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Sourcing Associate

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  • Job
    Full-time
    Senior Level
  • Logistics
    Business, Operations & Strategy
  • Hyderabad, +1

Requirements

  • 6+ months of Sourcing experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
  • Strong Communication and Interpersonal skills.
  • Excellent networking and negotiation skills
  • Ability to structure and communicate decisions to senior management
  • Experience of more than 6+ years in Supply Chain Management.
  • Knowledge of contract drafting and negotiating vendor legal terms and conditions
  • Strong Experience in negotiating legal and commercial and legal clause
  • Cross-category experience is preferred.

Responsibilities

  • 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.
  • Conduct Quality Check on transactional documents
  • 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 obligations
  • Proactively identifies and analyzes cost savings opportunities.
  • Identifies and escalates risk-related issues and identifies alternative options/solutions.
  • Maintains current status and engagement information related to active engagements in Strategic Sourcing systems.
  • Ensures meeting all internal policies pertaining to contracts
  • Ensure contracts clearly specify the right and responsibilities of each party to the contract

FAQs

What is the primary responsibility of a Sourcing Associate at Wells Fargo?

The primary responsibility is to ensure compliance with legal and regulatory requirements, conduct quality checks on transactional documents, develop strategic sourcing strategies, and lead contract negotiations, among other related tasks.

What required qualifications are necessary for this role?

The required qualification is 6+ months of sourcing experience or equivalent demonstrated through work experience, training, military experience, or education.

What desired qualifications would enhance a candidate's application?

Strong communication and interpersonal skills, excellent networking and negotiation skills, and the ability to structure and communicate decisions to senior management are desired qualifications.

What experience is expected for a candidate applying for this position?

Candidates are expected to have more than 6+ years of experience in Supply Chain Management along with knowledge of contract drafting and negotiation of vendor legal terms and conditions.

What types of contracts will the Sourcing Associate be expected to work with?

The Sourcing Associate will review, draft, and negotiate Master Agreements, Statements of Work, Change Orders, Amendments, and similar contracts.

What is the emphasis placed on employees in this role?

Employees are expected to support strong customer relationships while maintaining a risk-mitigating and compliance-driven culture, effectively following applicable risk programs and Wells Fargo policies.

Is diversity and inclusion valued at Wells Fargo?

Yes, Wells Fargo values diversity, equity, and inclusion and welcomes applications from all qualified candidates regardless of various protected characteristics.

What should applicants with disabilities do during the application process?

Applicants with disabilities can request a medical accommodation during the application or interview process by visiting Disability Inclusion at Wells Fargo.

What is Wells Fargo's policy on drug and alcohol use?

Wells Fargo maintains a drug-free workplace and has a Drug and Alcohol Policy outlining its stance on substance use.

When does the job posting end?

The job posting ends on February 10, 2025, although it may be taken down early due to the volume of applicants.

Finance
Industry
10,001+
Employees
1929
Founded Year

Mission & Purpose

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with approximately $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through more than 7,300 locations, 12,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in over 40 countries and territories to support customers who conduct business in the global economy. With approximately 250,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 41 on Fortune’s 2022 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories. Relevant military experience is considered for veterans and transitioning service men and women. Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation. © 2016 Wells Fargo Bank, N.A. All rights reserved. Member FDIC.