Vice President, Strategic Sourcing Procurement - Non-IT Professional Services Category

About the role

About this role Business Unit Overview: BlackRock Finance consists of finance professionals across several disciplines such as Financial Planning & Analysis, Treasury, Tax, Finance Controls, Global Strategic Sourcing (" GSS "), Finance Platform Support and Controllers. GSS is a global team, with team members primarily based in New York, Gurgaon, Edinburgh, and Budapest. GSS aims to be an organization of trusted strategic sourcing advisors enabling BlackRock to achieve more value. The GSS team advises and supports business functions on all their supplier-related initiatives whether they involve supplier identification, evaluation, selection, negotiation, performance management or escalation management. GSS seeks to avoid certain costs, deliver tangible cost reductions, furnish reliable analytical data and insights for improved decision making, and enable a socially responsible and diverse supplier base. Background: GSS seeks a professional in indirect procurement with a focus on strategic sourcing to support the overall Investment Advisory & Professional Services Sub-Category for BlackRock at a global level. This space includes audit, tax, due diligence, non-IT consulting including managed services, disclosures/reporting and proxy voting. Experience in additional indirect non-IT procurement categories such as HR, Facilities/Enterprise services and Marketing shall be considered an added advantage. This professional should be responsible for end-to-end management of strategic sourcing activities-- from understanding stakeholder needs and available suppliers in the marketplace, to performing supplier assessment & due diligence, to negotiating, redlining, and executing supplier agreements in a timely fashion. Principal duties include: Strategic Advisory: Serve as a strategic advisor to all levels of management on all matters related to sourcing and procurement, offering insights and recommendations to optimize processes and achieve business objectives. Sourcing Strategy Development: Develop and implement comprehensive sourcing strategies through competitive bidding, proofs-of-concept, demand management, supplier consolidation, and process reengineering efforts that align with the company's overall business goals, ensuring cost-effectiveness, quality, and social responsibility. Supplier Relationship Management: Build and maintain strong relationships with key suppliers, negotiating and drafting favorable terms into contracts, ensuring the highest standards of quality and service. Market Analysis: Conduct thorough market research and analysis to identify trends, risks, and opportunities within the supply chain, and prepare PowerPoint decks to support informed sourcing decision-making. People Management: Manage, coach and mentor the team of Associates within the category as needed. Cost Management: Implement cost-saving initiatives and strategies to reduce overall expenses without compromising on quality or performance. Risk Management: Identify potential risks within the supply chain and develop mitigation plans to ensure business continuity and minimize disruptions. Cross-Functional Collaboration: Work closely with internal stakeholders, including Business Function Leads, Category Leads, Third Party Risk, and Legal teams around the world in the negotiation of General Services Agreements, Engagement Letters, and Statements of Work. Compliance and Ethics: Ensure all sourcing and procurement activities comply with corporate policies, ethical standards, and legal requirements. Experience required: At least 12+ years of strategic sourcing experience at an international consulting, accounting, sovereign wealth fund, multilateral development bank, or financial services institution, with a proven track record of success in a strategic sourcing advisory role that works with the Big 4 accounting and professional services firms and/or strategy consulting firms (McKinsey, Bain, BCG) and/or large IT consulting firms (i.e. Cognizant, TCS, Wipro, HCL, Infosys, Slalom, Stefanini, EPAM, Softtek). A passion for the investment advisory and professional services sector, including a comprehensive understanding of market drivers, trends, and dynamics. This should include knowledge of how to negotiate agreements in this sector (proxy voting systems, data rooms, tax tools, etc.) Expertise with category planning, competitive bidding techniques (RFI, RFP, RFQ), creation of business cases, vendor selection, vendor risk due diligence, operations management, and vendor dispute/escalation management. Financial modelling skills to build multiple negotiation scenarios, total cost of ownership models, consumption models, and demand forecasts based on spend analytics and other data sources. Depth in drafting, redlining, and negotiating global contracts, including experience drafting engagement letters and service level agreements (SLAs), with professional service providers. This includes a solid understanding of contract law, in

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