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Dynamic, results-driven Senior Supply Chain/Third Party Risk Management Executive with demonstrated accomplishments in all disciplines of procurement, supply chain management, 3rd party risk, real estate, expense management, and business process outsourcing/off shoring across diverse industries. Proven expertise in cost reduction, strategic sourcing, business process transformation, 3rd Party Risk design and enabling technologies. Recognized as a proven strategic thinker, turnaround expert and leader/team builder.Have developed and led several Supply/Third Party Risk Management organizations where my teams have: • Transformed tactical, regional Supply Management and Procurement activities into globally integrated, world-class strategic sourcing and purchase-to-pay programs and functions … dramatically reducing purchase-to-pay cycle times and cost, while also delivering over $1Bn in strategic sourcing savings • Created the first global 3rd Party Risk Management program for a major Canadian Bank across 50 countries and 190,000 staff, installed a contract/risk assessment tech module, implemented a comprehensive 3rd party risk Handbook, trained a strong 2nd line of defense while implementing a robust, global 3rd party risk governance structure• Created and integrated Demand/Consumption Management as a global, viable and complementary service offering to Strategic Sourcing. Have led demand management teams who execute projects which optimize/reduce overall consumption in high cost areas such as consulting, travel, legal, temporary labor, recruiting etc. • Optimized the Drug Inventory of the largest PBM in the U.S through negotiations/process improvement with its wholesalers, GPO's and direct manufacture network/supply chain, reducing pharmaceutical product inventory/days on hand by 28% (16 to 12 DOH), from $1.1 billion to $790 million
Shannon Consulting Group, Llc
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Senior Supply Chain And Third Party Risk Management ExecutiveShannon Consulting Group, LlcNew York, Ny, Us
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Senior Supply Chain/Third Party Risk Management ExecutiveShannon Consulting Group, Llc 2024 - Present
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Head Of Strategic Sourcing & Contract ManagementFlagstar Bank Jun 2023 - Nov 2024Hicksville, Ny , UsResponsible for leading, hiring and standing up Flagstar's Strategic Sourcing & Contracting team; training of sourcing team members has delivered $30M+ annualized cost reduction in 2024. Team is implementing new CLM technology and supporting key elements of the Bank's 3rd party risk management program. -
Head Of Third-Party Risk ManagementSignature Bank (Acquired By Flagstar Bank) 2022 - 2023Responsible for the Bank’s TPRM Program; currently leading a major transformation of the Third-Party program across the Bank’s first and second lines of defense.• Completed new, comprehensive, regulator-centric TPRM Policy, and Procedures - Established comprehensive TPRM Control Objectives across all five (5) lifecycle phases• Developed new TPRM tools, to include Inherent Risk Questionnaire (IRQ), providing consistently accurate inherent risk ratings across the Bank’s entire engagement population - Designed entirely new, SIG-based, Control Survey instruments• Implementing a new TPRM system, ProcessUnity - Completed Design and Configuration Phases - Actively testing new system; prepared for go-live in Q2 2023
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Director, Third Party Risk ManagementMufg Union Bank, N.A. 2018 - 2022Responsible for effective review and challenge for the Bank’s Third Party Risk Management program, including Products and Services risks across all US Operations with a supplier spend base of $2Bn+ -
Svp, Chief Procurement Officer, Head Of 3Rd Party RiskScotiabank 2016 - 2018Toronto, Ontario, CaResponsible for leading, developing and standing up Scotiabank’s global procurement function in terms of strengthening the Bank’s worldwide strategic sourcing capabilities, installing a source-to-pay technology platform and implementing an enterprise wide 3rd party risk management program.• Hired and trained a world-class global procurement organization, while also achieving over $190 million in cost reductions across multiple geographies, in less than 2 years.• Created the Bank’s first global 3rd Party Risk Management program across 50 countries and 190,000 staff by hiring/training a global TPRM team, developing a comprehensive 3rd party risk framework & procedures manual, installing a contract risk assessment technology system, while implementing an effective and vigilant global 2nd line of defense and governance program.• Implemented Scotiabank’s first generation eProcurement system (Req/PO/Invoicing module, Sourcing module, contracts module etc.) -
Partner - Strategy, Supply Chain And Sourcing PracticeThree S Consulting 2010 - 2018San Francisco, Ca, UsResponsible for client service delivery in assisting clients achieve operational excellence in Strategy, Supply Chain Management, and Business Process Transformation. • For the world’s largest Hedge Fund with assets of $135Bn+, based in CT, supporting Real Estate/Facilities/Corp Services: - Led a major Integrated Facilities Management (IFM) transformation initiative across all Real Estate, Facilities Management and Corporate Services support functions to provide seamless, customer-centric high-touch experience for employees and clients:- Led a major firm-wide, culture centric, Hospitality Transformation/Outsourcing initiative, resulting in the selection of a single, premier culinary supplier/partner with world-class capabilities in kitchen/ commissary operations, while also reducing overall hospitality expenditures by over $9 million (22%) over three years- Led sourcing projects in construction management, architecture/engineering, and occupancy management outsourcing, developing preferred supplier programs with savings of ~9% to 16%• For a global Fortune 100 entertainment company, led a major, global Real Estate/Facilities Management process improvement/cost reduction project - recommendations/executed projects resulted in:- Redesigned Global Real Estate and Facilities Management Operations programs, savings of ~$22 million- Improved small project/minor construction delivery processes, with lower, more flexible labor costs- Redesigned Real Estate’s Capital Authorization Request processes, reducing approval cycle time by 30%• For the largest Public Housing organization in the U.S., the New York City Housing Authority (NYCHA), and The Partnership for New York City, currently serving as an advisory board member in advising and supporting selected NYCHA-wide equipment and supply chain challenges -
Svp, Chief Procurement OfficerExpress Scripts Inc. (Formerly Medco Health Solutions Inc.) 2011 - 2012Responsible for firm-wide sourcing and procurement operations for all Medco indirect spend as well as $25 billion in pharmaceutical drug purchasing and supply chain optimization.• Recruited and developed a world-class global procurement organization, while achieving over $71 million in annualized savings in indirect expenditures (IT, Pharma operations, logistics, out/off-shoring services etc.). • Optimized Medco’s wholesaler, GPO and direct manufacture network/supply chain by reducing pharmaceutical product inventory/days on hand by 28% (from $1.1 billion to below $790 million): - Reduced cost of capital by $29 million, reduced other supply chain drug purchase costs by over $23 million• Implemented key Ariba modules - Purchase-to-Pay (P2P), eContracts, eAuction, SRM in seven (7) months.
