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Sourcing and Procurement Specialist

Acorns

Acorns

Operations
Irvine, CA, USA · Remote
Posted on Friday, November 3, 2023

At Acorns we look after the financial best interest of the up-and-coming. We are innovators. We make bold decisions. We stay curious, inspiring one another to push past all previous thresholds of possibility. We are one team and are building a diverse community of team members, partners, and customers from all walks of life to foster creativity, challenge conventional thinking, and put the tools of wealth-making in everyone’s hands.

We are looking for missionaries who are rooted in purpose, to join our team. We can achieve our goals if we are a team of missionaries working toward a shared purpose and mission.

Our mission? With benevolence and courage, we look after the financial best interests of the up-and-coming; beginning with the empowering, proud step of micro-investing.

How do we accomplish our mission? Our values.

Lead With Heart

With compassion, integrity, and tenacity, inspire yourself and others to move past all previous thresholds of possibility

Make Bold Decisions

We are creating a new world. Be optimistic, adventurous, and courageous. Leap fearlessly into the future

Always Build Trust

Say what you mean, mean what you say, and do what you say you’re going to do. We are all owners. We are one team

Never Stop Growing

Change IS the constant. Stay hungry and curious. Be relentless in the pursuit of progress

Find a way

Never settle, no excuses, nothing is impossible. Just make it happen

Our values guide us, and our mission drives us.

Come join us and help deliver financial wellness for the whole family, creating compound growth at every life stage.


Sourcing and Procurement Specialist | Acorns

Acorns is seeking a Sourcing and Procurement Specialist who will be reporting to the Sr. Strategic Sourcing Manager and will be responsible for end-to-end procurement activities, including but not limited to: partnering with internal stakeholders, data analysis, research, negotiation and strategy development, proposal analysis, vendor contract reviews and implementation. The assigned commodities span multiple categories, with an emphasis on SaaS, Marketing, Services and Equipment. The Sourcing and Procurement Specialist may also be tasked with supporting management in key sourcing initiatives. This position requires dedicated problem solving, contract negotiations, internal stakeholder relationships, and vendor management.

You’re right for the position if you thrive working in a fast paced environment, setting the highest standards, and working hard as a team to reach ambitious goals. You effortlessly shift gears and come up with workable solutions to problems. You like to come up with new ideas, and can focus on both the minor details and big picture. You are flexible, hard working, take pride in your work, and will do whatever it takes to get things done right.

This role has the option to be remote or based in our Irvine, CA or New York, NY offices.

Within 1 month, you will:

  • Embrace our mission to look after the financial best interests of the up-and-coming
  • Understand our brand, values, and story
  • Meet and develop partnerships with cross-functional stakeholders
  • Get familiar with our vendors and other service providers (use cases, needs and contract terms)
  • Get familiar with our tools and systems

Collaborate with stakeholders to get purchase requests signed quickly and efficiently

  • Facilitates Purchase Requisition to Purchase Order creation
  • Manage and upkeep the contract archive

Within 3 months, you will:

  • Manage vendor master list, and streamline vendor onboarding policies
  • Track onboarding/offboarding of Acorns’ vendors, including draft and send termination notices
  • Creates and distributes reports to identify near and long term renewals
  • Coordinate with departments and vendors for timely renewal execution
  • Collaborate with other departments to prioritize procurement needs
  • Become an expert and administrator for the Acorns procurement and contract systems, including but not limited to managing workflows, systems updates, approval hierarchies, and user permissions
  • Partner with AP to resolve any vendor, PO, and invoicing issues
  • Work closely with the Finance on budget spend to maximize cost efficiency within each department

Within 6 months of joining you will:

  • Draft and maintain contract summaries
  • Implement a vendor scorecard format and implement a process for rollout to our critical vendors
  • Gather data to report on critical vendors to the risk committee
  • Coordinate the documentation and participate in the implementation of a tool for vendor risk assessment
  • Coordinate and monitor that QBRs are taking place with our critical vendors
  • Use your experience to identify gaps in our policies, processes and systems and work with business partners to drive and develop changes that will help Acorns achieve its mission

