VP - Procurement/Vendor Management (Financial Services)

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

Job summary

Coda Search│Staffing is seeking an experienced VP Procurement to lead the procurement and strategic sourcing function within a growing Financial Technology/Financial Firm. The role focuses on optimizing sourcing, vendor management, and efficient buying processes while resolving weaknesses in procurement operations.

Responsibilities include negotiating large, complex software and data-provider agreements, collaborating with Finance, Legal, and Compliance, and driving cost-reduction initiatives

Qualifications

• Bachelor's degree required.
• Minimum 6 years of Procurement experience.
• Experience in financial services preferred.
• Strong contract management and negotiation skills.
• Excellent analytical and problem-solving abilities.
• Data-driven decision making with program management skills.
• Experience with ERP/Workday and procurement tech.

Responsibilities

• Support the implementation of quality standards and policies by collaborating across all operational teams.
• Prepare, analyze, negotiate and finalize end-to-end procurement 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 in financial services.
• Collaborate with Finance, Legal, HR, Compliance, Technology and Operations to understand procurement needs.
• Maintain accurate procurement records within the firm ERP.
• Accountable for cost reduction initiatives and purchasing performance.
• Consult on complex issues with People Leaders to resolve escalated matters.
• Lead Purchasing team to achieve function goals and align with organizational aims.
• Establish relationships with key managers to understand needs and provide challenge when needed.
• Stay updated on industry best practices, regulatory requirements, and procurement tech advancements.
• Overseeing progress and timely completion of technical development activities.
• Develop and review KPIs, interview and hire staff and complete performance evaluations.

Skills

Leadership

Negotiation

Data analysis

Change management

Procurement strategy

Vendor management

ERP systems

Cross-functional collaboration

Excel

Education

Bachelor's degree

Tools

Workday

ERP

Job description

Our client is a growing Financial Technology/Financial Firm, seeking to add an experienced VP Procurement professional 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 role focuses on optimizing sourcing and procurement processes, proactively identifying and resolving areas of weakness within the firm

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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 6 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/WORKDAY.
• Experience in working with multi-cultural team.
• Data-driven decision maker with excellent program management and organizational skills.