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Evp, Chief Procurement Officer & Hd Of Real EstateMf Global Holdings, Inc. 2008 - 2010Responsible for the Firm’s Global Procurement of non-personnel expenditures and management of one million square feet of Real Estate across 10 countries in North America, Europe and Asia.• Hired, developed and trained a world-class global procurement organization, achieving over $30 million in savings (IT, non-IT and services) or an 8% reduction in total non-personnel expenses over a one year period.• Spearheaded IT’s offshoring/outsourcing strategy & negotiations for outsourcing 52 trading & back-office support applications located in the US, Europe and Asia, reducing total steady-state expenses by ~ 37%.• Negotiated and completed two major/multi-party lease agreements achieving a 43% reduction in total rent/operating expenses for a new London HQ facility and a 39% reduction in a new facility in NYC.
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Svp/Chief Procurement Officer, Global Procurement & Demand ManagementLehman Brothers, Inc. 2004 - 2008Responsible for Global Procurement/Sourcing and Demand Management of Lehman’s ~$3B in non-personnel expenditures (NPE) for both IT and non-IT goods and services. • Achieved a total of $130 million in annual cost savings, and an additional $110 million in other NPE reductions (cost avoidance). • Developed and trained a world-class global procurement organization, successfully impacting all NPE lines to also include IT and Corporate Real Estate groups (first time in Lehman’s history).- Improved annual cost savings productivity from $20 million in 2004 to over $85 million in 2007• Created a new Demand Management function, leading firm-wide demand/consumption management projects in combination with the Global Sourcing efforts. Achieved $45 million in annual cost savings:- Developed new strategies, policies, processes and reporting tools to reduce consumption in Travel & Entertainment, Market Data, Recruiting, Corporate Events, Management Consultant Services etc.• Negotiated the Firm’s major IT outsourcing/offshoring arrangements with major providers such as TCS and Wipro, reducing total expenses by 19% and defining/upgrading existing service level agreements.• Led Lehman’s Finance Division’s Project Management Office (captive site), migrating the first 150 off shore finance resources (Procurement, Accounts Payable, Expense Management, Treasury, etc.) to Lehman India, managing all key phases of process selection/documentation, staff hiring, training through implementation.
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Principal ConsultantA.T. Kearney 2003 - 2004Chicago, Illinois, UsResponsible for business development and client service delivery of Procurement/Supply Chain strategy and implementation projects in A.T. Kearney’s East Region Operations Practice.• Led a major cost reduction project for a $13 Bn Canadian firm with over 100 operating units world-wide:- Achieved over $45 million in negotiated/realized savings over 3 years in 3rd party expenditures in the areas of: Travel Services, IT Hardware, IT Software, Telecommunications, and IT Professional Services -
DirectorPricewaterhousecoopers Llp - Pwc Consulting 1993 - 2002Center of Excellence (COE) Leader for PwC’s East Region Full Value Procurement (FVP) Group. Responsible for selling and successfully delivering procurement-related consulting work in strategic sourcing, process reengineering, data warehousing and organizational redesign and eProcurement implementations. • Led a large multi-phased procurement project for a Boston-based financial services client with over $6.0 trillion in assets under custody. - Achieved over $41 million annual cost savings on a 3rd party sourcing base of $200 million (21% annually, $123 million over 3 years) in the areas of: Travel Services, Market Data Services, IT Professional Services, Office Products, Mail/Courier, Wireless, Temporary Labor and Legal Services• Developed and grew the East Region’s Full Value Procurement group from 4 to 46 consultants.- Key clients included: NASD, Lehman Brothers, Goldman Sachs, Dow Jones & Company, Walt Disney Company, Carrier Corporation, Frito-Lay, Nabisco, Pfizer, Abbott Labs, Seagram Spirits & Wine - Achieved annual savings in excess of $155 million across key engagements for selected Fortune 500 clients
William Shannon Skills
William Shannon Education Details
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United States Military Academy At West PointEngineering
Frequently Asked Questions about William Shannon
What company does William Shannon work for?
William Shannon works for Shannon Consulting Group, Llc
What is William Shannon's role at the current company?
William Shannon's current role is Senior Supply Chain and Third Party Risk Management Executive.
What is William Shannon's email address?
William Shannon's email address is wi****@****man.com
What schools did William Shannon attend?
William Shannon attended United States Military Academy At West Point.
What skills is William Shannon known for?
William Shannon has skills like Strategic Sourcing, Procurement, Outsourcing, Vendor Management, Leadership, Supply Chain Management, Strategy, Change Management, Program Management, Management, Team Building, Process Improvement.
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