Michael Stoneman
Frisco
Summary
Dynamic sourcing and vendor management leader with 25+ years of experience transforming procurement strategy, strengthening third‑party risk governance, and leading global teams across Fortune 500 financial institutions. Proven record of negotiating technology contracts, developing enterprise operating models, and advancing AI‑enabled sourcing processes. Recognized for building high‑performing organizations, elevating supplier performance, and influencing senior executives through data‑driven insights and clear, concise communication.
Overview
24
24
years of professional experience
Work History
SVP, Senior Procurement Manager
Bank of America
Plano
10.2021 - Current
- Scope: Enterprise sourcing leadership for Core Technology Infrastructure, Global Information Systems, and Cybersecurity; contract portfolio > $32.9B.
- Lead global onshore/offshore teams managing enterprise sourcing for core technology domains, governing a contract portfolio exceeding $32.9B.
- Co‑sponsor enterprise procurement technology modernization, accelerating adoption of AI/Copilot to improve sourcing analytics and cycle‑time efficiency.
- Acted as enterprise process owner for the global technology leasing program, governing more than $400M in annual hardware spend and alignment with risk and regulatory standards.
- Spearheaded ESAT Site Coordinator network for Global Third-Party Program, enhancing employee engagement and fostering community impact across regions.
- Led divisional training program on contract terms, commercial negotiations, AI/Copilot, and contracting best practices to upskill organization and standardize execution.
SVP, Procurement Manager
Bank of America
Plano
05.2018 - 10.2021
- Scope: Strategic sourcing lead for Global Banking & Markets Technology; high‑volume negotiations and regulatory oversight.
- Led end‑to‑end sourcing initiatives for Global Banking & Markets Technology, delivering cost optimization, mitigating operational/regulatory risk, and strengthening supplier controls.
- Executed competitive events and complex negotiations across software, services, and infrastructure, achieving compliance with third-party policies while maximizing commercial value.
- Directed team capacity planning, KPI tracking, mentoring, and training, enhancing delivery predictability and reducing time-to-contract across a demanding portfolio.
- Served on the Procurement Advisory Council, shaping policy and technology changes to improve third‑party risk and sourcing effectiveness.
- ESAT council workstream lead (Enabling Leaders), advancing leadership development and division‑wide capability building.
Senior Procurement Specialist, Supplier Management
Fannie Mae
Dallas
08.2013 - 05.2018
- Led enterprise supplier performance management and executive business reviews to drive accountability and continuous improvement.
- Shaped Category Management strategies and cost‑savings initiatives with business leaders and Finance to align procurement goals with organizational objectives.
- Implemented SRM practices across multiple lines of business, establishing governance models and supplier improvement plans.
- Developed supplier scorecards, financial assessments, and risk evaluations to guide sourcing strategies and inform renewal decisions.
- Served as subject matter expert in procurement system implementation, overseeing workflow design, training, and change management efforts.
Procurement Analyst, Vendor Operations
Fannie Mae
Dallas
11.2011 - 08.2013
- Led major initiatives including Equator platform rollout and MLA renewal; streamlined onboarding and maintenance processes.
- Collaborated with procurement and sourcing teams on enterprise initiatives, providing data‑driven insights to support audit remediation.
- Developed analytics and reporting for supplier master data governance, enhancing operational transparency.
Business Operations Representative, Hazard Claims
Fannie Mae
Dallas
11.2005 - 11.2011
- Managed hazard claims recoveries and vendor oversight; conducted on-site audits and performance reviews to ensure compliance and enhance service delivery.
- Led loan audits and reimbursement initiatives, achieving improved servicer performance and compliance adherence.
- Contributed expert knowledge during Equator development and implementation; co-developed pre-foreclosure hazard claim processes to streamline operations.
Team Leader and Assistant Team Leader
Countrywide Home Loans
Plano
01.2002 - 01.2005
- Established KPIs, monitored performance, and generated executive reports to inform leadership decisions.
- Audited HUD claims for accuracy and policy adherence; developed training based on trends to drive continuous improvement.
- Prepared for HUD audits and delivered training programs, enhancing compliance across the team.
Education
B.B.A. - Management
Harding University
Searcy, ARSkills
- Strategic Sourcing
- Category Management
- Contract Negotiation
- Supplier Relationship Management (SRM)
- Third‑Party Risk Management
- Technology & Cybersecurity Sourcing
- Cost Optimization
- Performance Management
- Regulatory Compliance
- Process Re-engineering
- AI-Enabled Procurement
- Global Team Leadership
- Executive Stakeholder Engagement
Timeline
SVP, Senior Procurement Manager
Bank of America
10.2021 - Current
SVP, Procurement Manager
Bank of America
05.2018 - 10.2021
Senior Procurement Specialist, Supplier Management
Fannie Mae
08.2013 - 05.2018
Procurement Analyst, Vendor Operations
Fannie Mae
11.2011 - 08.2013
Business Operations Representative, Hazard Claims
Fannie Mae
11.2005 - 11.2011
Team Leader and Assistant Team Leader
Countrywide Home Loans
01.2002 - 01.2005
B.B.A. - Management
Harding University