Strategic Sourcing & Procurement (Top Financial Firm/Fund)

Coda Search│Staffing; Chicago (IL); On-site; USD 180,000 - 260,000; Full time

Job summary

Coda Search is seeking a VP of Strategic Sourcing & Procurement to lead IT procurement, vendor negotiations, and cost optimization across software and data providers. The role drives end-to-end sourcing processes and collaborates with Finance, Legal, HR, Compliance, Technology and Operations to align procurement with business goals.

The ideal candidate has a minimum of 8 years in procurement, strong leadership capabilities, and extensive experience negotiating complex IT contracts within

Qualifications

• Bachelor's degree required in a relevant field.
• Minimum 8 years in Procurement and strategic sourcing.
• Experience in financial services preferred.
• Strong leadership, negotiation and contract management skills.
• Proficient with ERP systems and Microsoft Office suite.

Responsibilities

• Lead end-to-end procurement for software and data providers.
• Negotiate large and complex IT agreements.
• Identify saving opportunities via data analysis.
• Collaborate with Finance, Legal, HR, Compliance, Technology and Operations teams.
• Develop KPIs and hire/train staff to meet goals.

Skills

Leadership & Strategy

Negotiations

Stakeholder Management

Data Analysis

Procurement Strategy

Vendor Management

Education

Bachelor's degree

Tools

ERP

Excel

Word

PowerPoint

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