Strategic Sourcing & Procurement (Top Financial Firm/Fund)

Coda Search│Staffing; Chicago (IL); On-site; USD 180,000 - 320,000; Full time

Benefits offered by this job

Health benefits

Bonus potential

Job summary

Our client, a premier Financial Technology fund, seeks a VP of Strategic Sourcing & Procurement to lead the IT procurement function, optimize sourcing, and negotiate complex vendor contracts. You will manage vendor relationships and drive cost reductions while aligning with Finance, Legal, and Compliance.

The role requires strategic leadership, data-driven decision making, and a track record of optimizing procurement in financial services. This is a senior, high-impact position.

Qualifications

• Bachelor's degree required.
• At least 8 years of procurement experience.
• Experience in financial services preferred.
• In depth knowledge of bidding procedures and criteria.
• Strong leadership, strategy setting, communication and talent development.
• Strong contract management and negotiations skills.
• Excellent analytical and problem-solving abilities.
• Strong project and change management capabilities.
• Proficient with Excel, Word, PowerPoint and ERP systems.
• Experience working with multi-cultural teams.
• Data-driven decision maker with program management skills.

Responsibilities

• Lead end-to-end IT procurement process for software and data providers.
• Negotiate large and complex IT contracts.
• Identify saving opportunities via data analysis and stakeholder engagement.
• Manage vendor selection based on quality, cost, and delivery.
• Collaborate with Finance, Legal, HR, Compliance, Technology and Operations teams.
• Maintain records in the firm ERP and monitor procurement KPIs.
• Develop and review KPIs and oversee staff training and evaluations.
• Lead Purchasing team to meet department goals.

Skills

Leadership

Negotiation

Strategic thinking

Vendor management

Data analysis

Cross-functional collaboration

Contract management

Communication

Project management

Education

Bachelor's degree

Tools

ERP systems

Job description

Our client is a premier Financial Technology/multi-strategy, multi-manager 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 evaluations

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