Michal Sroka Email and Phone Number

Reporting to the Chief Procurement Officer, responsible for developing and managing Truist end to end sourcing process and supply management lifecycle through strategic category management and efficient use of sourcing processes and techniques. In addition to developing and managing a team of Category Directors and Managers to drive category management and ensure execution of sourcing objectives, responsible for the overall coordination of resources and operations across the full Sourcing and Supply Management lifecycle, including but not limited to Contracting / Contract Management, P2P / Procurement Operations, Spend Analytics, Third Party Risk Management and AP / Payment controls. Manages a total purchasing volume over 4.7 billion in spend and a $325M third party savings target.

Manage a team of Sourcing and Procurement Professionals responsible for developing sourcing category strategies and overseeing the creation and execution of strategic sourcing initiatives within the Consumer and Wholesale LOBs for the following commodities: IT (Software, Hardware, ASP, Outsourced Services), Offshore Services, Market Data, Credit Data, Memberships/Subscriptions, Professional Services, Card Services, Banking Services, Loan Services, Collections, Courier and Postage, and Trading/Investment/Wealth Management Services representing over $1.2B in annual spendAs the Sourcing Lead and Relationship Manager (RM) for the Consumer and Wholesale Lines of Business (LOBs -including Treasury and Payment Solutions, Corporate Investment Banking, Business Banking, Commercial Lending, Leasing, Commercial Real Estate, Consumer and Mortgage Lending, Retail, Private Wealth, Lightstream, and Consumer Card) serve as the single point of contact for the Consumer and Wholesale LOBs responsible for collaborating with business partners to understand their strategies and facilitate development of congruent supply chain and category strategies, prioritize business needs for contract support, and ensure engagement of appropriate resources across Strategic Sourcing Management and partnership with key internal partners (i.e., Legal, Third Party Risk Management, and Finance) to deliver supply value with effective risk mitigationResponsible for the end to end Sourcing Model for Consumer and Wholesale LOBs, including the effective implementation of third party performance management to mitigate third party riskActively engage Consumer’s and Wholesale’s leadership team to plan and prioritize engagements, ensure project delivery to mutually agreed upon timelines and expectations. Overall client satisfaction responsibility

Responsible for managing a virtual team of Supply Chain professionals. Led sourcing, contract negotiation, transactions contracting and supplier performance management within Outsourced Services.Accountable for establishing and maintaining key performance metrics, policies, and procedures geared toward promoting value based relationships with suppliers globally. Developed and implemented spend management techniques to promote supplier rationalization and improvement in total cost of ownership.Monitored strategic relationships with top suppliers including gap analysis and provided documented sourcing strategies with measurable goals and objectives to rationalize the supply base and improve service levels.Led Technology and Telecom’s global strategic sourcing and demand management strategies in collaboration with the LOB, Sales, and Solutions Architects.Consolidated and leveraged NCR’s spend globally, to achieve improved cost, quality, service solutions from suppliers within Technology and Telecom, and Outsourced Field Labor. Led a cross-functional team to develop a strategy for the negotiation of a self-service “rent a tech” model within Outsourced Field Labor. Achieved over 43% in cost savings by reducing suppliers self service fees.

Effectively communicated to, built relationships with, and led cross-functional teams at all levels within SunTrust. Developed strategies for complex negotiations, and delivered results that drove savings and mitigated risk for SunTrust. Identified and implemented over $10MM in cost out and cost avoidance savings in 2011, based on an annual spend of $70MM.Managed and proactively drove supplier selection, assessment, negotiation, contract performance, quality improvements, and cost reductions within the IT commodity (including Software License, Application Service Provider, Outsourcing Service, and Master Services Agreements).Engaged and led a cross-functional team (composed of Senior Executives from the following channels: Commercial, Mobile, ATM, and Branch) to develop a strategy for the negotiation of an enterprise deal for NCR’s APTRA Passport multi-channel remote deposit capture solution. Achieved over $2.0MM or 25%, in cost savings by reducing software license and maintenance fees. As part of the Playbook for Profitable Growth “PPG” (an enterprise wide savings initiative with a targeted savings goal of $120MM for Strategic Sourcing), chosen by Senior Executives to lead the legal savings workstream. Utilizing the end to end sourcing process achieved a savings of over $6MM (on $42MM of addressable legal spend) for SunTrust.Consistently demonstrated a strong ability to conduct price negotiations and to implement the end to end sourcing model including: baseline spend analysis, working with Line of Business to create strategies, building and managing RFx events, compiling RFx data, helping Line of Business make informed decisions, pricing negotiations, vendor presentations, vendor selection, vendor scoring, contract negotiations and implementation,

As part of the Keyvolution (an enterprise wide savings initiative with a targeted savings goal of $80MM for Corporate Procurement) travel, legal, consulting, and appraisal work streams, worked closely with Line of Business and Booz & Company Inc. (utilizing the end to end sourcing process) to identify, analyze, and implement savings opportunities throughout KeyBank, which resulted in $22MM (based on $100MM of addressable spend) in cost savings.Led the Asset Recover Group (ARG) in a collaborative cross-functional project to develop a strategic and risk based approach for the on-boarding of third party vendors, while supporting ARG’s monetary loss mitigation efforts, and driving savings opportunities and mitigating risk for KeyBank. Identified and implemented over $8MM (based on $50MM of addressable spend) in cost out savings.Negotiated, drafted and reviewed the following types of agreements for the acquisition of goods and services: Software License, Application Service Provider, Outsourcing Service, Master Services, Research, Training, and Sponsorship.Identified and led cross-functional teams to develop and drive savings and efficiency strategies for Line of Business, while building relationships and credibility across KeyBank.Worked closely with multiple KeyBank Line of Business (including IT, legal, marketing, training, and human resources) and Senior Executives to ensure that business needs were properly integrated into contracts. Advised and supported management and staff regarding legal issues, contract risk mitigation, principles of law, and negotiation strategies. Assessed risk associated with each deal and ensured that appropriate contractual protections were in place.Acknowledged for driving total cost of ownership through leveraging spend across multiple Line of Business, implementing year over year cost reductions and conducting structured and knowledgeable negotiations.

Developed compliance related policies, and conducted implementation of the 340(b) drug discount program. Identified and implemented over $10MM in savings for hospitals throughout the United States.Analyzed the Medicare disproportionate share payment and patient eligibility for several hospitals throughout the U.S. Identified and implemented over $20MM in new revenue for hospitals throughout the United States.Conducted analysis of New York and Ohio Wage Index projects to ensure optimal reimbursement rates for a Metropolitan Statistical Area (MSA). Identified and implemented over $5MM in new revenue for hospitals throughout the United States.Conducted Financial Feasibility Engagements and efficiency studies identifying anticipated merger related savings in the consolidation of two health systems.Demonstrated strong analytical and problem solving skills; and exceptional client management skills.