Sourcing Associate
Wells Fargo
About this role:
Wells Fargo is seeking a Sourcing Associate. We believe in the power of working together because great ideas can come from anyone. Through collaboration, any employee can have an impact and make a difference for the entire company. Explore opportunities with us for a career in a supportive environment where you can learn and grow.
In this role, you will:
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· Develops Strategic Sourcing strategies and lead contract negotiations for medium to high risk products / services.
· Experience on multiple categories preferably IT & Telecom.
· Well versed with contract principles and drafts non-standard contract terms and conditions
· Review, draft and negotiate Master Agreements, Statement of Works, Change Orders, Amendments and similar contracts
· Research vendor contracts to identify existing relationships, rights, risks and obligations
· Proactively identifies and analyzes cost savings opportunities.
· Support RFx activities including selection criteria
· Identifies and escalates risk-related issues and identifies alternative options/solutions.
· Partner with business groups to issue/evaluate RFx opportunities and conduct reverse auctions.
· Establishes supplier evaluation/selection criteria and coordinates supplier due diligence activities.
· Maintains current status and engagement information related to active engagements in Strategic Sourcing systems.
· Ensures meeting all internal policies pertaining to contracts
· Ensure contracts clearly specify the right and responsibilities of each party to the contract
· Ensures compliance with legal and regulatory requirements such as data protection including customer supervisory information (CSI), Gramm-Leach-Bliley Act (GLBA) to protect customer personal information, etc.
· Conduct Quality Check on transactional documents
Required Qualifications:
- 6+ months of Sourcing experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
Desired Qualifications:
· Strong Communication and Interpersonal skills.
· Excellent networking and negotiation skills
. Ability to structure and communicate decisions to senior management
Job Expectations:
· Experience of more than 6+ years in Supply Chain Management.
· Exposure to IT and Telecom category.
· Knowledge of contract drafting and negotiating vendor legal terms and conditions
· Strong Experience in negotiation of commercial terms.
· Cross-category experience is preferred.
Posting End Date:
23 Jan 2025*Job posting may come down early due to volume of applicants.
We Value Diversity
At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.
Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.
Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.
Applicants with Disabilities
To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo.
Drug and Alcohol Policy
Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.
Wells Fargo Recruitment and Hiring Requirements:
a. Third-Party recordings are prohibited unless authorized by Wells Fargo.
b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.