Valley National Bank Job - 36425525 | CareerArc
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Company: Valley National Bank
Location: Wayne, NJ
Career Level: Director
Industries: Banking, Insurance, Financial Services


The Director of Procurement will develop strategies and provide senior leadership to critical sourcing & purchasing activities across the entire enterprise with a focus on developing a best-in-class organization inclusive of technical solutions and organizational design. The candidate is responsible for ensuring that all our external supplier spend and engagements are being executed and transacted at the highest levels of efficiency, quality and integrity.   This position will also create & manage the Procurement center of excellence, help to define a proactive rather than tactical approach to procurement and supplier relationship management, and develop analytics that ensure the Procurement organization continues to achieve and maintain world class return on investment as it relates to savings per procurement FTE.   Responsibilities include, but are not limited to:

  • Strategic Sourcing 
    • Development of procurement vision and strategy.
    • Establish strong relationships with key executives to facilitate implementation of a centralized program/strategy.
    • Create / improve best-practice processes (e.g., leadership of high-value/strategic sourcing efforts).
    • Aggregate & analyze spend data to identify spend categories for strategic sourcing events.
    • Leadership of cross-functional teams across business groups and functions.
    • Build market intelligence capabilities within the category management team on key markets, trends, suppliers and solutions.
  • Procurement Operations 
    • Identify key tools to facilitate contract management, AI, auction process and/or 'procure to pay' workflows.
    • Identification and realization of cost-savings opportunities.
    • Savings pipeline management for categories under management.
    • Development of benchmarks, KPI's and scorecards to be used for continuous improvement and to demonstrate value delivered.
    • Direct negotiation of key enterprise contracts. Oversight of team to negotiate all contracts.
    • Oversee contract development and administration.
    • Identify and manage commercial, contractual, operational, reputational, and ethical risks to minimize potential negative impacts to the company.
    • Serve as the primary contact for procurement related questions, training, policy and procedure interpretation and alignment by all Business Units and departments.
    • Manage current procurement policies, procedures and programs with a focus on their ability to enhance organizational value and efficiency.
    • Oversee the execution of procurement strategies across the enterprise to ensure consistent and high-quality value delivery.
    • Conduct business review meetings with key stakeholders to assess performance, risk, future strategies, and identify improvement opportunities.
    • Manage the processing of purchase orders; develop bids and proposals; and work closely with invoice processing team for process efficiency.

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