Strategic Sourcing/Vendor Management (Financial /Tech Start-up)

Coda Search│Staffing; Chicago (IL); On-site; USD 180,000 - 280,000; Full time

Job summary

Coda Search│Staffing represents a Financial Technology/Financial Data Firm seeking an experienced VP of Procurement to lead the procurement and strategic sourcing function. You will manage vendor relationships and optimize buying processes.

The role focuses on implementing quality standards, negotiating major agreements, delivering cost savings, and aligning with Finance, Legal, HR, Compliance, and Technology to meet business needs.

Qualifications

• Bachelor's degree required.
• Minimum 6 years in procurement.
• Experience in the financial services sector preferred.
• Strong negotiation and contract management skills.
• Analytical and problem-solving abilities.
• Ability to lead and develop a team.

Responsibilities

• Lead procurement and strategic sourcing for software and data providers.
• Negotiate and finalize end-to-end procurement agreements.
• Identify and deliver cost savings through analysis and stakeholder engagement.
• Manage vendor relationships and performance metrics.
• Collaborate with Finance, Legal, HR, Compliance, Technology and Operations.
• Develop KPIs, hire and train staff, and oversee evaluations.

Skills

Leadership

Procurement strategy

Vendor negotiations

Data analysis

ERP/WORKDAY

Stakeholder mgmt

Cost reduction

Education

Bachelor's degree

Tools

Excel

PowerPoint

Job description

Our client is a Financial Technology/Financial Data Firm, seeking to add an experienced VP of Procurement to lead the Procurement and strategic sourcing function within the firm, managing vendor relationships and ensuring the organization manages efficient buying processes. The role focuses on optimizing sourcing and procurement processes, proactively identifying and resolving areas of weakness within the firm.

The VP of Procurement will lead the Procurement and strategic sourcing function, managing vendor relationships and ensuring efficient buying processes within the firm.

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.
• 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 6 years’ experience in Procurement.
• Experience within the financial industry preferred.
• 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/WORKDAY.
• Experience in working with multi-cultural team.
• Data-driven decision maker with excellent program management and organizational skills.