HYDERABAD · FULLTIME
Sourcing Associate
Wells Fargo
Hyderabad · onsite · Posted 27d ago
Sourced from
Undisclosed2–7 yrsfulltimeHyderabad
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Section · 01
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
Section · 02
Skills
Customer ServiceDue DiligencepurchasingStrategic Sourcingdata protectionFinancial CrimesRisk IdentificationCommodity ManagementRegulatory ComplianceResearchLegalContract DraftingcomplianceCustomer Relationships
Section · Company
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
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