Associate, Procurement & Sourcing

About this role

Business Unit Overview:

BlackRock Finance consists of finance professionals in disciplines such as Financial Planning & Analysis, Treasury, Tax, Finance Controls, Sourcing and Vendor Management (“SVM”), Finance Platform Support and Controllers. SVM is a global team, with team members primarily based in New York, Gurgaon, Budapest and London. SVM aims to be trusted strategic sourcing advisors enabling BlackRock to achieve more value. The SVM team helps negotiate agreements with vendors to help achieve optimum value, identify and mitigate vendor risks and provides strategic advice to our clients.  The SVM team aims to avoid certain costs and deliver cost reductions, deliver reliable analytical data for improved decision making, and enable a socially responsible and diverse supplier base.

Background

SVM seeks a supply chain professional in sourcing/procurement to support the deal life cycle for technology and non-IT procurement-related initiatives on behalf of the Firm.  Candidates with experience and technical depth related to negotiating and managing enterprise agreements with major or emerging hardware, software, professional services, and human resources suppliers are encouraged to apply.

Principal duties include:

• Assist in the development of global strategic sourcing opportunities through competitive bidding, proof-of-concept, demand management, supplier consolidation, and process reengineering.
• Ownership of the full strategic sourcing cycle, including vendor identification and selection, price negotiation, and contract “red-lining” (i.e. contract drafting and editing).
• Knowledge of commercial and legal contract terms (e.g. liability, indemnification)
• Partnering with Category Leads, Third Party Risk, and Legal teams around the world in the negotiation of: Master Services Agreements, Master Hosted Services Agreements, Statements of Work, Novation Agreements, Service Level Agreements, and Amendments.
• Think and act globally to collaborate effectively on a cross-functional basis. Align the business unit, local, regional and global organization to maximize achievement of sourcing objectives and continuity of supply to position sourcing as a competitive advantage for BlackRock
• Support the Category Manager ensuring the value of engaging SVM is understood by key internal stakeholders – such as championing the benefits of best-in-class strategic sourcing principles and practices and the importance of appropriate supplier relationships to ensure sustainability.
• Support a robust pipeline of sourcing projects in parallel with broader strategic projects
• Develop market research and benchmarking of suppliers and related service categories

Experience required:

• At least 5 years of strategic sourcing experience at a consulting firm, technology organization, or financial services firm.
• Depth in negotiating global contracts with the ability to understand legal terms and software licensing conditions while negotiating fees, SLA’s and articulating deliverables.
• A passion for the technology sector, including a comprehensive understanding of IT market drivers, trends, and dynamics is a plus.
• Relevant experience in drafting and redlining contracts.
• Sufficient financial modelling skills so as to build multiple negotiation scenarios, total cost of ownership models, consumption models, and demand forecasts, etc.
• Experience directly drafting and running RFIs, RFQs, and RFPs including vendor selection and understanding the vendor risk due diligence process
• Experience with software vendor audits or vendor disputes/escalation management.
• Strong MS Office skills; particularly Word and Excel.
• P2P system such as Coupa, Ariba, SAP desired
• Reporting tools such as Tableau, Microsoft Power BI, SharePoint desired.

Competencies:

• Strong written and spoken English language essential. Additional languages are a plus.
• Superior analytical skills- able to demonstrate superior quantitative and analytical capabilities, and the ability to translate analysis into tactics and results
• Strong communication skills and able to influence others through oral and written presentations.  Successful candidates are able to persuade, motivate and compel support for key ideas and initiatives by delivering clear, well-structured presentations.
• Negotiation skills –comfortable representing BlackRock’s interests in interactions with vendors and other counter parties.
• Ability to manage issues to resolution, negotiating compromises for overall business benefit when required.
• Self-confident and decisive
• Excellent attention to detail
• Ability to recognize and resolve problems
• Customer oriented
• Able to develop and maintain strong working relationships with internal stakeholders and vendors
• Able to influence others through direct discussion or in written format
• Ability to meet tight time schedules
• Willingness to handle repetitious assignments
• Flexibility in approach to working hours to meet business needs

Education Requirements:

• Bachelor’s Degree, with preferences for Supply Chain Management, Computer Science, Engineering, Entrepreneurship, Management Information Systems, Data Science, Business Analytics, Economics, Innovation Management, Technology Management, Operations Research, Legal Studies, or Paralegal Studies.
• Advanced degrees in Business, IT (CS, MIS, etc), Law, or Mathematics or related areas are also preferred.  

Our benefits

To help you stay energized, engaged and inspired, we offer a wide range of employee benefits including: retirement investment and tools designed to help you in building a sound financial future; access to education reimbursement; comprehensive resources to support your physical health and emotional well-being; family support programs; and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.

Our hybrid work model

BlackRock’s hybrid work model is designed to enable a culture of collaboration and apprenticeship that enriches the experience of our employees, while supporting flexibility for all. Employees are currently required to work at least 4 days in the office per week, with the flexibility to work from home 1 day a week. Some business groups may require more time in the office due to their roles and responsibilities. We remain focused on increasing the impactful moments that arise when we work together in person – aligned with our commitment to performance and innovation. As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience here at BlackRock.

About BlackRock

At BlackRock, we are all connected by one mission: to help more and more people experience financial well-being.  Our clients, and the people they serve, are saving for retirement, paying for their children’s educations, buying homes and starting businesses. Their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress.

This mission would not be possible without our smartest investment – the one we make in our employees. It’s why we’re dedicated to creating an environment where our colleagues feel welcomed, valued and supported with networks, benefits and development opportunities to help them thrive.

For additional information on BlackRock, please visit @blackrock | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock

BlackRock is proud to be an Equal Opportunity Employer.  We evaluate qualified applicants without regard to age, disability, race, religion, sex, sexual orientation and other protected characteristics at law.