Sourcing Manager - IT Services

  • Competitive
  • Singapore
  • Permanent, Full time
  • Bank Of America / Merrill Lynch
  • 26 Sep 16

Sourcing Manager - IT Services

Job Description:
Business Overview
As a company doing business in more than 150 countries, and with over 250,000 employees, Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

Bank of America Merrill Lynch is the marketing name for the Global Banking & Markets and Global Commercial Banking businesses. The company is a long-established participant in Asia Pacific with a presence since 1947. With 23 offices in 12 geographies, covering nine currencies, more than a dozen languages and five time zones, Bank of America Merrill Lynch offers an integrated and comprehensive set of products and services across Global Corporate & Investment Banking, Global Markets and Wealth Management, serving the needs of individual, corporate, institutional and government clients, combining the best of local knowledge and global expertise.

Bank of America Merrill Lynch has been expanding in the Asia Pacific region with compounded annual growth of over 20% for the last three years. Focusing in the Large Corporate client base in the region, as well as global multi-nationals, the differentiator for Bank of America Merrill Lynch lies in the services we provide to clients. From the implementation of new products and services to the support we provide clients as part of the banking relationship, our mission is to deliver a world class experience to our clients, while managing the business with tight operational risk routines and continuously improving the efficiency of the organization.

Job-specific responsibilities
As a Sourcing Manager, you are able to negotiate extremely complex acquisitions from the inception to completion. He/she performs market research to obtain market knowledge, uses experience to develop negotiation strategies, and is able to influence and coordinate among team members. Employee possesses the skills required to detail and refine business requirements. They must have the knowledge to maximize a competitive marketplace even when faced a source-directed mentality, and also has the ability to achieve significant cost savings in sole-source procurement situations. The Sourcing Manager requires minimal supervision and understands most issues relating to risk and how to mitigate it. He/she demonstrates the ability to administer complex contractual activities from inception to completion. His/her subject matter expertise is very broad with a capability to handle any commodity or LOB/business unit independently. This associate is a valuable internal resource to the rest of the Sourcing team. This associate is considered a trusted advisor by business leaders, and a respected adversary to vendor representatives.

  • Individual contributor;
  • Knows how to develop SOWs and contracts in accordance with best practices, assists the business owner in creating a SOW/SLA, providing clarity and addressing all LOB requirements, and facilitates the collection of additional data from vendor managers as required to support business needs
  • Able to use persuasion to build group consensus and resolve challenging situations
  • Has the ability to accurately interpret complex terminology used in constructing contractual documents
  • Provides mentoring and training to Specialists
  • Possesses the ability to exercise good legal judgment in determining the terms and conditions that are in Bank of America's best interest, assessing total impact of the contemplated agreement on the corporation
  • Able to lead a team in the development of complex proposal documents and is proficient in the objective analysis of proposal responses, the identification on non-conforming items and the interview of potential service providers
  • Able to structure all elements of an RFP (technical, contractual, schedule and cost) in order to ensure that uniformed bids are received
  • Able to develop processes for selection criteria and weighting of applicable criteria
  • Performs effective cost price analysis on complex proposals and be able to effectively communicate inconsistencies with to the bidders
  • Capable of defining and influencing the supply strategy to achieve business results
  • Maintains a positive and professional attitude towards work assignments, LOBs, co-workers and suppliers.
  • Consistently provides a high level of service by establishing and clearly communicating mutual expectations, developing an understanding of LOB needs, and demonstrating competency and consistency in meeting commitments.
  • Builds Partnerships - Builds broad-based business relationships across the organization. Skillfully influences peers and colleagues to promote and sell ideas. Proactively surfaces and resolves conflict with minimal noise.
  • Is a mentor/coach for the team
  • Has in depth knowledge of significant spend category, supply base and market conditions and mastery level sourcing principles
  • Assists Senior Sourcing Manager with engagement routing
  • Coordinates and leads complex sourcing event projects, will manage multiple events concurrently
  • Proven ability to communicate, partner and influence across a matrix organization
  • Superior ability to communicate concepts and ideas both verbally and in written form, including, but not limited to, e-mails, narratives in Ariba, white papers and presentations
  • Employee has the organizational skills to monitor work and keep it on track to meet or exceed commitments. The Employee consistently provides updates to the concerned parties and performs all tasks in a timely manner
  • Acts as a valued advisor, exhibiting respect and professionalism to LOBs and affected support partners. The Employee is a tenacious proponent of minimizing risk, attaining best value (cost saves) and providing complete solutions. He or she is entrusted with completing the deal within the agreed timeframe, and streamlining the process.
  • Requires all levels of participants to work together cooperatively
  • Comfortable interacting with Senior Management teams throughout the organization
  • Must be able to work independently and set goals/prioritized focus and time management skills
  • Ability to work well on a team, as well as manage multiple priorities in quick time frames

Posting Date: 22/08/2016
Location: Singapore - Singapore

Full / Part-time: Full time