Great-West Financial Empower Retirement

  • Strategic Sourcing Manager

    Location US-CO-Denver (DTC)
    Posted Date 1 week ago(5/15/2018 9:34 AM)
    Job ID
    # Positions
  • Position Highlights

    Be Bold Be Brilliant


    Would you like to be a part of one of America's leading financial services firms? Great-West Financial is the nation’s second largest insurer in sales of individual life insurance through banks. We also offer annuity and executive benefits products. Under Empower Retirement, we provide employer sponsored retirement plans as the nation’s second largest retirement plan provider.


    Our over 5,000 associates across 40 locations across the country provide world class service to:


    30,000+ employer sponsored retirement plans

    8 million+ employees participating in their employer-sponsored retirement plan

    467,700+ individual life insurance and annuity accounts

    $460 billion+ total assets under administration


    The Strategic Sourcing Manager is an individual contributor who will support internal business stakeholders in all aspects of their 3rd party supplier business needs and relationships. This will include understanding the internal client needs, leading competitive sourcing events as appropriate, contract negotiations and drafting, supplier risk management, and ongoing management of contracts and supplier performance.  The ability to build and maintain rapport and strong relationships with internal stakeholders and colleagues will be a critical component to success in this role.


    Primary Responsibilities


    • Build positive internal relationships by providing a high level of service, reflecting competence and professionalism.
    • Develop and execute sourcing strategies pertinent to business unit needs and priorities.
    • Lead competitive sourcing process, from start to finish, including development of RFX packages and scorecards, assisting decision-makers with analysis of proposals, coordination of vendor demos, skillful negotiation of deal terms, and overall leadership in every stage of the process.
    • Perform analyses of pricing proposals, business and budget impact, and potential cost savings.
    • Champion and execute vendor management best practices to maximize the value of vendor relationships.
    • Perform ongoing vendor due diligence, focusing on identification and mitigation of risk, e.g., operational, organizational, financial, legal, regulatory.
    • Proactively manage contract renewals and renegotiations.
    • Negotiate contract terms and conditions for agreements, SOWs, amendments, NDA's and other legal documents to achieve optimal terms and conditions for the company.
    • Prepare and provide timely reporting of savings, active projects, new vendor risks and other data.
    • Communicate effectively with key stakeholders and upper management, providing information and insights that are valuable to business decision-making.
    • Understand, comply with, and help further refine company and department policies and procedures.
    • Take personal responsibility for effectively managing one’s work load, meeting commitments and ensuring expected results are achieved.
    • Work with company affiliates and divisions in the U.S., Europe and Canada, to leverage global supplier agreements when possible.
    • Being able to work with minimal supervision, while also being a supportive team member to co-workers.



    • Bachelor's Degree in Business Management, Accounting, Finance, Supply Chain, or relevant field; or equivalent work experience.
    • Must be tech savvy and understand how to utilize technology in the Procurement space.
    • Advanced degree in business or law is desirable, as well as certifications in project management and process improvement.
    • Minimum of 6 years of experience in the purchasing/procurement field, including sourcing, contracting, vendor management and risk management.
    • Excellent organizational, analytical, time-management and problem-solving skills, being able to manage and prioritize multiple projects concurrently.
    • Excellent written, interpersonal and verbal communication skills.
    • High level of interpersonal skills to develop and maintain effective working relationships with senior management, key stakeholders, colleagues and vendors.
    • Must be able to lead difficult conversations, communicate the value of certain procedures and policies, and build consensus, with a balance of assertiveness, tact and diplomacy.
    • Proven track record of achieving savings goals.
    • Ability to balance business demands, legal requirements, policy and processes to achieve positive outcomes.
    • Proven contract negotiating skills and results.
    • Familiarity with vendor management concepts, including strategies for effective performance management, contract compliance, and risk monitoring.
    • Must be personally motivated to do a great job, be a great team member, and provide great value to the company.
    • Ability to demonstrate initiative, mature judgment, customer service orientation, and ability to anticipate needs of the organization.
    • Experience with automated procurment solutions e.g., Ariba, P2P.
    • Normal office working conditions

    About Great-West Financial

    At Great-West Financial® and Empower Retirement, our more than 5,700 global associates are dedicated to helping customers secure their financial futures. We offer a range of retirement savings products, life insurance, annuities and investment services from offices across the country. If you’re interested in joining a company that enjoys a record of strong performance and is rich in history yet innovative, bold and transformative, then our organization is an outstanding place for you to grow and succeed. We’re an equal opportunity employer dedicated to workforce diversity. We’re also committed to providing a drug-free workplace.


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