Octane
Sourcing&VendorOversightManager
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“Sourcing & Vendor Oversight Manager at Octane. Skills: Sourcing, Vendor Oversight, Procurement, Third-Party Risk Management. Lead negotiations for all relationship issues, contract terms, pricing, and ad hoc projects. Serve as the primary procurement and sourcing lead”
Industry & Context.
Issue Resolution; driving vendor-related problems from identification to final resolution
What They're Looking For.
Must Have
Bachelor's degree in Business Administration, Supply Chain Management, or another related field, 5-7+ years of professional experience in procurement, strategic sourcing, and/or third-party risk management (TPRM), Professional experience acting as the lead negotiator for complex commercial terms and service level agreements (SLAs), Advanced skills in Microsoft Excel and financial analysis tools for spend analysis and cost modeling, demonstrated experience using Microsoft Word for contract redlining, Demonstrated expertise in contract redlining, ability to structure Statements of Work (SOWs) that secure optimal business terms, Experience maintaining data integrity within vendor tracking systems, Foundational knowledge base of Cybersecurity, IT, physical security and similar high-risk vendors
Nice to Have
Previous experience in highly regulated industries (e.g., Banking, Financial Services, Fintech), Certified Professional in Supply Management (CPSM), Certified Purchasing Manager (CPM), Certified Third-Party Risk Professional (CTPRP)
What You'll Do.
Lead negotiations for all relationship issues
Serve as the primary procurement and sourcing lead
Ensure High and Critical vendors have sufficient oversight and governance
and negotiate contracts
Monitor the strength of existing contract agreements
Lead the full sourcing lifecycle for all company sourcing needs
Conduct RFP/RFQ’s as needed
Conduct spend analysis and competitive benchmarking
Serve as the primary day-to-day point of contact and Relationship Owner
Coordinate quarterly stewardship meetings
Manage performance scorecards
Maintain the Issues & Escalations log
Implement the ongoing review schedule and document all activities
Drive the execution of required onboarding and formal termination procedures
Partner with 1st and 2nd Line of Defense to ensure all third-party activities align
Partner directly with the Director of TPRM to continue build and maturity of the program
Maintain accurate records within the vendor tracking system
Develop and refine sourcing templates
How You'll Work.
Team & Collaboration
Partner with 1st and 2nd Line of Defense (Legal, InfoSec, Compliance)
Process & Methodology
Manage performance scorecards, track KPIs, Maintain the Issues & Escalations log, Drive the execution of required onboarding and formal termination procedures
Full Job Description
Octane is unlocking the power of financial products for merchants and consumers. Our cutting-edge technology and innovative financial products empower businesses with more control and flexibility, enabling them to deliver seamless digital experiences, drive customer loyalty, and build long-term value. Octane supports merchants throughout the sales cycle: connecting dealerships with high-intent buyers, driving transparent, fast, and easy closings with award-winning technology, and providing on-going customer care with superior loan servicing. Founded in 2014, Octane supports over 60 OEM partner brands and over 4,000 dealer partners, and has a team of over 600. Visit www.octane.co. The Sourcing and Vendor Oversight Manager is a senior practitioner responsible for driving Octane’s end-to-end procurement cycles and providing dedicated oversight for our most critical third-party partnerships, which are integral to the company’s overall risk posture. While this role manages the procurement process for all tiers of products and services, it serves as the primary, high-touch Relationship Owner for Tier 1-Critical vendors, ensuring third-party relationships are actively governed, risks are identified and mitigated, and vendor performance aligns with Octane’s risk appetite and regulatory obligations. Responsibilities: Universal Sourcing & Procurement Lead negotiations for all relationship issues, contract terms, pricing, and ad hoc projects. Procurement Lead: Serve as the primary procurement and sourcing lead for any goods or services requested by Octane team members. The primary focus is to ensure our High and Critical vendors have sufficient oversight and governance, pricing is competitive and we have optimal cost of ownership. Expectations are to support procurement needs for other vendor relationships as needed. Review, redline, and negotiate contracts, SLAs, and SOWs to secure optimal business and legal terms for Octane, and monitor the strength of existing contract agre
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