Senior Director, Strategic Sourcing

The Role:

Reporting to the Vice President of Financial Planning & Analysis (FP&A), the Senior Director, Strategic Sourcing is a newly created position which will play a pivotal role in Nuvalent’s continued growth. This hands-on role will be accountable for the development & execution of sourcing strategies, contract negotiations, savings initiatives & collaborative relationships with vendors to enable sound business decisions.

Working closely with key stakeholders, this is a highly visible role that will primarily be responsible for elevating our sourcing & vendor management capabilities as we prepare for our commercial launch & post launch stage. The ideal candidate is a results-oriented self-starter who is looking to join a rapidly growing company. In addition, this candidate has a keen interest in finding the optimal outcome that may include balancing broader trade-offs, rather than a purely cost-focused solution. The successful candidate should have extensive knowledge of clinical studies & CROs as well as be able to assist the broader business as the needs arise.

 Responsibilities:

Strategic Sourcing

• Create & execute sourcing strategies to drive cost optimization, improve vendor performance & minimize overall risk
• Partner closely with Finance/Accounting, Legal & internal business owners, engaging other internal departments such as QA, Regulatory & Compliance as needed to understand business needs & align sourcing strategies with broader company goals
• Help navigate various functions through stages of contract lifecycle including risk management analysis, due diligence, requirements and information gathering, RFP preparations, selection, negotiation, change order management and termination
• Develop preferred provider structure, strategic pricing negotiations including detailed scopes of work, accurate and complete exhibits and schedules, and consistent payment terms to ensure prices are competitive against the market and programs remain in budget
• Lead the implementation & execution of cross-functional governance structure internally & with respective vendors
• Evaluate and implement policies, processes, and systems as needed to support sustainable sourcing operations, ensuring adherence to legal, regulatory, and ethical standards

Vendor Management

• Build strong relationships with key vendors with the intent to have effective & efficient contract management, pricing negotiations & governance structure
• Implement & lead business review meetings to monitor vendor performance and budget adherence
• Assist with identifying & responding to any potential or actual vendor issues in a timely manner; escalate through the appropriate channels as needed
• Facilitate discussion and resolution between internal business owners and vendors to resolve issues related to contractual or operational performance as needed
• Develop and monitor performance metrics to ensure timely delivery of work product in accordance with agreed specifications
• Participate in vendor onboarding processes

Procurement Operations

• Work closely with Finance/Accounting team to transition the existing PO related activities to this newly created function
• Collaborate with business teams to generate purchase orders with relevant item descriptions, pricing details, and other necessary information that meet the needs of the organization
• Act as liaison between internal business owners and Finance/Accounting to resolve any invoicing/PO issues

In addition, this position will be responsible for the following:

• Build out this newly created function with a strategic & thoughtful approach. Effectively lead & develop the function
• Communicate & educate the organization on any new tools, processes & reporting
• Complete ad-hoc projects & initiatives assigned

 

Competencies:

• Strong interpersonal skills to collaborate, influence and build credibility with business partners across the organization & especially with Finance/Accounting & Legal teams
• Prior experience in leading sourcing, vendor & procurement initiatives from strategy development through execution & implementation
• High level of negotiation acumen, including strong contract negotiation skills which results in mutually beneficial outcomes
• Passion for designing, implementing & streamlining processes & reporting, with attention to detail & accuracy
• Thrive with constant change & continuous improvement, "rolling up sleeves", performing in a fast-paced, dynamic work environment
• Strong analytical skills coupled with ability to make recommendations for changes as needed
• High level of integrity and principles that embrace transparency and ethics
• Results orientated work ethic and a positive, can-do attitude

 

Qualifications:

• Bachelor’s degree in a scientific or business field, MBA preferred
• 15+ years of progressive experience in the pharmaceutical or biotechnology industry
• System savvy & experience with NetSuite & Agiloft is a plus
• Strong communications skills and executive presence
• Excellent Excel, PowerPoint, and analytical skills

 

Additional Information:

Nuvalent is committed to fair and equitable compensation practices, aiming to provide employees with competitive total rewards packages.

The annual targeted base salary range for this role is $259,000 – $302,000. 

The targeted range reflects what Nuvalent reasonably and in good faith expects to offer for this position at the time of posting, but the final salary determination may be within or outside this range based on various factors, including, but not limited to, experience, skills, education, and market factors.  The range will be reviewed regularly and is subject to change.

Nuvalent also offers a comprehensive benefit package to support our employees at each stage of their career, financial, health, and well-being journey, including medical, dental, and vision insurance, 401(k) retirement savings plan, generous paid time off (including a summer and winter company shutdown), and much more.