The Global Procurement team is part of the Global Corporate Services organization. Global Procurement has leading capabilities to deliver and enable procurement strategies and needs for our lines of business. Our operating model is guided by strategy, aligned to the business, is centered on a process and control framework, and is enabled by technology. The Procurement teams are the single point of contact for the businesses across all functional areas and accountable to deliver end-to-end capabilities across the Third Party Process lifecycle.
This role sits within our Front Line Procurement (FLP) organization which is the organization that supports our customer-facing lines of business. Specifically, the line of business supported here is Wealth Management which includes Merrill, Retirement & Personal Wealth Solutions (RPWS), Private Bank and the Investment Solutions Group (ISG). The role will be responsible for negotiating complex deals from inception to completion. Performs research to obtain market knowledge, uses experience to develop and execute intricate procurement strategies and assigns roles and responsibilities to BAC team members. Viewed as a trusted advisor by the Front Line Unit (FLU)/Control Function (CF), has the knowledge to maximize the competitive marketplace and is able to achieve significant cost savings. Demonstrates knowledge of the end to end third party risk management lifecycle and ensures the FLU/CF understands and is prepared to manage the risk of contracted goods and services. Exhibits broad subject matter expertise with the capability to handle any commodity or FLU/CF. Leverages current and future business requirements, market intelligence, and historical spend information to develop innovative category strategies that drive a simplified supply base, business value and cost reduction. Supports FLU/CF personnel in effectively implementing the Third Party Policy, including FLU's/CF's effective use of third parties. May also be responsible for supporting FLU/CF throughout the third party lifecycle third party governance actives and other program requirements.
Required Skills & Experience:
3+ years of procurement or category management experience, preferably in the financial services sector or 3+ years relevant business experience pertaining to the in-scope categories
Ability to manage data, analyze information to identify critical risks, and report analysis to executive-level audiences
Proven track record of leading procurement or category management activities and/or relevant business activity
Proven ability to communicate, partner and influence across a matrix organization
Advanced communication and collaboration skills
Ability to communicate concepts and ideas both verbally and in written form, including, but not limited to, e-mails, narratives in Ariba, white papers and presentations
Must be able to work independently and set goals/prioritized focus and time management skills
Ability to work well on a team, as well as manage multiple priorities in quick time frames
Skilled user of MS Office suite (Excel, PowerPoint, Project, etc.)
Desired Skills & Experience:
Possesses an ability to think creatively / critically and connect ideas, events and circumstances to provide procurement solutions
Prior experience procuring technology hardware or services
Six Sigma Black or Green Belt certification
Certified Professional in Supply Management (CPSM), Certified Purchasing Manager (CPM) or equivalent certification
1st shift (United States of America)
Hours Per Week:
Internal Number: 21028311
About Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses, and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world.