Sr. Sourcing Manager - Investments

New York NY
February 27 2019
Insurance, Securities
Functional Area:

CS - Corporate Services

Estimated Travel Percentage (%): No Travel

Relocation Provided: No


Job ID: JR1815229 Sr. Sourcing Manager

Your Future Team:

Investments' Risk, Control and Governance team, reporting to AIG's Chief Investment Officer, provides ‘first line of defense' support and oversight for the Business and actively engages with front office, back office and risk and control functions to ensure Investments' activities are conducted in accordance with internal and industry requirements and standards and otherwise meet expectations for both efficiency and control.

Your Contribution at AIG:

The Sr. Sourcing Manager will be responsible for assisting business unit managers with engagement and monitoring of third party service providers in accordance with Investments and Corporate policies and procedures.

The Sr. Sourcing Manager will, as required, work with business unit leaders to define business needs, collaborate with legal counsel, and support contract negotiations that maximize customer value while mitigating risk. Sr. Sourcing Manager may assist with drafting agreements which incorporate negotiated business terms to assist legal counsel in drafting contract documents which appropriately document agreed upon business terms such as deliverables, pricing, SLAs, specifications, etc.

The Sr. Sourcing Manager will play an important part in Investments increased ownership and emphasis for third-party service provider risk management including support for pre-engagement risk assessment, coordination with other Corporate functions involved in third-party risk management, and ongoing oversight of Investments' population of third-party service providers.

The Sr. Sourcing Manager will also support the evolution of Investments Third Party Risk Management governance framework to ensure it effectively balances the requirements of the business with appropriate risk management and compliance with applicable policies.

Key Responsibilities / Job Duties

Work with the Owner of the Control Agenda to:

  • Develop and Implement third party risk management process changes.
  • Attend strategy meetings with the business unit leadership associated with potential engagement of strategic third party service providers.
  • Interact with regularly with Business and IT Executives with regard to their third-party service provider initiatives.
  • Partner with the business.
  • Perform Data Analysis to support sourcing decisions.
  • Determine the best approach to take, to support the business and mitigate risk.
  • Resolve internal issues associated with third-party service provider on-boarding, including delays in Corporate processing.
  • Assist business unit representatives as necessary to constructively define the business requirements in a fashion that supports an appropriate contractual arrangement. What is the business trying to achieve, what is the scope, timing, budget, is this part of a larger program?
  • Participate and as appropriate lead negotiation of business requirements for routine through complex vendor engagements.
  • Review and preparation of terms sheets which incorporate all agreed upon business terms
  • Assist with definition the Sourcing Strategy with the business with the business.
  • RFx (competitive bid), Sole Source, Targeted negotiation.
  • Perform in depth analysis of existing contracts or proposed contract amendments against client business needs, draw conclusions, prepare comprehensive summaries, and present back to the client in a concise manner.
  • Coach colleagues, transfer knowledge, and develop team members to be more effective in their current roles.
  • Ensure key on-boarding/monitoring processes are performed in an effective and timely manner, as necessary, for third party service provider relationships whether by Investments or Control Partners.
  • Oversee population of third party service provides, develop and maintain appropriate reports for Investments Senior Management, and identify opportunities to leverage relationships to control costs or extract additional relationship value.
  • Interface actively with Corporate colleagues that have third party service provider risk management responsibilities in order to support enhanced policies, procedures and practices in Investments and firm-wide.

What we are looking for:

  • Minimum 8 years' experience with responsibility for Sourcing and Vendor Management
  • Strong presentation skills
  • Ability to draft documents which describe negotiated and agreed upon business terms with third party vendors to assist legal counsel in drafting final vendor agreements
  • Comprehensive knowledge of typical corporate policies and procedures, coupled with ability to identify required improvement to established policies and to communicate implementation procedures to others
  • Expert knowledge of purchasing contracting concepts and processes, including deep understanding of contract business terms and working knowledge of contract legal terms.
  • Strong analytical, collaboration and communication skills
  • Strong understanding of vendor risk management concepts and practices
  • Use of independent judgment and creativity applied to resolution of contract issues
  • Excellent internal and external negotiation skills
  • Strong customer service orientation including demonstrated issue resolution and relationship management skills
  • Ability to quickly master AIG contracting processes, terminology, political environment, systems and unique requirements by various business groups
  • Solid decision making ability using available facts in sensitive client situations
  • Mastery of various project documentation and tracking systems

Additional Information:

AIG's Investments+ team provides investment advisory and asset management services for AIG and its businesses, with ~$340 billion in assets under management. Headquartered in New York with several locations around the world, the team is comprised of talented investment professionals who create attractive and long-term returns for the firm and its shareholders. Investments + manages the following major asset classes: Public and Private Corporate Credit, Commercial Real Estate, Residential Real Estate and Equity.

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.

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