Strategic Sourcing Principal

Role Overview

• Lead complex, enterprise-wide strategic sourcing initiatives from category strategy development through supplier selection and contract execution.
• Develop sourcing strategies that drive cost savings, operational value, and risk mitigation aligned with business priorities.
• Partner with senior business leaders, Finance, Legal, Risk, and Compliance teams to influence sourcing decisions and achieve optimal outcomes.
• Negotiate complex commercial agreements, including pricing structures, service levels, contractual terms, and risk provisions.
• Manage strategic supplier relationships to improve performance, governance, issue resolution, and long-term value delivery.
• Ensure sourcing activities and supplier agreements comply with procurement policies, regulatory requirements, and internal controls.
• Mentor and guide sourcing professionals by sharing expertise, negotiation strategies, and procurement best practices.
• Prepare and present sourcing recommendations, negotiation outcomes, and business cases to executive leadership.

Requirements

• Bachelor’s degree or equivalent combination of education and experience.
• 7+ years of experience leading complex strategic sourcing initiatives across multiple spend categories.
• 7+ years of experience developing sourcing strategies that deliver measurable savings, value optimization, and risk mitigation.
• 7+ years of experience leading commercial negotiations involving pricing, contracts, service levels, and risk provisions.
• 7+ years of experience advising senior business stakeholders on sourcing strategy and procurement best practices.
• 6+ years of experience ensuring sourcing activities comply with enterprise policies, regulatory requirements, and internal controls.
• 5+ years of experience partnering with Finance to track savings and value realization from sourcing initiatives.
• 5+ years of experience presenting sourcing strategies and recommendations to senior leadership.
• Preferred Bachelor’s degree in Business Administration, Supply Chain Management, Finance, Economics, or a related field.
• 5+ years of experience leading enterprise-critical sourcing initiatives with significant financial or operational impact.
• 4+ years of experience working within a mature procurement organization with Strategic Sourcing and Procurement Operations functions.
• 4+ years of experience mentoring sourcing professionals on negotiations, stakeholder engagement, and sourcing strategy.
• 3+ years of experience improving procurement policies, governance frameworks, or sourcing processes.
• 3+ years of experience working in a highly regulated industry such as banking, healthcare, insurance, or financial services.

Benefits

• Retirement savings including both 401(k) and Pension plans.
• Paid time off to volunteer in your community.
• Opportunities to connect with others through our diversity-focused Colleague Resource Groups.
• Competitive salaries with professional development and advancement opportunities.
• Bonus benefits including well-being programs and incentives, parental leave, an employee stock purchase plan, military benefits and much more.
• Personal banking, loan, investment and insurance benefits.