VP, Sourcing and ProcurementApply Job ID: R-003323 Date posted: 06/01/2018 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 a Vice President in SS&P you will be responsible for leading a sourcing team to execute the sourcing and procurement process to procure various products and services across LPL with multiple Business Units (BU’s) as the customer. As such, you will work closely with a number of internal stakeholders including Executive level stakeholders in the selection, use and management of external vendors across the LPL BUs. This includes management of the entire sourcing process for assigned categories with a constant focus on working collaboratively with BU 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:
- Developing a high performing and engaged team who continually elevate their contributions and are highly respected members at LPL
- Developing and maintaining a Category Sourcing Strategy
- Working with leadership teams across the BU’s to form actionable strategic sourcing plans
- Understanding BU’s operational needs while anticipating new opportunities.
- Managing and delivering on strategic sourcing engagements with high spend (>$1M) across all phases of the sourcing life cycle
- Leading the research, sourcing, negotiation, and implementation of strategic, high risk vendor relationships across multiple categories
- Building strong relationships and acting as the sourcing SME for senior leaders in your assigned categories, providing experience and insight to become a “trusted advisor’ to our internal partners
- Bringing strategic thought leadership to identify additional cost, service, quality and operational efficiencies
- Representing SS&P in senior level meetings, driving improved and earlier engagement in BU strategies and goal setting across the firm
- Negotiating high dollar, high risk contracts with key vendors. Contracts include, but not limited to, technical, financial, goods and services, outsourcing and consulting agreements for products, services and solutions
- Challenging assumptions, opinions, and decisions in a diplomatic way to ensure that actions taken are in the organization’s best interest
- Working with LPL’s Compliance, Legal, and Risk functions to ensure vendor risk is mitigated across the firm
- Fostering a positive, diverse and inclusive culture through education and communication
- Leading and supporting projects to continuously improve the capabilities of the SS&P organization
- Strong relationship building and collaboration skills with the ability to engage and influence others in all levels of the organization
- Experience with sourcing strategy development and execution
- Proven experience in managing multiple projects, with an ability to prioritize individual and team workload based on business needs and deadlines
- Advanced knowledge of sourcing and vendor management best practices with extensive knowledge of various industry contract types, structure, pricing, terms and conditions, warrantees, service level agreements (SLAs), etc.
- Excellent 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.
- Superior leadership skills and experience in providing coaching and feedback to allow individuals and teams to grow professionally
- 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
- A minimum of 10 years of experience working in a Sourcing or Vendor Management role within a mid to large sized company
- Financial Services experience is desirable
- Experience using ARIBA or other Procure-to-Pay tools is desirable
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.