[Hiring] Sourcing & Vendor Oversight Manager @Octane

Role Description

The Sourcing and Vendor Oversight Manager is a senior practitioner responsible for driving Octane’s end-to-end procurement cycles and providing dedicated oversight for our most critical third-party partnerships, which are integral to the company’s overall risk posture. This role manages the procurement process for all tiers of products and services and serves as the primary, high-touch Relationship Owner for Tier 1-Critical vendors.

• Lead negotiations for all relationship issues, contract terms, pricing, and ad hoc projects.
• Serve as the primary procurement and sourcing lead for any goods or services requested by Octane team members.
• Review, redline, and negotiate contracts, SLAs, and SOWs to secure optimal business and legal terms for Octane.
• Lead the full sourcing lifecycle for all company sourcing needs with primary focus on critical/high risk exposure.
• Conduct spend analysis and competitive benchmarking to identify cost optimization and renegotiation opportunities.
• Serve as the primary day-to-day point of contact and Relationship Owner for all Critical vendors.
• Coordinate quarterly stewardship meetings, manage performance scorecards, and track KPIs.
• Maintain the Issues & Escalations log, driving vendor-related problems from identification to final resolution.
• Implement the ongoing review schedule and document all activities within the TPRM platform.
• Drive the execution of required onboarding and formal termination procedures.
• Partner with 1st and 2nd Line of Defense to ensure all third-party activities align with Octane’s risk appetite and industry regulations.
• Maintain accurate records within the vendor tracking system, including spend data, insurance certificates, and compliance certifications.
• Develop and refine sourcing templates, SOPs, and playbooks to create a repeatable and defensible procurement process.

Qualifications

• Bachelor’s degree in Business Administration, Supply Chain Management, or another related field.
• A minimum of 5-7+ years of professional experience in procurement, strategic sourcing, and/or third-party risk management (TPRM).
• Professional experience acting as the lead negotiator for complex commercial terms and service level agreements (SLAs).
• Previous experience in highly regulated industries (e.g., Banking, Financial Services, Fintech) is strongly preferred.
• Advanced skills in Microsoft Excel and financial analysis tools for spend analysis and cost modeling.
• Demonstrated expertise in contract redlining and the ability to structure Statements of Work (SOWs).
• Experience maintaining data integrity within vendor tracking systems.
• Foundational knowledge base of Cybersecurity, IT, physical security and similar high-risk vendors.
• Certified Professional in Supply Management (CPSM) or Certified Purchasing Manager (CPM) is preferred.
• Certified Third-Party Risk Professional (CTPRP) is preferred.

Requirements

• In addition to salary, Total Rewards include bonus eligibility, a stock option package, and benefits as outlined below.
• The role described above offers a base salary of $115,000 to $140,000 + corporate bonus eligibility.
• Your offer will be based on location, the alignment of your qualifications with the requirements of the job and internal equity.

Benefits

• Robust Health Care Plans (Medical, Dental & Vision)
• Generous Parental Leave
• Flexible Time Off (FTO) Policy - Time Off When You Need It
• Retirement Plan (401k) with company match!
• Educational Assistance/Tuition Reimbursement up to $3K/year
• Life Insurance (Basic, Voluntary & AD&D)
• Short Term / Long Term Disability
• Robust Ancillary benefits including accident insurance, hospital insurance, etc.
• Wellhub (Gympass) Wellness Benefit
• Recreational Safety Benefit

Company Description

Octane is unlocking the power of financial products for merchants and consumers. Our cutting-edge technology and innovative financial products empower businesses with more control and flexibility, enabling them to deliver seamless digital experiences, drive customer loyalty, and build long-term value.

Founded in 2014, Octane supports over 60 OEM partner brands and over 4,000 dealer partners, and has a team of over 600.