Strategic Sourcing Manager
Princeton, New Jersey, United States
Job Summary
Occupation
Transportation and Logistics
Specialty
Sourcing Manager
Location
08054, Mount Laurel, New Jersey, United States
Visa Sponsorship
No
Job Description
Last Update:
1/11/24
400135BR
Procurement & Sourcing
Mount Laurel, NJ
February 17, 2023
Company Overview
About TD Bank, Americas Most Convenient Bank®
TD Bank, Americas Most Convenient Bank, is one of the 10 largest banks in the U.S., providing over 9.8 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Auto Finance, a division of TD Bank, N.A., offers vehicle financing and dealer commercial services. TD Bank and its subsidiaries also offer customized private banking and wealth management services through TD Wealth®. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.td.com/us. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US and www.twitter.com/TDNews_US.
TD Bank, Americas Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol TD. To learn more, visit www.td.com.
We offer a competitive salary and benefit program, including: comprehensive, affordable health care through medical, dental, and vision coverage; financial security with life and disability insurance; opportunities to save using health savings and flexible spending accounts; retirement benefits to help prepare for the future; paid time off and work/life benefits to maintain a good balance.
Department Overview
TD Bank Business Group spends around $8B each year with vendors. Strategic Sourcing Groups (SSG) role, in collaboration with our business partners, is to create sustainable competitive advantage for TDBG by leveraging this third party spend and the expertise of our key suppliers to meet our needs, reduce total cost, and mitigate supply-related risks.
Our role is global in scope and we have just embarked on a journey to transform the way we do sourcing, purchasing and vendor management within our department and more broadly across the organization.
Our team is comprised of ~200 people who are in various TDBG locations across North America.
Business Operations, Strategic Sourcing, lead the optimization of TDs spend for goods and services, while protecting the Bank from unnecessary risk through close collaboration with business stakeholders, Third Party Risk Management (TPRM) as well as the various enterprise risk partners (e.g., Legal, Enterprise Protect, Privacy). The Business Operations Sourcing team is accountable for the overall procurement of Human Resources, Marketing, Travel, Real Estate, Insurance Claims and Operations categories across TD
Job Description
Manages the Analytics and Reporting team focusing on the U.S. environment of SSG, assigning responsibilities and
evaluating results; provides leadership, coaching, counseling and guidance to staff
Develops, assigns and monitors plans to ensure completion of goals and objectives
Resolves escalated issues and problems by conferring with internal and external stakeholders as necessary
Manages key relationships with internal (e.g. sourcing teams) and external stakeholders (e.g. U.S. Finance) for effective
performance metrics and sourcing reporting
Supports and participates in the development and implementation of Knowledge Management deliverables into the US
environment
Proactively tracks and reports sourcing savings against SSG savings targets in support of the close management of SSGs
performance progress
Supports tracking of contract value realization, and promotes business compliance to regulatory requirements and Company
polices and guidelines
Manages preparation of high quality reporting and applicable commentaries on supplier spend, sourcing savings and
management performance metrics
Ensures close collaboration with U.S. Finance in working to convert cash savings into P&L saves
Supports supplier spend analysis collaborating with Sourcing teams, business and Finance to identify material savings
opportunities for the Bank
Monitors and/or analyzes closely a targeted set of supplier spend data in support of building out the sourcing category focus
for SSG
Ensures effective validation of sourcing protocol reports and savings models and methodology, as well as baseline verification for accurate reporting of sourcing savings
Protects TD Banks interest by escalating and/or resolving pertinent issues
Responsible for supplier spend and savings analytics and reporting for sourcing initiatives primarily focusing on our U.S. spend
Works closely and collaboratively with the Canadian Analytics and Reporting team for overall reporting of TDs North American sourcing activities
sourcing activities
Develops key performance metrics for the U.S. SSG teams collaborating with the Canadian Team for a North American SSG view
Supports management requests for reporting based on various performance measures/data within the sourcing environment
Develops appropriate communication plans and actions to support internal and external partners for reporting requirements
Ensures processes are in place to provide credible data for analysis and measurement purposes
Manages the research and analysis of new reporting requirements
Monitors actual results and proactively highlight reporting exceptions to management
Oversees measurement and reporting of client satisfaction levels for SSG in support of managing relationship with business partners
Provides data extracts, queries and analytical support to internal and external stakeholders as required
Participates in delivery of applicable Knowledge Management functions to the SSG teams in the US
Requirements
4 Year Degree or equivalent experience
3-5 Years of related sourcing experience
Excellent financial analysis and management reporting skills
Ability to analyze large volume of information and financial data to develop concise findings for recommendation to
stakeholders and/or management
Excellent verbal and written communication skills
Strong mind set of value add contribution and continuous process improvement
Ability to work in a dynamic changing environment
Proficiency of Microsoft Office Suite of tools
Good working knowledge of other database software including Microsoft Access
Knowledge in procurement systems (e.g. Accounts Payable) and experience with supplier spend/relationship are an asset
Hours
40
Inclusiveness
At TD, we are committed to fostering an inclusive, accessible environment, where all employees and customers feel valued, respected and supported. We are dedicated to building a workforce that reflects the diversity of our customers and communities in which we live in and serve, and creating an environment where every employee has the opportunity to reach their potential.
If you are a candidate with a disability and need an accommodation to complete the application process, email the TD Bank US Workplace Accommodations Program at USWAPTDO@td.com . Include your full name, best way to reach you, and the accommodation needed to assist you with the application process.
