Director, Sourcing & Strategic Initiatives

Ryan Specialty, LLC; Chicago (IL); On-site; USD 156,000 - 195,000; Full time

Benefits offered by this job

Bonus eligibility

Comprehensive benefits

Job summary

Ryan Specialty, LLC is seeking a Procurement Director in the United States to oversee and optimize procurement across goods and services. You will lead teams, align strategies with business objectives, and drive cost savings through strong supplier negotiations.

The role requires extensive procurement leadership experience, with a focus on strategic sourcing, budgeting, and performance improvement. A strong background in insurance-related procurement is desirable.

Qualifications

• Bachelor’s degree required; Master’s degree preferred in Business Administration, Finance or Supply Chain.
• 12-15 years of experience in Procurement or related field.
• 5+ years of experience in managing a team.

Responsibilities

• Provide leadership to a team of procurement professionals to develop procurement strategies.
• Engage with senior leaders to align procurement strategies with business objectives.
• Drive cost savings and supplier performance improvements.
• Lead major supplier contract and price negotiations.
• Collaborate with stakeholders on market trends to inform sourcing initiatives.
• Develop and maintain spend reports by category, vendor, and business unit.
• Recruit, hire, train, and retain procurement staff.
• Assist with acquisition due diligence and contract management.
• Oversee budgeting processes.

Skills

Procurement knowledge

Cost reduction

KPI tracking

Analytical

Vendor management

Negotiation

Effective communication

Business relationship management

Time management

Financial management

Education

Bachelor’s degree

Master’s degree preferred

Business Administration / Finance / Supply Chain

Tools

Procurement Tools

Spend Management Software

Microsoft Office

Job description

Position Summary

The Procurement Director will be responsible for overseeing and optimizing all aspects of procurement to delivery. This role will also ensure procurement strategies, processes, and program executions are fully integrated to support internal budget business plans and company objectives and will actively collaborate with stakeholders to ensure that our knowledge, relationships and investments are effectively and efficiently leveraged. The role leads teams focused on procurement of all goods and services.

Job Responsibilities

• Provide leadership, guidance and support to a team of procurement professionals to develop comprehensive procurement strategies.
• Actively engage with senior leaders and ensure alignment of Procurement strategies to meet and/or exceed business objectives.
• Drive accountability and deliver results on key financial metrics - cost savings.
• Strive towards achieving world class supplier performance by driving continuous improvement initiatives and active collaboration with strategic suppliers - Lead major Supplier Contract/ Price negotiations.
• Collaborate with Procurement team, engage with senior management team members to provide perspective on current market trends to inform client strategic decisions/sourcing initiatives in line with business goals and objectives.
• Develop and maintain detailed reports on spend by category, vendor, and business unit.
• Recruit, hire, evaluate, train, develop and retain productive and highly engaged Procurement Department team members.
• Assist with acquisition due diligence.
• Maintain files on all contracts and correspondence.
• Maintain and oversee the annual budgeting process.

Work Experience and Education

• Bachelor’s degree required, Master’s degree preferred; Business Administration, Finance, Supply Chain preferred. Any other related discipline or commensurate work experience considered.
• 12-15 years of experience in Procurement or related field.
• 5+ years of experience in managing a team.

Licenses & Certifications

• Chartered Institute of Procurement & Supply (CIPS), or Certified Purchasing Manager (CPM) is a plus.

Technical/Functional Skills

• Knowledge of Insurance Industry
• Microsoft Office
• Cost Reduction Techniques
• Procurement
• Contract Management
• Procurement Tools
• KPI Tracking
• Financial Management
• Spend Management Software
• Process Improvement
• Vendor Management
• Analytical

Behavioral Skills

• Business Relationship Management
• Effective Communication
• Time Management
• Negotiation
• Problem Solving

Ryan Specialty is an Equal Opportunity Employer. We are committed to building and sustaining a diverse workforce throughout the organization. Our vision is an inclusive and equitable workplace where all employees are valued for and evaluated on their performance and contributions. Differences in race, creed, color, religious beliefs, physical or mental capabilities, gender identity or expression, sexual orientation and many other characteristics bring together varied perspectives and add value to the service we provide our clients, trading partners, and communities. This policy extends to all aspects of our employment practices, including but not limited to, recruiting, hiring, discipline, firing, promoting, transferring, compensation, benefits, training, leaves of absence and other terms, conditions, and benefits of employment.

Benefits

• Ryan Specialty seeks to offer our employees a comprehensive and best-in-class benefits package that helps them—and their family members—achieve their physical, financial and emotional well-being goals.
• In addition to paid time off for company holidays, vacation, sick and personal days, Ryan offers paid parental leave, mental health services and more.

The target salary range for this position is $156,000.00 - $195,000.00 annually. The wage range for this role considers many factors, such as training, transferable skills, work experience, licensure and certification, business needs, and market demands. The pay range is subject to change and may be modified in the future. Full-time roles are eligible for bonuses and benefits.

We provide individuals with disabilities reasonable accommodations to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment in accordance with applicable law. Please contact us to request an accommodation at [e-mail].

The above is intended to describe this job's general requirements. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

A multi-time winner of Newsweek’s Most Loved Workplaces and Insurance Business’s Top Insurance Employers, Ryan Specialty is home to some of the brightest talent in the insurance industry.

Join our team and help provide innovative solutions for insurance brokers, agents and carriers.