Strategic Sourcing Specialist - Taxation
BlackRock Services India Pvt Ltd
Work from Office
Full Time
Min. 5 yearsJob Description
Global Strategic Sourcing Professional Services (Tax), Associate
About this role
Business Unit Overview:
BlackRock Finance consists of finance professionals across several disciplines such as Financial Planning & Analysis, Treasury, Tax, Finance Controls, Global Strategic Sourcing (“GSS”), Finance Platform Support and Controllers. GSS is a global team, with team members primarily based in New York, Gurgaon, Edinburgh, and Budapest. GSS aims to be an organization of trusted strategic sourcing advisors enabling BlackRock to achieve more value. The GSS team advises and supports business functions on all their supplier-related initiatives whether they involve supplier identification, evaluation, selection, negotiation, performance management or escalation management. GSS seeks to avoid certain costs, deliver tangible cost reductions, furnish reliable analytical data and insights for improved decision making, and enable a socially responsible and diverse supplier base.
Background:
GSS seeks a professional with deep experience in tax procurement with a focus on strategic sourcing to support the overall Professional Services Category for BlackRock at a global level. The subcategories within this space include audit, tax, due diligence, investments, non-IT consulting including managed services, disclosures/reporting and proxy voting.
This professional should be responsible for end-to-end management of strategic sourcing Tax related activities-- from understanding stakeholder needs and available suppliers in the marketplace, to performing supplier assessment & due diligence, to negotiating, redlining, executing supplier agreements in a timely fashion, and the creation of global tax engagement letters
Principal duties include:
Strategic Tax Advisory: Serve as a strategic advisor to all levels of management on all matters related to tax sourcing and procurement, offering insights and recommendations to optimize processes and achieve business objectives.
Sourcing Strategy Development: Develop and implement comprehensive sourcing strategies through competitive bidding, proofs-of-concept, demand management, supplier consolidation, and process reengineering efforts that align with the company's overall business goals, ensuring cost-effectiveness, quality, and social responsibility.
Supplier Relationship Management: Build and maintain strong relationships with key tax suppliers, negotiating and drafting global engagement letters, gaining favourable terms into contracts, ensuring the highest standards of quality and service.
Market Analysis: Conduct thorough market research and analysis to identify trends, risks, and opportunities within the supply chain, and prepare PowerPoint decks to support informed sourcing decision-making.
Cost Management: Implement cost-saving initiatives and strategies to reduce overall expenses without compromising on quality or performance.
Risk Management: Identify potential risks within the supply chain and develop mitigation plans to ensure business continuity and minimize disruptions.
Cross-Functional Collaboration: Work closely with internal stakeholders, including Business Function Leads, Category Leads, Third Party Risk, and Legal teams around the world in the negotiation of General Services Agreements, Engagement Letters, and Statements of Work.
Compliance and Ethics: Ensure all sourcing and procurement activities comply with corporate policies, ethical standards, and legal requirements.
Experience required:
At least 5-10 years of strategic sourcing experience in Tax, consulting, accounting, regulatory services, or financial services institution, with a proven track record of success in a sourcing advisory role that works with the Big 4 -Tax, accounting and professional services firms.
A passion for the investment advisory and professional services sector, including a comprehensive understanding of market drivers, trends, and dynamics. This should include knowledge of how to negotiate tax engagement letter agreements in this sector
Expertise with category planning, competitive bidding techniques (RFI, RFP, RFQ), creation of business cases, vendor selection, vendor risk due diligence, operations management, and vendor dispute/escalation management.
Financial modelling skills to build multiple negotiation scenarios, total cost of ownership models, consumption models, and demand forecasts based on spend analytics and other data sources.
Depth in drafting, redlining, and negotiating global contracts, including experience drafting engagement letters and service level agreements (SLAs), with professional service providers. This includes a solid understanding of contract law, including demonstrated ability to understand, interpret and articulate key legal terms in agreements.
Competencies:
Strong oral and written English language skills.
Demonstrable experience of leading tax related sourcing projects
Highly strategic thinker with a proactive approach to challenges and opportunities, possessing superior analytical skills, including the ability to translate analyses into negotiation strategies and results
Strong leadership and interpersonal skills, with the ability to work effectively in a team-oriented environment, eliciting support for key initiatives from senior management and other key stakeholders, by building and delivering clear, well-structured presentations
Detail-oriented and organized, with a commitment to excellence and continuous improvement.
Adaptable and resilient, with the ability to thrive in a fast-paced and dynamic business environment and with the willingness to adapt working hours to meet business needs and deadlines, understanding that most of the BlackRock supplier portfolio is comprised of firms based in the United States.
Proficient MS Office skills, including experience using CoPilot and other AI software products.
Education Requirements:
Bachelor’s Degree, with preferences for Accounting, Computer Science, Engineering, Economics, Finance, Data Science, Operations Research, Supply Chain Management, Entrepreneurship, or Legal Studies.
Advanced degrees in Business, Law, or related areas are a plus.
Our benefits
To help you stay energized, engaged and inspired, we offer a wide range of benefits including a strong retirement plan, tuition reimbursement, comprehensive healthcare, support for working parents and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.
Our hybrid work model
BlackRock’s hybrid work model is designed to enable a culture of collaboration and apprenticeship that enriches the experience of our employees, while supporting flexibility for all. Employees are currently required to work at least 4 days in the office per week, with the flexibility to work from home 1 day a week. Some business groups may require more time in the office due to their roles and responsibilities. We remain focused on increasing the impactful moments that arise when we work together in person – aligned with our commitment to performance and innovation. As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience here at BlackRock.
Guidance on AI use for candidates
At BlackRock, AI has long been part of how we work – enhancing decision-making, improving operations, and helping us deliver better outcomes for clients. We encourage candidates to use AI thoughtfully to learn, prepare, and work more effectively; but during our interview process, we want to focus on getting to know you through your own experiences, thinking, and judgment. To support you, we’ve provided guidance on when and how to use AI during our hiring process so you can approach each step with confidence and showcase your best self.
About BlackRock
At BlackRock, we are all connected by one mission: to help more and more people experience financial well-being. Our clients, and the people they serve, are saving for retirement, paying for their children’s educations, buying homes and starting businesses. Their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress.
This mission would not be possible without our smartest investment – the one we make in our employees. It’s why we’re dedicated to creating an environment where our colleagues feel welcomed, valued and supported with networks, benefits and development opportunities to help them thrive.
To learn more about BlackRock, please visit Careers.BlackRock.com. We also encourage you to get to know us on LinkedIn, Instagram, YouTube, X, and TikTok.
BlackRock is proud to be an Equal Opportunity Employer. We evaluate qualified applicants without regard to age, disability, family status, gender identity, race, religion, sex, sexual orientation and other protected attributes at law.
Experience Level
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