The Category Specialist has responsibility for leading a category of expenditures and focuses on creating, recommending, implementing, and managing a bank-wide strategy for the purchase of the category goods and services. Elements of an industry-leading category strategy will include: spend assessment, supplier recommendations, sourcing methodologies, transaction platforms, on-going supplier management, pricing and contract negotiations and continuous-improvement plans.
- Work with management to construct a category strategy that will deliver the greatest value to U.S. Bank according to the enterprise’s goals and objectives.
- Demonstrate subject matter expertise regarding category expenditures
- Recommend business practice changes that will improve the value of supplier relationships that can be quantified in measurable ways.
- Provide market analysis and research
- Communicate market trends and observations to team members and managers
- Benchmarks commodities against approved internal/external standards to ensure competitive pricing and other cost advantages
- Negotiate complex, enterprise-wide contracts typically in excess of $1 million annually
- Advises management of contractual rights and obligations and provides interpretations of terms and conditions
- Lead cross functional sourcing teams and act as primary liaison between supplier and U.S. Bank
- Manages multiple projects, maintains project plans and provides project related direction to less experienced team members including business line buyers
- Performs supplier risk management activities, including risk assessment and prioritization, contingency planning, risk reporting, and reputation risk monitoring
- Reports supplier risks to Supplier Manager Business Leader on a regular frequency with recommendations for mitigation and prevention