Job Classification:

Corporate - Human Resources

Data is the fuel for modern strategic Procurement, providing the essential insight to optimize cost, drive operational efficiencies, improve vendor performance, capture innovation, manage risk and enhance speed and quality of decision making. In this newly created role, the Director of Procurement Analytics will be responsible for defining, implementing, and managing procurement strategy to capture value from the vast ecosystem of global data related to 3rd-party expense, including:

• Spend, commercial & pricing analysis
• Category management analytics, market intelligence & price benchmarking
• Strategic sourcing analytics
• Contract Management
• Vendor Management & Performance
• Operational Performance & Continuous Improvement Opportunities

• Third-Party Risk
• ESG (Supplier Diversity, Scope 3 Emissions)

Prudential is a world leading Fortune 100 Global Insurance and Financial Services company. The Director of Procurement Analytics will be a vital member of Prudential’s Global Sourcing & Procurement (GSP) function. GSP drives strategic value from 3rd-party expense in support of organizational goals through unique insights, sophisticated sourcing and procurement, and best-in-class programs.

Role & Responsibilities

Defining Strategy

• In partnership with relevant stakeholders, define and execute strategy to leverage the vast spectrum of procurement data to generate analysis and insights of strategic value
• Establish strategies for aggregating fragmented and disparate sets of procurement data into a unified solution to present new insights and opportunities in the management of Prudential vendors
• Establish vision for building highly usable reports, dashboards, and custom data analytics designed around the needs of your internal stakeholders. Including leading the identification of a suite of vendor and procurement metrics that measure what matters (KPI’s)

Building Procurement Analytics Solutions

• Develop strong relationships across Global Sourcing & Procurement and with key internal stakeholders to understand needs and identify opportunities that can be supported by data-driven solutions. Collaborate and partner with relevant internal SME’s in the development of procurement analytics solutions to meet these needs.
• Build and maintain automated and insightful dashboards to visualize performance and opportunity from data derived from multiple sources. Along with establishing repeatable processes to identify, recommend and execute opportunities to drive greater value from 3rd-party expense
• Define and implement data acquisition and integration logic, selecting an appropriate combination of methods and tools to ensure optimal scalability and performance of the solution.
• Support enterprise strategies with regards to governance of data related to third-party expense to ensure data quality and accuracy.

Generating Analytics

• Utilize real-time data and advanced analytics to inform procurement decisions and identify opportunities, ensuring accuracy, efficiency, and effectiveness.
• Develop and implement a suite of Procurement metrics globally to inform strategic decisions with regards to 3rd-party expense. Monitor and adapt metrics based on changes in business priorities. Help the procurement organization understand and identify opportunities for greater value through descriptive & predictive analytics
• Proactively analyze data to answer key questions for partners, with an eye on what drives business performance.

Team Management:

• Lead, mentor and manage a small team in executing upon the procurement analytics goals of GSP.
• Manage project initiatives and daily activities of team members and business intelligence analysts

Experience

• 5+ years relevant experience building data analytics solutions; defining requirements, performing analytics and building visualization solutions across financial, operational or commercial use cases. Experience with procurement data is not essential but would be considered a plus.
• Proven experience with data visualization tools (PowerBI, Tableau) and techniques, as well as data mining and analytics tools and languages.
• Technical writing experience in relevant areas, including queries, reports, and presentations.
• Strong communication skills with the ability to build relationships and influence decision making at all levels of an organization
• Proven track record in leading initiatives, project management, cross-functional relationships
• Strong problem solving skills, ability to work well independently and as part of a team. Excellent problem solving skills.
• Preference for a relevant degree such as Bachelor's and Master's Degree in Computer Science, Statistics, Engineering, Mathematics, Business, Economics, Finance

The position is hybrid and with some on-site presence in Newark, NJ required.

What we offer you:

• Market competitive base salaries, with a yearly bonus potential at every level
• Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave
• Retirement plans:
• 401(k) plan with company match (up to 4%)
• Company-funded pension plan
• Wellness Programs to help you achieve your wellbeing goals, including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs
• Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
• Tuition Assistance to help finance traditional college enrollment toward obtaining an approved degree, many accredited certificate programs, and industry designations.
• Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period), after one year of service.

To find out more about our Total Reward package, see our Total Rewards Brochure. Some of the above benefits may not apply to part-time employees scheduled to work less than 20 hours per week.

Note: Prudential is required by state specific laws to include the salary range for this role when hiring a resident in applicable locations. The salary range for this role is from $148,800.00 to $201,200.00. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills. Roles may also be eligible for additional compensation and/or benefits. Eligibility to participate in a discretionary annual incentive program is subject to the rules governing the program, whereby an award, if any, depends on various factors including, without limitation, individual and organizational performance. In addition, employees are eligible for standard benefits package including paid time off, medical, dental and retirement.