Strategic Sourcing & Procurement (Top Financial Firm/Fund)

Coda Search│Staffing; Chicago (IL); On-site; USD 140,000 - 210,000; Full time

Job summary

Coda Search│Staffing represents a premier Financial Technology/Quant Fund seeking an experienced VP Strategic Sourcing & Procurement to lead the IT procurement function, optimize vendor contracts, and drive cost efficiencies across the organization.

The role requires strong leadership, advanced negotiations, and the ability to partner with Finance, Legal, Compliance, and Technology teams to deliver strategic sourcing initiatives and robust governance across the IT stack.

Qualifications

• Bachelor's degree required.
• 8+ years in procurement.
• Experience in financial services preferred.
• Strong contract management and negotiation skills.
• Excellent analytical and problem-solving abilities.

Responsibilities

• Lead end-to-end procurement for software and data providers.
• Perform negotiations and manage large, complex IT agreements.
• Identify savings opportunities through data analysis.
• Collaborate with Finance, Legal, HR, Compliance, Technology and Operations.
• Maintain accurate procurement records in ERP.
• Develop KPIs and build/mentor a high-performing team.

Skills

Strategic sourcing leadership

Vendor negotiations

Data-driven decision making

Stakeholder collaboration

Contract management

Team leadership

Procurement strategy

Analytical skills

Education

Bachelor's degree

Tools

ERP systems

Microsoft Excel

Microsoft Word

PowerPoint

Job description

Our client is a premier Financial Technology/Quant Fund, seeking to add an experienced VP Strategic Sourcing & Procurement professional to lead the Procurement and strategic sourcing function within IT vertical for firm, managing vendor relationships and ensuring the organization manages efficient buying processes. The role focuses on optimizing IT sourcing and procurement processes, proactively identifying and resolving areas of weakness within the firm. Select individual should be well versed in navigating and (re) negotiating all facets of highly complex IT vendor contracts.

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 evalations

Qualifications

• A minimum of a Bachelor's degree is required for this position
• A minimum of 8 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
• Experience in working with multi-cultural team
• Data-driven decision maker with excellent program management and organizational skills