EOE/Minorities/Females/Veterans/Individuals with Disabilities/Sexual Orientation/Gender Identity.
Procurement & Sourcing
Mount Laurel, NJ
February 17, 2023
Company Overview
About TD Bank, Americas Most Convenient Bank®
TD Bank, Americas Most Convenient Bank, is one of the 10 largest banks in the U.S., providing over 9.8 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Auto Finance, a division of TD Bank, N.A., offers vehicle financing and dealer commercial services. TD Bank and its subsidiaries also offer customized private banking and wealth management services through TD Wealth®. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.td.com/us. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US and www.twitter.com/TDNews_US.
TD Bank, Americas Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol TD. To learn more, visit www.td.com.
We offer a competitive salary and benefit program, including: comprehensive, affordable health care through medical, dental, and vision coverage; financial security with life and disability insurance; opportunities to save using health savings and flexible spending accounts; retirement benefits to help prepare for the future; paid time off and work/life benefits to maintain a good balance.
Department Overview
TD Bank Business Group spends around $8B each year with vendors. Strategic Sourcing Groups (SSG) role, in collaboration with our business partners, is to create sustainable competitive advantage for TDBG by leveraging this third party spend and the expertise of our key suppliers to meet our needs, reduce total cost, and mitigate supply-related risks.
Our role is global in scope and we have just embarked on a journey to transform the way we do sourcing, purchasing and vendor management within our department and more broadly across the organization.
Our team is comprised of ~200 people who are in various TDBG locations across North America.
Business Operations, Strategic Sourcing, lead the optimization of TDs spend for goods and services, while protecting the Bank from unnecessary risk through close collaboration with business stakeholders, Third Party Risk Management (TPRM) as well as the various enterprise risk partners (e.g., Legal, Enterprise Protect, Privacy). The Business Operations Sourcing team is accountable for the overall procurement of Human Resources, Marketing, Travel, Real Estate, Insurance Claims and Operations categories across TD
Job Description
Manages the Analytics and Reporting team focusing on the U.S. environment of SSG, assigning responsibilities and
evaluating results; provides leadership, coaching, counseling and guidance to staff
Develops, assigns and monitors plans to ensure completion of goals and objectives
Resolves escalated issues and problems by conferring with internal and external stakeholders as necessary
Manages key relationships with internal (e.g. sourcing teams) and external stakeholders (e.g. U.S. Finance) for effective
performance metrics and sourcing reporting
Supports and participates in the development and implementation of Knowledge Management deliverables into the US
environment
Proactively tracks and reports sourcing savings against SSG savings targets in support of the close management of SSGs
performance progress
Supports tracking of contract value realization, and promotes business compliance to regulatory requirements and Company
polices and guidelines
Manages preparation of high quality reporting and applicable commentaries on supplier spend, sourcing savings and
management performance metrics
Ensures close collaboration with U.S. Finance in working to convert cash savings into P&L saves
Supports supplier spend analysis collaborating with Sourcing teams, business and Finance to identify material savings
opportunities for the Bank
Monitors and/or analyzes closely a targeted set of supplier spend data in support of building out the sourcing category focus
for SSG
Ensures effective validation of sourcing protocol reports and savings models and methodology, as well as baseline verification for accurate reporting of sourcing savings
Protects TD Banks interest by escalating and/or resolving pertinent issues
Responsible for supplier spend and savings analytics and reporting for sourcing initiatives primarily focusing on our U.S. spend
Works closely and collaboratively with the Canadian Analytics and Reporting team for overall reporting of TDs North American sourcing activities
sourcing activities
Develops key performance metrics for the U.S. SSG teams collaborating with the Canadian Team for a North American SSG view
Supports management requests for reporting based on various performance measures/data within the sourcing environment
Develops appropriate communication plans and actions to support internal and external partners for reporting requirements
Ensures processes are in place to provide credible data for analysis and measurement purposes
Manages the research and analysis of new reporting requirements
Monitors actual results and proactively highlight reporting exceptions to management
Oversees measurement and reporting of client satisfaction levels for SSG in support of managing relationship with business partners
Provides data extracts, queries and analytical support to internal and external stakeholders as required
Participates in delivery of applicable Knowledge Management functions to the SSG teams in the US
Requirements
4 Year Degree or equivalent experience
3-5 Years of related sourcing experience
Excellent financial analysis and management reporting skills
Ability to analyze large volume of information and financial data to develop concise findings for recommendation to
stakeholders and/or management
Excellent verbal and written communication skills
Strong mind set of value add contribution and continuous process improvement
Ability to work in a dynamic changing environment
Proficiency of Microsoft Office Suite of tools
Good working knowledge of other database software including Microsoft Access
Knowledge in procurement systems (e.g. Accounts Payable) and experience with supplier spend/relationship are an asset
Hours
40
Inclusiveness
At TD, we are committed to fostering an inclusive, accessible environment, where all employees and customers feel valued, respected and supported. We are dedicated to building a workforce that reflects the diversity of our customers and communities in which we live in and serve, and creating an environment where every employee has the opportunity to reach their potential.
If you are a candidate with a disability and need an accommodation to complete the application process, email the TD Bank US Workplace Accommodations Program at USWAPTDO@td.com . Include your full name, best way to reach you, and the accommodation needed to assist you with the application process.
EOE/Minorities/Females/Veterans/Individuals with Disabilities/Sexual Orientation/Gender Identity.