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TITLE

 

Sr Procurement Manager

COMPANY

 

Lending Club

LOCATION

 

San Francisco, CA, US

Description

LendingClub (NYSE: LC) opened in 2007 with one simple mission: create a more efficient, transparent and customer-friendly alternative to the traditional banking system that offers creditworthy borrowers lower interest rates and investors better returns. Today, we’re the world’s largest online credit marketplace, and we’re radically changing the way lending operates. We’re proud of the recognition we’ve received, including being named a World Economic Forum Technology Pioneer, a CNBC Disruptor 50, and one of The World’s 10 Most Innovative Companies in Finance by Fast Company. We’re conveniently located in downtown San Francisco, California.

In the Third Party and Vendor Management team, we have several functional areas: Sourcing, Third Party Monitoring & Oversight, Purchasing, Contract Management and Travel. The team’s goal is to maximize third party performance and value through strong business partnerships, from vendor selection and contracting through ongoing monitoring and vendor off boarding.

Job Description:

In this role, you will be responsible for developing, executing and running sourcing, negotiation and vendor management activities across all strategic sourcing categories. This includes cultivating relationships with LendingClub partners at all levels-- developing, maintaining and executing category sourcing plans for targeted categories such as professional services and technology. The Sr. Manager will handle all aspects of the strategic sourcing lifecycle in collaboration with business partners, Risk SMEs and Legal, as well as identify and take on savings and value creation opportunities across all categories. Responsibilities will include planning and vendor selection (including RFI’s & RFP’s, Reverse Auctions), risk assessment, pricing and contract negotiations, handling due diligence, and quarterly/annual business reviews. The role will include collaborating with various business leaders to develop and execute category plans and sourcing strategies that minimize vendor risk while optimizing vendor economics and outcomes. This role will report to the Sr. Director, Third Party and Vendor Management.

Responsibilities:

  • Category Management Strategy and Planning: Develop and lead procurement strategies for target categories as identified through analytics
  • Supplier/Vendor Strategy: Plan, source and select new vendors, optimize relationships with existing vendors
  • Negotiation: Work quickly but effectively to negotiate the best available price and terms to meet savings goals, minimize risk and ensure compliance
  • Contract Strategy and Execution: Understand key terms, lead contract negotiations, establish critical metrics and define SLA’s
  • Optimization of Economics: Own and develop financial analytics to support negotiations and/or purchasing activity, drive continual productivity improvement
  • Risk Assessment and Due Diligence: Lead the risk and due diligence process to move the vendor through the various stage gates from identification to contracting
  • Process and Execution: Develop, select or implement processes and tools to support the Third Party and Vendor Management Program

You:

  • Skillful Negotiator. You are a seasoned negotiator. You have fine-tuned the art of leveraging contract and spend data to identify and target savings opportunities, and executing on goals.
  • Leader and Doer. You can independently seek information, solve conceptual problems, corral resources and deliver results in challenging situations. You are known as someone who rolls up your sleeves and “gets stuff done.”
  • Problem Solver. You have strong problem-solving and analytical skills. You are a strategic and creative thinker.
  • Excellent Communicator and Project Manager. You can easily communicate, negotiate, direct, plan, and organize effectively across all levels of an organization and influence thinking and outcomes.
  • Athlete. You can play a wide-variety of roles to get the job done.
  • Fast Mover. We move fast... you are nimble with the ability to take decisive action to address business needs that meet corporate business objectives. You are ready and excited to learn on your feet and help build a growing business.
  • Energetic Collaborator. You are highly collaborative and thrive in a cross-functional role.

Must-Haves:

  • Bachelor’s Degree required
  • 7+ years of experience in strategic sourcing with fine-tuned business term negotiation skills
  • Top-notch communication and organization skills, including experience deriving insights through data with senior management or executives
  • Self-starter with ability to own projects from initial inquiry to completion

Nice-to-Haves:

  • Prior technology, financial services or regulated industry experience
  • Familiarity with Federal regulations impacting the Financial Services industry (FDCPA, TCPA, OCC, etc.)
  • Experience in a high growth technology environment
  • Professional accreditation in sourcing or procurement

 

 

LendingClub is an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status. We believe that a variety of perspectives will make our teams and business stronger, as we work together to empower those who strive to achieve financial success.

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