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Associate, Procurement & Sourcing

Employer
BlackRock
Location
New York, USA
Salary
Competitive
Closing date
Feb 26, 2023

View more

Job Function
Banking
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Description

About this role

Overview:

Sourcing and Vendor Management's (SVM) three main objectives are to ensure BlackRock gets the best value from the annual spend through its vendors, to engage and actively manage its external vendors in a consistent manner and to ensure it manages the risks associated with buying services.

The BlackRock Sourcing and Vendor Management Organization in Finance seeks highly motivated candidates to support the strategic sourcing and procurement activities across all its indirect categories. Candidates with strategic sourcing experience related to negotiating and managing professional service contracts (audit/ tax with the Big 4 accounting firms), human resources, technology, enterprise, and marketing services vendors are encouraged to apply.

Principal duties include:
  • Assist in the development and management of strategic sourcing opportunities through the introduction of a competitive bidding, proofs-of-concept, demand management, supplier consolidation, and process reengineering
  • Facilitate the strategic sourcing cycle, including vendor identification and selection, price negotiation, and contract "red-lining"
  • Contractual knowledge of commercial and legal terms (i.e. liability, indemnification)
  • Partner with Category Leads, Vendor Risk, and Legal teams in the negotiation of: Master Services and Hosted Agreements (MSA/MHSA's), Statements of Work (SOWs), Audit and Fund Engagements, Service Level Agreements (SLAs), Facility Management, Benefit contracts, etc.
  • Think and act globally to collaborate effectively on a cross-functional basis. Align the business unit, local, regional and global organization to maximize achievement of sourcing objectives and continuity of supply to position sourcing as a competitive advantage for the Company
  • Depth in negotiating deals with non-IT consulting and accounting firms; creative, media and digital marketing agencies and other specific sub-categories in the relative space.
  • Support the Category Manager ensuring the value of engaging SVM is understood by key internal stakeholders - such as championing the benefits of best-in-class strategic sourcing principles and practices and the importance of appropriate supplier relationships to ensure sustainability.
  • Support a robust pipeline of projects in parallel with broader strategic projects
  • Develop market research and benchmarking of suppliers and related service categories


Knowledge/ Experience required:
  • 5+ years of strategic sourcing and category planning experience within the indirect procurement landscape
  • Experience with competitive bidding techniques (RFI, RFP, RFQ), vendor selection, vendor risk due diligence, operations management, and vendor dispute/escalation management.
  • A passion for the indirect procurement sector including a developed understanding of market drivers, trends, and dynamics.
  • Ability to establish strong working relationships with internal stakeholders and external organizations.
  • Strong communication and personal influence skills - as evidenced by examples that demonstrate an ability to influence others through oral and written presentations.
  • Financial modelling skills so as to build multiple negotiation scenarios, total cost of ownership models, demand management models, consumption models, etc.
  • Relevant experience in drafting and redlining MSAs, EL's, SOWs and SLAs.
  • Excellent internal and external negotiation skills as well as the ability to negotiate concessions from suppliers with the internal client's interests in mind.
  • Demonstrated ability to concurrently manage a pipeline of multiple projects simultaneously
  • Strong MS Office skills; particularly Excel and PowerPoint. Working experience with Coupa, Tableau, SharePoint and P2P platforms desired, but not required.
  • Be able to produce clear and concise documents / reports to explain the background, key points, findings and recommendation(s), etc.
  • Must have attention to detail and a track record of successful analytical decision-making.
  • Minimum of Bachelor's degree or equivalent.


For New York City only: The salary range for this position is $104,500 - $120,000. Additionally, employees are eligible for an annual discretionary bonus, and benefits including heath care, leave benefits, and retirement benefits. BlackRock operates a pay-for-performance compensation philosophy and your total compensation may vary based on role, location, and firm, department and individual performance.

Our benefits

To help you stay energized, engaged and inspired, we offer a wide range of benefits including a strong retirement plan, tuition reimbursement, comprehensive healthcare, support for working parents and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.

Our hybrid work model

BlackRock's current hybrid work model is designed to enable in-person connections and collaboration that is core to our culture, while supporting increased flexibility for all employees. In line with local health guidance and regulations, employees are required to work at least 3 days in the office each week, with the flexibility to work from home up to 2 days a week. Some business groups may require more time in the office due to their roles and responsibilities. The health, safety and well-being of our people will always be our top priorities; we will continue to monitor local conditions and health advisories in making decisions about our work environments.

About BlackRock

At BlackRock, we are all connected by one mission: to help more and more people experience financial well-being. Our clients, and the people they serve, are saving for retirement, paying for their children's educations, buying homes and starting businesses. Their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress.

This mission would not be possible without our smartest investment - the one we make in our employees. It's why we're dedicated to creating an environment where our colleagues feel welcomed, valued and supported with networks, benefits and development opportunities to help them thrive.

For additional information on BlackRock, please visit careers.blackrock.com | www.blackrock.com/corporate | Instagram: @blackrock | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock

BlackRock is proud to be an Equal Opportunity and Affirmative Action Employer. We evaluate qualified applicants without regard to race, color, national origin, religion, sex, sexual orientation, gender identity, disability, protected veteran status, and other statuses protected by law.

BlackRock will consider for employment qualified applicants with arrest or conviction records in a manner consistent with the requirements of the law, including any applicable fair chance law.

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