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Vice President, Strategic Sourcing

Company: Prudential Financial, Inc.
Location: Newark
Posted on: September 23, 2022

Job Description:

Job Classification:Reporting to the Chief Procurement Officer, the Vice President - IT Procurement is accountable for developing, managing, and executing the sourcing strategy across all IT categories of spend (Software, Hardware, Telecoms & Labor) globally for Prudential. This leader will be an integral member the Global Sourcing and Procurement leadership team as well as an extended member of the Global Technology leadership team. The Strategic Sourcing Lead will be responsible for:

  • Leadership of the IT Procurement team of 20+ employees, management of $800M spend globally and supporting global technology (GT) in setting strategic direction, and identifying, prioritizing, and pursuing short- and long-term sourcing opportunities.
  • Leading a high performing team in the sourcing of suppliers against business requirements for complex, high risk and/or enterprise critical engagements that may have significant impact to Prudential's operations or profitability.
  • Excellent strategic stakeholder management, this position will be a member of the extended Global Technology senior leadership team and be tasked with gaining a deep understanding of the business strategy to ensure resulting sourcing strategies are in place to drive the greatest value from the external marketplace. Establishing the role as challenging business partner to the Global Technology senior leadership team with the ability to establish meaningful relationships and adapt to the challenger model. Impact
    • Develop and lead sourcing strategies that support business requirements, develop savings targets, and driving savings across all categories of IT spend.
    • Drive thought leadership for sourcing of categories by leveraging market and industry intelligence, trends, innovation, and best practices.
    • Recruit, develop and lead a team of high performing category strategic sourcing professionals who are responsible for identifying, prioritizing, and pursuing short and long- term opportunities for specific IT spend categories.
    • Develop supplier negotiation strategies that reflect and maximize Prudential's buying power, focus on service quality/performance and minimize risk exposure. Lead negotiation process for complex, high value transactions.
    • Collaborate with all levels of management, , manage strategic suppliers to achieve optimal value/service/pricing and ensure our strategic direction, operational and quality goals are achieved.
    • Actively participate in achieving the organization's ESG goals including but not limited to Supplier Diversity and Sustainability.Qualifications
      • Bachelor's Degree - MBA or advanced degree and / or relevant supply management certifications desirable.
      • 15+ years in a strategic sourcing function with experience across multiple IT spend categories, with IT Labor specifically
      • 5-10 years of management experience, leading through both authority and influence; including a proven ability to recruit, develop and retain key talent.
      • Proven ability to develop and implement sourcing and procurement strategies, concepts, and governance.
      • Strong and up to date expertise in IT category sourcing including vendor base (market leaders and niche providers), service offerings/differentiation, cost and savings drivers and leading practices/market trends.
      • Strong, approachable executive presence, ability to influence senior executives and to foster productive working relationships with a diverse group of partners and peers.
      • Excellent contract/vendor negotiation preparation and execution skills to achieve desired outcomes from supplier negotiations.
      • Experience managing change across multiple stakeholder groups.
      • Superior analytical ability to quickly gather facts, perform root cause analysis and draw conclusions.
      • Strong conceptual thinking skills with adeptness to lead others through ambiguous and/or complex issues.
      • Superior negotiation and collaboration skills to influence senior leadership on strategic direction, business case value proposition and sourcing recommendations.
      • Ability to build consensus and act as an independent arbiter to achieve sourcing outcomes that meet business requirements without sacrificing service or increasing risk/cost.
      • Superior oral and written communication and interpersonal skills for interaction with senior leadership.-Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit to learn more about our values, our history and our brand.Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law.The Prudential Insurance Company of America, Newark, NJ and its affiliates.Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at for more information about doing business with Prudential.PEOPLE WITH DISABILITIES:If you need an accommodation to complete the application process, which may include an assessment, please email .Please note that the above email is solely for individuals with disabilities requesting an accommodation. If you are experiencing a technical issue with your application or an assessment, please email to request assistance.

Keywords: Prudential Financial, Inc., Newark , Vice President, Strategic Sourcing, Executive , Newark, New Jersey

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