Contract Negotiator, Sourcing at Edward Jones
Posted in General Business 30+ 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 Sourcing Specialist is responsible for negotiating vendor contracts on behalf of business units, with a primary focus on low-to-medium value and moderately complex sourcing initiatives. Negotiations include contract terms (e.g. Indemnification, Limitation on Liability, Confidentiality provisions, etc.) and pricing. This role is responsible for partnering with business units to develop an understanding of their needs for vendor engagement and support projects which require vendor relationships. This role requires the Sourcing Specialist to coordinate with various business units to understand requirements for new projects, as well as firm-wide impacts associated with initiatives. The Sourcing Specialist must possess an emerging level of systems thinking and analytical capabilities. These skills will be employed to identify, communicate, and implement supply-base opportunities to achieve the best solution for the firm through a mix of cost savings, cost avoidance, and risk mitigation strategies. This role requires an ability to build relationships within cross-functional teams, communicate effectively, and develop plans to drive progress across sourcing initiatives.
In this role, the Sourcing Specialist must:
- Lead multiple, concurrent sourcing initiatives in a cross-functional team environment that will include strategy, vendor selection, market intelligence, vendor and product viability and contract execution.
- Lead the negotiation of commercial and contractual terms with executives and legal representatives.
- Direct Senior Leaders towards the best purchasing decision by balancing solution cost with business requirements.
- 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.
- Maintain accurate records and data within the contract management system and other related sourcing tools
- Use procurement tools and systems to create operational efficiency and visibility across the enterprise
- Identify and pursue ad hoc opportunities to reduce product/service costs and support the implementation of operational improvement initiatives
Applicants must possess a passion for continuous learning and ability to coach others within the department.
- Bachelor's degree required.
- Requires a minimum of 4 years related work experience, preferably involving negotiation and contracts
- Understanding of Supply Chain management concepts and procedures
- Understanding of legal and contracting environments
- Understanding of operating environments of areas such as Finance, HR, Marketing, Information Systems.
- Ability to identify and avoid potential conflict of interest to ensure ethical business standards and practices are followed.
- Ability to communicate cost models, risk, and business concepts at the executive levels throughout the firm and with any given vendor
- People and project management / organizational development skills required
- Demonstrated ability to influence without authority and communicate upward and across divisions are required.