Prudential Financial

Prudential, a world leading Fortune 100 Global Insurance and Financial Services company is seeking a strategic and influential procurement leader of non-IT Sourcing & Category Management addressing +$2bn in global third-party expenditure.. Ownership of strategic direction for non-IT Sourcing & Category Management in support of organizational goals.. Leading efforts to ensure that sourcing practices are in support of Prudential ESG goals.. Ensure cross-functional collaboration, working closely with other departments, such as finance, operations and service to ensure that the sourcing and category management strategies are understood and support overall organizational priorities.. Bachelor's degree in Business Administration, Finance, Supply-Chain, Legal Studies, or related field; advanced degree preferred.

category management

Job Classification: Corporate - Human Resources Prudential, a world leading Fortune 100 Global Insurance and Financial Services company is seeking a strategic and influential procurement leader of non-IT Sourcing & Category Management addressing +$2bn in global third-party expenditure. Role Overview Reporting to the Chief Procurement Officer, the Vice President – Head of Sourcing & Category Management (non-IT) will be an integral part of the Procurement leadership team. You'll be responsible for leading a team of sourcing & category management professionals in designing and executing best-in-class global strategies that deliver significant and sustainable strategic value across +$2bn of indirect global expenditure. This role requires a strategic visionary with a deep understanding of global market dynamics, exceptional category management skills, and a proven track record in leading and transforming sourcing and procurement functions to achieve competitive advantage. Key Responsibilities & Impact: Strategic Direction of Procurement at Prudential: <ul><li>Ownership of strategic direction for non-IT Sourcing & Category Management in support of organizational goals. </li><li>Meaningful and substantive contribution to overall functional strategy of Procurement, ensuring procurement is a strategic asset of Prudential. </li><li>Expand and deepen the value of procurement across all major geographies where Prudential is present. </li><li>Ensure procurement at Prudential is an adopter of emerging trends and new opportunities through a strong external network and a deep understanding of the procurement industry. Along with providing thought leadership on the emerging opportunities regarding the utilization of technology (GenAI etc.) in support of procurement goals. </li></ul>World-Class Sourcing & Category Management <ul><li>Lead and shape the development of multi-year category strategies to deliver best-in-class commercial, risk and performance value in support of organizational priorities across all in scope categories (+$2bn indirect third-party Professional Services (consulting, BPO, legal), Facilities, Marketing, HR and Travel expenditure). </li><li>Lead the team in the management of categories to optimize performance and strategic impact, which includes identifying and executing opportunities for cost efficiencies through leveraging a sophisticated mix of supply, demand and cost category management levers. </li><li>Establish strong relationships with key suppliers and managing ongoing partnerships to ensure mutual benefit and continuous improvement in terms of quality, efficiency, and sustainability. </li><li>Leading efforts to ensure that sourcing practices are in support of Prudential ESG goals. </li></ul>Technology & Data as Strategic Levers <ul><li>Establish technology and data strategies to drive increasing levels of sophistication in the value of sourcing & category management. This is inclusive of ensuring Prudential is harnessing the full power of GenAI and automation to supercharge sourcing and category management value. </li><li>Drive innovation and process improvement across Procurement processes through implementing innovative procurement solutions that increase efficiency, reduce costs, and improve the quality of outcomes across the company’s procurement activities. </li><li>Leverage data and analytics to support Prudential in making strategic business decisions through identification of trends, risks, and opportunities for enhancing performance and value capture. </li><li>Generate regular market analytics and insights inclusive of supplier landscapes, industry trends and emerging opportunities to inform sourcing and category management strategies. </li><li>Drive consistently high performance across sourcing and category management through development of key performance indicators and metrics to assess performance, conduct of regular performance reviews and implementing corrective actions as needed to address issues and drive continuous improvement. </li></ul>Stakeholder & Executive Relationship Management <ul><li>Build strong relationships with senior stakeholders and executive decision makers to inform understanding of strategic organizational priorities and identify opportunities for value capture. </li><li>Ensure cross-functional collaboration, working closely with other departments, such as finance, operations and service to ensure that the sourcing and category management strategies are understood and support overall organizational priorities. </li></ul>Talent and career development <ul><li>Lead and mentor a large team of internal and outsourced procurement professionals fostering a culture of collaboration, continuous learning, innovation and accountability to deliver increasing levels of performance across Sourcing and Category Management. </li><li>Responsibility for designing and embedding target operating model, bringing together several existing teams consisting of internal and outsourced resources. </li></ul>Qualifications <ul><li>+15 years experience within global organization Procurement departments with responsibility for the sourcing and category management of +$1bn of global spend across in scope categories. </li><li>+ 5 years in leadership roles; including a proven ability to recruit, develop and retain key talent. </li><li>Demonstrable experience in the design, build and execution of global sourcing and category management strategies across in scope categories to deliver transformative cost, quality and performance value. With proven track record of driving strategic initiatives and delivering measurable results in complex organizations. </li><li>Strong understanding and ability to articulate the disciplines and structure that underpin the components of sourcing and category management, along with the ability to translate these into practical strategies that can be effectively implemented. </li><li>Strong understanding of the external market and a continual pursuit of knowledge to understand evolving best practices, new technologies, advanced strategies and regulatory requirements to support the goals of the function. </li><li>A proven track record and strategic focus in leveraging the power of technology and data to elevate Procurement’s value proposition to the highest strategic levels. </li><li>Experience in effectively managing large teams of both internal and outsourced resource, with proven ability to mentor and develop talent to increasing levels of responsibility and seniority. </li><li>Excellent stakeholder management skills, with the ability to engage and influence at all levels of the organization to drive change, gain buy-in and build the profile of Procurement globally. </li><li>Bachelor's degree in Business Administration, Finance, Supply-Chain, Legal Studies, or related field; advanced degree preferred. </li></ul>Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom. Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services. We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand. Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law. The Prudential Insurance Company of America, Newark, NJ and its affiliates. Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential. PEOPLE WITH DISABILITIES: If you need an accommodation to complete the application process, which may include an assessment, please email accommodations.hw@prudential.com. Please note that the above email is solely for individuals with disabilities requesting an accommodation. If you are experiencing a technical issue with your application or an assessment, please email careers.technicalsupport@prudential.com to request assistance.

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