Procurement Manager

Liberty Bank - CT; Middletown (CT); On-site; USD 110,000 - 150,000; Full time

Job summary

Liberty Bank is seeking a Procurement Manager to lead the development and oversight of procurement policy and standardized sourcing across the bank. You will drive RFPs, negotiations, and spend analytics to improve efficiency and cost effectiveness.

The role requires 7–10 years in procurement within financial services, strong leadership and stakeholder training skills, and familiarity with vendor management tools and risk/compliance controls. This is an on-site role in Middletown, CT.

Qualifications

• Bachelor’s degree in business, economics, finance, logistics, or related field.
• Master’s degree preferred in business or advanced procurement management.
• 7–10 years procurement experience in financial/banking services.
• Strong communication, leadership and training skills for stakeholders at all levels.
• Familiarity with vendor management tools and risk/compliance processes.

Responsibilities

• Develop and maintain the Bank’s Procurement Policy and procedures.
• Lead RFPs, supplier negotiations and cost-forecasting initiatives.
• Drive spend management, cost savings and gross margin improvements.
• Manage supplier relationships to ensure reliability, quality and service.
• Collaborate with Vendor Owners and provide regular performance reports.

Skills

Interpersonal skills

Leadership & communication

Financial acumen

Project management

Vendor management

Training stakeholders

Deadline-driven

Reliability & integrity

Analytics & reporting

MS Office suite

Education

Bachelor’s degree in business/economics/finance/logistics

Master’s degree preferred in procurement or related field

Tools

Vendor Management tools

MS Office (Word, Excel, PowerPoint, Outlook)

Job description

At Liberty, we strive to maximize our impact and exceed goals by investing in our teammates to deepen our relationships in the workplace and communities we serve. We take pride in promoting a socially responsible and sustainable future through initiatives and investment.

Summary Of The Job

Reporting to the Chief Financial Officer, the incumbent is responsible for the development, maintenance and oversight of a Procurement/Strategic Sourcing standard at Liberty Bank in support of obtaining goods and services in an efficient and economic manner; ensuring quality, cost effectiveness and unbiased, fair business practices.

Essential Functions

The Procurement Manager is responsible for leading the development and implementation of the Bank’s Procurement Policy and maintaining a robust methodology for standardized request for proposal processes, strategic sourcing, spend management and related performance reporting. The Procurement Manager will periodically compile reports to Management, Finance Committee of the Board of Directors, and other stakeholders for analysis and tracking purposes.

This position plans, organizes and controls the Bank’s day to day Procurement and Strategic Sourcing activities and collaborates with stakeholders in the overall administration of these directives for the Bank.

The Procurement Manager will also be expected to build effective relationships with all respective stakeholders as defined in the Procurement Responsibility, Accountability, Consult, Inform (RACI) Matrix (e.g., Vendor Risk Management, Finance, Corporate Admin., Information Technology, General Counsel and other Vendor Owners throughout the Bank as well as industry and regulatory authorities), and participate in various Committees, audits, and examinations.

• Develop & maintain the Bank’s Procurement Policy.
• Maintain sourcing procedures and present improvement strategies to Senior Management for approval.
• Drive purchasing decisions based on cost and scenario analysis, as well as market trends.
• Negotiate contracts with suppliers, including costs and terms of supply, service and quality.
• Conduct market research, as well as creating cost estimates and forecasts.
• Meet savings targets and budgets.
• Conduct competitive sourcing strategies and negotiates with suppliers to minimize costs of materials and improves gross margins.
• Collaborate with Vendor Owners to negotiate vendor contracts and perform Request for Proposals (RFP) and bids.
• Manage relationships with suppliers to ensure reliability, quality and responsiveness expectations are being met.
• Initiate and lead continuous improvement efforts to improve cost of goods, inventory control processes and systems, inventory levels and on-time availability of materials.
• Provide data analysis to drive spend category strategies and savings.
• Support bank-wide common spend sourcing initiatives and break through projects.
• Partner with Vendor Risk Management to ensure new vendors have had due diligence tasks completed before contracts are signed.
• Other duties as assigned.

Minimum Knowledge/Skills

• Bachelor’s degree in business, economics, finance, logistics, or in a related field.
• Master’s degree is preferred in business or specialization in advanced procurement management.
• 7-10 years procurement experience in financial/banking services.
• High degree of interpersonal skills and proven ability to develop and deliver effective training to stakeholders at all levels of the Bank.
• Proven ability to meet deadlines and facilitate solutions in a fast-paced environment.
• Proven ability to be self-sufficient with high integrity, reliability, and accountability.
• Superb leadership and communication skills with the ability to present and influence strategy at all levels in the organization.
• Strong financial acumen to develop pricing/negotiation strategies.
• High level of productivity, ability to take task to completion and meet deadlines under pressure coupled with a focus on quality.
• Familiarity with corporate risk and compliance programs, including risk assessments, testing and monitoring, training, policy/procedure development, and implementation of new products and business processes.
• Strong competency in Word and Excel, PowerPoint and Outlook.
• Knowledgeable in Vendor Management tools.
• Strong organizational, and project management skills.

Physical Requirements

• General Office Equipment
• Keyboard Dexterity
• Prolonged Sitting
• Ability and willingness to travel

Compliance

Acts affirmatively in all activities under his/her control in conformance with the Bank’s Aff…

The Bank shall provide equal employment opportunity to all qualified persons, and continue to recruit, hire, train and evaluate persons in all jobs without regard to race, color, religion, sex, national origin, or veteran status.

Liberty Bank is an Equal Opportunity employer. It is the policy of Liberty Bank to provide equal employment opportunities to all qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran or disabled status, or genetic information.