Head of Procurement

ABOUT US

Coastal Community Bank is a leader in Banking with strong Financial infrastructure leading Banking as a Service (BaaS) and Fintech strategies. The people at Coastal not only help people with their personal banking; they help businesses with banking technology integration that leads to business growth, flexible financing, and unimagined potential. We think and work like entrepreneurs, always moving and constantly improving. We are go-getters, work hard, and play hard. If you're someone who thrives on innovation, wants to help others succeed, knows how to think outside the box, and believes that we're all in this together - you belong here.

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Requirements

OVERVIEW

The Head of Procurement will lead end-to-end sourcing and purchasing activities for the software, cloud, and technology services that power Coastal's BaaS platform. This role partners cross-functionally with Engineering, Product, Legal, TPRM, and Finance to source, evaluate, and negotiate with vendors, drive commercial savings, and ensure contracts and suppliers align with regulatory and security expectations.

You will own the intake-to-award lifecycle for new technology buys and renewals, including business case development, market scans/RFx, negotiations, contract execution, purchase order creation, and ongoing vendor/contract hygiene. You will develop cost models and total cost of ownership (TCO) analyses, optimize license consumption, and maintain accurate software and services inventories to reduce spend, minimize risk, and improve time-to-value for internal stakeholders and BaaS partners.

RESPONSIBILITIES TO INCLUDE

• Manage end-to-end sourcing for technology categories (SaaS, cloud IaaS/PaaS, developer tools, observability, cybersecurity, data platforms, KYC/AML & fraud, payments/card processing tech, customer support and ticketing, and professional services).
• Run structured RFx processes (RFI/RFP/RFQ), vendor due diligence, and competitive analyses; create award recommendations grounded in TCO, risk, and performance.
• Lead commercial and contractual negotiations (MSA, SOW, Order Forms, SLAs, DPAs/Privacy Addenda, security exhibits, BAAs where applicable), partnering with Legal and InfoSec.
• Prepare business cases, cost/benefit models, and should-cost analyses; benchmark pricing and terms against market norms.
• Own renewals and true-ups; optimize license tiers, user counts, and utilization; avoid auto-renew surprises through a disciplined renewal calendar.
• Support audit and exam readiness by maintaining complete sourcing files and evidence of competitive process, approvals, and monitoring.
• Collaborate with BaaS business leaders to anticipate partner-driven technology needs; enable rapid, compliant onboarding of critical vendors for new fintech programs.
• Identify and deliver measurable savings and cost avoidance while balancing speed, resilience, and risk.
• Develop and publish procurement policy, playbooks, and templates; coach stakeholders on process, timelines, and best practices.
• Track and report sourcing pipeline, cycle times, savings, renewal health, and compliance metrics to leadership.

QUALIFICATIONS

• 4+ years of procurement/strategic sourcing experience with a focus on technology/software; financial services, fintech, or highly regulated industry strongly preferred.
• Demonstrated success running RFx processes and negotiating commercial and legal terms for SaaS, cloud, and professional services agreements.
• Strong analytical skills: Excel-based cost modeling, TCO/ROI analysis, and scenario modeling; ability to translate usage data into optimal license strategy.
• Comfortable redlining business terms (pricing, SLAs, service credits, termination rights, data use, subcontracting, information security, privacy) and partnering with Legal on risk allocation.
• Proven stakeholder management and communication skills with Engineering, InfoSec, Product, Finance, and executive leaders; able to influence without authority and drive decisions.

EDUCATION/EXPERIENCE

• Bachelor's degree in Business, Finance, Information Systems, or related field; or equivalent practical experience.
• Professional certifications a plus (e.g., CPSM/ISM, CTPRP/Shared Assessments, PMP, or similar).
• Proficiency with Procurement software, Ironclad, Docusign, Microsoft Office.

HOW YOU'LL THRIVE AT COASTAL

• Be the Best - Communicate effectively, pay close attention to detail, and prioritize your personal development.
• Be Relentless - Thrive in a goal-oriented environment exercising both patience and persistence. Advocate for our customers and team members and strive to promote the Coastal Difference.
• Be Un-Bankey - Be a forward thinker with a creative mindset. Build long-lasting relationships promoting the Coastal Difference, built on a foundation of integrity, honesty, and trust.
• Embrace Gray Thinking - Use sound judgment while decision-making and problem-solving. Think outside the box.
• Stay Flexible - Organize and strategize effectively while always being prepared to adapt on the fly. Seek efficiencies for Coastal to work smarter, not harder.
• Take Care of Each Other - Understand what it means to be a true team player and have your teammate's back. Practice self-awareness and build your emotional intelligence.

BEING YOU AT COASTAL

Coastal Community Bank is an equal opportunity employer. We are committed to providing a workplace free from discrimination and harassment. All employment decisions are based on merit, qualifications, and business needs. We do not discriminate on the basis of race, color, religion, sex, national origin, age, disability, veteran status, or any other protected status under applicable laws.

BENEFITS WE OFFER

We're proud to offer a comprehensive benefits package designed to support your health, financial well-being, and work-life balance. Our offerings include:

• Medical Coverage: Choose from three competitive medical plans to find the coverage that best fits your needs and lifestyle.
• Health Savings Account (HSA): Available with eligible medical plans, offering tax advantages and employer contributions.
• Flexible Spending Accounts (FSA): Options for healthcare and dependent care expenses to help you save on out-of-pocket costs.
• Dental and Vision Insurance: Plans to keep you and your family smiling and seeing clearly.
• Life Insurance: Company-paid basic life insurance with options to purchase additional coverage for yourself and your dependents.
• Long-Term /Short-Term Disability (LTD): Income protection in the event of a long-term illness or injury.
• Supplemental Benefits: Including Hospital Indemnity, Accident Insurance, and Critical Illness coverage to provide extra financial support when you need it most.
• 401(k) Retirement Plan: A competitive retirement savings plan with company matching to help you plan for the future.
• Paid Time Off: Generous vacation and sick leave policies to support your time away from work.
• Holidays: Enjoy 11 paid holidays throughout the year.

Check out our benefits on our careers site!

PHYSICAL DEMANDS

The physical demands described below are required to perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee must be able to:

• Sit for extended periods of time.
• Stand for extended periods of time.
• Perform repetitive finger, hand, and arm movement.
• Use electronic office equipment such as a computer keyboard, mouse, ten key, telephone, etc.
• View and read computer screens for extended periods.
• Occasionally stoop, kneel, crouch, or crawl.
• Occasionally lift or move up to 10 pounds.

OTHER DUTIES

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

ACKNOWLEDGEMENT

The employee is expected to adhere to all company policies and to act as a role model in the adherence to policies. Job Descriptions are not intended as and do not create employment contracts. Coastal Community Bank maintains its status as an at-will employer. Employees can be terminated for any reason not prohibited by law.

Salary Description

$106,965 - $128,358