This role supports the procurement needs of Bank of America's Global Marketing organization. As a Senior Procurement Specialist, you will be responsible for negotiating complex deals from inception to completion. This includes leveraging current and future business requirements, market intelligence, and historical spend information to develop innovative category strategies and specific deal negotiation strategies that optimize the vendor base, creates business value, cost savings, and reduces risk. The Sr. Procurement Specialist has strong business acumen and is viewed as a trusted advisor by key Business stakeholders. The Sr. Procurement Specialist also manages and understands Bank of America's end-to-end third party program and enforces Business compliance to that program.
Proficient with defining, influencing and driving approval of procurement category strategies to achieve business goals and objectives
Create and execute save forecasting in collaboration with Finance partners
Able to lead a global team in the development of a negotiation approach, create complex RFP proposal documents (technical, contractual, schedule and cost), and drive analysis of proposal responses/overall evaluation of service providers
Negotiates contracts utilizing best practices, assists the business owner in creating business requirements including Schedules/Statement of Works and Service Level Agreements, providing clarity and addressing all Business requirements
Comfortable with legal contract concepts (Limitation of Liability, Indemnification) and able to drive negotiation acceptance of Bank of America's required language with those terms
Work routinely with risk partners (Legal, Compliance, Ops, Info Sec, etc.) in negotiating deals and in managing outsourcing risk
Consistently provides a high level of service by establishing and clearly communicating mutual expectations, developing an understanding of business needs and demonstrating competency and consistency in meeting commitments
Builds broad-based business relationships and partnerships across the organization, skillfully influences peers and colleagues to promote and sell ideas, and proactively surfaces and resolves conflict with minimal noise
Proven ability to communicate, partner, and influence across a matrixed organization
Identify and escalate risks and issues to the appropriate governance routines
Analyze and determine adherence to Bank of America's Third Party Program
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses, and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world.