Procurement & Sourcing, MD at State Street in Quincy, Massachusetts

Job Description:

The role is an MD within IT Procurement and will be a critical role within State Street's Global IT Procurement Team and will be responsible alongside the wider team for managing key stakeholders within GTS and other functions across multiple large IT spends and engagements. The role will also include the preparation of supplier level sourcing strategies working with and supporting our IT Category heads and will include the preparation, analysis, negotiation and finalization of the end-to-end Procurement process.

Specifically, this leader will work senior level business partners including CIO's direct reports, as well as the second- and third-line partners to establish a robust pipeline of Procurement initiatives and help deliver Total Cost of Ownership savings.

This role will report into the Global Head of IT, Professional Services and Good Services Procurement whom is based in EMEA and reports into the CPO. Due to the role requirements this job needs to be performed primarily in the office with some flex work opportunities available.

Due to the nature of job this role will be based in US, preferably Boston other locations will be considered if the candidate is willing to travel regularly for Stakeholder management from another US location.

What you will be responsible for

Partner with the relevant functions and leaders to:

• Develop stakeholder relationships on a face to face basis across our Boston locations using a white glove approach as needed with senior stakeholders (Quincy, One Congress and Burlington)


• Find and deliver saving opportunities via stakeholder engagement and data analysis


• Ability to manage challenging stakeholders, delivery of difficult messages and pro-actively managing effective communication


• Perform or support direct negotiations and manage large and complex agreements


• Draft and negotiation IT agreements with support from Legal where required


• Negotiate IT security schedules with support from IT Security and Legal SMEs


• 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 Avoidance savings for the team


• Analyze data to identify opportunities to reduce existing cost base


• Coordinate, prepare and manage RFx/competitive bids to optimize cost and service


• Perform 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


• Develop and mentor team members in our US locations but also other locations as needed

These skills will help you succeed in this role

• A smart, challenging and energetic leader, with a passion and deep understanding of IT Procurement across a Global organizations.


• High intellect, decisiveness and the drive and flexibility to operate in a constant changing environment.


• A leader, viewed by others has having a high degree of integrity and forethought in making decisions; able to act in a transparent and consistent manner, not afraid to deliver and manage complex and difficult messages


• A number of years (15+) Strategic procurement experience in IT related spend across Multiple IT Categories examples Software, Cloud, IT Services, Hardware and Telecoms


• Business Relationship Management skills i.e. how to influence key decision makers become "trusted advisor"


• Exceptional communication skills and relationship management capabilities, able to communicate with all levels of the organization effectively and across Technology subject matter experts


• Demonstrated experience managing complex transformation programs and executing change


• A strong understanding of all facets of global IT vendors i.e. how to unlock value


• Proven track record of delivering P&L saving projects


• Should have strong commercial skills and be able to deliver cost effective outcomes


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


• Understanding of best in class procurement, third party risk, Information Security etc.


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


• Understanding of the regulatory landscape and emerging themes impacting IT and Procurement


• Strong strategic thinker and problem solver with attention to detail


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


• Established written and verbal communication skills


• Ability to manage challenging stakeholders diplomatically


• Good presentation skills and a keen eye for detail a must

We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don't necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit.

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 by location, but you may expect generous medical care, insurance and savings plans, among other perks. You'll have access to flexible Work Programs 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 perspectives 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 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 programs 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

Salary Range:
$160,000 - $250,000 Annual

The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.

Job Application Disclosure:

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

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