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Job Description
The Vice President, Chief Procurement Officer (VP, CPO) will lead the sourcing and procurement function for Fannie Mae. Reporting to the VP, Corporate Finance Management, the VP, CPO will be a leader who is ready to transform how Fannie Mae sources, spends, and partners with the business. This role will focus on strategic sourcing, cost optimization, and efficient procurement operations. The VP, CPO will oversee $1B in spend across a diverse range of categories and spearhead the transformation of Fannie Mae’s procurement organization into a strategic and forward-looking function
Key Responsibilities:
- Develop and implement sourcing strategies to ensure the procurement of high-quality services at competitive prices, including rationalization of our supplier footprint.
- Identify and evaluate potential suppliers, negotiate contracts, and establish long-term partnerships.
- Conduct market analysis to stay informed about industry trends and emerging suppliers.
- Responsible for being an enterprise steward of large-scale consulting engagements to ensure that Fannie Mae realizes both economic and execution value from these partnerships.
- Drive strategic sourcing and vendor management for technology services, ensuring alignment with enterprise objectives and regulatory requirements.
- Develop and implement sourcing strategies across critical IT categories, managing key technology partnerships to enhance cost efficiency and vendor performance
- Lead initiatives to reduce procurement costs while maintaining quality and service levels.
- Analyze spending patterns and identify opportunities for cost savings and process improvements.
- Implement best practices in procurement to achieve cost efficiency and value for money.
- Oversee the day-to-day procurement operations, ensuring timely and accurate processing of purchase orders and contracts.
- Manage the procurement team, providing guidance, training, and performance evaluations.
- Partnership with HR / Recruiting rationalize usage and cost of contract labor. Ensure compliance with company policies, legal requirements, and ethical standards in all procurement activities.
- Build and maintain strong relationships with key suppliers to ensure reliable supply chains.
- Monitor supplier performance and address any issues related to quality, delivery, or service.
- Conduct regular supplier reviews and audits to ensure compliance with contractual obligations.
- Identify and mitigate risks associated with the procurement process, including supply chain disruptions and market volatility.
- Develop contingency plans to address potential risks and ensure business continuity.
- Establish and monitor key performance indicators (KPIs) and other analytics to measure the effectiveness of procurement activities.
- Prepare and present regular reports on procurement performance to senior management.
Candidate Qualifications:
- 10+ years of experience in a large-scale procurement function.
- At least 5 years in a people leadership role, overseeing a sizable organization of at least 30 team members. With a history of achieving savings targets, improving quality and service levels through collaborative partnerships, and are skilled in negotiation and contract management.
- 5+ years of strategic sourcing experience, ideally with a focus on technology procurement sourcing.
- Excellent negotiation skills with an approach that promotes win/win outcomes and nurtures long-term relationships with key partners.
- Experience managing the development of a high-performing procurement and sourcing frameworks.
- Proven experience being successful in a highly regulated company/industry.
- Strong technical and analytical acumen; understands how to leverage technology and data to optimize function.
- Deep expertise in partnering with technology leadership on vendor optimization.
- Demonstrated ability to build and drive step-changes within an organization through transformational procurement and business leadership.
- Ability to partner with the senior leadership team to develop and own critical KPI’s that ensure overall performance of the business.
- Track record of establishing formal continuous improvement approaches throughout the procurement function in addressing people, process, and systems’ needs.
- Ability to build strong self-directed teams with bench strength for succession while balancing the need to set long-term strategic direction with the need to get into the details and operate at the floor level.
- A decisive leader who has experience and comfort making complex decisions that dramatically impact the business.
- Strategic mindset that can assess the current state of the function and develop short, mid and long-term transformation plans.
- Ability to operate with a sense of urgency in a dynamic environment.
- Exceptional financial acumen with an understanding of business concepts outside of supply chain.
- Comfortable with ambiguity and enjoys managing multiple projects and complex situations.
- Ties procurement initiatives to income statement, cash flow, and operating outcomes; considers the total enterprise when making business decisions.
- Strong business, analytical and financial acumen.
Target Pay Range: $222,000 - $300,000
Qualifications
Education:
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For most roles, employees are expected to work onsite on a regular basis at their designated office location. In-office work cadence is determined by your manager. Proximity within a reasonable commute to your designated office location is preferred unless the job is noted as open to remote.
Fannie Mae is an Equal Opportunity Employer, which means we are committed to fostering a diverse and inclusive workplace. All qualified applicants will receive consideration for employment without regard to race, religion, national origin, gender, gender identity, sexual orientation, personal appearance, protected veteran status, disability, age, or other legally protected status. For individuals with disabilities who would like to request an accommodation in the application process, email us at careers_mailbox@fanniemae.com