Director of Procurement

Lending Club (NYSE: LC) opened in 2007 with one simple mission: create a more efficient, transparent and customer-friendly alternative to the traditional banking system that offers creditworthy borrowers lower interest rates and investors better returns. Today, we're the world's largest online credit marketplace, and we're radically changing the way lending operates. We're proud of the recognition we've received, including being named a World Economic Forum Technology Pioneer, a CNBC Disruptor 50, and one of The World's 10 Most Innovative Companies in Finance by Fast Company. We're conveniently located in downtown San Francisco, California.

The Third Party and Vendor Management (TPVM) team has several functional areas: Sourcing (IT and non-IT), Third Party Monitoring & Oversight, Contract Management, Procurement, and Travel. TPVM's mission is to maximize third party performance and value through strong business and stakeholder partnerships, from selection and contracting through ongoing monitoring and off-boarding.

Job Description:

This position will manage a team and be responsible for managing and overseeing Lending Club's third party relationships, specifically those related to Technology. The Director will proactively develop, maintain and execute category plans for technology categories. In collaboration with our business partners, Risk SMEs and Legal, the Director will be primarily responsible for managing the "cradle to grave" third party management lifecycle. Responsibilities will include partnering with business partners to select third party service providers, conduct risk assessments, negotiate business terms, finalize required initial due diligence, report exceptions, oversee ongoing monitoring, and lead quarterly/annual business reviews. This role will report to the VP, Third Party and Vendor Management.

Responsibilities:

Category Management, Strategy and Planning:

  • Oversee overall strategy for the Technology channel
  • Review existing contracts and understand business requirements
  • Formulate guidelines, target controls and design standardized metrics
  • Ensure policies are aligned with department, business and regulatory objectives
  • Proactively collaborate with business partners to set priorities for addressable spend

Third Party/Trade Vendor Strategy:

  • Oversee planning, sourcing and selection of new vendors
  • Identify key vendors and risk strategy
  • Manage and monitor supplier performance against negotiated SLA and MSA terms
  • Manage data to monitor vendor performance
  • Manage vendor off-boarding and transition
  • Over time, identify, qualify and formalize a preferred supplier lists

Contract Strategy and Execution:

  • Partner with business partners and stakeholders to lead the contract negotiation process with suppliers
  • Develop negotiation approach, fallback positions, acceptable terms and conditions through completion
  • Identify key benchmarks against which to measure contractual agreements

Optimization of Economics:

  • Own and develop financial analytics to support commercial terms negotiations and/or purchasing activity where appropriate
  • Create professional dashboards to present metrics and results to management
  • Drive continual productivity improvement
  • Consider how to embed ROI based evaluation tools where applicable

Process and Execution:

  • Support TPVM implementation of technology processes and tools to support the Third Party Management program
  • Continually explore new technologies to optimize performance, efficiency and transparency with internal stakeholders
  • Support internal and external audit and due diligence requests
  • Support ad hoc projects and/or other categories, as assigned

Requirements:

  • 8+ years of strategic sourcing, procurement or vendor management experience; in a high growth technology environment preferred
  • Specific expertise negotiating with, and managing, Technology services providers
  • Superior interpersonal and presentation skills
  • Nimble with ability to take decisive action to address business needs that meet corporate business objectives
  • Strong management skills, including communicating, negotiating, directing, planning, organizing and problem solving
  • Proven track record of success in prior roles
  • Client focused with proven ability to partner effectively across all levels of an organization and influence thinking and outcomes
  • Demonstrated problem-solving, quantitative, and analytical skills
  • Exceptional project management skills with strong attention to detail
  • Self-directed, able to work independently, as well as work in a team-oriented and fast-paced environment
  • Bachelor's Degree from top tier university; MBA preferred
  • Professional accreditation in sourcing or procurement a plus

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