Principal Sourcing Manager

Overview of Position

The Principal Sourcing Manager leads defined third-party category(s) for all phases of strategic sourcing. This role requires the experience and leadership skills necessary to develop and lead strategic/ complex category strategies across the enterprise. Develops deep insights of the vendor (s) landscape, identifies material cost saving opportunities, ensures competitive environments, negotiates with defined discipline and experience, generates contracts to assure seamless availability of all products to support the company objectives and employs the best practices of the sourcing industry at all times.

This role may involve monitoring progress/results of other key sourcing initiatives beyond assigned Categories(s) and reporting outcomes to Director/AVP/VP.

What will be my duties and responsibilities in this job?  

• Support and execute the strategic sourcing goals of assigned categories and establishing key metrics and reporting to ensure that those goals are achieved

• Responsible for negotiating best possible cost service guarantee and develop "win-win" strategies that achieve sustainable relationships with suppliers for assigned category(s)

• Evaluate supplier core competencies and competitive positioning using industry cost models

• Implement supplier agreements/contracts working with cross-functional stakeholders and suppliers to reach agreement on contract terms and conditions

• Research and anticipate shifts in the negotiating power of suppliers within assigned categories

• Research and leverage industry trends and evolving technology to proactively identify issues to minimize risk, protect continuity of services, and utilize emerging opportunities

• Manage vendor selection for assigned category(s) and build ongoing vendor relationships.  May provide insights and direction to other category leaders selection and build ongoing vendor relationships

• Maintain and develop supplier relationships (trade shows, supplier meetings, conferences, etc.)

• Work jointly with Director/AVP/VP in establishing short-term and long-range planning and budget development of the company to support strategic business goals

• Execute vendor governance program with key suppliers including metrics, performance goals and improvement initiatives

• Adhere to Sourcing policies and standard processes while ensuring compliance within the department

• Seek to continuously improve productivity and efficiency of processes throughout the Sourcing organization

• Provide insights and recommendation to Director/AVP/VP to develop forecasts for future renewals, demand needs, and expansion of services in a timely fashion for assigned category(s) based upon vendor lead-time

• Identify and monitor the cost drivers in assigned category/market, and challenge traditional thinking by presenting new information

• May Manage and mentor other team members encouraging professional growth & development

• Oversee staffing/recruiting/training /coaching of direct reports including performance reviews

Financial Responsibility

• Support Global Sourcing teams annual operating budget, savings targets, and strategic initiatives

• Monitor value leakage within key supplier agreements under assigned Category(s)

• Must have deep understanding of financial planning process to ensure initiatives result in savings and savings are extracted from FP&A process across multiple cost centers, functions, and entities

What are the requirements needed for this position?  

• Bachelor’s degree required

• 8+ years’ experience in both the Sourcing and Procurement industry

• At least 5 years’ experience managing complex and large category and contract management for outsourcing services and procurement commodity purchases

• Minimum of 3 years' experience in leading complex, high value strategic initiatives within Sourcing and Procurement

• Proven strong leadership of teams experience in both Sourcing and Procurement

• Global (domestic and international) Leadership experience

• Global (domestic and international) Leadership experience in Sourcing/Procurement/ Supply Management Business

• Complex and Large Category and Contract Management Experience

• Cross functional experience at the interfaces of IT/technology/operations/finance/sales/marketing/legal/HR/Real estate & facilities, and the lines of business

• Deep experience successfully addressing escalations/disputes between cross-functional stakeholders and suppliers

• Commitment to supplier diversity

• Ability to manage projects and establish clear goals and accountabilities to ensure successful delivery (on time, within budget, meeting agreed upon success criteria)

• Firm knowledge of the legal terminology and language related to third-party agreements and contracts

• Thought leadership and application of sourcing and supplier industry concepts for assigned category(s).

• Advanced skills and working knowledge of MS Office and MS Excel

• Must have excellent presentation and communication skills

• Experience and confidence in interacting with the highest levels of executive leadership within Assurant and the supplier

• Must ensure compliance at all times with company business policies and procedures

Preferred Experience, Skills, and Knowledge

• Master’s degree (MBA) is a plus

• Experience with ServiceNow and Apttus preferred

#AssurantProudMS

$103,800.00 - $173,300.00

Any posted pay range considers a wide range of compensation factors, including candidate background, experience, and work location, while also allowing for salary growth within the position.

Helping People Thrive in a Connected World
Connect with us. Bring us your best work and your brightest ideas. And we’ll bring you a place where you can thrive. Learn more at jobs.assurant.com.

For U.S. benefit information, visit myassurantbenefits.com. For benefit information outside the U.S., please speak with your recruiter.

What’s the culture like at Assurant?
Our unique culture is a big reason why talented people choose Assurant. Named a Best/Great Place to Work in 13 countries and awarded the Fortune America’s Most Innovative Companies recognition in 2023, we bring together top talent around the world. Although we have a wide variety of skills and experiences, we share common characteristics that are uniquely Assurant. A passion for service. An ability to innovate in practical ways. And a willingness to take chances. We call our culture The Assurant Way.

Company Overview
Assurant is a leading global business services company that supports, protects, and connects major consumer purchases. A Fortune 500 company with a presence in 21 countries, Assurant supports the advancement of the connected world by partnering with the world’s leading brands to develop innovative solutions and deliver an enhanced customer experience through mobile device solutions, extended service contracts, vehicle protection services, renters insurance, lender-placed insurance products, and other specialty products.

Equal Opportunity Statement
Assurant is an Equal Employment Opportunity employer and does not use or consider race, color, religion, sex, national origin, age, disability, veteran status, sexual orientation, gender identity, or any other characteristic protected by federal, state, or local law in employment decisions.