Senior Strategic Sourcing Manager

The Team

The Procurement team at Upstart consists of four service pillars - Strategic Sourcing, Procurement Operations, Supplier Management, and Supplier Diversity. Led by the Head of Procurement, the team is responsible for negotiating deals that provide goods/services at the best possible price and terms, developing procurement policies/processes, implementing and maintaining the Procurement Tech Stack, and collaborating with various teams to perform due diligence on purchases.

As a Senior Strategic Sourcing Manager at Upstart, you will support the sourcing function working with various stakeholder groups on developing and executing on your customers' procurement pipeline. This will include but not limited to analyzing spend data, conducting market research, carrying out competitive bidding events - both large and small, building key relationships with stakeholders and suppliers, and streamlining the engagement process. You will negotiate and review commercial terms of purchases and collaborate with various SME groups in delivering on your goals and objectives.

Position location This role is available in the following locations: Remote

Travel requirements As a digital first company, the majority of your work can be accomplished remotely. The majority of our employees can live and work anywhere in the U.S but are encouraged to still spend high quality time in-person collaborating via regular onsites. The in-person sessions' cadence varies depending on the team and role; most teams meet once or twice per quarter for 2-4 consecutive days at a time.

How you'll make an impact:

• Conduct detailed market/supplier research, perform data analysis, review and comprehend Company spend, communicate findings through meaningful research summaries

• Develop Category and Stakeholder Engagement plans for assigned business units

• Perform cost modeling, RFx strategy development and creation

• Project manage sourcing projects and RFx processes to meet stakeholder project timelines

• Conduct negotiations (both commercial and contractual) and supplier performance management

• Manage total contract lifecycle including RFP creation, negotiation, execution, ongoing management of all new and existing agreements to ensure business needs are met while minimizing risk to Upstart.

• Perform contract reviews of commercial terms (including redlining and driving deal execution)

• Interact with key SME groups, e.g., Legal, Infosec, Compliance, etc., articulating areas of concern and developing language that minimizes risk for the Company while driving closure of open items.

• Actively participate in team initiatives, including but not limited to supplier rationalization, cost savings initiatives, risk mitigation, assessing supplier financial viability, demonstrating and communicating the value of Procurement

• Perform total cost of ownership evaluations, pricing audits, buy vs. lease evaluations pursuing continuous cost improvements

• Drive stakeholder engagement

• Collaborate with all levels and provide guidance securing a position as a Trusted Advisor

• Effectively communicate and document the impact of sourcing decisions to internal stakeholders and leadership, as appropriate

What we're looking for:

• Minimum qualifications:

• 7+ years relevant experience

• Prior experience negotiating technology agreements including a broad range of services

• High energy and ability to operate with a sense of urgency

• Ability to influence stakeholders

• Excellent quantitative skills with the ability to dissect problems and provide various solutions

• Demonstrated skills in rigorous, fact-based analysis that drive creative problem solving, proposal preparation, and negotiation

• Ability to drive deals to execution with excellent attention to detail

• Working knowledge of GSuite and Microsoft Suite

• Able to take initiative in a fast-paced work environment and to interface with all functions and at all levels within and outside the company

• Knowledge and previous experience with eSourcing tools, P2P, contract management database systems, ZIP a plus

• Ability to effectively communicate both verbally and in written form

• Bachelor's degree in Finance, Business, Supply Chain or equivalent line of business

• Team player and self-starter with a can-do attitude

• Preferred qualifications:

• Master's degree in Finance, Business, Supply Chain or equivalent line of business

• 10+ years in an indirect procurement function

• Prior experience managing procurement teams

• CPM/CPSM a plus

What you'll love:

• Competitive Compensation (base + bonus & equity)

• Comprehensive medical, dental, and vision coverage with Health Savings Account contributions from Upstart

• 401(k) with 100% company match up to $4,500 and immediate vesting and after-tax savings

• Employee Stock Purchase Plan (ESPP)

• Life and disability insurance

• Generous holiday, vacation, sick and safety leave

• Supportive parental, family care, and military leave programs

• Annual wellness, technology & ergonomic reimbursement programs

• Social activities including team events and onsites, all-company updates, employee resource groups (ERGs), and other interest groups such as book clubs, fitness, investing, and volunteering

• Catered lunches + snacks & drinks when working in offices

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