Strategic Sourcing Manager
As Marqeta’s Strategic Sourcing Manager you will be responsible for helping build and support a procurement/strategic sourcing program that maximizes value from our vendor relationships and manages our third party vendor risk. We are looking for someone who is highly motivated to help us build new systems, processes, and improve efficiency . The Strategic Sourcing Manager will work closely with colleagues and teams across the company to support centralized direct and indirect sourcing and procurement efforts, including responsibility for supporting process creation, strategic sourcing and vendor identification, contract negotiation, ongoing monitoring, RFPs, and relationship management.
The ideal candidate will be someone who is enthusiastic, flexible, detail-oriented, a strategic thinker, passionate about creative problem solving, is exceptional at working cross-functionally, and thrives in a fast-paced, dynamic environment with many challenges and opportunities.
We work Flexible First. This role can be performed remotely anywhere within Toronto or Vancouver Canada. We’d love for you to join us!
The Impact You’ll Have
- Support and refine Marqeta’s strategic sourcing and vendor management vision, processes, and tools.
- Provide strategic guidance and support in procurement/strategic sourcing activities, including contract negotiation, administration, amendment and cancellation, and coordinating activities with the legal, compliance, security, and finance teams, as appropriate.
- Establish and monitor performance metrics relating to the strategic sourcing/procurement program and vendor performance, address any areas of concern, and promptly escalate critical issues to senior management.
- Continuously identify and drive opportunities to optimize strategic sourcing and vendor management processes without compromising quality, risk management, or service levels.
- Conduct savings analyses and modeling to prioritize procurement savings opportunities, build recommendations, and track savings achieved as a result of strategic sourcing initiatives.
- Identify and assess potential risks associated with vendor relationships and implement risk mitigation strategies and contingency plans.
- Serve as a point of contact for vendor communications, negotiations, and conflict resolution. Coordinate with internal teams to provide support and guidance on vendor-related matters and oversee the resolution of any issues.
- Lead and manage RFP processes with key business owners from start to finish, identifying and vetting potential vendor partners, performing market research and benchmarking, and managing bidding.
- Coordinate stakeholder engagement and reinforce a sense of purpose in relation to strategic sourcing/vendor management initiatives.
- Maintain strong working relationships with internal and external stakeholders to ensure cost, quality, and delivery targets are met.
- Support the monitoring of vendor compliance with industry regulations and company policies.
- Support the company’s sustainability and business continuity through active sourcing of suitable vendors.
Who You Are
- 5+ years of experience in strategic sourcing and vendor management. This experience should ideally be within Payments, FinTech, Banking, and/or SaaS-based technology companies. A diverse mix of experience across these industries is highly desirable, as opposed to experience solely within the banking sector.
- Proven track record of leading contract negotiations. This includes experience in managing redlines, ensuring the inclusion of appropriate provisions, and safeguarding the organization's interests. Strong negotiation skills and a keen eye for detail are essential for this role.
- Understanding of the regulatory requirements and risk management processes in the payments/fintech/banking industry.
- Proven ability to thrive in a fast-paced environment and handle a high volume of work. Must be able to prioritize tasks effectively, maintain a high level of productivity, and meet tight deadlines without compromising the quality of work.
- Experience working with vendor-supplied contracts ("vendor's paper"). This includes the ability to review, negotiate, and manage contracts provided by vendors, ensuring that all agreements align with company interests and compliance requirements.
- Experience building strategic sourcing/vendor management programs from scratch.
- Able to operate without already defined or established processes, tools, or templates.
- Excellent interpersonal skills and communication skills.
- Able to influence and guide decisions across multiple cross functional teams.
- Proven project management skills with analytical and problem solving abilities to identify business drivers and develop and implement strategies.
Your Manager
Typical Process
- Application submission
- Recruiter video call
- Hiring manager video call
- Virtual “Onsite” consisting of 4-5, 45 min calls
- Offer!
Compensation and Benefits
Marqeta is a Flex First company which allows you to choose your best working environment, whether that be from home or at a company office. To support Flex First, we calibrate pay to a competitive value according to working location.
When determining salaries, we consider several factors including, but not limited to, skills, prior experience, and work location. The new-hire base salary range for this position, reflected in CAD, is: 106,000 - 132,500.
We also believe in recognizing the contributions of our people. That's why we award annual bonuses to eligible employees, rewarding both individual performance and the success of the entire company.
Along with monetary compensation, Marqeta offers
- Multiple health insurance options
- Flexible vacation time
- Retirement savings program with company contribution
- Equity in a publicly-traded company
- Monthly stipend to support our remote work model
- Annual “development dollars” to support our people growth and development
- Family-forming benefits and up to 20 weeks of Parental Leave
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