What are the responsibilities and job description for the Sourcing Analyst position at Western Union?
Sourcing Analyst – Denver, Colorado
Are you ready to hone your skills & gain experience in a world class financial services organization that helps people prosper? Are you interested in joining a globally diverse organization where our unique contributions are recognized and celebrated, allowing each of us to thrive? Then it’s time to join Western Union as a Sourcing Analyst!
Western Union powers your pursuit.
The Sourcing Analyst is responsible for identifying, evaluating and assisting with sourcing activities related to suppliers to ensure that the Western Union technology stakeholders can obtain the technology products and services they needs at the best possible price, quality, and terms and conditions. This role involves analyzing market trends, conducting supplier assessments, and managing supplier relationships by managing the contracting process, including negotiating contracts with SLAs and running market events - RFx (RFI, RFP, RFQ). This individual must also have an analytical drive and a knack for creating a business case that represents the reasons supporting changes to third-party spend and supplier relationships. In this role, the individual will regularly interact with key business leaders to balance cost, risk and speed in order to ensure that the business is able to realize its objectives.
Role Responsibilities
- Sourcing and procurement analyst ensures successful execution of sourcing events (RFx) and contract negotiations.
- Drive cost-saving initiatives through strategic sourcing, supplier consolidation, and alternative sourcing options.
- Track sourcing expenditures to ensure cost-effectiveness and adherence to financial targets.
- Implement pricing and cost-reduction strategies without compromising on quality.
- Supplier research and evaluation : Identify potential suppliers and assess their capabilities, pricing and reputation.Conduct market research to understand supplier trends, pricing models, and competitive offerings.Evaluate suppliers based on quality, cost, delivery performance, and compliance with standards.
- Data Analysis and Reporting : Analyze procurement data to identify cost-saving opportunities, inefficiencies, and supplier performance trends.Create and maintain reports on supplier performance, market conditions and purchasing metrics.Input deals into LevelPath sourcing tool and execute contracts using DocuSign.
- Contract Negotiations and Management : Lead contract negotiations to secure advantageous terms and conditions with suppliers.Manage the contract lifecycle from initiation through execution and renewal.Assist in the preparation, negotiation, and execution of supplier contracts.Ensure suppliers adhere to contractual terms, including quality standards.
- Cross-Functional Collaboration and Communications : Identify opportunities to reduce costs through strategic sourcing, volume discounts and alternative suppliers.Support negotiation for pricing, terms, and conditions with the suppliers.Work closely with procurement operations, finance, and other departments to align sourcing strategies with overall organizational needs.
- Risk Management : Assess and mitigate potential risks related to supplier performance and regulatory compliance.
Role Requirements
Preferred Qualifications
base salary range is $70,000 - $95,000 USD per year, total on target compensation includes a base salary and short-term incentives that align with individual and company performance. Actual salaries will vary based on candidates’ qualifications, skills, and competencies.
Benefits
You will also have access to short-term incentives, multiple health insurance options, accident and life insurance, and access to best-in-class development platforms, to name a few ().
Please see the location-specific benefits below and note that your Recruiter may share additional role-specific benefits during your interview process or in an offer of employment.
Your United States – Specific Benefits Include
Location (Hybrid) : 7001 E. Belleview Ave Denver, CO 80237
Western Union values in-person collaboration, learning, and ideation whenever possible. We believe this creates value through common ways of working and supports the execution of enterprise objectives which will ultimately help us achieve our strategic goals. By connecting face-to-face, we are better able to learn from our peers, problem-solve together, and innovate.
Our Hybrid Work Model categorizes each role into one of three categories. Western Union has determined the category of this role to be Hybrid. This is defined as a flexible working arrangement that enables employees to divide their time between working from home and working from an office location. The expectation is to work from the office a minimum of three days a week.
Salary : $70,000 - $95,000
