This is a mid-level role within Visa’s Global Sourcing organization and the responsibilities range from building relationships with business and supplier executives and working with stakeholders at all levels of the organization to drive strategic decision, to leading sourcing business partners to deliver savings while balancing the risks and regulatory issues from engaging third parties.This role demands a strategic thinker with strong negotiation skills, in-depth knowledge of global insurance markets, and the ability to build strong relationships with internal stakeholders and external suppliers. Your expertise will be crucial in optimizing Visa's spend on employee insurance benefits while ensuring compliance, managing risks, and aligning with company objectives.Essential FunctionsThis role supports leaders in Visa’s People (HR) team including VPs, Directors in the US as well as in the regionsBuild strong relationships with business partners to drive Sourcing engagements and influence role of Sourcing within the various business teams.  This person can expect direct visibility to senior executives including, but not limited to, Visa’s SVP, and Leadership Team members.Regularly update executives at all levels of the company on deal status, category reporting, etc.  Provide continuous written and verbal updates to the business partners, suppliers and other stakeholders on the status of deal.Take a global view to ensure that Visa leverages its scale domestically and internationally. Category ExpertiseAs a sourcing professional with deep expertise in procuring employee insurance benefits on a global scale, your category expertise will include:Collaborating with Category Teams and Visa Stakeholders: Work closely with category teams and key stakeholders within Visa to establish supplier strategies specific to employee insurance benefits. This includes identifying and partnering with preferred insurance carriers to optimize spend and service quality for Visa employees worldwide.Applying Knowledge of Insurance Procurement Models: Leverage your comprehensive understanding of various insurance procurement models, to negotiate and secure the best terms for Visa.Serving as a Trusted Partner: Act as a reliable advisor to Visa business partners across Strategy, Finance, Risk, Human Resources, and Corporate Functions. Provide insights and recommendations that align insurance benefit sourcing with organizational goals and employee needs.Delivering End-to-End Sourcing Services: Lead the sourcing process for insurance benefits, including executing RFX processes, conducting negotiations, reviewing contracts, and managing other sourcing-related activities. Ensure that all procurement actions are efficient, cost-effective, and compliant with Visa's policies.Defining Optimal Contract Structures: Develop and recommend the best contract structures for Master Service Agreements (MSAs) and Statements of Work (SOWs). Focus on terms that manage risk, protect data privacy, ensure cybersecurity, and provide favorable commercial conditions.Performing Market Analysis: Conduct thorough market analyses to stay informed about industry trends, benchmark pricing, and emerging solutions in the global insurance market. Use this information to support strategic recommendations to stakeholders.Developing and Managing a Project Pipeline: Proactively identify and cultivate a pipeline of sourcing projects related to employee insurance benefits. Engage with stakeholder business partners to prioritize initiatives that deliver value and drive organizational objectives.Maintaining Regulatory Awareness: Stay abreast of global regulatory developments that impact insurance sourcing strategies and market approaches. Assess and communicate how changes in regulations may affect Visa's insurance programs and procurement activities.This role will have global reach, high impact, and will be responsible for delivery of key program-level initiatives.  The preferred candidate will bring an deep passion for People/ HR industry, leading practices in consulting services, trends in digital and AI  and supplier management  and have a can-do attitude.  Sourcing Capabilities - Commercial & Contract NegotiationsManage escalations. Support the Sourcing and Stakeholder teams to negotiate and drive best-in-class deals for Visa.  This role requires a strategic view and the willingness to execute on the day-to-day.Drive multi-vendor strategies to optimize Visa’s leverage and reduce operational risk. Execute RFx events to support Visa’s Sourcing organization.Perform savings tracking and report realized savings on a continual basis.Negotiate contract terms and conditions as a first line of defense, in partnership with Visa Legal, Data Privacy, Cybersecurity, and other teams.Take part in quarterly reporting, regularly recurring team meetings, and ongoing updates to direct reports, peers and leaders around the organization. This is a hybrid position. Expectation of days in office will be confirmed by your Hiring Manager.