IT Procurement (Financial Services)

Coda Search│Staffing; Chicago (IL); On-site; USD 180,000 - 270,000; Full time

Job summary

Coda Search│Staffing is seeking an experienced VP Procurement for a growing Financial Technology/Financial Firm to lead procurement and strategic sourcing.

The role focuses on optimizing IT sourcing, vendor relationships, negotiations, and KPI-driven procurement across software, data providers, and infrastructure, with emphasis on cost-saving initiatives and process improvements.

Qualifications

• Bachelor's degree required.
• 6+ years procurement experience, preferably in financial services.
• Strong leadership, contract management and negotiation skills.
• Excellent analytical and problem-solving abilities.
• Experience with ERP systems and advanced MS Office.

Responsibilities

• Lead procurement and strategic sourcing across IT spend.
• Negotiate and finalize large, complex software/data provider contracts.
• Develop savings opportunities through data analysis.
• Collaborate with Finance, Legal, HR, Compliance, Technology and Ops.
• Manage vendor relationships and KPI tracking.
• Set and monitor procurement KPIs and staff performance.
• Stay updated on industry best practices and regulations.
• Oversee procurement processes and ensure timely delivery.

Skills

Leadership / vision / strategy

Negotiation / contract management

Data analysis

Change management

Stakeholder engagement

Communication

Vendor management

Influencing

Process improvement

Cross-cultural teamwork

Education

Bachelor's degree

Tools

ERP

MS Office

Job description

Our client is a growing Financial Technology/Financial Firm, seeking to add an experienced VP Procurement professional to lead the Procurement and strategic sourcing function within the firm, managing vendor relationships and ensuring the organization manages efficient buying processes. The role focuses on optimizing sourcing and procurement processes, proactively identifying and resolving areas of weakness within the firm.

The role focuses on optimizing IT sourcing and procurement processes, networking, storage, and infrastructure, proactively identifying and resolving areas of weakness within the firm

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Responsibilities

• Support the implementation of quality standards and policies by collaborating across all operational teams and processes.
• Responsible for the preparation, analysis, negotiation and finalization of the end-to-end Procurement process for all software and data providers.
• Perform direct negotiations and manage large and complex agreements.
• Find and deliver saving opportunities via stakeholder engagement and data analysis.
• Identify, evaluate, and select vendors based on quality, cost, and delivery capabilities, specifically within the financial services sector.
• Collaborate with internal stakeholders, including Finance, Legal, HR, Compliance, Technology and Operations teams, to understand procurement needs and specifications.
• Maintain accurate records of procurement activities, contracts, and vendor KPI within the firm
• Accountable for purchasing financial performance initiate and lead cost reduction projects.
• Internal/External customer focus to address complex issues.
• Consult on complex issues; providing advice to People Leaders to support the resolution of escalated issues.
• Influence or convince stakeholders to achieve outcomes.
• Lead Purchasing team to achieve the goals of the function and align with the organization’s goals.
• Establish & maintain relationships with key functional managers and their teams to ensure understanding of their needs and to facilitate the appropriate level of challenge.
• Stay updated on industry best practices, regulatory requirements, and advancements in procurement technology.
• Overseeing work progress and ensuring timely completion of technical development activities.
• Develop and review KPIs, interview and hire staff and oversee staff training and complete performance evaluations.

Qualifications

• A minimum of a Bachelor's degree is required for this position.
• A minimum of 6 years’ experience in Procurement.
• Experience within the financial industry preferred.
• In Depth knowledge of bidding procedures and criteria.
• Strong leadership, vision and strategy setting, communication, influencing, collaboration, and talent development skills.
• Strong contract management and negotiations skills.
• Excellent analytical and problem-solving abilities.
• Strong Project and change management capabilities.
• Ability to continuously improve the organization.
• Excellent computer skills with Excel, Word, PowerPoint, and familiar with ERP.
• Experience in working with multi-cultural team.
• Data-driven decision maker with excellent program management and organizational skills.