What you will bring to Acorns:

  • BS/BA in Business or related field
  • 3+ years of procurement, sourcing or vendor management experience
  • Ability to assess suppliers against their contractual commitments and recommend to manager when a performance improvement plan is needed.
  • Project management skills, including the ability to assess required resources and critical path timeline for projects; with a passion for driving measurable results.
  • Proven skills in negotiating vendor contracts and managing procurement contracts.
  • Ability to understand, implement and operate procurement policies and procedures.
  • Knowledge and understanding of commercial contracts and basic legal terminology.
  • Knowledge of general accounting principles, cost analysis, Return On Investment (ROI), Total Cost of Ownership (TOC)
  • Ability to work independently and in a team environment.
  • Ability to work under moderate supervision and guidance.
  • Capable of effectively managing multiple projects simultaneously in a dynamic environment
  • Proficiency in Excel
  • Problem-solver with solution-oriented attitude
  • Thirst for delivering game-changing products
  • Exceptional drive and precision in delivery
  • A belief that your work is tied to your life's mission
  • Optimistic about the potential of societal change
  • FinTech background a plus

You are not expected to have experience with all listed requirements. If you feel passionate about Acorns' mission, vision, and values, please apply.

What we offer:

  • Competitive salary and stock options
  • A comprehensive benefits package to meet the needs of you and your family
  • Flexible work hours, location, and paid time off
  • 401k discretionary match
  • Monthly Acorns account contribution & GoHenry account for your family
  • Wellness Days - Company-wide quarterly days off to rest + recharge
  • Mindfulness, Mental Health, and Financial Wellness resources: Headspace, Ginger, and Addition Wealth are offered at no cost to you
  • Acorns Career Development Program (Monthly Acorns to Oaks training sessions, development plans, quarterly development check-ins, Cornerstone’s online training platform)
  • Roots Leadership Program for emerging leaders
  • Monthly community celebrations, events, panel discussions, and speakers
  • Talented and motivated team members who care deeply about one another, our mission, and our customers.
  • The rare opportunity to create a new world. We inspire one another every day to do meaningful work that solves big societal challenges.

About Acorns:

Acorns is how everyday consumers save & invest for the long term. To date, customers have invested over $15 billion with Acorns, much of it in spare change. By putting the tools of wealth-making in everyone's hands, Acorns has become the largest subscription service in U.S. consumer finance, serving over 10 million everyday Americans. Customers get automated investing in diversified portfolios, a simple retirement product, a bank account that helps people spend less to invest more, and bonus investments from 20k brands. Plus, everyday Americans can easily invest in their kids and get money news they can use, all from the same app. From acorns, mighty oaks do grow!

Mission:

With benevolence and courage, we look after the financial best interests of the up-and-coming; beginning with the empowering step of micro-investing.

Values:

  • Lead With Heart
  • Make Bold Decisions
  • Always Build Trust
  • Never Stop Growing
  • Find a Way

Commitment to a diverse community:

Acorns is committed to building a diverse community of customers, partners, and team members. We believe that fostering diversity not only fuels creativity but also challenges conventional thinking and helps us properly represent the unique experience of the everyday consumer that we serve.

Compensation Information:

The pay range for this position at commencement of employment is expected to be between $61,000 and $76,000/year; however, base pay offered may vary depending on multiple individualized factors, including market location, job-related knowledge, skills, and experience. The total compensation package for this position may also include other elements, including a sign-on bonus, equity grants, and discretionary cash bonus awards in addition to a full range of medical, financial, and/or other benefits (including 401(k) eligibility and various paid time off benefits, such as vacation, sick time, and parental leave), dependent on the position offered. Details of participation in these benefit plans will be provided if an employee receives an offer of employment.

If hired, employee will be in an “at-will position” and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors.