Strategic Sourcing Vice President - Technology Category at BlackRock

Budapest, Budapest, Hungary

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Not SpecifiedCompensation

Senior (5 to 8 years), Expert & Leadership (9+ years)Experience Level

Full TimeJob Type

UnknownVisa

Financial Services, Asset ManagementIndustries

Requirements

6 to 10+ 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, preferably managing professional services firms in the IT professional services area such as TCS, Wipro, Infosys, Mphasis, ITC Infotech, HCL, Cap Gemini, ATOS, Ernst & Young, Stefanini, Softtek
A passion for the technology sector, including a comprehensive understanding of IT market drivers, trends, and dynamics
Seasoned professional in procurement with a focus on strategic sourcing to support the overall Technology Category at a global level
Skills honed to excellence in end-to-end management of strategic sourcing activities, from understanding stakeholder needs and available suppliers, to supplier assessment & due diligence, to negotiating, redlining, and executing supplier agreements in a timely fashion
Ability to coach and mentor junior staff at the Associate and Analyst levels by imparting best practices and past experiences

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
Recruit, coach, mentor, and indirectly manage junior staff
Work closely with internal stakeholders, including Business Function Leads, Category Leads, Third Party Risk, and Legal teams around the world in the negotiation of Master Services Agreements, Master Hosted Services Agreements, and Statements of Work
Ensure all sourcing and procurement activities comply with corporate policies, ethical standards, and legal requirements

Skills

Key technologies and capabilities for this role

Strategic SourcingProcurementSupplier ManagementContract NegotiationDue DiligenceNegotiationPerformance ManagementSourcing StrategySupplier Evaluation

Questions & Answers

Common questions about this position

What is the salary for the Strategic Sourcing Vice President role?

This information is not specified in the job description.

Is this Strategic Sourcing Vice President position remote or office-based?

This information is not specified in the job description.

What are the key skills required for this Strategic Sourcing Vice President role?

The role requires expertise in end-to-end strategic sourcing including supplier assessment, negotiation, and contract execution, plus abilities in market analysis, cost management, risk mitigation, and coaching junior staff.

What is the team structure like for the GSS team at BlackRock?

GSS is a global team primarily based in New York, Gurgaon, and Budapest, including members at Associate and Analyst levels whom the VP will coach and mentor.

What makes a strong candidate for the Strategic Sourcing Vice President - Technology Category role?

A strong candidate is a seasoned procurement professional with expertise in technology category strategic sourcing, capable of end-to-end management, strategic advisory, supplier relationships, market analysis, and mentoring junior staff.

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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