Lighthouse Technology Services is partnering with our client to fill their Strategic Sourcing Analyst position! This is a 6 month contract-to-hire opportunity and will be hybrid in Buffalo, NY. This role will be a W2 employee of Lighthouse Technology Services. No C2C or subcontracting arrangements will be considered.
What You'll Be Doing:
Lead strategic sourcing initiatives by guiding cross-functional project teams through a structured vendor selection process, ensuring competitive pricing and maximum leverage in negotiations
Develop and execute Requests for Proposals (RFPs), Requests for Quotes (RFQs), and Requests for Information (RFIs) based on business needs, with primary focus on software sourcing (70%), professional services (20%), and miscellaneous procurement (10%)
Manage contract negotiations up to $1M in value in conjunction with legal teams, securing the most competitive pricing and favorable terms for the organization
Facilitate comprehensive vendor evaluations including proposal scoring, demonstrations, reference calls, and on-site visits to short-list and select optimal vendors
Oversee the complete procurement lifecycle for 20-30 concurrent projects of varying complexity, including contract renewals, terminations, and new vendor acquisitions
Collaborate with the Third-Party Risk Management team to ensure vendors are properly risk-tiered, vetted, and approved before contract execution
Execute contracts through DocuSign and generate purchase orders while maintaining compliance with internal controls and regulatory standards
Research and analyze procurement trend data to identify cost savings opportunities and present actionable recommendations to business lines and support functions
What You'll Need to Have:
2-5+ years of strategic sourcing experience, specifically in vendor selection and contract management (required)
Proven contract negotiation and procurement experience with demonstrated ability to secure favorable terms
Experience in Financial Services or highly regulated industries (healthcare, insurance) with understanding of compliance requirements
Strong proficiency in Microsoft Office Suite including Excel, PowerPoint, and Word for analysis and documentation
Demonstrated ability to manage multiple complex projects simultaneously and drive outcomes to completion independently
Solid analytical skills with experience evaluating vendor proposals, conducting cost-benefit analyses, and identifying savings opportunities
Experience collaborating with cross-functional teams and stakeholders at various organizational levels
Self-starter with strong customer-centric approach and excellent written and verbal communication skills