PRIMARY PURPOSE OF THE POSITION
Incumbent serves as the lead negotiator for contracts within TRP for key technology vendors. Works with senior technology mangers to identify needs and recommend contracting strategy solutions for professional services, technology (e.g. software, licenses, maintenance, data feeds, etc) and other contract types that may be required. Influences selection and manages the contract-to-pay cycle while minimizing risk and maximizing opportunity of contract engagements. Effectively communicates project and contract findings and facilitates consensus building to lead TRP customers or project teams in taking steps and making decisions which support compliance requirements, comply with corporate policies, follow guidelines, provide consistency, protect company, leverage vendor relations and manage risk while ensuring value for the enterprise. Responsibilities may include: identifying applicable vendor pool, reviewing RFPs & RFIs, developing/drafting corporate policies and procedures, reviewing, interpreting and negotiating contracts, and monitoring/leveraging vendor relationships. Charged with educating customers of the procurement process and holding them accountable for corporate policy. Functions independently, with minimal oversight, making sound decisions and taking actions which impact projects, business units and the company.
Serves as the primary negotiator for T. Rowe Price key technology vendors including IBM, Oracle, DST, Sungard, etc. Responsible for researching and recommending potential negotiations and contracting strategies. Is considered an expert in the acquisition, contracting and vendor management for these key vendors Works in collaboration with Legal and business to ensure final contract is in compliance with firm policy, minimizes risk, and maximizes opportunity while meeting the customer needs. Requires the ability to be forward thinking and flexible in meeting both internal customer and external vendor requirements
Once the vendor is selected, incumbent manages contract review and negotiation process in compliance with firm policies. Incumbent meets with internal customers to educate them on negotiation process and to vet out contract details, often drafting further documentation and requirements. Exercises sound business judgment and persuasion in order to enforce firm policies and lead business towards making the most beneficial and cost effective selection.
Works with the senior technology managers to ensure compliance to T. Rowe Price license agreements with our key vendors. Educates GBS&T managers on best practices for license management and serves as a member of the Software Asset Management Committee.
Leads through matrix management project managers, vendor managers and GBS&T Finance through multi-dimensional projects. These projects include strategy development, strategic sourcing, vendor issue resolution, and contract/vendor restructuring.
Continuously educates themself on the trends in the technology sourcing and contracting. Ensures that T. Rowe Price utilizes best in class contracting strategies.
- Institutional Supplier Management Certification
- 5-7 years related work experience in technology contracting or contract negotiator.
- Solid understanding of general industry trends
- Working knowledge of business law
- Ability to accurately interpret contract documents for business and legal implication to the company
- Project Management skills
- Self-starter & Self-motivator
- Strong negotiation skills
- Ability to independently prioritize work load and projects
- Consensus Builder to achieve individual buy-in, project progress and team success within diverse organizational groups.
- Soft Skills, ability to recognize level of audience sophistication, interact effectively and communicate complex concepts and strategies.
- Ability to sell ideas and concepts to vendors and internal customers.
- College degree and 8 years of related work experience, or
- Associate degree and 10 years related work experience, or
- High School diploma/equivalent and 15 years related work experience