Specialist - Senior Category Manager - Consulting

001 The Northern Trust Company; Chicago (IL); On-site; USD 115,000 - 195,000; Full time

Benefits offered by this job

401k and pension

Health benefits

Paid time off

Discretionary bonus

Job summary

Northern Trust is seeking a senior procurement leader to drive enterprise-wide strategy, category management, and strategic sourcing across diverse spend categories. You will lead complex sourcing events, negotiate terms, and oversee contract lifecycles.

The role requires extensive experience in procurement, strong leadership, and a track record of improving supplier performance while aligning with corporate governance and compliance.

Qualifications

• Requires depth in strategy sourcing and category management best practices.
• Ability to interpret business challenges and recommend best practices to improve products or services.
• Experienced procurement consultant providing end-to-end category management and strategic sourcing on a global scale.

Responsibilities

• Develops best-in-class procurement and category management practices enterprise-wide.
• Leads and manages sourcing events and the RFx process, including negotiations and awards.
• Responsible for contract review, drafting, and negotiations across NDAs, Master Agreements, and SOWs.
• Supports supplier adherence to contracts and performs supplier performance reviews.
• Manages procurement reporting and supports internal/external audits.

Skills

Procurement strategy

Category management

Sourcing events

Contract negotiation

Supplier management

MS Excel

Education

Master’s degree in Business/Supply Chain/Finance

Fifteen+ years procurement experience

MBA or advanced procurement designation

Tools

ERP systems/PeopleSoft

MS Office Suite

Job description

About Northern Trust As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions. Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide. With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Major Duties

• Develops best-in-class procurement and category management practices enterprise-wide, including: effective sourcing and overall procurement strategies; processes and infrastructure to effectively manage procurement activities across all spending categories; sustainable purchasing methods, delegating tactical and administrative tasks as appropriate.
• Works with Category Managers to establish and communicate category strategy and provide updates on adherence to strategy
• Mentors Category Managers on the approach and resources to educate themselves in their industry and expand their knowledge base
• Develops, implements and communicates an overall strategy to meet both the Business Unit's and Corporation's strategic plan
• Establishes periodic strategic reviews with executive leadership to promote top down alignment and best practices with clients
• Leads and manages sourcing events (e.g. Request for Proposal, Request for Information, Request for Quote, Renewals, New Product negotiations) and the sourcing process, including project management, development of RFx, negotiations and award process.
• Responsible for contract review, drafting and creation of various agreements, including NDAs, Master Agreements, Statements of Work, etc. and leading all aspects of contract & price negotiations and ongoing contract administration.
• Responsible for adherence to procurement processes and procedures.
• Supports supplier adherence to contracts, manages suppliers via supplier activity reporting and business/performance reviews, supports supplier scorecards, supplier rationalization and demand management opportunities.
• Supports regulatory and compliance requirements (e.g. OFAC, FCPA, Spend Analysis, Client Relationships).
• Manages reporting of Procurement performance metrics, and provides ongoing support for internal and external audit requests
• Establishes and maintains relationships with key partners, education on policy/guidelines and resolving related purchasing issues.
• Utilizes Contract Management System for systematic organization and classification of contracts.
• Interacts with business and Partners to formulate and implement strategy and solutions to enhance existing services, create new services or improve processes. Identifies impact of changes and processes; facilitates acceptance of change through training and communication. Provides ongoing support for the solution.

Knowledge

• Requires specialized depth and/or breadth of expertise in Strategy Sourcing and Category Management best practices
• Interprets internal/external business challenges and recommends best practices to improve products, processes or services
• An experienced Procurement Consultant to provide end-to-end category management, strategic sourcing, and procurement of indirect procurement categories (consulting & professional services category experience is a plus) on a global scale under general supervision (but will work independently most of the time).
• Communicates difficult concepts and negotiates with others to adopt a different point of view
• Ability to act as a catalyst for change and improvement

Experience

• Master’s Degree in Business, Supply Chain Management or Finance is preferred.
• Fifteen or more years’ experience in Sourcing or Procurement related field or an equivalent combination of education and work experience.
• MBA or other advanced degree and a professional Procurement/ Supply Chain Management designation (e.g. CSCP, CPM) are a strong plus.
• Excellent verbal and written communication skills are required along with ability to be highly flexible, strategic, collaborative and adaptable to change
• Excellent understanding of procurement philosophies and strategies along with in-depth knowledge of supply chain management and procurement
• Leadership, mentorship and organizational skills are required to develop objectives and goals
• Proficiency in MS Office Suites with advanced Excel skills. Experience with ERP systems/PeopleSoft

Salary Range: $114,700 - 194,900 USD Salary range is a good faith estimate of base pay.

Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

Work Authorization

Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).

Working with Us

As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve. Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.

Reasonable Accommodation

Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [e-mail], or alternatively you can discuss your individual requirements with the recruiter you are working with.

Looking for greater?

You found it. A global financial leader with more than 22,000 employees in 23 locations worldwide, Northern Trust empowers our employees to achieve more than just business goals. Our focus on work-life balance, career mobility and unique opportunities are just a few of the reasons we’ve been named one of the world’s most admired companies.

Terms and Conditions

Candidate Privacy Notice California Applicant Privacy Notice Pay Transparency Nondiscrimination Provision (U.S) Transparency in Coverage Disclosure – North America Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If, because of a medical condition or disability, you need a reasonable accommodation for any part of the employment process, please email our HR Service Center or call 1-800-807-0302 (North America), [phone] (Asia Pacific), 1800-425-0333 (India), [phone] (Europe, Middle East and Africa) and let us know the nature of your request and your contact information.

APAC/INDIA EEO STATEMENT

It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

Canada EEO STATEMENT

Northern Trust is an Equal Opportunity Employer. Hiring and other employment decisions at Northern Trust are made without regard to race, colour, religion, sex, ancestry, national origin, ethnic origin, age, disability, citizenship, veteran status, sexual orientation, record of offences, marital status, family status, or any other characteristic protected by federal, provincial, or local law, regulation, or ordinance.

EMEA EEO STATEMENT

It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

USA EEO STATEMENT

It is the policy of The Northern Trust Company to afford equal opportunity in all phases of employment without regard to an individual’s age, race, color, religion, creed, gender, national origin, citizenship status, marital status, pregnancy, sexual orientation, gender identity, gender expression, genetic tests and information, physical or mental disability, protected veteran status or any other legally protected status. EEO Know Your Rights (U.S.)