|Director, Strategic Procurement Contract Management|
Company: Truist Financial
Location: Atlanta , GA
Employment Type: Full Time
Date Posted: 02/27/2021
Expire Date: 04/27/2021
Job Categories: Banking
Director, Strategic Procurement Contract Management|
As the Department Head, provide leadership and management oversight for the third party contracts supporting negotiation of the corporation’s contracts with its suppliers. Work with Truist Legal and Third Party Risk Management to ensure that there is an adequate coverage model and effective processes for the designated functional areas within the Sourcing & Supply Management organization to ensure risk management, strategic regulatory compliance, resource management and consistent negotiation of contract terms commensurate with the risk of each supplier engagement.
Organize, direct and manage the activities of a team of 10-12 strategic contract negotiation professionals and serve as key escalation point for complex inquiries regarding contract interpretation, negotiation issues and risk issues.
Partner with Truist Legal, Third Party Risk Management and other leaders within Sourcing and Supply Management to provide risk analysis and design strategies to minimize legal and regulatory risk to Truist through the design of robust vendor contract templates, policies, processes and controls.
Evaluate the design of internal controls in Truist contracts with its suppliers and exercise sound judgment and discretion where necessary in order to identify key risks to Truist related to supplier contracts. Establish controls to mitigate such risk and establish departmental processes to operationalize the controls.
Assignment of duties, and creation and implementation of policies across contract negotiation team to ensure efficient execution of supplier contracts within the bounds of regulatory guidance and Truist risk appetite, and periodically assess and revise established operational process in order to optimize departmental efficiency.
Provide advice to Truist business units and senior leadership on complex contractual and risk issues, and policy compliance matters.
Maintain a working knowledge of key rules/regulations related to contract requirements from major bank regulators (e.g., Federal Deposit Insurance Corporation (FDIC), the Federal Reserve, the Office of the Comptroller of the Currency (OCC), and the Consumer Financial Protection Bureau (CFPB)). Understand and stay up-to-date on industry trends related to the management of contractual risk.
Set performance standards, evaluate work performance and take action to recognize excellence and correct deficiencies for contract negotiation team
Develop staff through training, assignments and mentoring. Provide periodic training on departmental processes and contract drafting skills, including the identification of risk elements, content and interpretation of Truist contract templates and risk tolerances.
Juris Doctor degree and 6-8 years of experience practicing law or working in a corporate legal or risk management environment Bachelor’s degree in business-related field or equivalent education and related training Prior experience with negotiating contracts and a strong understanding of contractual legal terms, their interdependencies, and resulting risk profiles. Proven ability to manage personnel, projects and processes Demonstrated ability to engage business partners and cross-functional team members to deliver actionable results to advance vision Excellent relationship management skills to work successfully across the corporation and to maintain the trust and confidence of senior leadership Strong verbal and written communication skills with the demonstrated ability to articulate complex legal concepts in easy to understand business terms
Prior experience in the financial services industry
BB&T and SunTrust formed Truist with a shared purpose—to inspire and build better lives and communities. With our combined resources, collective passion, and commitment to innovation, we’re creating a better financial experience to help people and businesses achieve more. With 275 years of combined BB&T and SunTrust history, Truist serves approximately 12 million households with leading market share in many high-growth markets in the country. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Headquartered in Charlotte, North Carolina, Truist is the sixth-largest commercial bank in the U.S.