Associate, Sourcing Analyst

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Date: Sep 25, 2021

Location: New York, NY, US

Company: New York Life Insurance Co

 

When you join New York Life, you’re joining a company that values development, career growth, collaboration, innovation, and diversity & inclusion. We want employees to feel proud about being part of a company that is committed to doing the right thing. Through various resources and programs, you can grow your career while developing personally and professionally.

 

 

 

 

This Sourcing Analyst’s key responsibilities are to i)  identify, collect, and analyze data in support of  sourcing strategies for sourcing requests of varying complexity, and ii) take responsibility for the management of the data. This role partners with New York Life's business stakeholders, legal resources and other Procurement team members to deliver value-added business solutions through New York Life's supplier base.  In addition to providing the  appropriate data support, the Sourcing Analyst stays up to date with issues in the industry, market trends  and with supply chain in general

 

The Sourcing Analyst is expected to effectively collaborate with all Procurement team members to provide coordinated and consistent customer service.  The Sourcing Analyst  will also be expected to effectively interact with business partners and other relevant stakeholders including technology, risk, and legal to ensure proper risk mitigation and alignment with business capabilities and objectives.

 

Requirements 

  • Articulate, influence and translate external market trends, along with internal business priorities, to develop Sourcing insights aligned with NYL objectives
  • Work with, and support, the Procurement team in identifying new procurement opportunities through running reports, data analysis, and engagement with internal stakeholders.
  • Assess overall spend, current and prospective suppliers, as well as client requirements, reporting structuresand relationships within NYL and be accountable for procurement goals and initiatives
  • Work directly with Procurement team members and stakeholders to develop a project pipeline and prioritization schedule
  • Assist in the creation and communication of savings targets and programs based on knowledge of market categories and business unit strategies resulting in savings execution and other objectives
  • Ensure management understanding of the sourcing recommendations and assist in the implementation of sourcing and contract initiatives, ensuring understanding of related risks, costs, and savings opportunities

 

 

 Qualifications

  • 2-4 years minimum level of experience
  • Bachelor’s degree preferred
  •  An understanding of relevant procurement processes within Professional Services Sourcing is required including strategic sourcing, sourcing management, competitive bidding (RFx, reverse auction), contract management, purchasing, etc: must have working knowledge of legal terms and conditions. 
  • Knowledge and experience in insurance or financial service industries is helpful; candidate should i.) have a broad understanding of sourcing and Sourcing trends and their commercial application and ii.) have strong project management skills
  •  Intellectually curious analytical and strategic thinker. Demonstrated ability to analyze/research problems, identify and consider potential solutions, and make timely recommendations; works with others to effectively address issues when they occur
  •  Demonstrates an ability to influence and build consensus among members of the organization, communicates clearly and adapts style to suit audience requirements and demonstrates ability to listen, interprets and presents information effectively using verbal and non-verbal cues
  •  Assists with decision making on vendor selection in concert with the requirements as well as prioritizes sourcing projects and transactions

 

Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by our Foundation. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.

Job Requisition ID: 84116

 

 

 


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