Buyer, Sourcing at Edward Jones
Posted in General Business 16 days ago.
This job brought to you by eQuest
Location: St Louis, Missouri
At Edward Jones, we help clients achieve their serious, long-term financial goals by understanding their needs and implementing tailored solutions. To ensure a personal client experience, we have located our 14,000+ branch offices where our more than 7 million clients live and work. A typical branch office has one financial advisor who meets with clients face-to-face and one branch office administrator who enhances the team's ability to build deep relationships with clients. Headquarters associates in St. Louis and Tempe provide support and expertise to help U.S. and Canada branch teams deliver an ideal client experience. Edward Jones currently has more branch offices than any other financial services firm, and we continue to grow to meet the needs of long-term individual investors.
The The Buyer role consists of several responsibilities related to the negotiation of primarily routine purchases, managing vendors and reporting.
The Buyer is responsible for negotiating vendor contracts on behalf of business units, with a primary focus on low value and low complexity purchases. Negotiations include contract terms and pricing. This role requires the Buyer to work with the business unit to understand requirements for vendor engagements, along with Senior Sourcing Managers for routine purchases against complex contracts which have already been negotiated. This role requires an ability to build relationships within the Sourcing Office in order to execute objectives aligned with Sourcing Strategies specific to Business Unit plans.
Buyers must also possess the ability to manage certain supplier's performance and implement corrective action plans where necessary and as specified in the applicable legal documents. Buyers assist with the management of the supplier's performance and implement corrective action plans where necessary and as specified in the applicable legal documents. Buyers are required to forecast spend levels for each vendor program during planning and monitor spend throughout the year by managing expense codes for vendor programs and ensure compliance with expense management processes
Buyers compile and distribute standard reports, key measures and ad hoc reports for senior leaders. Applicant must be able to interpret the needs of report recipients in order to create deliverables which can assist leaders in making actionable decisions.
In the role, Buyers must:
- Lead the negotiation of commercial and contractual terms with executives and legal representatives.
- Execute on defined objectives aligned to Sourcing Strategies through the development and distribution of RFX's (RFI, RFQ, RFP), vendor communication, development of vendor selection criteria, and collaboration with cross-functional teams including business owners and legal.
Collaborate with requestors to finalize requirements for purchase requests involving vendors under management
- Collaborate with vendors to develop and execute viable solutions.
- Direct internal business owners towards the vendor solution which best meets the firm's needs while reducing/eliminating firm expense and risk.
- Partner with business areas to implement solutions
- Direct Edward Jones towards the vendor solution which best meets the firm's needs while reducing/eliminating firm expense and risk.
- Reconcile and approve invoices for specified firm wide programs. Monitor vendor quality and performance through feedback and reporting.
- Maintain accurate records and data within the contract management system and other related sourcing and expenditure management tools
- Use procurement tools and systems to create operational efficiency and visibility across the enterprise
- Negotiate the best contract terms and pricing for low risk initiatives
- Identify and pursue ad hoc opportunities to reduce product/service costs and support the implementation of operational improvement initiatives
This role has growth potential into a Sourcing Specialist role. Applicants must possess a passion for continuous learning and ability to build on foundational skills in order to progress into future roles.
- Bachelor's degree required.
- Requires a minimum of 2 years related work experience, preferably involving vendor management, negotiation, and/or contracts
- Strong people and project management / organizational development skills required
- Demonstrated ability to influence without authority and communicate upward are required.