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IT Procurement & Sourcing, VP at State Street in Quincy, Massachusetts

Posted in General Business 30+ days ago.

Type: Full-Time





Job Description:

Who we are looking for

Reporting into the Head of IT Sourcing the VP of Software Sourcing is a strategically important role within State Street’s Global Procurement Team with responsibility for the Management of the Software Sourcing Team. 

The software sourcing team comprises of 13 individuals (globally) and is responsible End to End Sourcing of Software including the preparation, analysis, negotiation and finalization of the end-to-end Procurement process with a focus on software or SaaS categories. This sourcing manager will support/be a part of the global category software sourcing strategies.

Why this role is important to us

The team you will be joining plays an important role in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. To make that happen we need teams like yours to help navigate employees and the organization as a whole. In your role you will strive for cutting-edge solutions, that are straightforward and scalable. You will help us build resilience and execute day to day deliverables at our best. 

Join us if making your mark in the financial services industry from day one is a challenge you are up for.

What you will be responsible for

As IT Sourcing, VP you will


  • Leadership skills with proven experience of leading a Global Software Sourcing Function with a track record of large strategic project delivery and cost saving execution:

    • Hiring and Retaining key Talent

    • Team development including training and development of the team

    • Driving bottoms up planning and long term strategy execution

    • Instilling a TCO mindset



  • Understanding of the Global Software market dynamics and demonstrating sound business judgement

  • Track record of client engagement at a senior level up to and including the C Suite, in addition:

    • Providing a white glove approach in client management to provide advice and guidance within software sourcing

    • Able to constructively challenge where necessary and influence where necessary



  • Lead by example.  Able to perform direct negotiations and manage sometimes large and complex agreements including:

    • Solution requests and issues timely, and perform daily problem solving

    • Identify and execute saving opportunities via stakeholder engagement and data analysis

    • Negotiate pricing using the five levers that incentivize a supplier

    • Identify risks and opportunities related to achieving financial objectives; work with process partners to mitigate risks and realize opportunities

    • Heavily contribute to P&L and Cost Avoid savings for the team 

    • Analyze data to identify opportunities to reduce existing cost base

    • Working with the State Street Rfx function coordinate, prepare and manage RFx/competitive bids to optimize cost and service

    • Use a white glove approach in stakeholder management to provide advice and guidance within software sourcing but always prepared to challenge the status quo

    • Performs all duties in accordance with prescribed regulatory compliance guidelines

    • Quickly learn the State Street end to end process, and work within the guidelines to gain saving and delivery results

    • A strong understanding of all facets of software models (on prem, cloud – SaaS/PaaS/IaaS, perpetual, subscription, importance of maintenance levels, etc.)



Education & Preferred Qualifications


  • 10 – 15 years strategic sourcing experience in IT Software is a must

  • A minimum of 5 years’ Global experience

  • Bachelor’s Degree in business or technology-related field preferred

  • Ability to create software sourcing strategies and independently collect data

  • Proven track record of delivering substantial, double digit P&L saving projects

  • Top level software commercial negotiation skills with ability to influence cross-functionally

  • Prior in-depth experience negotiating with top technology vendors like Oracle, Microsoft, IBM, Citrix and Red Hat

  • Proven self-starter who can work independently and within a team while effectively juggling multiple priorities

  • Understanding of best in class procurement, risk, Information Security and payable processes

  • Personal resilience to work within an extremely fast-paced, ambiguous environment

  • Strong strategic thinker and problem solver with attention to detail

  • Established written and verbal communication skills

  • Ability to manage and influence challenging stakeholders

About State Street

What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary in locations, but you may expect generous medical care, insurance and savings plans among other perks. You’ll have access to flexible Work Program to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.

Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspective are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome the candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift program and access to employee networks that help you stay connected to what matters to you.

State Street is an equal opportunity and affirmative action employer.

Discover more at StateStreet.com/careers