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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 are the main responsibilities of a Sourcing Associate at Wells Fargo?

A Sourcing Associate is responsible for ensuring compliance with legal and regulatory requirements, conducting quality checks on transactional documents, developing strategic sourcing strategies, leading contract negotiations, reviewing and drafting various agreements, identifying cost savings opportunities, and maintaining status and engagement information related to active sourcing engagements.

What qualifications are required for this position?

The required qualifications include a minimum of 6 months of sourcing experience or equivalent demonstrated through work experience, training, military experience, or education.

What desired skills should candidates have?

Candidates should have strong communication and interpersonal skills, excellent networking and negotiation skills, and the ability to structure and communicate decisions to senior management.

Is prior experience in Supply Chain Management necessary for this role?

Yes, experience of more than 6 years in Supply Chain Management is expected for this position.

What knowledge is preferred for this job?

Preferred knowledge includes contract drafting and negotiating vendor legal terms and conditions, strong experience in negotiating legal and commercial clauses, and cross-category experience.

When does the job posting close?

The job posting is set to close on February 10, 2025, but it may come down early due to the volume of applicants.

Does Wells Fargo value diversity and inclusion in hiring?

Yes, Wells Fargo is committed to diversity, equity, and inclusion in the workplace and welcomes applications from all qualified candidates regardless of various protected characteristics.

What is the drug and alcohol policy at Wells Fargo?

Wells Fargo maintains a drug-free workplace and has a Drug and Alcohol Policy in place to support this commitment.

Are accommodations available for applicants with disabilities?

Yes, accommodations for applicants with disabilities are available upon request in connection with the recruitment process.

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.