IT Sourcing Analyst, Strategic Sourcing and ProcurementApply Job ID: R-007749 Date posted: 12/12/2019 Primary Location SC-Fort Mill
The Strategic Sourcing and Procurement (SS&P) team is located in the new LEED certified Carolinas campus (Fort Mill, SC) and is responsible for managing the full end-to-end sourcing and procurement lifecycle. SS&P’s mission is to 1) Deliver sustainable, ethical practices and leadership to enable the selection of external partners to drive the best service, quality, and value for LPL while appropriately mitigating risk. 2) Provide leadership to our business partners through LPLs center-led Vendor Management Program to ensure that any contractual and performance risks are effectively mitigated. 3) Drive operational excellence through management of the requisition and contract processes, travel program, contingent worker program, and third party access controls.
As part of our goal to become a trusted business partner, we are aligned to business units and responsible for meeting regularly with them to understand their needs, conducting spend and contract analysis and developing category plans to help develop and drive strategic sourcing plans. The ideal candidate for this role will not only have sourcing, contract, and vendor management experience, but also strong business acumen to enable informed and targeted decisions to drive continuous improvement.
As an Analyst in SS&P you will be responsible for executing the sourcing and procurement process to procure various products and services for LPL’s Technology Business Unit (Technology.) As such, you will work closely with a number of internal stakeholders in the selection, use and management of external vendors across the LPL Technology portfolio. This includes supporting the management of the entire sourcing process for assigned categories with a constant focus on working collaboratively with Technology leadership, understanding and managing strategy, vendor selection and due diligence, contract negotiations, costs to budget, risk mitigation, and regulatory compliance.
A fundamental component of the role is change management and the ability to lead the transformation of SS&P into a strategic partner across the firm.
Other responsibilities include:
- Negotiating low - medium dollar (<$250K) & risk contracts with key IT vendors. Contracts include, but are not limited to: MSAs, SaaS Agreements, EULAs, SOWs
- Review contracts to ensure compliance to sourcing and contracting policies and procedures, and to escalate concerns to legal and business partners
- Assist VP in creating training documents, reports, best practices documentation for Technology commodities
- Assist VP in the analysis and development of category plans to provide visibility to spend, vendor summaries, contract summaries, stakeholder engagement, and market insights that lead to both short and long-term strategies
- Act as the reporting / analytical SME for the team; perform financial analysis, spend & Ariba reporting
- Partner with business groups to issue, evaluate and conduct RFx and reverse auctions
- Bring thought leadership to identify additional cost and operational efficiencies
- Work in collaboration with multiple departments and business partners to develop strategy, policy and/or resolution of issues
- Present recommendations and commodity plans to SS&P leadership team and business
- Represents and advocate SS&P strategies and goals across the firm
- Challenging assumptions, opinions, and decisions in a diplomatic way to ensure that actions taken are in the organization’s best interest
- Review contracts to ensure compliance to sourcing and contracting policies and procedures, and to escalate concerns to legal and business partners.
- Process contract terminations, expirations, extensions and renewals.
- Manage contract request queue in our procure-to-pay system, ARIBA, in a timely manner and within SLA.
- Present recommendations and commodity plans to SS&P leadership team and business.
- Support projects to continuously improve the capabilities of the SS&P organization
- Foster a positive, diverse and inclusive culture through education and communication
- Represents and advocate SS&P strategies and goals across the firm.
- Natural ability to build & foster strong relationships
- Collaboration skills with the ability to engage and influence others in all levels of the organization
- Experience with IT sourcing strategy development and execution
- Sourcing, workforce management, contract, vendor or relationship management experience is preferred
- Detail orientated with strong analytical skills and ability to synthesize complex data
- Demonstrate a working knowledge of various industry contract types, structure, pricing, terms and conditions, warrantees, service level agreements (SLAs), etc.
- Proven experience in managing multiple projects, with an ability to prioritize individual and team workload based on business needs and deadlines
- Negotiation skills with demonstrable experience in negotiating win-win outcomes that meet the interests of all parties.
- Ability, with proven experience, to work in a dynamic fast paced organization, with a focus on continuous improvement, customer service and teamwork.
- Creative problem solving skills and experience in facilitation of effective discussions around change management and varied ideas, opinions, insights and expertise
- Unimpeachable ethical standards and a strong work ethic
- Grace under pressure and a sense of humor!
Education and Experience:
- An appropriate 4 year college degree
- Minimum of 3-5+ years of experience working in a medium to large professional enterprise or 1+ years of vendor management, contract negotiations and pricing experience
- IT specific Sourcing experience is highly desirable
- Financial Services experience is desirable
- Experience using ARIBA or other Procure-to-Pay tools is desirable
- Advanced MS Office skills including Excel, SharePoint, Word and Power Point
About LPL Financial:
LPL Financial is a leader in the retail financial advice market and the nation’s largest independent broker/dealer*. We serve independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions. LPL and its affiliates have more than 3,700 employees with primary offices in Boston, Charlotte, and San Diego.
If you join LPL, you will join a culture that believes in delivering a world-class client experience and looks to all employees to contribute to that goal by sharing their creativity, experience, and passion for continuous improvement. As a destination of choice, our top priorities are growth and development, social responsibility, and financial health for our employees.
We offer competitive compensation and industry leading benefits, including a wellness facility with onsite fitness classes, healthy meal choices, and a walk-in clinic. We support employee financial health through a 401k match, ESPP, and employee discounts. Work/life balance is our foundation and is supported through paid holidays, and paid time off (including time to volunteer). We foster a diverse work environment through Employee Resource Groups and diverse strategic partnerships.
Join the LPL team and help us make a difference by turning life’s aspirations into financial realities. Please login or create an account to apply to this position. Principals only. EOE
*As reported by Financial Planning magazine, June 1996-2017, based on total revenue.