Truist Cost Supplier Management Stategist 

United States, North Carolina, Charlotte 

401227699

Regular or Temporary:

English (Required)

Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.

• Develop and lead the execution of supplier management strategies that align with Truist's long-term business objectives.
• Collaborate with senior leadership to identify strategic supplier opportunities and ensure they are effectively leveraged to drive business success.
• Design and implement frameworks for evaluating supplier performance and developing continuous improvement plans.• Serve as the strategic point of contact for the organization’s most critical and high-value suppliers.
• Build and maintain executive-level relationships with suppliers, ensuring alignment with Truist’s strategic goals and fostering long-term partnerships.
• Lead negotiations in collaboration with sourcing with strategic suppliers, ensuring terms are favorable and contribute to Truist’s competitive positioning.• Oversee the development of cost management strategies across the supplier portfolio, ensuring the delivery of financial objectives.
• Identify and execute high-impact cost-saving initiatives, balancing cost efficiency with the need for quality and innovation.
• Collaborate with finance and procurement teams to optimize the financial impact of supplier engagements, including budgeting, forecasting, and reporting.• Develop and implement comprehensive risk management strategies to mitigate potential risks associated with strategic suppliers.
• Ensure compliance with all regulatory requirements, internal policies, and industry standards related to supplier management.
• Lead the development of contingency plans to manage disruptions in the supply chain.• Establish and monitor key performance indicators (KPIs) to assess the effectiveness of strategic supplier relationships.
• Lead initiatives to continuously improve supplier performance, including the development and enforcement of Service Level Agreements (SLAs).
• Provide strategic insights and recommendations to senior leadership based on performance data and industry trends.• Stay informed on industry trends, emerging technologies, and market conditions to inform supplier strategy and drive innovation.
• Lead efforts to integrate new technologies and best practices into Truist’s supplier management processes.
• Identify and capitalize on opportunities to enhance Truist’s supplier management framework through innovative approaches and solutions.• Work closely with cross-functional teams, including procurement, finance, legal, and operations, to ensure a cohesive approach to supplier management.
• Act as a strategic advisor to internal stakeholders on supplier-related issues, providing expert guidance and support.
• Lead cross-functional initiatives aimed at enhancing supplier management practices and achieving broader organizational goals.• Provide leadership and mentorship to the Supplier Management team, including the Cost and Supplier Management Consultants.
• Foster a culture of excellence, collaboration, and continuous improvement within the team.
• Support talent development initiatives to build a strong pipeline of future leaders in supplier management.• Prepare and present high-level reports on supplier performance, cost management, risk mitigation, and strategic initiatives to senior leadership.
• Ensure effective communication of supplier management strategies and outcomes across the organization.

The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

1. Bachelor’s degree and ten years of IT service delivery with experience managing complex, IT supplier relationships; or an equivalent combination of education and work experience.
2. Deep specialized and/or broad functional knowledge. Sound understanding of business and organizational strategies and processes.
3. Ability to interpret internal and external business challenges and recommend best practices. Ability to lead complex projects.
4. Sophisticated analytical skills and the ability to solve complex technical and business problems.
5. Ability to influence others at senior levels to adopt a new perspective.

1. Bachelor’s degree and thirteen years of experience or an equivalent combination of education and work experience.
2. Masters degree in Business Administration, Supply Chain, Finance, or Accounting
3. Banking or financial services experience.