Director, Global Sourcing & Procurement (Seattle or New York City)

Business Unit:

Global Sourcing & Corporate Services

Salary Range:

$170,000 USD-$200,000 USD

Specific compensation will be based on candidate’s experience, skills, qualifications, commercial considerations, and other job-related factors permitted by law. At Russell Investments, salary is just one part of our compensation package. Our total rewards approach includes an annual performance bonus (subject to eligibility criteria) in addition to participation in our competitive benefits programs including healthcare, retirement, vacation, and wellbeing programs.

Job Description:

The Global Sourcing and Procurement department (“GSP”) is a critical function with significant influence across Russell Investments. As the leader of this team, you are responsible for developing and managing a strong partnership with our business unit executives and their teams to proactively manage contractual elements their existing supply base. This includes developing and executing strategies to support both corporate and business unit strategic goals. In addition, you will collaborate with business unit stakeholders to successfully source new areas of spend, ensuring consideration of existing solutions and provider relationships to minimize redundancy and proliferation.

This is a “player-coach” role that develops and executes strategies and contract negotiations as well as manages a team of 3-6 associates who will also develop and execute indirect spend sourcing strategies, including market assessment, benchmarking, baseline development, negotiations and contracting, and savings tracking. Key in-scope categories include (but are not limited to) professional services, outsourcing services, financial market data, and all categories of information technology.

This role is based in Seattle or NY.

Your Core Responsibilities:

Relationship Management and Client Service

Partner with senior leadership in business units and other key stakeholders to understand business objectives and goals, specifically as it relates to existing and new parties; develop and execute a dynamic strategic plan (up to 3 years) to successfully support all existing contract renewals and expirations as well as new third party spend requirements – both at a category level and an individual contract level; this includes developing and communicating plans and status to various senior levels of the organization via dashboards

Generate and lead/execute cost efficiency efforts with key business executives, driving cost savings and other value-added activities across the supply base; includes project management and proactive communication and dashboard reporting of these efforts on a regular basis

Develop and coach GSP team in developing and successfully executing sourcing strategies on a timely basis, including market assessment, baseline development, sourcing approach, negotiations, contracting, and savings calculations

Collaborate with other functions such as Legal, Operations, IT, HR, Program Management Office, Marketing, Compliance, and Finance teams on sourcing strategy development and execution

Responsible for educating business units on third-party risks and escalating and monitoring issues to ensure appropriate actions are taken

Manage a program with the Office of the CFO to report and track savings and other benefits to senior leadership on an on-going basis

Leverage and evolve the use of our Contract Lifecycle Management (CLM) application - Agiloft - for contract drafting workflow, execution, and management within GSP; advocate usage outside GSP where appropriate

Strategic Sourcing Thought Leadership and Execution:

Proactively identify – and work with GSP team to identify - opportunities, via sourcing, substitution, etc., to reduce costs, increase/improve services, and/or manage risk.

Lead strategic sourcing efforts in support of business unit operations, including incumbent negotiations, RFXs, contract negotiations

Conduct market research and provide key subject matter expertise

Identifies metrics, tools, and processes to optimize sourcing, supplier activities, and efficiencies; work collaboratively with team members to prioritize and drive implementation

Launch and enhance a Supplier Diversity / MWBE program to expand the base of innovative and diverse vendors.

Management and Leadership

Develop and manage a high performing and motivated strategic sourcing team responsible for interfacing with business and supplier partners; tailor management style appropriately to levels of experience of team members

Fosters a culture of continuous improvement and professional development within the GSP Team

Lead and collaborate with team members to strategically plan support for business units; coach team members throughout project – from initial kick-off to executive updates and final presentation and approvals

Proactively interface and advise with senior leadership to align business priorities and proactively manage any potential issues

Have a global mindset but understand key local requirements and norms to support a global internal supply base

Represents procurement function on the Program Management Advisory Committee in both evaluating the merit of potential projects and as well as advising of procurement steps

Your Expertise:

Bachelor’s degree required in Business, Finance, Legal, Process Engineering, and/or Supply Chain Management; Master’s degree preferred.

CPM, CPSM or equivalent preferred.

15+ years thorough knowledge, experience, and execution of strategic sourcing and category management processes, techniques, and methodologies holistically (balancing cost, risk and performance) across multiple indirect spend categories (including sourcing technology hardware, software, and services; professional services, outsources services, etc.)

Proficiency with Microsoft applications: Word, Excel, PowerPoint, SharePoint, Teams required. Significant experience with contract lifecycle management solutions such as Agiloft strongly preferred along with enterprise workflow management systems such as Adobe Workfront.

Working knowledge of and experience with eProcurement practices, Contract Lifecycle Management (CLM) and Procure-to-Pay (P2P) applications, spend analytics tools and electronic invoicing options strongly preferred

Matches business demand with talent skillsets, including expanding capacity of individuals and teams through effective employee development and supervision, process improvement, coaching and training

Ability to develop influencing relationships with varying levels of management and individual contributors from various business units.

Experienced in negotiating medium to high complexity contracts across categories of spend in IT, professional services, outsourced services, etc. Clear understanding of contractual terms and conditions.

Ability to clearly and effectively communicate with all levels of management

Deep subject matter expertise for assigned spend categories.

Proficient negotiation and financial modeling skills.

Ability to root cause problem/issues and provide solutions/options support with fact-based/data driven analysis.

Able to balance and prioritize multiple high priority projects ; demonstrated flexibility and adaptability of processes to ensure this function matches speed of business

Able to influence and lead others within the department, business units, and various support units.

Equal Employment Opportunity

Russell Investments is committed to providing equal employment opportunities for all associates and employment applicants regardless of race, religion, ancestry, creed, color, gender (including gender identity which refers to a person's actual or perceived sex, and includes self-image, appearance, behavior or expression, whether or not different from that traditionally associated with a person's biological sex), age, national origin, citizenship status, disability, medical condition, military status, veteran status, marital status, sexual orientation, past or present unemployment status, or any other characteristic protected by law.

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