About this role
Firm Overview:
BlackRock is one of the world’s preeminent asset management firms and a premier provider of global investment management, risk management and advisory services to institutional, intermediary and individual investors around the world. BlackRock offers a range of solutions — from rigorous fundamental and quantitative active management approaches aimed at maximizing outperformance to highly efficient indexing strategies designed to gain broad exposure to the world’s capital markets. Our clients can access our investment solutions through a variety of product structures, including individual and institutional separate accounts, mutual funds and other pooled investment vehicles, and the industry-leading iShares® ETFs.
Business Unit Overview:
BlackRock Finance consists of finance professionals in disciplines such as Financial Planning & Analysis, Treasury, Tax, Finance Controls, Sourcing and Vendor Management (“SVM”), Finance Platform Support and Controllers. SVM is a global team, with team members based in New York, Gurgaon, Budapest, London and various other European locations. SVM aims to be Trusted Strategic Sourcing Advisors enabling BlackRock to achieve more. The SVM team helps to negotiate agreements with its vendors to help achieve optimum value, identify and mitigate vendor risks and provides strategic advice to our clients. The SVM team aims to deliver cost reductions, deliver reliable analytical data for improved decision making, and enable a socially responsible and diverse supplier base.
Background
SVM seeks a seasoned professional in sourcing/procurement to lead the sourcing/contract life-cycle for the Marketing Category on behalf of the BlackRock.
The role requires leading a team of sourcing leads who facilitate the entire management of sourcing activities from understanding stakeholder needs, identifying appropriate solutions, strategy development, vendor assessment & due diligence, production of RFI/RFP documentation, proposal assessment & development of recommendation, contract term and price negotiation and overall stakeholder management. In addition, there may be an occasional requirement to process more volume driven BAU contracts & SOW’s in an efficient and effective manner.
Principal duties include:
- Leading a global team of sourcing professionals who facilitate the full strategic sourcing cycle, including vendor identification and selection, price negotiation, and contract “red-lining” (i.e. contract drafting and editing)
- Category planning and driving strategic sourcing initiatives across global stakeholders in Marketing and Corporate Affairs
- 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
- Development of strategic sourcing opportunities through competitive bidding, proof-of-concept, demand management, supplier consolidation, and process reengineering
- Understanding of the Marketing supplier base
- Knowledge of commercial and legal contract terms (e.g. liability, indemnification)
- Partnering with Third Party Risk, and Legal teams around the world in the negotiation of: Master Services Agreements, Master Hosted Services Agreements, Statements of Work, Service Level Agreements, 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 BlackRock.
- Provide strategic insight into global and regional marketplaces
- Lead a robust pipeline of sourcing projects in parallel with broader strategic projects
- Develop and consolidate market research and benchmarking of suppliers and related service categories
- Actively participate in continuous improvement activities to exceed customer expectations
- Actively participate in SVM projects and team activities
- Recruit, cultivate and manage high potential team members
- Coaching, mentoring, managing and developing junior staff members
Experience required:
- 8-10+ years of strategic sourcing experience at a consulting firm, technology organization, or financial services firm
- Category Planning and management experience
- Depth in drafting, negotiating and redlining global contracts. Strong understanding with contract law, being able to understand, interpret and articulate key legal terms in agreements.
- A passion for the marketing sector, including a comprehensive understanding of media agencies, creative agencies, and digital marketing
- Financial modelling skills to build multiple negotiation scenarios, total cost of ownership models, consumption models, and demand forecasts, etc.
- Strong experience with competitive bidding techniques (RFI, RFP, RFQ), analysis, creation of business cases, vendor selection, vendor risk due diligence, operations management, and vendor dispute/escalation management
- Demonstrated ability to concurrently manage a significant pipeline of deals/transactions simultaneously, while identifying and supporting strategic business transformation initiatives
- Proficient MS Office skills; particularly Word, Excel and Powerpoint
- Experience with a P2P system such as Coupa, Ariba, SAP desired
- Experience with reporting tools such as Tableau, Microsoft Power BI, SharePoint desired, but not required
Competencies:
- Strong written and spoken English language essential. Additional languages are a plus.
- Superior analytical skills- able to demonstrate superior quantitative and analytical capabilities, and the ability to translate analysis into tactics and results
- Strong communication skills and able to influence others through oral and written presentations. Able to persuade, motivate and compel support for key ideas and initiatives by delivering clear, well-structured presentations.
- Excellent internal and external negotiation skills
- Ability to influence persuade, motivate and elicit support for key initiatives from senior management and other key stakeholders, by building and delivering clear, well-structured presentations
- Proven ability to manage issues to resolution, negotiating compromises for overall business benefit when required
- Strong project management experience with ability to manage multiple projects with tight timelines
- Self-confident and decisive. A positive and ‘can-do’ attitude.
- Excellent attention to detail
- Ability to recognize and resolve problems
- Able to develop and maintain strong working relationships with internal stakeholders and vendors
- Ability to meet tight time schedules
- Some experience in managing, coaching, mentoring and developing Analysts and Associates within the team
- Willingness to handle repetitious assignments
- Flexibility in approach to working hours to meet business needs
Education Requirements:
- Bachelor’s Degree, with preferences for Supply Chain Management, Marketing, Communications, Entrepreneurship, Business Analytics, Economics, Innovation Management, Technology Management, Operations Research, Legal Studies, or Paralegal Studies
- Advanced degrees in Business, IT (CS, MIS, etc), Law, or Mathematics or related areas are also preferred
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 hybrid work model is designed to enable a culture of collaboration and apprenticeship that enriches the experience of our employees, while supporting flexibility for all. Employees are currently required to work at least 4 days in the office per week, with the flexibility to work from home 1 day a week. Some business groups may require more time in the office due to their roles and responsibilities. We remain focused on increasing the impactful moments that arise when we work together in person – aligned with our commitment to performance and innovation. As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience here at BlackRock.
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 @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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