Sourcing Associate
Wells Fargo · Hyderabad · onsite · Posted 41d ago
Undisclosed2–7 yrsfulltimeSourced from
About a minute. You'll make an account on the way through.
About this role
Job Summary
Wells Fargo is seeking a Sourcing Associate.
Responsibilities In this role, you will:
- Manage and administer the relationships for assigned low risk vendors and suppliers
- Plan and implement purchasing activities, measure, monitor, and report performance levels, completing vendor or supplier evaluations and scorecards
- Conduct review meetings as a tool for improving supplier performance, and escalate and resolve customer service issues with the supplier or vendor
- Work with experienced sourcing consultants to identify ways to improve supply chain performance including cost savings, quality improvements, and discount programs
- Identify improvements in tools and processes to streamline and automate the supply or commodity management process
- Understand vendor management and sourcing practices
- Work with contract negotiations and vendor relationships of low to medium complexity
- Complete work under direction of more experienced staff
- Act as focal point for low risk sourcing and vendor management activities
- 6+ months of Sourcing experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
- Strong experience in Supply Chain Management.
- Knowledge of contract drafting and negotiating vendor legal terms and conditions
- Strong Experience in negotiation of commercial terms.
- Cross-category experience is preferred.
- Develops Strategic Sourcing strategies and lead contract negotiations for medium to high-risk products / services.
- Well versed with contract principles and drafts non-standard contract terms and conditions
- Review, draft and negotiate Master Agreements, Statement of Works, Change Orders, Amendments and similar contracts
- Research vendor contracts to identify existing relationships, rights, risks and proactively identifies and analyzes cost savings opportunities.
- Identifies and escalates risk-related issues and identifies alternative options/solutions.
- Partner with business groups to issue/evaluate RFx opportunities and conduct reverse auctions.
- Establishes supplier evaluation/selection criteria and coordinates supplier due diligence activities.
- Maintains current status and engagement information related to active engagements in Strategic Sourcing systems.
- Ensures meeting all internal policies pertaining to contracts
- Ensurecontractsclearly specify the right and responsibilities of each party to the contract
- Ensures compliance with legal and regulatory requirements such as data protection including customer supervisory information (CSI), Gramm-Leach-Bliley Act (GLBA) to protect customer personal information, etc.
Sourced from naukri
Skills
Customer ServiceDue DiligencepurchasingStrategic Sourcingdata protectionFinancial CrimesRisk IdentificationCommodity ManagementRegulatory ComplianceResearchLegalContract DraftingcomplianceCustomer Relationships
About Wells Fargo
Wells Fargo
Financial Services
20k+
employees
1852
174 years old
Bengaluru/Bangalore, Karnataka
India
About
Wells Fargo works to create positive social impact in the communities it serves by supporting housing affordability, small business growth, financial health, and a low-carbon economy.
Industries
Financial Services
Employee ratings
8,681 reviews
3.6/ 5
Culture
3.5
Career growth
2.9
Work-life
3.8
Employees rate it well for
Work Life Balance1417Work Culture906Senior Management755Salary707Job Security510
Find them on