Procurement Manager/Vendor Management (Financial Services)

Coda Search│Staffing; Chicago (IL); On-site; USD 90,000 - 130,000; Full time

Job summary

Coda Search│Staffing client in Chicago seeks an experienced Procurement Manager to lead procurement and strategic sourcing in a financial technology firm. You will manage vendor relationships, optimize buying processes, and drive cost reduction initiatives.

This role requires a Bachelor's degree and at least 6 years in procurement, with familiarity in bidding, contract negotiations, ERP/Workday, and cross‑functional collaboration with Finance, Legal, Compliance, and Technology.

Qualifications

• Bachelor's degree required.
• At least 6 years of procurement experience.
• Experience in the financial industry preferred.
• Strong contract management and negotiation skills.
• Data-driven decision making and problem solving.

Responsibilities

• Support the implementation of quality standards and policies by collaborating across all operational teams and processes.
• Prepare, analyze, negotiate and finalize end-to-end procurement for all software and data providers.
• Perform direct negotiations and manage large and complex agreements.
• Identify savings opportunities via stakeholder engagement and data analysis.
• Select vendors based on quality, cost, and delivery capabilities in financial services.
• Collaborate with Finance, Legal, HR, Compliance, Technology and Operations to understand procurement needs and specs.
• Maintain accurate records of procurement activities, contracts, and vendor information in the ERP system.
• Lead cost-reduction initiatives and manage purchasing financial performance.
• Address complex issues with internal/external customers and escalate when needed.
• Advise People Leaders to resolve escalated issues and influence stakeholders.
• Lead purchasing team to meet function goals and align with organizational objectives.
• Establish relationships with key managers to understand needs and provide appropriate challenge.
• Stay updated on industry best practices, regulatory requirements, and procurement tech advances.
• Oversee progress of technical development activities and staff performance.

Skills

Procurement

Vendor Management

Strategic Sourcing

Negotiation

Data Analysis

ERP/Workday

Cross-functional Collaboration

Leadership

Education

Bachelor's degree

Tools

Workday

Excel

PowerPoint

Job description

Our client is a growing Financial Technology/Financial Firm, seeking to add an experienced Procurement Manager 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 sourcing and procurement processes, proactively identifying and resolving areas of weakness within the firm

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 information within the firm ERP
• 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/WORKDAY.
• Experience in working with multi-cultural team.
• Data-driven decision maker with excellent program management and organizational skills.