Procurement & Sourcing Associate - Technology Category at BlackRock

Budapest, Budapest, Hungary

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Financial Services, TechnologyIndustries

Requirements

3 to 7+ years of strategic sourcing experience at a consulting, technology, or financial services firm, with a proven track record of success in a technology-related strategic sourcing advisory role
A passion for the technology sector, including a comprehensive understanding of IT market drivers, trends, and dynamics
Familiarity 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 forecasting

Responsibilities

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
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
Build and maintain strong relationships with key suppliers, negotiating and drafting favorable terms into contracts, ensuring the highest standards of quality and service
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
Implement cost-saving initiatives and strategies to reduce overall expenses without compromising on quality or performance
Identify potential risks within the supply chain and develop mitigation plans to ensure business continuity and minimize disruptions
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
Ensure all sourcing and procurement activities comply with corporate policies, ethical standards, and legal requirements
Manage end-to-end 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

Skills

Strategic Sourcing

Procurement

Supplier Evaluation

Supplier Due Diligence

Contract Negotiation

Redlining

Competitive Bidding

Proofs of Concept

Demand Management

Cloud Computing

SaaS

IT Consulting

Networks

Telecom

Fintech

Hardware

Data Centers

BlackRock

About BlackRock

New York City, New YorkHeadquarters

1988Year Founded

$78,647.7MTotal Funding

IPOCompany Stage

Fintech, Financial ServicesIndustries

Benefits

Health Insurance

Unlimited Paid Time Off

Mental Health Support

Wellness Program

401(k) Retirement Plan

Risks

FDIC scrutiny could lead to regulatory challenges for BlackRock.

Workforce reduction may indicate internal financial pressures or strategic shifts.

Involvement in Yangzijiang Shipbuilding exposes BlackRock to geopolitical risks.

Differentiation

BlackRock's Bitcoin ETF, IBIT, reached over $50 billion in assets quickly.

The firm is developing a layer-2 tokenized real-world asset platform on Ethereum.

BlackRock's partnership with Frax Finance enhances its stablecoin market presence.

Upsides

IBIT's success attracts a broader range of cryptocurrency investors.

The Ethereum platform positions BlackRock as a leader in blockchain financial services.

Partnership with Frax Finance enhances digital finance offerings and compliance.

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