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Analyst-Procurement

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American Express

7d ago

  • Job
    Full-time
    Senior Level

AI generated summary

  • You need 5-7 years of experience in finance, a bachelor’s degree, and a law degree is a strong plus.
  • You will manage sourcing projects, build stakeholder relationships, negotiate contracts, ensure compliance, mentor team members, and drive value creation through effective procurement strategies.

Requirements

  • 5 - 7 years of work experience in a reputed financial organization
  • Bachelor’s degree
  • A degree in law will be a strong plus.

Responsibilities

  • Independently handle Contract and Sourcing Delivery engagements including delivering the most effective process for achieving maximum value for the business through the contracting and sourcing processes as guided by the American Express Policy for Third Party Management (AEMP10) and established processes within SS&BE.
  • Build and maintain stakeholder relationships with the American Express businesses, across peer groups, stakeholders including GCO, TLM, Tax, Compliance, and Insurance in multiple markets, as well as act as a first point of contact for third party’s during contract negotiations and Sourcing events.
  • Build and leverage knowledge as well as experience of third parties, industries, and service categories to find opportunities that can contribute (performance improvement, demand generation, process reengineering, cost reduction, revenue drivers) to American Express businesses. Create and present compelling business case for change (when needed) to leaders.
  • Lead Sourcing Events and be responsible for the project end to end for American Express business using including but not limited to defining requirements, development SOW, supplier sourcing, RFx events, communication plan, change plan etc. Act as primary point of contact for overall Sourcing project and work across stakeholders to ensure timely delivery and effective communication exchange.
  • Lead effective supplier negotiations (including but not limited to commercial and contractual) to drive value and competitive advantage for our business partners. Partner with AXP SME groups to assess and identify contractual risks and drive negotiation to achieve favorable terms for American Express.
  • Support strong supplier governance by accurately identifying supplier risk for each engagement, guide American Express Business Unit on Third Party Life Cycle Management (TLM) program and work closely with TLM the complete the program requirements.
  • Act as consultant / partner to American Express business units for Sourcing to Contract related activities across commodities/services and provide solution on related matters often with no precedent.
  • Identify and get results cross functionally, cross business units and across the Blue Box that have a major impact on American Express’ revenue and profitability.
  • Lead by example to empower team members and provide team mentorship in supplier/market analysis, applying outstanding procurement practices/tools to capitalize on business opportunities.
  • Be responsible for the inventory of reporting team member and ensure performance and quality review.
  • Drive team’s performance on key performance metrics and ensure regular update on assigned intake to the team.
  • People management and development of reporting team members.
  • Ensures policy and contract compliance in all strategic sourcing projects.
  • Partner with Procurement Operations team and US Category and Sourcing Managers in procurement activities, transactions and in managing customer requests and issues.
  • Partner with cross geographical commodity teams and country teams in the planning, analyzing, sourcing and implementation process.
  • Engage relevant subject matter experts during the contract negotiation process and work to resolve gaps / deviations requested by Supplier.
  • Ensure update to business stakeholders and SmartBuy on regular basis on each assigned intake.
  • Support reporting requirements effectively capturing value creation and B2B wins in the respective tools and strong follow through to complete those wins.

FAQs

What type of experience is required for the Analyst-Procurement position?

A minimum of 5 to 7 years of work experience in a reputed financial organization is required, with preferred experience in procurement specifically related to supplier contract management.

Is a specific academic background preferred for this role?

Yes, a Bachelor's degree is required, and a degree in law is considered a strong plus.

What does the role involve regarding supplier negotiations?

The Analyst-Procurement will lead effective supplier negotiations to drive value and competitive advantage, partnering with subject matter expert groups to assess and identify contractual risks and achieve favorable terms for American Express.

Are there opportunities for team leadership in this role?

Yes, the Analyst-Procurement will be responsible for people management and the development of reporting team members, as well as providing mentorship in supplier/market analysis and procurement practices.

What types of benefits does American Express offer to employees?

American Express offers competitive base salaries, bonus incentives, comprehensive health insurance, retirement support, generous paid parental leave, access to wellness centers, counseling support, and opportunities for career development and training.

How often will I be required to engage with business stakeholders?

Regular engagement with business stakeholders is a key part of the role, particularly in updating them on assigned intake and sourcing projects.

Is there a focus on compliance within the procurement activities?

Yes, the Analyst-Procurement is responsible for ensuring policy and contract compliance in all strategic sourcing projects.

What is the significance of the "third party management" in this position?

The role involves handling Contract and Sourcing Delivery engagements in accordance with the American Express Policy for Third Party Management to maximize value and manage supplier relationships effectively.

Can you explain the process involved in leading sourcing events?

Leading sourcing events includes defining requirements, developing Statements of Work (SOW), supplier sourcing, managing RFx events, and ensuring effective communication and timely project delivery across various stakeholders.

Are there opportunities for career growth within the company?

Yes, American Express prioritizes career development and provides training opportunities for employees to help them grow in their careers.

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American Express

Finance
Industry
10,001+
Employees
1850
Founded Year

Mission & Purpose

At American Express, we know that with the right backing, people and businesses have the power to progress in incredible ways. Whether we’re supporting our customers’ financial confidence to move ahead, taking commerce to new heights, or encouraging people to explore the world, our colleagues are constantly striving to uphold our powerful backing promise to our customers and each other every day. These beliefs have been our North Star for 170 years as our business transformed – from helping evacuate travelers during World Wars, to ensuring the safety of our customers’ funds during the Great Depression in the U.S., to creating the Shop Small® movement to help small businesses recover from the Financial Crisis, to providing aid to communities impacted by many natural disasters and so much more. For generations, the key to our success has been the determination and resilience of our American Express colleagues. Now, as a globally integrated payments company, we work together to provide customers with access to products, insights and world-class experiences that enrich lives and build business success. Join us and let’s lead the way together.

Culture & Values

  • We Back Our Customers

    Relationships are at the heart of our business. We strive to be essential to our customers by delivering exceptional products, services and experiences every day – and promise to have their backs in everything we do.

  • We Make It Great

    We deliver an unparalleled standard of excellence in everything we do, staying focused on the biggest opportunities to be meaningful to our customers. From our innovative products to our world-class customer service, our customers expect the best—and our teams are proud to deliver it.

  • We Do What’s Right

    Customers choose us because they trust our brand and people. We earn that trust by ensuring everything we do is reliable, consistent, and with the highest level of integrity.

  • We Respect People

    We trust and respect one another for who we are and what we contribute. We are accountable to one another and empower every voice through open, courageous dialogue so others feel heard.

  • We Embrace Diversity

    We see diversity of people and experiences as fuel for the creativity and innovation we need to be and deliver our best.

  • We Stand for Inclusion

    We all have biases. However, we do not tolerate bias that excludes or minimizes anyone – all people belong. We’re committed to ensuring that we have a welcoming and inclusive culture where everyone’s voice matters and where people of all races, ethnicities, genders, gender identities, sexual orientations, ages, religions, disabilities and viewpoints can thrive.

  • We Win As a Team

    We view each other as colleagues—part of the same team, striving to deliver the brand promise to our customers and each other every day. Individual performance is essential and valued, but never at the expense of the team.

  • We Support Our Communities

    We respect our communities and are committed to working together so they can thrive and make a meaningful difference in the world.