Sr Procurement Manager, Risk & Operations

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

Job Description:

This position will be responsible for fostering strong relationships with senior Lending Club stakeholders, focused on proactively developing, maintaining and executing category sourcing plans covering Risk, Credit, Operations, Professional Services, and other categories, as assigned. The Sr. Manager will be responsible for managing all aspects of the strategic sourcing lifecycle in collaboration with the business stakeholders, Risk SMEs and Legal. Responsibilities will include partnering with business partners on planning and vendor selection, risk assessment, negotiations, due diligence, exceptions reporting, ongoing monitoring, quarterly/annual business reviews, and related vendor qualification and monitoring procedures. The role will also focus on collaborating with various business leaders to develop and execute category plans and sourcing strategies that minimize vendor risk while optimizing vendor economics and outcomes. This role will report to the Sr. Director, Third Party Management.

Responsibilities:

Category Management Strategy and Planning:

  • Oversee overall strategies for the Risk, Credit and Operations channels
  • 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

Supplier/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
  • Negotiate rate cards with key vendors
  • Conduct quarterly/annual business reviews with key vendors
  • Use KPIs and KRIs to monitor vendor performance
  • Resolve issues relating to vendor performance
  • Manage vendor off-boarding and transition
  • Identify, qualify and formalize a preferred suppliers list

Contract Strategy and Execution:

  • Partner with business 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:

  • Develop, select or implement technology processes and tools to support the Third Party Management program
  • Identify scalable solutions that integrate with existing technologies
  • Continually explore new technologies to optimize performance, efficiency and transparency with internal stakeholders

Requirements:

  • 8-10 years of strategic sourcing, procurement or vendor management experience, in a high growth technology environment (preferred)
  • Specific expertise negotiating and managing Risk, Credit and/or Operations (Debt Collections and Debt Buyer) agreements a plus
  • Superior interpersonal 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; strategic and creative thinking.
  • Exceptional project management skills with strong attention to detail
  • Must be 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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