Paxos is on a mission to enable the movement of any asset, any time, in a trustworthy way. Today’s financial infrastructure is archaic, expensive, inefficient and risky - supporting a system that leaves out more people than it lets in. So we’re rebuilding it.
As a regulated blockchain infrastructure company, we use technology to tokenize, custody, trade, and settle assets for enterprise clients like PayPal, Novi, Bank of America, and Interactive Brokers. Paxos is a top-funded blockchain company, with more than $500 million in total funding from leading investors like OakHC/FT, Founders Fund, PayPal Ventures, and Declaration Partners. Together, we empower today’s financial leaders to build a more open, trusted economy.
Our Finance team is looking for a dynamic, creative and resourceful Strategic Sourcing and Procurement Lead. This individual must be a self-starter and team player who takes initiative, thrives in a fast-paced environment, and is excited about joining a team on a journey to modernize finance by mobilizing assets at the speed of the internet.
This leader will be responsible for the timely and cost-effective strategic sourcing of complex goods and/or services in accordance with corporate policies/procedures and best practices. This person advises and guides business units regarding the application and integration of procurement philosophies and techniques to meet the needs of both internal and external stakeholders (e.g. business unit leads, regulatory agencies, etc).
As a Strategic Sourcing and Procurement Lead, you'll get to:
- Lead the development and implementation of the sourcing and fulfillment strategy for Paxos across multiple businesses units and categories
- Develop category management and sourcing strategies to allow Paxos to capture cost reductions while maximizing quality, speed and scalability
- Develop, implement and manage an annual vendor review process and an ongoing vendor approval process
- Consolidate spend across the company to capture buying power with key suppliers who are motivated by our growth and mission
- Analyze spend to develop cost reduction roadmaps and strategies
- Earn trust with key partner teams to collaborate on requirements gathering, while leading RFP creation, response review, and supplier selection processes
- Negotiate contracts with key suppliers, including costs and terms of supply, service, and quality while working with cross-functional stakeholders
- Estimate risks and apply mitigating techniques, as well as negotiate contracts that comply with industry regulations.
- Manage transition to new suppliers/contracts post sourcing (including supplier on-boarding, catalog set up, policy changes)
- Establish management metrics for both suppliers and categories
- Optimize vendor base moving towards fewer strategic suppliers
- Prioritize contracts / categories based on benefit opportunities
- Immerse yourself in blockchain technology, cryptocurrency for enterprises and investors, our regulation-first approach, and more!
Your experience should include:
- 5-10 years of deep Category Experience in procurement operations and sourcing
- Working with state and federally regulated financial institutions and regulatory agencies
- Industry and supplier analysis, supplier negotiation and financial analysis
- Development and implementation of sourcing strategies
- Management of an annual vendor review and vendor approval process
You might also have:
- A track record of influencing internal and external stakeholders through competing priorities, dependencies and tradeoffs
- Comfort working in a tech-driven environment with the ability to coordinate across several stakeholder groups (Engineering, Operations, Compliance, Finance, Marketing, People, Strategic Initiatives)
- Broad understanding of contracts and business terms and conditions
- Strong written and verbal communication skills
What you’ll love about Paxos:
Paxos has consistently been named as a “Best Place to Work” by BuiltIn and was recently listed on the 2021 Forbes Fintech 50. All of our employees have significant ownership and impact on our business, as well as benefits like company equity, health insurance, family leave, a $500 quarterly stipend for development, a $500 stipend for home office setup and unlimited PTO. From team product demos and virtual lounge and learns to care packages and an active Slack #shoutouts channel, there are countless opportunities to connect and make your mark. Help us continue to build a new, open financial system from one of our three offices or right from your home!
- USDP Stablecoin Chosen for Facebook's Pilot of Novi Digital Wallet
- Forbes Names Paxos to 2021 Fintech 50
- Paxos Supports Interactive Brokers' Journey into Crypto Markets
- CB Insights Names Paxos to 2021 Fintech 250 for Crypto Category
- Paxos Supports Flourish Crypto
- Paxos National Trust Receives OCC Conditional Approval for De Novo Charter
- Paxos Raises $300M in Series D Funding at 2.4B Valuation
- Paxos & PayPal Bring Crypto to Millions of Users
Our Paxos team is made up of passionate people from all over the world with different perspectives and experiences. If this opportunity excites you, but your experience doesn’t perfectly match the description…apply! Unique voices help us build a more transparent and open economy.