Principal Sourcing Specialist


Location: Riverwoods, Illinois

Job Type: Not Specified


Show that gap who’s boss!
Women are 16% less likely than men to apply to a job once they’ve viewed it, but are 16% more likely to get hired after applying to a job.*
*LinkedIn Talent Solutions Gender Insights Report 2019

Discover. A brighter future.

With us, you’ll do meaningful work from Day 1. Our collaborative culture is built on three core behaviors: We Play to Win, We Get Better Every Day & We Succeed Together. And we mean it — we want you to grow and make a difference at one of the world's leading digital banking and payments companies. We value what makes you unique so that you have an opportunity to shine.

Come build your future, while being the reason millions of people find a brighter financial future with Discover.

Job Description

What You’ll Do

  • The Principal Sourcing Specialist will play an integral role in managing and controlling Discover Financial Services’ spend through category and supplier management best practices with the purpose of reducing total cost of ownership by leveraging effective negotiation and indirect sourcing strategies, tools and processes, and mitigate risk through contract development for category products and services acquired throughout the organization.The role will be responsible for developing, advancing, and ensuring execution of all analytics tools used for credit decision and risk management activities.This is an innovative role that drives value across the organization.The ideal candidate will not only be excellent in creating and executing strategy, but also be exceptional in his/her ability in the end-to-end sourcing process including knowledge of the credit industry space.

  • Execute sourcing and category management activities for designated category, as directed by Category Management leadership

  • Partner with internal stakeholders to develop requirements, issue and score RFx events, develop appropriate leverage, negotiate pricing and commercial terms, and assist in contracting.

  • Bring outside market expertise to assist internal stakeholders and management of optimal supplier pricing and service structures as well as insights to changes in market conditions.

  • Calculate and report realized savings, and execute category management and sourcing best practices. Establishing and prioritize project plans for sourcing projects will be critical to achieve expected objectives and results.

How You’ll Do It

  • Utilize best in class strategic sourcing process and data driven analytics to negotiate optimal commercial T&Cs that meet or exceed the needs of Stakeholders. Develop and execute RFx, analyze results, establish leverage strategies, and assess award scenarios. Negotiate and approve all commercial terms related to third party contracts to optimize total cost of ownership for Company.

  • Based on the analysis of Company spend, client activity and the marketplace, develop and recommend the most appropriate sourcing strategy for each project assigned.

  • Provide expertise within the organization around the supply markets that DFS buys in for designated category, and understand the effects that economic, technological, and governmental changes that impact those markets; share expertise with junior sourcing staff and leadership. Continuously review industry and peer best practices, educate the organization on them, and develop plans to implement those that provide a competitive advantage for DFS.

  • Utilize sound project management techniques to ensure projects meet objectives and timelines, including development of comprehensive project and communication plans. Maintain team accountability to project deliverables and execute all necessary communications to ensure accurate and timely flow of information to internal customers, stakeholders, and suppliers.

  • Build positive working relationships both internally and externally to provide DFS with goods and services at the lowest Total Cost of Ownership at the Highest Quality.

  • Ensure actions are in compliance with department and company policies and procedures, and applicable local, state, and federal laws.

Qualifications You’ll Need

The Basics:

  • Bachelor's degree in Business or Arts

  • 6+ years of experience in sourcing or related field

  • In lieu of a degree, 6+ years of experience in sourcing or related field

  • Lean, Six Sigma

Bonus Points If You Have

  • Master's degree in Business or Arts

#LI-EB1 #Remote #BI-Remote

What are you waiting for? Apply today!

The same way we treat our employees is how we treat all applicants – with respect. Discover Financial Services is an equal opportunity employer (EEO is the law). We thrive on diversity & inclusion. You will be treated fairly throughout our recruiting process and without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status in consideration for a career at Discover.

You’ve got this!