IT Procurement (Financial Services)

Coda Search│Staffing; Chicago (IL); On-site; USD 120,000 - 180,000; Full time

Job summary

Coda Search│Staffing represents a growing Financial Technology firm seeking an experienced VP Procurement to lead the procurement and strategic sourcing function within the organization from Chicago. This role focuses on optimizing IT sourcing, networking, storage, and infrastructure processes while driving efficiency and cost reductions across vendors.

The ideal candidate will drive cross-functional collaboration with Finance, Legal, Compliance, and IT teams, build strong supplier

Qualifications

• Bachelor's degree required
• 6+ years of Procurement experience
• Experience in financial services preferred
• Strong contract management and negotiation skills
• Analytical and problem-solving abilities
• Data-driven decision making and program management
• Experience with ERP and Microsoft Office tools
• Ability to lead a diverse, multi-cultural team

Responsibilities

• Support implementation of quality standards and policies across operations.
• Lead end-to-end procurement for software and data providers; negotiate and finalize agreements.
• Identify saving opportunities through data analysis and stakeholder engagement.
• Select vendors based on quality, cost, and delivery in financial services.
• Collaborate with Finance, Legal, HR, Compliance, Technology, and Operations to meet procurement needs.
• Maintain records of procurement activities, contracts, and KPIs.

Skills

Leadership

Negotiation

Data analysis

Project management

Change management

Communication

Stakeholder management

Team leadership

Education

Bachelor's degree

Tools

ERP systems

Excel

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.