Job description
Job Family
Procurement
Who We Are
Transamerica has been helping people feel better about the future for more than 100 years. We provide investment, retirement, and life insurance solutions to more than 11 million customers throughout the U.S. But the way we see it, our responsibility goes beyond our clients’ accounts. We’re in the business of helping people live well and empowering them to create a better tomorrow through the financial and health-related habits they form today. We help people prepare by providing solutions that consider the whole picture.
What We Do
Transamerica is organized by lines of business (Life Insurance, Annuities, Mutual Funds, Retirement Plans, Employee Benefits, and Financial Assets), which are supported by Transamerica Corporate (Corporate Development; Finance; Internal Audit; Legislative, Regulatory & Policy; Office of the CEO; People, Places & Brand; Risk; and Technology).
Job Description Summary
Help our procurement team move up the value chain and become trusted advisors to the business. Develop, implement, and execute a technology strategic sourcing and category procurement program. Drive continuous improvement of the overall technology sourcing end-to-end lifecycle by implementing industry best practices to reduce spend, reduce risk, and increase process efficiency and effectiveness for our internal business partners and strategic relationships. Manage and monitor supplier relationships across the multiple business units. Ensure principles and approaches to management, oversight and governance of suppliers is aligned across procurement and with strategic business objectives. Implement best practices that maximize efficiencies and ensure spend visibility and control, quality, cost savings, cost avoidance, and supplier-driven value creation while building and maintaining positive, long-term, strategic supplier partnerships.
Job Description
Responsibilities:
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Develop and implement overall sourcing strategy under the guidance of executive leadership.
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Hire, train, and develop staff to achieve strategic sourcing, procurement, and category management strategies, conducts performance reviews, and assure that all business goals and objectives are achieved with first time quality.
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Partner with stakeholders to engage at the planning stages of new initiatives, recommend and implement category procurement and commodity sourcing strategies to enable strategic objectives of the business.
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Lead cross functional teams to develop and execute local or global strategies covering technology categories and commodities across a broad customer base, implementing the strategic sourcing, procurement, and category management program, developing RFx solicitations, evaluating bids and recommending best available options, negotiating contracts, and monitoring supplier performance.
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Identify, analyze, and recommend strategic sourcing and category management solutions that support strategic objectives such as supplier stratification, supply base rationalization, supplier-driven innovation, and access to needed technology solutions.
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Partner with leadership to develop effective supplier relationships that ensure high performance and competitive pricing, executing governance with suppliers, and resolving disputes.
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Negotiate contract provisions for initial agreements and ongoing amendments, facilitating coordination between internal and external stakeholders.
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Create, issue, and manage the RFx process. Manage proposal, evaluation, final supplier selection, and negotiation process while partnering with business stakeholders.
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Interpret supplier contracts, participate in contract change negotiations, and monitor fulfillment of supplier contractual obligations and deliverables.
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Implement and on-board suppliers.
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Monitor supplier performance and facilitate communications between stakeholders to ensure business expectations are met.
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Partner with the vendor management team to govern contracts, remediate value leakage, and deliver expected supplier performance.
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Champion and execute vendor management best practices to maximize the value of supplier relationships.
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Continually identify and implement new opportunities for cost savings, cost avoidance, and supplier-driven value creation, and proactively tracks progress towards these objectives. Prepare and present business cases, return on investment models, and change management programs to stakeholders and senior management. Implement and measures cost savings, reduction, and avoidance programs and strategies. Continually refine these programs to deliver optimal results for the company.
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Lead negotiations with suppliers, contractors, and partners.
Qualifications:
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Bachelor’s degree in business administration, operations management or a related field, or equivalent experience.
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Broad business perspective with ten years of experience in category procurement, strategic sourcing, supplier management and contract management.
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Experience with supplier identification, selection and negotiation process.
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Knowledge of supplier management best practices and industry trends.
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Written, verbal communication and interpersonal skills requiring a balance of assertiveness, tact and diplomacy.
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Ability to lead difficult conversations and collaborate, facilitate and achieve consensus among key stakeholders.
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Ability to work effectively and cultivate relationships across all levels of the organization and external parties.
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Ability to work with teams across geographic locations.
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Ability to manage ambiguous situations and drive towards clarification.
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Analytical and problem-solving skills, and attention to detail.
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Ability to work under pressure, set priorities and meet deadlines in a rapid-paced environment.
