Procurement Analyst

Why Bank OZK Founded on a legacy of more than 120 years in banking, Bank OZK is much more than just a company. We’re nationally recognized as an industry leader in financial services. That means we combine exceptional service with innovative technologies to deliver smart solutions to our clients across the country. We’re investing in small businesses, fueling economies in local communities and changing skylines in the largest cities across America. Here, we're not simply filling roles. We're fostering even greater careers. The foundation for a great career starts with an exceptional team and a comprehensive benefits package. We believe in providing our dedicated team members with the best resources to support their physical, mental and financial wellbeing, including generous PTO, 401(k) matching, health, dental, vision (and pet!) insurance as well as special perks and discounts. Learn more about Bank OZK benefits . Job Purpose & Scope Coordinates primarily small-spend/low-tier total cost of ownership software contract negotiations for in-scope Vendor Management Office (VMO) purchases and supports Officers and management with small- to mid-spend negotiations. Supports the Bank’s procurement workflow and contract repository system, including data integrity and reporting. Essential Job Functions Monitors and ensures compliance with established purchasing policies for small spend contract negotiations. Collects, researches, and analyzes data regarding technology-related business needs. Negotiates with vendors for the procurement of technology-related services to be run in-house or in a third-party hosted environment, as needed. Analyzes contracts and makes recommendations on terms and conditions. Collaborates with Legal and third-party relationship owner(s) to review vendor responses to redlined contracts and assists with or may complete the negotiation process. Meets with management to review and discuss contracts, as necessary. Tracks and reports savings generated from negotiation efforts. Develops and maintains recurring metrics and reports (e.g., savings, cycle time, renewal pipeline, and vendor activity) to support management decision-making. Performs trend and variance analysis on vendor pricing and renewal terms to identify cost drivers, risks, and opportunities for optimization. Supports procurement process improvement by validating data in the workflow/repository, identifying gaps, and recommending enhancements to controls, templates, and reporting. Research potential software solutions to meet the needs of the business, as needed. Performs contract administration by monitoring the Bank’s contract repository and coordinating with other members of the VMO, Legal, and TPRM to ensure the accuracy and completeness of the repository. Responsible for managing NDAs in accordance with the Bank’s policy. Reviews renewal pricing for alignment and works to mitigate cost increases, as needed. Participates in special projects and performs other procurement and purchasing duties, as assigned. Knowledge, Skills & Abilities General knowledge of business contract terms and negotiation practices. Basic knowledge of vendor management software functionality. Ability to understand and anticipate business implications of decisions. Ability to analyze and interpret quantitative and qualitative data, summarize findings, and present actionable insights to stakeholders. Ability to communicate effectively both verbally and in writing. Ability to review and understand complex or diverse information. Ability to demonstrate creativity, critical thinking, initiative, and problem-solving skills. Ability to identify and resolve problems in a timely manner. Ability to multitask and handle repeated interruptions effectively. Ability to operate and work collaboratively in a fast-paced, unpredictable environment, with exacting deadlines. Ability to manage multiple work streams and deliverables, and coordinate across functional initiatives. Ability to demonstrate effective planning, organizational and time management skills. Ability to work under general supervision. Ability to maintain accuracy, thoroughness, and attention to detail. Ability to work extended hours as necessary. Skill in building and maintaining reports, trackers, and simple dashboards using Excel (e.g., pivot tables, lookups, and charts); ability to learn new reporting tools as needed. Skill in using computers and Microsoft Office, including Word, Excel, PowerPoint, and Outlook. Basic Qualifications High school diploma or equivalent required. 1+ year of work experience in purchasing/procurement, vendor contract administration/management, third-party risk management, and/or a comparable analyst background, required. Preferred Qualifications: Experience with procurement/vendor metrics and reporting preferred. Experience in a financial institution or banking environment preferred. Advanced proficiency with Excel preferred. Job Expectations Operate customary equipment and technology used in a business environment, with or without accommodation. Note: This description is not an exhaustive list of all job functions, duties, skills, and job standards required. Other job functions, duties, skills, and standards may be added. Management reserves the right to add or change the job requirements at any time. #LI-RV1 EEO Statement Bank OZK is an equal opportunity employer and gives consideration for employment to qualified applicants without regard to race, color, religion, sex, national origin, age, sexual orientation, gender identity, disability status, protected veteran status, or any other characteristic protected by federal, state, and local law. Member FDIC. General knowledge of business contract terms and negotiation practices. Basic knowledge of vendor management software functionality. Ability to understand and anticipate business implications of decisions. Ability to analyze and interpret quantitative and qualitative data, summarize findings, and present actionable insights to stakeholders. Ability to communicate effectively both verbally and in writing. Ability to review and understand complex or diverse information. Ability to demonstrate creativity, critical thinking, initiative, and problem-solving skills. Ability to identify and resolve problems in a timely manner. Ability to multitask and handle repeated interruptions effectively. Ability to operate and work collaboratively in a fast-paced, unpredictable environment, with exacting deadlines. Ability to manage multiple work streams and deliverables, and coordinate across functional initiatives. Ability to demonstrate effective planning, organizational and time management skills. Ability to work under general supervision. Ability to maintain accuracy, thoroughness, and attention to detail. Ability to work extended hours as necessary. Skill in building and maintaining reports, trackers, and simple dashboards using Excel (e.g., pivot tables, lookups, and charts); ability to learn new reporting tools as needed. Skill in using computers and Microsoft Office, including Word, Excel, PowerPoint, and Outlook. High school diploma or equivalent required. 1+ year of work experience in purchasing/procurement, vendor contract administration/management, third-party risk management, and/or a comparable analyst background, required. Preferred Qualifications: Experience with procurement/vendor metrics and reporting preferred. Experience in a financial institution or banking environment preferred. Advanced proficiency with Excel preferred.