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-relatedinitiativeswhether they involve supplier identification, evaluation, selection, negotiation, performancemanagementor escalation management. GSSseeksto avoid certain costs, deliver tangible cost reductions,furnishreliable analytical data and insights for improved decision making, and enable a socially responsible and diverse supplier base.
Background:
G SS seeks a professional with deep experiencein taxprocurement with a focus on strategic sourcing to support the overall Professional Services Categoryfor BlackRock at a global level The subcategories within this space include audit, tax, due diligence, investments, non-IT consultingincluding managed services, disclosures/reportingand proxy voting.
This professional shouldbe responsible forend-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 ina timelyfashion, 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 tooptimizeprocesses and achieve businessobjectives
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 maintainstrong relationships with key tax suppliers, negotiating and drafting global engagement letters, gaining favourableterms into contracts, ensuring the highest standards of quality and service.
Market Analysis:Conduct thorough market research and analysis to identifytrends, 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:Identifypotential 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 withcorporate policies, ethical standards, and legal requirements.
Experience required:
At least 5-10 yearsofstrategic sourcing experience in Tax, consulting, accounting, regulatory services, or financial services institution, with a proventrack recordof success in a sourcing advisory role that works with the Big 4-Tax,accountingand professional services firms.
A passion for the investment advisory and professional services sector, including a comprehensive understanding of market drivers, trends, and dynamicsThis should include knowledge of how to negotiate tax engagement letter agreements in this sector
Expertisewith 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 providersThis includes a solid understanding of contract law, including demonstrated ability to understand,interpretand 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,possessingsuperior 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 iscomprisedof 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.
BlackRock is a global asset manager and technology provider dedicated to helping more and more people experience financial well-being.
We help millions of people invest to build savings that serve them throughout their lives. We always start with our clients’ needs and look to offer them more quality choices for how and where to invest their money.
Our global investments platform offers our clients access to the world’s markets while making investing easier and more affordable. And with offices in more than 40 countries, our global expertise helps them navigate changing markets to stay ahead of the curve.
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