Associate Specialist - Business Services Category Manager - Procurement

3M HEALTHCARE; Chicago (IL); On-site; USD 95,600 - 162,400; Full time

Job summary

Northern Trust in Chicago is seeking a senior procurement leader to develop and execute best-in-class sourcing strategies across HR, Marketing and Business Services. You will lead RFx, contract negotiations, supplier diversity initiatives, and ongoing supplier performance to align with the corporation's strategic plan while mentoring teams and educating stakeholders.

The role requires extensive experience in sourcing, procurement, and contract management, with strong Excel and data analysis

Qualifications

• Bachelor’s degree in Business, Supply Chain Management, Finance, or a related field is preferred.
• MBA or other advanced degree and a professional procurement or supply chain certification (e.g., CSCP, CPM) are strongly preferred.
• Six or more years of experience in sourcing, procurement, or a related field, or an equivalent combination of education and relevant work experience.

Responsibilities

• Develop and execute best‑in‑class procurement practices for HR, Marketing, and Business Services‑related vendors, including effective sourcing processes, category sourcing strategies, and sustainable purchasing methods.
• Ensure adherence to core procurement processes and infrastructure to effectively manage procurement activities across all spending categories.
• Lead and support programs that promote supplier diversity, including minority‑, small‑, women‑, and disadvantaged‑owned businesses.
• Develop, implement, and communicate an overall procurement strategy aligned with both Business Unit objectives and the Corporation’s strategic plan.
• Demonstrate a strong understanding of performance management and career development processes, and provide training on core procurement processes when required.
• Lead the development of sourcing strategies, including the collection and analysis of key data and insights to support category analytics, pricing evaluations, and negotiations.
• Lead and manage RFx processes (e.g., Requests for Proposal, Information, and Quotation), including project management, RFx development, supplier negotiations, evaluation, and award recommendations.
• Oversee contract review, drafting, and execution of agreements such as Non‑Disclosure Agreements (NDAs), Master Agreements, and Statements of Work (SOWs).
• Lead contract and pricing negotiations and manage ongoing contract administration.
• Ensure compliance with established procurement policies, processes, and procedures.
• Support and monitor supplier performance and contract compliance through supplier activity reporting, business and performance reviews, scorecards, supplier rationalization initiatives, and demand management opportunities.
• Support regulatory and compliance requirements, including OFAC, FCPA, spend analysis, and client relationship standards.
• Manage and report procurement performance metrics and provide ongoing support for both internal and external audit requests.
• Establish and maintain strong relationships with key business partners by educating stakeholders on procurement policies and guidelines and resolving purchasing issues as needed.
• Utilize and maintain strong working knowledge of procurement‑related ERP and contract management systems (e.g., Coupa, PeopleSoft).
• Partner with business stakeholders to develop and implement strategies and solutions that enhance existing services, introduce new services, or improve processes.
• Assess the impact of changes and facilitate adoption through effective training and communication. Provide ongoing post‑implementation support.

Skills

Vendor management

Category sourcing

Strategic sourcing

Negotiation

Data analysis

Excel

Communication

Stakeholder management

Contract terms understanding

Procurement policies

Education

Bachelor's degree in Business/Supply Chain/Finance

MBA or advanced degree + CSCP/CPM certification

Tools

Coupa

PeopleSoft

Job description

About Northern Trust: Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889. Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Major Duties and Responsibilities

• Develop and execute best‑in‑class procurement practices for HR, Marketing, and Business Services‑related vendors, including effective sourcing processes, category sourcing strategies, and sustainable purchasing methods.
• Ensure adherence to core procurement processes and infrastructure to effectively manage procurement activities across all spending categories.
• Lead and support programs that promote supplier diversity, including minority‑, small‑, women‑, and disadvantaged‑owned businesses.
• Develop, implement, and communicate an overall procurement strategy aligned with both Business Unit objectives and the Corporation’s strategic plan.
• Demonstrate a strong understanding of performance management and career development processes, and provide training on core procurement processes when required.
• Lead the development of sourcing strategies, including the collection and analysis of key data and insights to support category analytics, pricing evaluations, and negotiations.
• Lead and manage RFx processes (e.g., Requests for Proposal, Information, and Quotation), including project management, RFx development, supplier negotiations, evaluation, and award recommendations.
• Oversee contract review, drafting, and execution of agreements such as Non‑Disclosure Agreements (NDAs), Master Agreements, and Statements of Work (SOWs).
• Lead contract and pricing negotiations and manage ongoing contract administration.
• Ensure compliance with established procurement policies, processes, and procedures.
• Support and monitor supplier performance and contract compliance through supplier activity reporting, business and performance reviews, scorecards, supplier rationalization initiatives, and demand management opportunities.
• Support regulatory and compliance requirements, including OFAC, FCPA, spend analysis, and client relationship standards.
• Manage and report procurement performance metrics and provide ongoing support for both internal and external audit requests.
• Establish and maintain strong relationships with key business partners by educating stakeholders on procurement policies and guidelines and resolving purchasing issues as needed.
• Utilize and maintain strong working knowledge of procurement‑related ERP and contract management systems (e.g., Coupa, PeopleSoft).
• Partner with business stakeholders to develop and implement strategies and solutions that enhance existing services, introduce new services, or improve processes.
• Assess the impact of changes and facilitate adoption through effective training and communication. Provide ongoing post‑implementation support.

Knowledge and Skills

• Knowledge of HR, Marketing and other professional business services and third‑party vendors that support these categories of spend.
• Excellent verbal and written communication skills, with the ability to adapt effectively in a dynamic and changing environment.
• Demonstrated leadership and organisational skills, with the ability to establish objectives and drive results.
• Proficiency in Microsoft Office applications, with advanced skills in Microsoft Excel.
• Strong understanding of contract terms and conditions and their legal and business implications.
• In‑depth conceptual and practical knowledge within the procurement discipline, with foundational knowledge of related functional areas.
• Ability to apply best practices and understand how procurement integrates with other business functions.
• Proven ability to communicate complex or sensitive information and build consensus among diverse stakeholders.

Experience and Education

• Bachelor’s degree in Business, Supply Chain Management, Finance, or a related field is preferred.
• MBA or other advanced degree and a professional procurement or supply chain certification (e.g., CSCP, CPM) are strongly preferred.
• Six or more years of experience in sourcing, procurement, or a related field, or an equivalent combination of education and relevant work experience.
• Serves as a resource and mentor to colleagues with less experience.
• May lead projects with moderate risk and manageable resource requirements.

Salary Range

• $95,600 – 162,400 USD. Salary range is a good faith estimate of base pay.
• Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well‑being benefits.
• Northern Trust also provides a discretionary bonus program that may include an equity component.

Reasonable accommodation

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [e-mail].