Information Technology Senior Management Forum
Cost and Supplier Management Senior Manager
Information Technology Senior Management Forum, Charlotte, North Carolina, United States, 28245
Language Fluency:
English (Required)
Work Shift:
1st shift (United States of America)
Job Grade:
113
Job Profile Summary The Cost and Supplier Management Senior Manager leads a team of strategists and consultants focused on cost optimization and supplier management for TD&O Wholesale divisions, including Payments, Wealth, Investment Banking, Lending, Sales Enablement, Digital, Treasury, and Production Support.
Key Responsibilities
Oversee the TD&O Wholesale budget (Operate and Invest), ensuring financial discipline and transparency.
Develop and execute actionable expense savings plans.
Create and maintain financial plans for non-budgeted risk items.
Provide clear, timely updates to TD&O Wholesale leadership on financial status and progress.
Manage the Approval to Hire process for TD&O Wholesale.
Drive strategic cost and supplier initiatives to support business objectives across multiple divisions.
Candidate must be located in *or* willing to self-relocate to one of the following locations: Charlotte or Raleigh, NC; Atlanta, GA or Richmond, VA. Truist has 'in office' requirements that must be honored.
Truist will not sponsor an applicant for work visa status or employment authorization, nor will we offer any immigration-related support for this position.
ESSENTIAL DUTIES AND RESPONSIBILITIES Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.
Develop and execute a comprehensive cost and supplier management strategy that aligns with Truist’s business objectives and long-term growth plans.
Provide strategic leadership to the Supplier Management Managers and their teams, ensuring alignment with organizational goals and fostering a culture of excellence and innovation.
Collaborate with senior leadership to influence and support key business decisions related to supplier management and procurement strategies.
Oversee the management of all supplier relationships, ensuring that Supplier Management Managers effectively manage their teams and supplier engagements.
Ensure that supplier strategies are aligned with Truist’s objectives, including risk management, cost optimization, and performance improvement.
Monitor the overall effectiveness of the supplier management function, identifying areas for improvement and implementing necessary changes.
Lead the development and implementation of cost management strategies that drive efficiency and maximize value across the supply chain.
Oversee financial planning and budgeting related to supplier engagements, ensuring that cost objectives are met and financial risks are managed.
Work closely with the finance team to develop and monitor key financial metrics, ensuring alignment with Truist’s financial goals.
Establish and monitor key performance indicators (KPIs) to assess the effectiveness of supplier relationships and management strategies.
Lead initiatives to continuously improve supplier performance, including the development of advanced Service Level Agreements (SLAs) and performance evaluation frameworks.
Drive a culture of continuous improvement within the cost and supplier management function, encouraging innovation and the adoption of best practices.
Develop and implement comprehensive risk management strategies to mitigate risks associated with supplier relationships and ensure compliance with regulatory requirements.
Oversee the identification and management of potential risks, working closely with legal, compliance, and other relevant departments.
Collaborate with cross-functional teams, including procurement, finance, legal, and operations, to ensure a cohesive approach to supplier management and cost optimization.
Act as a senior advisor to internal stakeholders on supplier-related issues, providing strategic guidance and support.
Lead cross-functional initiatives aimed at enhancing the effectiveness of the supplier management function and driving organizational success.
Lead efforts to attract, develop, and retain top talent within the Cost and Supplier Management function, ensuring a strong pipeline of future leaders.
Provide mentorship and development opportunities to Supplier Management Managers and their teams, fostering a culture of learning and growth.
Implement succession planning initiatives to ensure the continuity of leadership and expertise within the function.
Prepare and present high-level reports on supplier performance, cost management, and strategic initiatives to executive leadership.
Ensure effective communication of supplier management strategies and outcomes across the organization, building support for key initiatives.
Maintain transparency and accountability within the cost and supplier management function, ensuring that all activities are aligned with Truist’s strategic goals.
Stay abreast of industry trends, emerging technologies, and market conditions that could impact Truist’s supplier management strategies.
Lead the integration of innovative approaches and technologies into the cost and supplier management function, driving competitive advantage.
Identify and capitalize on opportunities to enhance Truist’s supplier management framework through strategic innovation and market insights.
QUALIFICATIONS Required: Bachelor's degree and thirteen years of cost and supplier management experience with experience managing complex, IT vendor 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.
Preferred Qualifications Master’s degree or MBA and fifteen years of experience or an equivalent combination of education and work experience, including five years of management experience.
Banking or financial services experience.
Experience in leading large-scale complex projects from beginning to end.
OTHER JOB REQUIREMENTS / WORKING CONDITIONS Sitting: Constantly (More than 50% of the time)
Standing: Occasionally (Less than 25% of the time)
Walking: Occasionally (Less than 25% of the time)
Visual / Audio / Speaking: Able to access and interpret client information received from the computer and able to hear and speak with individuals in person and on the phone.
Manual Dexterity / Keyboarding: Able to work standard office equipment, including PC keyboard and mouse, copy/fax machines, and printers.
Availability: Able to work all hours scheduled, including overtime as directed by manager/supervisor and required by business need.
Travel: Up to 25%
General Description of Available Benefits for Eligible Employees of Truist Financial Corporation All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position. Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates. Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays. For more details on Truist’s generous benefit plans, please visit our Benefits site. Depending on the position and division, this job may also be eligible for Truist’s defined benefit pension plan, restricted stock units, and/or a deferred compensation plan. As you advance through the hiring process, you will also learn more about the specific benefits available for any non-temporary position for which you apply, based on full-time or part-time status, position, and division of work.
