Senior Associate - Sourcing & Procurement

New York Life

  • New York City, NY
  • $77,500-112,000 per year
  • Permanent
  • Full-time
  • 1 day ago
Location Designation: Hybrid - 3 days per weekJob Title: Senior Associate - Sourcing Associate - PF3Role Overview:This Sourcing Associate's key responsibilities are to i) lead the planning and development of sourcing strategies for sourcing requests of varying complexity, and ii) take responsibility for the execution of these strategies.This role partners with New York Life's business stakeholders, legal resources and other Procurement team members to deliver value-added business solutions through New York Life's supplier base. In addition to recommending appropriate procurement strategies and methodologies, the Sourcing Associate oversees the sourcing, negotiating, and contracting of goods and services.What You'll Do:This role requires specific experience in sourcing professional services, including but not limited to legal, consulting, marketing, and financial services. The candidate should be comfortable managing complex vendor relationships and negotiating high-value service contracts within these categories.The Sourcing Associate is expected to effectively collaborate with all Procurement team members to provide coordinated and consistent customer service. The Sourcing Associate will also be expected to effectively interact with business partners and other relevant stakeholders including technology, risk, and legal to ensure proper risk mitigation and alignment with business capabilities and objectives.· Articulate, influence and translate external market trends, along with internal business priorities, to develop Sourcing insights aligned with NYL objectives· Develop short- and long-term strategies and oversee execution of such strategies that leverage economies of scale and scope across the organization· Assess overall spend, current and prospective suppliers, as well as client requirements, reporting structures and relationships within NYL and be accountable for procurement goals and initiatives· Work directly with Procurement team members and stakeholders to develop a project pipeline and prioritization schedule· Assist in the creation and communication of savings targets and programs based on knowledge of market categories and business unit strategies resulting in savings execution and other objectives· Ensure senior level management understanding of the sourcing recommendations and assist in the implementation of sourcing and contract initiatives, ensuring understanding of related risks, costs, and savings opportunities· Accountable for managing large strategic procurement initiatives and/or programsWhat You'll Bring:· 2-3 years minimum level of experience; minimum 1 years in a procurement/sourcing role, specifically sourcing professional services· Bachelor's degree· A high-level understanding of relevant procurement processes is required including strategic sourcing, sourcing management, competitive bidding (RFx, reverse auction), contract management, purchasing, etc.; must have expertise in legal terms and conditions· Knowledge and experience in insurance or financial service industries is helpful; candidate should i.) have a broad understanding of sourcing and Sourcing trends and their commercial application and ii.) have strong project management skills· Intellectually curious analytical and strategic thinker. Demonstrated ability to analyze/research problems, identify and consider potential solutions, and make timely recommendations; works with others to effectively address issues when they occur· Demonstrates a strong ability to influence and build consensus among members of the organization, communicates clearly and adapts style to suit audience requirements anddemonstrates ability to listen, interprets and presents information effectively using verbal and non-verbal cues· Assists with decision making on vendor selection in concert with the requirements as well as prioritizes sourcing projects and transactions· Strong data analysis capabilities, with an emphasis on sourcing analytics, supplier performance metrics, and cost modeling. Proficiency in Microsoft Excel is essential to support decision-making and reporting.· Experience using procurement data to create insights that influence strategy and support stakeholder alignment is strongly preferred.#LI-VL1
#LI-HYBRID​Pay TransparencySalary Range: $77,500-$112,000Overtime eligible: ExemptDiscretionary bonus eligible: YesSales bonus eligible: NoActual base salary will be determined based on several factors but not limited to individual's experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus. In addition to base salary, employees may also be eligible to participate in an incentive program.Company OverviewAt New York Life, our 180-year legacy of purpose and integrity fuels our future. As we evolve into a more technology-, data-, and AI-enabled organization, we remain grounded in the values that drive lasting impact.Our diverse business portfolio creates opportunities to make a difference across industries and communities-inviting bold thinking, collaborative problem-solving, and purpose-driven innovation. Here, you'll find the rare balance of long-standing stability and forward momentum, supported by an inclusive team that honors tradition while embracing progress.As a Fortune 100 mutual company, we offer a place to grow your skills, contribute to meaningful work, and deliver solutions that matter. Your ideas drive what's next, and your growth powers it.Our BenefitsWe provide a full package of benefits for employees - and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs. Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work. to discover more about our comprehensive benefit options or visit our .Our Commitment to Inclusion
At New York Life, fostering an inclusive workplace is fundamental to who we are and how we serve our communities. We have a longstanding commitment to creating an environment where individuals can contribute their best and succeed together. This foundation is rooted in our core values of humanity and integrity, ensuring that every employee feels valued and supported. By embracing a broad range of perspectives and experiences, we achieve greater success and fulfill our promise of providing financial security and peace of mind to families across all communities. to learn more about New York Life's leadership in this space.​Recognized as one of Fortune's World's Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the . We're proud that due to our mutuality, we operate in the best interests of our policy owners. To learn more about career opportunities at New York Life, please visit the page of .​Visit our to see how our employees and agents are leading the industry and impacting communities.Visit our to learn more about how our company is constantly evolving to meet our clients' and employees' needs.Job Requisition ID: 92421About NY Life Insurance CompanyDiversity & Humanity–two values that are deeply rooted in the New York Life culture and have laid the foundation for over 175 years of commitment to our employees, agents, policy owners, and the communities where we live and work. At New York Life you become a valued part of a welcoming, inclusive, and caring culture that has a long-standing legacy in stability and growth. The strength of New York Life revolves around our diversified, multi-dimensional business portfolio that goes beyond life insurance, and we want you to be a part of our legacy.As a Fortune 100 company and industry leader, we provide an environment where you can explore your career ambitions, offering opportunities to tackle meaningful challenges and stretch your skills while balancing work and life priorities. You will be part of a diverse team guided by our belief to always be there for each other–providing the support and flexibility to grow and reach new heights while making an impact in the lives of others.You are our future, and we commit to investing in you accordingly.Visit our to see how our employees and agents are leading the industry and impacting communities.Visit our to learn more about how our company is constantly evolving to meet our clients' and employees’ needs.

New York Life