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Strong business acumen and proven ability to put strategic plans into operations, influence others and drive change.
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Self-motivated and the ability to manage multiple projects and support activities within a single job function.
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Supervisory and/or budget responsibility.
Preferred Qualifications:
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Certified Sourcing Professional (CSP), Certified Outsourcing Professional (COP), or similar industry certification.
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Participation in Sourcing, Procurement, and or Outsourcing Industry Associations such as Sourcing Industry Group (SIG), International Association of Outsourcing Professionals (IAOP), Procurement Foundry, institute for Supply Management (ISM), or National Contract Management Association (NCMA).
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Global perspective and experience working with diverse customer and suppliers.
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Experience managing suppliers with global product/service provisioning models.
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Experience in a shared services environment.
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Experience in the financial services industry.
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Experience working with electronic procurement tools such as Ariba, Concur, Fieldglass, and ServiceNow.
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Experience with the WAVE business transformation process as an initiative owner, workstream lead, and/or milestone owner.
Working Conditions:
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Non-commuting Remote employees will not be assigned to report to a Company office location (although they may need to travel to a Company office upon request) and will perform their work remotely.
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Frequent travel, including international (25%).
**Please note that the compensation information that follows is a good faith estimate for this position only and is provided pursuant to applicable pay transparency and compensation posting laws. It is estimated based on what a successful candidate might be paid in certain Company
locations.*
*
The Salary for this position generally ranges between $121,000 - $145,000 annually. This range is an estimate, based on potential qualifications and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law.
Additionally, this position is typically eligible for an Annual Bonus based on the Company Bonus Plan/Individual Performance and is at Company discretion.
#LI-Remote
What We Offer
For eligible employees, we offer a comprehensive benefits package designed to support both the personal and financial well-being of our employees.
Compensation Benefits
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Competitive Pay
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Bonus for Eligible Employees
Benefits Package
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Pension Plan
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401k Match
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Employee Stock Purchase Plan
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Tuition Reimbursement
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Disability Insurance
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Medical Insurance
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Dental Insurance
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Vision Insurance
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Employee Discounts
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Career Training & Development Opportunities
Health and Work/Life Balance Benefits
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Paid Time Off starting at 160 hours annually for employees in their first year of service.
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Ten (10) paid holidays per year (typically mirroring the New York Stock Exchange (NYSE) holidays).
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Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars
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Parental Leave – fifteen (15) days of paid parental leave per calendar year to eligible employees with at least one year of service at the time of birth, placement of an adopted child, or placement of a foster care child.
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Adoption Assistance
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Employee Assistance Program
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College Coach Program
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Back-Up Care Program
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PTO for Volunteer Hours
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Employee Matching Gifts Program
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Employee Resource Groups
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Inclusion and Diversity Programs
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Employee Recognition Program
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Referral Bonus Programs
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Peer Recognition Program (BRAVO)
Inclusion & Diversity
Transamerica has made a strong commitment to inclusion and diversity, and we are proud to be an organization where all perspectives are valued. Transamerica has earned recognition for its strong efforts year-over-year, including from the Human Rights Campaign’s Foundation Corporate Equality Index, the Diversity Best Practices Inclusion Index, and Seramount’s “100 Best Companies” list.
In addition, as part of Transamerica’s commitment to maintaining an inclusive workplace, the company sponsors employee-driven Employee Resource Groups (ERGs), which are formed around a shared interest or a common characteristic of diversity. ERGs are open to all employees and provide a supportive environment for raising diversity awareness and promoting inclusive behavior.
Giving Back
Transamerica believes our responsibilities extend beyond our corporate walls. That's why we created the Aegon Transamerica Foundation in 1994. Through a combination of financial grants and the volunteer commitment of our employees, this foundation supports nonprofit organizations focused on the education, health, and well-being of the communities where we live and work.
https://www.transamerica.com/why-transamerica/aegon-transamerica-foundation
Transamerica’s Parent Company
Aegon
acquired the Transamerica business in 1999. Aegon’s roots go back more than 175 years to the first half of the nineteenth century. Since then, Aegon has grown into an international company, with businesses in the Americas, Europe, and Asia. Today, Aegon is one of the world’s leading financial services organizations, providing life insurance, pensions, and asset management. As a leading global investor and employer, the company seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion and diversity.
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