Job Description
YOUR IMPACT
Strategic engagements sourcing professionals partner with businesses in order to foster a competitive (and diverse) vendor environment which mitigates risk and maximizes value.
Strategic Sourcing role is to drive informed procurement decisions that create sustainable value at optimal cost. In addition, Sourcing is responsible for helping develop vendor management programs, drive spend compliance through tools and infrastructure and influence increase in diverse spend across the firm.
OUR IMPACT
Platform Solutions, Goldman Sachs delivers a broad range of financial services across investment banking, securities, investment management and consumer banking to a large and diversified client base that includes corporations, financial institutions, governments, and individuals.
Clients embed innovative financial products and solutions that create customer-centered experiences, powered by Goldman Sachs.
The businesses of Platform Solutions share a developer-centric mindset and cloud-native platforms. We utilize financial products, including credit cards, installment financing and high yield savings accounts into the ecosystems of major brands to serve millions of loyal customers.
We make it easy to offer a range of financial products powered by an API-first platform with the backing of Goldman Sachs' 150+ years of financial expertise.
We offer a customized deployment approach while providing a modern, agile technology stack all supported by our long history of financial expertise, risk management and regulatory knowledge.
Strategic Engagement
Strategic Engagement is responsible for sourcing and managing third party relationships for Marcus across all business lines in an effort to obtain the right products and services from the right vendors at optimal terms.
The team is focused on obtaining best value, minimal risk, and accretive solutions for our customers, the firm and Marcus.
This team offers a unique opportunity to strategically guide third party engagements for one of the newest digital finance brands in the industry.
On this team, you will apply your sourcing subject matter expertise primarily to Technology deals but will also support other spend categories.
You will have a direct ability to optimize vendor spend and manage third party risk to make Marcus successful and in turn help to disrupt financial services for millions of customers.
How You Will Fulfill Your Potential
- Lead vendor contract and commercial negotiations in one or more technology spend categories across Marcus
- Act as a trusted business advisor to provide guidance on all vendor-related matters in spend category, including sourcing strategy for single-source and RFX projects
- Work collaboratively with internal subject matter experts across Legal, Compliance, Tax, Finance, Firmwide sourcing, and other areas as required to drive sourcing projects to completion and meet all internal governance requirements
- Run RFIs / RFPs to evaluate and select vendors and products / services based on ability to meet requirements, total cost, risk, and commercial and legal terms
- Conduct analysis to model expected costs over the contract term, design the optimal commercial structure and use this analysis to make well informed decisions and recommendations
- Drive category planning alongside business stakeholders for one or more spend categories to maintain strategic and proactive control of the category inclusive of spend, number of vendors and product, vendor performance, and commercial and operational risk
- Maintain all documentation, management information, and data as required such as the sourcing project tracker and contract database
- Prepare reports for Marcus / Firm management on overall service provider landscape / vendor management issues, including related risks and other metrics
WHERE WILL YOU MAKE AN IMPACT
Strategic Engagements supports the Marcus, Platform Solutions business across the US and UK and works in partnership with the firmwide strategic sourcing teams around the globe on deals with shared vendors.
QUALIFICATIONS
SKILLS & EXPERIENCE WE'RE LOOKING FOR
- Minimum Bachelor's degree (U.S. or equivalent)
- 4+ years of strategic sourcing experience including commercial negotiations and running RFIs and RFPs
- At least two years of software sourcing experience with a variety of different vendors and licensing models
- Financial industry experience preferred, but not required.
- Strong analytical, financial analysis, problem-solving, and project management skills
- Highly motivated and results orientated
- Self-directed team player, ability to drive high performance and work independently or in a collaborative team
- Excellent communication skills, both oral and written
- Good understanding of contract terms
- Ability to manage multiple projects simultaneously and prioritize accordingly
- Strong stakeholder management skills and an ability to influence across functions
- Ability to work in a fast-paced environment and think clearly under pressure
- Commitment to excellence and a high level of integrity
- Proficient use of Microsoft Office Suite to include Word, Excel, Outlook, and PowerPoint
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