Flagstar Bank · 11 hours ago
Sr. Strategic Sourcing Manager - Banking Industry
Michigan, United States
Full-time
Onsite
Senior Level, Lead/Staff
$141K/yr - $186K/yr
10+ years expFlagstar Bank is seeking a Sr. Strategic Sourcing Manager to lead and build a best-in-class Strategic Sourcing function. The role involves developing strategies, managing a team of sourcing managers, and optimizing procurement processes to drive cost savings and ensure compliance with regulatory requirements.
BankingFinanceFinancial Services
Responsibilities
Work with key business partners and senior leadership to understand strategic direction, supply requirements and corporate business objectives and priorities. Drive thought leadership in categories providing market and industry intelligence, innovation and best practices to include negotiating & managing contracts. This position is responsible for the strategic sourcing of vendors by identifying vendors for bidding procedures to drive the best possible commercial outcome for the Bank and for negotiations when single-sourced opportunities require negotiation. This includes comparing vendor proposals to industry benchmarks and assisting the business unit in producing market studies to justify price and vendor selection. Plans, develops, directs, and implements complex business strategies through the establishment of short/long-range objectives, change management, performance goals, and metrics for each spend category. Collaborates with Operations, Legal, TPRM/SMEs, Tax, Finance, the Business Units, and other stakeholders as needed to champion enterprise wide cross-functional sourcing initiatives
Identifying savings opportunities. Is responsible for optimizing committed spends on behalf of the company by directing spend analysis across commodity categories and working with various business units throughout the Bank to proactively identify opportunities for enterprise-wide relationship management and commodity specific optimization of spend
Analytical reporting. Lead the utilization of appropriate analysis methods used in the decisioning process that helps to decipher and determine vendor consideration, selection and performance. e.g. Total Cost of Ownership (TCO), commodity or service matrix comparisons, risk profiles and quality considerations. Assures proper analysis and application of internal and external industry specific research information to determine Bank direction in designated categories including reasons for pricing increases and/or decreases. Conducts benchmarking, financial and business analytics for long range pricing and buy rationalizations
Problem resolution, Assist the business unit in problem, cause & solution resolution and to assist where appropriate in solving and or mitigating problems and problems associated with vendors, their services and products
Policy and Process. Policy and Process build and maintenance to align with and support compliance with regulatory requirements and guidelines (OCC, FFIEC, FDIC, etc.) and internal Bank policies and procedures, Coupa system optimization, controls and data quality assurance, and maintenance of procedures, desk guides, reporting and training/presentation materials as needed
Special Projects. Special projects and program management as assigned which will include: OCC/Regulator audit, Internal Audit, Coupa CRA, alignment with end-to-end Source to Pay, Diversity and Inclusion activity reporting, and Bank M&A activity
Team Professional Development. Supports the talent development of inter-departmental team members and the overall development of cross-functional teams. Supports team member professional development and the overall professional enhancement of the function. Sets the example and conducts training sessions for negotiations, financial reviews, business analytics and general management. Establishes and trains staff on methodologies for strategic sourcing, change management, contract reviews and individual development
Ensures compliance with applicable federal, state and local laws and regulations. Completes all required compliance training. Maintains knowledge of and adhere to Flagstar’s internal compliance policies and procedures. Takes responsibility to keep up to date with changing regulations and policies
Qualification
Required
High School Diploma, GED, or foreign equivalent required
10 - 15+ years experience in supply chain management, contract negotiation, vendor management, and third-party management within a highly regulated environment for large scale financial/banking, mortgage origination/servicing organizations
Ability to productively interact with internal and external levels of management that will include: senior bank officers, vendor account relationship managers, FSB senior and executive level individuals, and/or vendor principles and ownership
Ability to work with key business partners and senior leadership to understand strategic direction, supply requirements and corporate business objectives and priorities. Drive thought leadership across all Bank vendor spend and categories providing market and industry intelligence, innovation and best practices
Ability to deliver consistent delivery of positive results to ensure strategic direction, operational, regulatory compliance, risk, cost and quality goals are achieved
Strong working knowledge and experience with OCC, FFIEC and/or other regulatory guidelines and requirements
Strong understanding and experience in highly effective supplier/third party management activities: 6- or 7-step Strategic Sourcing process including market analysis, supplier identification, selection, negotiation, contracting, risk management, relationship management, financial management, performance management and contract management
Ability to use best judgment and discretion in solving issues and/or satisfying overall Bank together with stakeholder needs when corporate policy and procedures appear absent or silent on the issue(s)
Analytical and passionate in thinking and building vendor spend and opportunity analyses to drive meaningful cost savings across the Bank
Demonstrated capability with excellent verbal and written communication skills, project management, strong analytical and problem-solving skills, multi-tasking in a fast-paced environment and general leadership/management skills
Self-motivated, takes initiative and has the ability to effectively organize, multi-task, and prioritize a wide-array of initiatives and consistently deliver timely results
Proficient to advanced skills with Excel, Word, PowerPoint and Outlook
High integrity and ethics
Preferred
Bachelor's Degree Preferred in Supply Chain Management, Accounting, Finance, or Business Administration
Benefits
Medical
Dental
Vision
Life
Disability insurance
Comprehensive leave program
Company
Flagstar Bank
Thank you for visiting Flagstar Bank, N.A. on LinkedIn, and we look forward to being part of your financial journey.
5001-10000 employees
H1B Sponsorship
Flagstar Bank has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2025 (39)
2024 (42)
2023 (41)
Funding
Current Stage
Public CompanyTotal Funding
unknown2021-04-26Acquired
2001-07-12IPO
Leadership Team
Gregg Christenson
Executive Vice President and CFO for Community Banking
R
Randal Turner
SVP & Chief Financial Officer, Loan Servicing and Shared Services
Recent News
2025-11-12
2025-11-07
Company data provided by crunchbase