Sourcing Analyst

  • Job type

  • Location

  • Profession

    Data & Advanced Analytics
  • Industry

    Banking & Financial Services
  • Pay


Sourcing Analyst – Contract or CTP – Raleigh, NC – $35.00-$50.00/hr.

The final salary or hourly wage, as applicable, paid to each candidate/applicant for this position is ultimately dependent on a variety of factors, including, but not limited to, the candidate’s/applicant’s qualifications, skills, and level of experience as well as the geographical location of the position.

The end client is unable to sponsor or transfer visas for this position; all parties authorized to work in the US without sponsorship are encouraged to apply.

Our client is seeking a Sourcing Analyst in Raleigh, NC.

Role Description

The Sourcing Analyst will report to a current Sourcing manager for their IT operations. They will be responsible for identifying and supporting sourcing opportunities across multiple fields to maximize leverage, reduce expense, establish common standards, and implement effective contracts that define the scope and terms of the required goods and services. Includes responsibility for contract reviews, negotiation, and sourcing processes, to ensure benefits and expected outcomes of the services are realized, with a focus on optimizing costs. The Sourcing Analyst will work with the Sourcing Managers, vendors, and internal departments and stakeholders to identify opportunities and execute processes to improve efficiencies within the company.

• Work with business, internal stakeholders and vendor on contract renewals, termination letters and assist Sourcing Managers as needed with reviews of new and existing contracts, agreements and statements of work to achieve optimal terms and pricing as well as mitigate overall risk and ambiguity.

• Work with internal teams to understand overall requirements and assumptions related to new engagements to ensure the contractual obligations align.

• Ability to interpret contractual language, perform risk mitigation and communicate with internal stakeholders, project and operational support teams.

• Ensures all agreements are reviewed and approved by Legal.

• Provide peer review as needed for agreements include appropriate warranty periods and performance guarantees. Ensures that SLAs are well documented and can be accurately tracked.

• Participate in review of contractual obligations with internal teams and vendors to ensure responsibilities are known, documented and agreed to by both parties.

• Ensures documents and agreements are filed accordingly and ensures stakeholders understand scope, risks, termination clauses and performance guarantees.

• Assist with RFP engagements, understanding project requirements, evaluating potential bidders, and creating the RFP package for submission, reviewing vendor submittals, and taking proactive steps in the negotiation process to mitigate risk and guarantee performance by the vendors.

• Assist with various reporting: spend, cost avoidance/savings and purchase orders.

• Ensure maintenance of contract term dates, renewal clauses, termination details and non-disclosure agreement dates, issues and escalations with status and resolution dates. Leverage interpersonal relationship strengths to manage disputes and drive change in vendor behaviors.

• Aide in the proactive review all contracts well ahead of renewal timelines to engage in timely renewals and to leverage opportunities for negotiations, while engaging appropriate stakeholders to result in maximum benefit for the entire contract portfolio.

• Aide legal in all redline interaction with vendor contract negotiations and prioritization of contract review based on business units’ timelines.

• Coordinate regular meetings with internal teams as needed for contract redlines, contract prioritization, vendor issues/discussions and business units as needed.

• Serve as a central point of contact for internal stakeholders and business units for all vendor engagements and coordinate with legal, risk, vendor management, security, IT and other internal workstreams for vendor onboarding and purchase of new products and services.

• Works effectively with cross-functional senior management teams to find opportunities for improved vendor/contract management and drives continuous process improvements.

Skills & Requirements

• 5 years experience as a sourcing analyst w/in a financial institution plus a Bachelors degree. Ideal if someone has an undergraduate in procurement or supply chain management/procurement.

• Experience in contract negotiation software (they use CONGA)

• Experience in spend management tools (they use Ariba, Zycus, Bravo Solutions Analysts and Reports Strong Multi-tasking and strong organizational skills; project management skills

Benefits/Other Compensation

This position is a contract/temporary role where Hays offers you the opportunity to enroll in full medical benefits, dental benefits, vision benefits, 401K and Life Insurance ($20,000 benefit).

Why Hays?

You will be working with a professional recruiter who has intimate knowledge of the industry and market trends. Your Hays recruiter will lead you through a thorough screening process in order to understand your skills, experience, needs, and drivers. You will also get support on resume writing, interview tips, and career planning, so when there’s a position you really want, you’re fully prepared to get it.

Nervous about an upcoming interview? Unsure how to write a new resume?

Visit the Hays Career Advice section to learn top tips to help you stand out from the crowd when job hunting.

Hays is committed to building a thriving culture of diversity that embraces people with different backgrounds, perspectives, and experiences. We believe that the more inclusive we are, the better we serve our candidates, clients, and employees. We are an equal employment opportunity employer, and we comply with all applicable laws prohibiting discrimination based on race, color, creed, sex (including pregnancy, sexual orientation, or gender identity), age, national origin or ancestry, physical or mental disability, veteran status, marital status, genetic information, HIV-positive status, as well as any other characteristic protected by federal, state, or local law. One of Hays’ guiding principles is ‘do the right thing’. We also believe that actions speak louder than words. In that regard, we train our staff on ensuring inclusivity throughout the entire recruitment process and counsel our clients on these principles. If you have any questions about Hays or any of our processes, please contact us.

In accordance with applicable federal, state, and local law protecting qualified individuals with known disabilities, Hays will attempt to reasonably accommodate those individuals unless doing so would create an undue hardship on the company. Any qualified applicant or consultant with a disability who requires an accommodation in order to perform the essential functions of the job should call or text 813.336.5570.

Drug testing may be required; please contact a recruiter for more information.


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