Senior Procurement Specialist

Bank of America - Riverside, RI

Full-time | Contract
Job Description:
Job Description

This role supports the procurement needs of Bank of America's Legal department. As Senior Procurement Specialist, you will be responsible for supporting Legal's category strategies (e.g. eDiscovery, Litigation Consultant Experts, Transfer Agent and Shareholder Records, etc.) and negotiating vendor deals and projects from inception to completion. This includes leveraging current and future business requirements, market intelligence, and historical spend information to develop specific deal negotiation strategies that optimize the vendor base, creates business value and reduces risk. The Senior Procurement Specialist should understand Bank of America's end-to-end third party program and enforces Business compliance to that program.

Proficient with understanding and driving adherence of procurement category strategies to achieve business goals and objectives
Manage a 12-18 month pipeline of contract aligned to Bank of America's legal services
Able to lead a team in the development of a negotiation approach, create RFP proposal documents (technical, contractual, schedule and cost), and drive analysis of proposal responses/overall evaluation of service providers
Negotiates contracts utilizing best practices, assists the business owner in creating business requirements including Schedules/ Statement of Works and Service Level Agreements, providing clarity and addressing all Business requirements
Comfortable with legal contract concepts (Limitation of Liability, Indemnification) and able to drive negotiation acceptance of Bank of America’s required language with those terms
Work routinely with risk partners (Legal, Compliance, Ops, Info Sec, etc.) in negotiating deals and in managing outsourcing risk
Consistently provides a high level of service by establishing and clearly communicating mutual expectations, developing an understanding of business needs and demonstrating competency and consistency in meeting commitments
Builds broad-based business relationships and partnerships across the organization, skillfully influences peers and colleagues to promote and sell ideas, and proactively surfaces and resolves conflict with minimal noise
Ability to communicate, partner, and influence across a matrixed organization
Identify and escalate risks and issues to the appropriate governance routines
Analyze and determine adherence to Bank of America’s Third Party Program
Required Skills

5+ years of experience sourcing for various indirect procurement categories (Legal services categories a plus)
Four-year college degree
Strong contract negotiation skillset and experience
Strong business acumen and ability to connect market intelligence to actionable procurement tactics
Self-starter, with capability of working autonomously across multiple procurement projects is essential
Proactive, conscientious and high level of attention to detail
Proficient with Sourcing systems (ideally Ariba)
Excellent communicator and able to build and manage relationships with business partners across various teams

Desired Skills:
Previous experience within the Financial Services Industry preferred
Legal Services category management experience and/or strategic sourcing experience preferred

1st shift (United States of America)

Hours Per Week: