Sourcing and Procurement Manager
New York, NY, USA
Posted on Monday, July 24, 2023
Oxygen is a modern financial platform designed for the 21st-century economy, tailored to meet the unique needs of today's consumers and small businesses (freelancers, solopreneurs and modern SMBs). We believe beauty lies in simplicity, from design to utility, and build our ever-growing product suite with this in mind. And we’re just getting started. At Oxygen, we’re focused on lifting up those who dare to push boundaries and redefine what's possible by delivering on our promise to be a more fair financial partner. The next generation building the future is writing their own rules and shattering expectations. So are we. For those who reject the status quo, welcome to Banking for the Extraordinary. Let's create the future!
We are seeking a highly skilled and motivated Sourcing and Procurement Manager to join our operations team at Oxygen. As the Sourcing and Procurement Manager, you will play a critical role in managing our vendor relationships, negotiating contracts, and ensuring the procurement process runs smoothly. The ideal candidate will have a strong background in sourcing and procurement, with experience negotiating contracts with Fortune 500 companies, particularly in the tech or fintech industry.
- Vendor Management: Identify, evaluate, and select vendors that align with Oxygen's strategic goals and values. Establish and maintain strong relationships with vendors to ensure reliable and high-quality services.
- Contract Negotiation: Negotiate and manage contracts with vendors, focusing on favorable terms, pricing, and service-level agreements. Ensure compliance with company policies, legal requirements, and industry standards.
- Licensing Research: Conduct thorough research and due diligence on licensing requirements, regulations, and certifications related to vendors and their products/services. Stay updated on industry trends and best practices.
- Procurement Process: Develop and implement effective procurement strategies and processes, including vendor onboarding, request for proposal (RFP) processes, and contract lifecycle management.
- Cost Optimization: Identify opportunities to optimize costs without compromising quality or service levels. Implement strategies to drive cost savings and efficiency improvements in the procurement process.
- Vendor Performance Evaluation: Develop and implement vendor performance evaluation frameworks to assess vendor performance, address issues, and drive continuous improvement.
- Relationship Building: Collaborate closely with cross-functional teams, such as legal, finance, and technology, to align procurement activities with business needs and objectives.
- Risk Management: Assess and mitigate risks associated with vendor selection, contract negotiation, and ongoing vendor relationships. Develop contingency plans to minimize potential disruptions.
- Compliance and Ethics: Ensure compliance with applicable laws, regulations, and ethical standards in all sourcing and procurement activities.
- Market Analysis: Conduct market research and analysis to stay informed about industry trends, emerging technologies, and vendor capabilities. Use this knowledge to drive innovation and identify potential strategic partnerships.
- Bachelor's degree in business administration, supply chain management, or a related field. Advanced degree or certification (such as CSCP or CPSM) is a plus.
- Proven experience in sourcing and procurement, including contract negotiation and vendor management.
- Solid experience in negotiating contracts, particularly with Fortune 500 companies, preferably in the tech or fintech industry.
- Strong understanding of licensing requirements, regulations, and certifications related to vendor products/services.
- Demonstrated ability to build and maintain strong vendor relationships.
- Excellent negotiation and communication skills, with the ability to influence stakeholders and drive favorable outcomes.
- Strong analytical and problem-solving skills, with a strategic mindset.
- Comfortable working in a fast-paced, startup environment with a high degree of ambiguity.
- Familiarity with procurement software and tools is preferred.
- High level of integrity, professionalism, and ethical conduct.
Compensation & Benefits
- The final compensation package for this role will be determined during the interview process and is based on a variety of factors, including, but not limited to, geographic location, internal equity, education, skill set, experience and training.
- Oxygen also offers comprehensive benefits, including stock options, medical, dental, and vision plans, flexible spending accounts, pre-tax commuter benefits, a retirement plan, flex time off, paid parental leave, employer paid disability coverage, and additional health and wellbeing perks and benefits. Oxygen reserves the right to amend or modify employee perks and benefits at any time.
- Not sure you qualify? Don’t meet every single requirement? At Oxygen we are dedicated to building a diverse, inclusive and authentic workplace, so if you’re excited about this role but your experience doesn’t align perfectly with every qualification in the job description, we encourage you to apply anyway. You may be just the right candidate for this or other roles.
- Oxygen provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.
- This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.