Strategic Sourcing Lead
OP - Operations
Estimated Travel Percentage (%): No Travel
Relocation Provided: No
American General Life Insurance Company
Strategic Sourcing and Procurement Lead
About AIG & Fortitude Re
American International Group, Inc. (AIG) is a leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services around the world. AIG common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
Fortitude Re: In 2016, AIG created a third reporting segment, Legacy, to manage non-core assets and liabilities, and businesses in run-off, with the objective of balancing the benefits of return of capital or capital redeployment, with potential near-term reductions in book value. The launch of the Fortitude Re entity in 2017 (formally DSA Re) was an important early step in achieving that objective. AIG continued the Fortitude Re strategy by announcing a strategic partnership with The Carlyle Group to achieve the long-term vision for Fortitude Re. Fortitude Re currently reinsures $36 billion of AIG's Legacy Life and Annuity and General Insurance liabilities. Fortitude Re's diversified risk portfolio, strong claims operation, and efficient administration capabilities provide the foundation for a platform that can be scaled over time to offer unique solutions to external parties. AIG and Carlyle plan to build Fortitude Re into a standalone platform with financial strength that complements its strategically differentiated capabilities. For more information, please visit http://www.aig.com/investor-relations.
Your Contribution at AIG/Fortitude Re
This role will lead the sourcing and procurement organization for Fortitude RE. Responsibilities include:
- Lead Fortitude RE's global strategic sourcing and procurement area.
- Build sourcingcapabilities from the ground up, implementing streamlined and simplified processes.
- Develop and manage the sourcing and procurement process in Fortitude RE.
- Stand up and act as liaison with third party buying consortium.
- Establish and maintain relationships with key suppliers.
- Partner with business leaders and legal to negotiate contracts and deliver savings
- Manage the end to end sourcing process including leading requirements definition discussions with operational stakeholders and budget owners, and RFx development execution such as, scorecard development, stakeholder scoring analysis, vendor risk management coordination, and all external vendor communications.
- Act as primary point of contact for operational stakeholders throughout the sourcing process.
- Manage the end to end sourcing process including RFx, business term negotiation, contracting,
- Take lead navigating the business unit and external supplier through the sourcing process
- Lead and manage negotiations for high complexity contract requests (Master Service Agreements (MSA), Non Disclosure Agreements (NDA), Amendments, Statements of Work (SOW), Work Orders (WO)), independently, with little guidance from leadership.
- Support leadership team in preparing ad-hoc, project based RFx presentation materials (business recommendations, savings projections) for budget owners and department heads including in depth analyses driven by business unit requests.
- Establish and manage collaborative business stakeholder relationships across the enterprise to facilitate effective management and encourage utilization of procurement across all business units
- Ensure that a framework of policies, practices and procedures is in place to promote prudent risk taking, effective change management and good corporate governance across the technology sourcing and contract functions
- Promote strong compliance to ethical standards across function.
Estimated Travel Percentage (%): Very Limited
Relocation Provided: No
What we are looking for
- 10+ years' experience in Strategic Sourcing or Procurement with leadership responsibilities
- Bachelor's degree preferably in business, finance or other related discipline
- Knowledge of the financial services or insurance industry preferred
- A recognized qualification in procurement or operations would be considered an asset
- Proven expertise working in best in class procurement organizations focusing on strategic sourcing and category management across various category and disciplines
- Strong communication and interpersonal skills with the ability to work effectively with various stakeholders, including senior management, internal functional partners, and external advisors.
- Strong written, oral, and interpersonal communication skills
- Demonstrated negotiation skills
- Compelling influencing and persuasion skills
- Effective project management and change management skills
- Demonstrated consulting and problem solving skills
- Self-starter, able to multi-task and work in a fast paced environment
- Results oriented
- Organized, reliable, detail-oriented, and motivated to support teams in delivering timely results and quality work products.
- Ability to interpret legal documents and work with attorneys to structure agreements that align to targeted deliverables and milestones.
- Procurement Process Knowledge - Demonstrates a deep understanding of relevant and best in class procurement processes (e.g., category management, strategic sourcing, contract management, purchasing).
- Sourcing Strategy Knowledge- Extensive knowledge and proven success in executing sourcing processes and developing strategies .
- Category Management Knowledge - Extensive knowledge and proven success in understanding and applying category management strateg ies, developing category management processes and planning requirements, supply strategies, supply contracts and managing vendor relationships .
- Customer Relationship Management- Knows Procurement's customer groups and characteristics of these customer groups. Works to understand customer requirements and uses this information as an input into decisions. Develops and fosters mutually beneficial customer relationships.
- Strategic Planning -Creates, executes, and monitors strategic plans based on NYL's Procurement's vision, guiding principles, business goals, and capabilities
- Leadership - Demonstrates the ability to effectively lead in a dynamic, complex environment to achieve targeted outcomes. Makes timely decisions.
- Budget and Finance- Demonstrates an understanding of budgetary and financial functions, with ability to work with Procurement operations and Corporate functions to translate procurement savings into value creation initiatives using approved methodologies.
- Continuous Improvement- Collaborates with internal and external stakeholders to evaluate current business processes to streamline I remove inefficiencies
- Project Management- Demonstrates the ability to design, plan, and manage projects to deliver value added solutions within defined time and cost parameters . Ability to manage multiple projects at the same time .
- Business Judgement- Demonstrates an understanding of internal business processes, external customer segments, strategic direction and business objectives . Aligns recommendations and decisions with Procurement's vision and guiding principles.
- People Management- Displays the ability to support and manage individuals to achieve agreed upon objectives . Provides individuals with timely feedback on what they are doing well and what their opportunities are for further development.
- Oral Communication - Communicates clearly and adapts style to suit audience requirements .
- Demonstrates ability to listen, interpret and present information effectively using verbal and non-verbal cues. Actively listens when others are communicating and demonstrates receptivity to ideas presented.
It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.
At AIG, we believe that diversity and inclusion are critical to our future and our mission - creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.