JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at http://www.jpmorganchase.com/.
JPMorgan Chase ("JPMC") seeks to do business with suppliers who provide the best price, quality and capability to meet our business needs. With 280 team members in 11 countries, our Sourcing and Procurement Services ("SPS") organization works proactively with line of business colleagues to identify capable suppliers, lead the competitive sourcing process and negotiate and contract with the chosen suppliers. Leveraging firm-wide buying power and controlling risk are consistent overarching goals. SPS then ensures that the contracted goods and services can be obtained by our employees in an efficient, cost-effective manner globally.
This Global Sourcing Category Manager role will report to a Global Sourcing Category Director and is responsible for leading the development of long term category sourcing strategy plans, along with the sourcing, contracting and execution for third party supplier spend across JPMC Lines of Business 'LOB' for select categories within the Business Aligned Technology and Service group who work in partnership and support of the Asset Management and Investment Bank businesses. This position requires an experienced sourcing manager who will be able to develop relationships within the lines of business and coordinate with sourcing leads in APAC and EMEA, where required.
Roles and Responsibilities:
- Lead the development and execution of category management strategies for significant sourcing transactions
- Identify qualified candidate suppliers capable of meeting JPMC requirements
- Carry out all in depth supplier due diligence as required
- Work with LOB clients and other stakeholders to define requirements for a sourcing transaction
- Design and execute the competitive process for each sourcing transaction to obtain the best overall value-added solutions from candidate suppliers
- Evaluate competitive offerings from suppliers and develop and present sourcing options that meet JPMC's business requirements
- Lead the negotiations to establish commercial terms and lead the contract develop process thru contract approval and execution
- Maintain compliance with all policy and procedural guidelines
- Partner with regional teams and clients on local, regional and sometimes global sourcing projects.
- Partner closely with internal JPMC legal, risk and finance teams towards the successful completion of intricate negotiations and initiatives
- Ensure all the selected suppliers are compliant with SLA's (Service Level Agreements) through collaboration with our internal partners and client teams
- Lead the category and supplier spend management activities with your respective spend areas and suppliers
- Conduct in depth cost and spend analysis in order develop target saves initiatives though various cost reduction means
- Carry out administrative responsibilities effectively in managing projects and contracting activities
- Identify new service opportunities that address or anticipate client needs
- Build effective and trusted relationships with internal clients and suppliers.
- Create a portfolio approach towards select key spend categories
- Proactively engage with internal clients in a consultative manner to develop value added opportunities and holistic sourcing strategies for your respective categories
- Achieve cost reduction / savings targets
- Work cooperatively with other sourcing leads as a team member to meet common objectives.
- Build and maintain relationships with Business/Functional Managers, advising on sourcing options and strategies
- Lead the development and implementation of multi-year category strategies that span multiple lines of business
- Lead and expedite vendor selection and purchasing decisions through appropriate competitive bid and strategic sourcing processes (leverage practices and tools)
- Develop & maintain vendor information, by producing qualitative assessments of suppliers. Negotiate, manage and monitor vendor agreements that protect JPMC's interests
- Deliver on projects that lower the firm's total spend and supply risk with 3rd party suppliers
- Bachelor's Degree required; MBA preferred
- Minimum of 7 years experience in managing commodity or spend category spend
- Interpersonal: ability to lead and influence execute level stakeholders
- Thought Leadership: determination to drive breakthrough thinking and continuous improvement; sets a personal example
- Market Research: ability to conduct market/industry/supplier analysis and synthesize data into a consumable format
- Commercial skill/strategic negotiation ability
- Change Management: experience and proven ability to drive change with management direction but without having to be prescribed to
- Project Management: ability to develop, plan and execute projects and create remediation plans and actions with timely updates to management
- Communication Skills: ability to communicate effectively with internal sourcing and client stakeholders
- Cost Modeling: ability to understand value streams, cost drivers and how to break down cost structures
- Business Strategy Alignment: ability to understand business strategy and build plans to support it
- Risk Management: knowledge of business risk factors and business savvy to minimize risk appropriately and communicate acceptance of risk factors when required.
- Technology Acumen: advanced proficient in the use of the Microsoft Office Suite (especially advanced Excel) as well as Ariba analysis
- Sourcing Methodology: strong knowledge of the key aspects of the RFI/RFP/RFQ and five step sourcing process
- Legal Acumen: strong understanding and proven experience in executing and amending complex legal Master Agreements and Service levels