Specialist, Sourcing Strategic Sourcing Category Manager - Business Applications

Northern Trust Corp; Chicago (IL); On-site; USD 109,000 - 185,000; Full time

Benefits offered by this job

401k

Pension

Health benefits

Paid time off

Parental leave

Life insurance

Bonus program

Job summary

Northern Trust in Chicago is seeking a senior procurement professional to lead sourcing strategies within the Business Applications category (Software & Banking platforms). You will manage RFx processes, negotiate terms, and ensure contract compliance across NDA, Master Agreements and Statements of Work.

The role focuses on supplier governance, due diligence, spend analysis, and reporting. You will collaborate with business partners, utilize Coupa ERP and Contract Management System, and drive

Qualifications

• Experience in sourcing for indirect categories (IT)
• Strong analytical, sourcing, negotiation and communication skills
• Proficient in MS Office with advanced Excel
• Experience with ERP systems/PeopleSoft
• Excellent time management and project management skills

Responsibilities

• Develop sourcing strategy and perform category analytics within Business Applications (Software Technology and Banking Platforms).
• Lead and manage RFx processes, including project management, RFx development, negotiations and award.
• Review contracts for technology agreements (NDA, Master Agreements, SOW) and lead price negotiations and ongoing administration.
• Ensure compliance with procurement processes and procedures.
• Support non-traditional 3rd party supplier relationships through TPMO due diligence and pricing support.
• Assist supplier activity reporting, BU supplier deal reviews, supplier rationalization and demand management.
• Manage regulatory and compliance requirements (e.g., OFAC, FCPA, Spend Analysis, Client Relationships).
• Report Procurement performance metrics and maintain relationships with key partners.
• Provide training and communication to stakeholders; leverage Coupa and Contract Management System.

Skills

Analytical skills

Sourcing

Negotiation

Communication

IT procurement

Excel (advanced)

MS Office

ERP/PeopleSoft

Education

Bachelor's degree in Business, Supply Chain Management or Finance

Tools

Coupa

Contract Management System

PeopleSoft

Job description

About Northern Trust

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.

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.

Responsibilities

• Responsible for development of sourcing strategy and performing category analytics within the Business Applications Category (Software Technology and Banking Platforms).
• Leads and manages RFx (e.g. Request for Proposal, Request for Information, Request for Quote) process, including project management, development of RFx, negotiations and award process.
• Responsible for contract review of various technology agreements, including NDA’s, Master Agreements, Statements of Work, etc. and leading all aspects of contract & price negotiations and ongoing contract administration.
• Responsible for compliance with procurement processes and procedures.
• Supports and manage Non-Traditional 3rd party supplier relationships through TPMO due diligence processes, may include expertise and advisor support for commercial pricing negotiations.
• Supports supplier activity reporting and internal BU supplier deal reviews, supplier rationalization and demand management opportunities.
• Manages and supports regulatory and compliance requirements (e.g. OFAC, FCPA, Spend Analysis, Client Relationships).
• Manages reporting of Procurement performance metrics.
• Establish and maintain relationship with key partners, education on policy/guidelines and resolving related purchasing issues.
• Utilize Coupa (ERP) and maintain Contract Management System, including loading of final agreements.
• 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.
• Serves as technical expert with in-depth knowledge in area of Technology Software and Banking/Treasury platforms and supply chain management with strong knowledge of other areas Knowledge :In depth knowledge of supply chain management and procurement.

Knowledge

• In depth knowledge of supply chain management and procurement.
• Demonstrated experience in sourcing for indirect categories (e.g. IT).
• Strong analytical, sourcing, negotiation and communication skills.
• Technically adept with basic application software; proficient in MS Office Suites with advanced Excel skills.
• Experience with ERP system/ Peoplesoft.
• Demonstrated success in time management; superior project management skills, attention to detail; thorough and organized.

Experience

• Bachelors Degree in Business, Supply Chain Management or Finance and six 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.

Salary Range

$108,965 - 185,155 USD Salary range is a good faith estimate of base pay.

Benefits

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.

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.