Procurement Specialist

Confidential; Chicago (IL); On-site; USD 100,000 - 120,000; Full time

Job summary

An established industry player is seeking a Procurement Specialist to optimize technology business strategies and enhance operational excellence. This role involves managing cost optimization projects, collaborating with various teams, and driving continuous improvement initiatives. The ideal candidate will leverage their procurement expertise to make a significant impact on both business and technical aspects. Join a dynamic environment where your skills will contribute to the firm's success in the financial services sector, and enjoy competitive compensation along with growth opportunities.

Qualifications

• 3-5 years of experience in procurement or finance; trading knowledge is a plus.
• Ability to identify operational inefficiencies in procurement and other areas.

Responsibilities

• Manage the purchasing process and partner with teams to understand requirements.
• Build relationships with suppliers and conduct vendor performance reviews.

Skills

Procurement expertise

Strong communication skills

Analytical skills

Organizational skills

Risk awareness

Multitasking

Persistence

Tools

JIRA

Job description

Leading proprietary trading firm is looking for a Procurement Specialist to help optimize the firm’s technology business strategy while enhancing operational excellence and driving continuous improvement efforts across the firm.

You will drive a wide variety of cost optimization projects, all while partnering with trading, accounting, development, and operations teams. If you are interested in utilizing and furthering your experience towards making a significant impact in both the business and technical sides of a proprietary trading firm while leveraging your procurement expertise, this role will provide that opportunity!

Responsibilities

1. Strategic Sourcing/Purchasing – Manage purchasing process workflow to ensure the right allocation methodology, while partnering with trading, development, and IT to understand upcoming requirements and business needs. Solicit best pricing and terms from vendors - including working with internal stakeholders to design scopes and understand potential costs/savings.
2. Asset Management – Monitor and ensure consistent inventory of assets while working with the service manager to build the right charge-back models with CFO/accounting team.
3. Process Development – Design and implement continuous updates to the procurement process in an effort to make the end-to-end process more efficient and mature. Find new opportunities to streamline and automate day-to-day processes.
4. Vendor Relationship Management – Build long-term relationships with key suppliers, including exchanges, market data providers, and 3rd party technology service providers. Conduct regular vendor performance reviews to identify areas to improve service and transparency with the highest spend vendors.
5. Contract and Pricing Review & Negotiation – Negotiate pricing on net-new contracts and renewals to ensure our firm continues to receive discounts competitive to the market.
6. Daily Procurement Operations – Oversee day-to-day purchasing - working with A/P, Legal, technical teams, and vendors to purchase routine hardware, software, and services in a standardized fashion. Track renewals of recurring spend to facilitate timely contract review and execution. Lead proactive communication with internal stakeholders with updates on expected timelines and progress of purchase requests.

Requirements

1. 3-5 years of experience in procurement, operations, or finance; trading/industry knowledge a plus
2. A high aptitude for understanding the technical components we buy/rely on to support our trading and corporate infrastructure, along with high curiosity of how those purchasing decisions tie back to firm profitability
3. Strong communication, organizational, and analytical skills
4. Persistence required to relentlessly question issues at hand until you have identified the root problem
5. The ability to multitask and drive multiple projects simultaneously while operating in a fast-paced environment
6. Strong risk awareness and the ability to identify imminent risks to the business
7. Ability to identify and resolve operational inefficiencies not only in the procurement process, but in other tangential areas.
8. Proficiency with JIRA a plus
9. Basic programming and database experience a plus

Annual compensation range: $100 - 120K base + discretionary bonus

Seniority level: Mid-Senior level

Employment type: Full-time

Job function: Finance, Purchasing, and Supply Chain

Industries: Financial Services, Capital Markets, and Venture Capital and Private Equity Principals