includes observing all policies, procedures, laws, regulations and risk limits specific to their role. Additionally, they should raise and report known or suspected violations to the appropriate Company authority in a timely fashion.
• Meet all the client's financial needs, both business and personal, and refer clients to other specialty areas such as Trust, Investments, Insurance, Treasury Management, etc. as appropriate.
• Assist other team members as needed to ensure delivery of distinctive service.
• Performs other related duties as required.