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English (Required)
Work Shift:
1st shift (United States of America)
Job Grade:
113
Job Profile Summary The Cost and Supplier Management Senior Manager leads a team of strategists and consultants focused on cost optimization and supplier management for TD&O Wholesale divisions, including Payments, Wealth, Investment Banking, Lending, Sales Enablement, Digital, Treasury, and Production Support.
Key Responsibilities
Oversee the TD&O Wholesale budget (Operate and Invest), ensuring financial discipline and transparency.
Develop and execute actionable expense savings plans.
Create and maintain financial plans for non-budgeted risk items.
Provide clear, timely updates to TD&O Wholesale leadership on financial status and progress.
Manage the Approval to Hire process for TD&O Wholesale.
Drive strategic cost and supplier initiatives to support business objectives across multiple divisions.
Candidate must be located in *or* willing to self-relocate to one of the following locations: Charlotte or Raleigh, NC; Atlanta, GA or Richmond, VA. Truist has 'in office' requirements that must be honored.
Truist will not sponsor an applicant for work visa status or employment authorization, nor will we offer any immigration-related support for this position.
ESSENTIAL DUTIES AND RESPONSIBILITIES Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.
Develop and execute a comprehensive cost and supplier management strategy that aligns with Truist’s business objectives and long-term growth plans.
Provide strategic leadership to the Supplier Management Managers and their teams, ensuring alignment with organizational goals and fostering a culture of excellence and innovation.
Collaborate with senior leadership to influence and support key business decisions related to supplier management and procurement strategies.
Oversee the management of all supplier relationships, ensuring that Supplier Management Managers effectively manage their teams and supplier engagements.
Ensure that supplier strategies are aligned with Truist’s objectives, including risk management, cost optimization, and performance improvement.
Monitor the overall effectiveness of the supplier management function, identifying areas for improvement and implementing necessary changes.
Lead the development and implementation of cost management strategies that drive efficiency and maximize value across the supply chain.
Oversee financial planning and budgeting related to supplier engagements, ensuring that cost objectives are met and financial risks are managed.
Work closely with the finance team to develop and monitor key financial metrics, ensuring alignment with Truist’s financial goals.
Establish and monitor key performance indicators (KPIs) to assess the effectiveness of supplier relationships and management strategies.
Lead initiatives to continuously improve supplier performance, including the development of advanced Service Level Agreements (SLAs) and performance evaluation frameworks.
Drive a culture of continuous improvement within the cost and supplier management function, encouraging innovation and the adoption of best practices.
Develop and implement comprehensive risk management strategies to mitigate risks associated with supplier relationships and ensure compliance with regulatory requirements.
Oversee the identification and management of potential risks, working closely with legal, compliance, and other relevant departments.
Collaborate with cross-functional teams, including procurement, finance, legal, and operations, to ensure a cohesive approach to supplier management and cost optimization.
Act as a senior advisor to internal stakeholders on supplier-related issues, providing strategic guidance and support.
Lead cross-functional initiatives aimed at enhancing the effectiveness of the supplier management function and driving organizational success.
Lead efforts to attract, develop, and retain top talent within the Cost and Supplier Management function, ensuring a strong pipeline of future leaders.
Provide mentorship and development opportunities to Supplier Management Managers and their teams, fostering a culture of learning and growth.
Implement succession planning initiatives to ensure the continuity of leadership and expertise within the function.
Prepare and present high-level reports on supplier performance, cost management, and strategic initiatives to executive leadership.
Ensure effective communication of supplier management strategies and outcomes across the organization, building support for key initiatives.
Maintain transparency and accountability within the cost and supplier management function, ensuring that all activities are aligned with Truist’s strategic goals.
Stay abreast of industry trends, emerging technologies, and market conditions that could impact Truist’s supplier management strategies.
Lead the integration of innovative approaches and technologies into the cost and supplier management function, driving competitive advantage.
Identify and capitalize on opportunities to enhance Truist’s supplier management framework through strategic innovation and market insights.
QUALIFICATIONS Required: Bachelor's degree and thirteen years of cost and supplier management experience with experience managing complex, IT vendor 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.
Preferred Qualifications Master’s degree or MBA and fifteen years of experience or an equivalent combination of education and work experience, including five years of management experience.
Banking or financial services experience.
Experience in leading large-scale complex projects from beginning to end.
OTHER JOB REQUIREMENTS / WORKING CONDITIONS Sitting: Constantly (More than 50% of the time)
Standing: Occasionally (Less than 25% of the time)
Walking: Occasionally (Less than 25% of the time)
Visual / Audio / Speaking: Able to access and interpret client information received from the computer and able to hear and speak with individuals in person and on the phone.
Manual Dexterity / Keyboarding: Able to work standard office equipment, including PC keyboard and mouse, copy/fax machines, and printers.
Availability: Able to work all hours scheduled, including overtime as directed by manager/supervisor and required by business need.
Travel: Up to 25%
General Description of Available Benefits for Eligible Employees of Truist Financial Corporation All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position. Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates. Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays. For more details on Truist’s generous benefit plans, please visit our Benefits site. Depending on the position and division, this job may also be eligible for Truist’s defined benefit pension plan, restricted stock units, and/or a deferred compensation plan. As you advance through the hiring process, you will also learn more about the specific benefits available for any non-temporary position for which you apply, based on full-time or part-time status, position, and division of work.
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