Asst Dir Sourcing & Procurement

Company: National Black MBA Association
Location: Milwaukee
Posted on: November 11, 2024

Job Description:

At Northwestern Mutual, we are strong, innovative and growing. We invest in our people. We care and make a positive difference.Summary:A trusted advisor to the Wealth, Investments, and Finance senior leadership and other key stakeholders in developing and managing strategic business plans for critical/high risk and strategic vendor relationships. Provide guidance as to strategic sourcing, procurement services, and vendor management; negotiate multi-million dollar agreements with strategic and key vendors, typically with a 3-5 year duration; oversee enterprise and shared vendor management programs; drive organizational change to move enterprise to a centralized vendor management methodology; leverage strategic vendor relationships to drive improvement and innovation across multiple business units/functions; create and implement strategy for engaging vendors for corporate project portfolio initiatives within the Strategy Alignment and Execution process; apply best practices to ensure company meets regulatory and compliance standards.Primary Duties & Responsibilities:

• Partners with Wealth & Investments senior leadership and other key stakeholders across enterprise business functions to develop strategy, vendor goals and execution plans for their critical/high risk and strategic vendor relationships.
• Perform negotiations of: Master Services Agreements (MSA's), Enterprise Licensing Agreements, Data Subscription Agreements, Statements of Work, and NDA's in partnership with the Business, Legal, Risk, Compliance, and Tech teams.
• Develops and manages holistic enterprise vendor relationship management program with the support of business unit relationship owners.
• Provides coaching to executive relationship owners and their teams on how to leverage strategic vendor relationships to accomplish long term objectives comprised of an appropriate balance of innovation, efficiencies and financial management of company funds.
• Serve as the direct point of contact for business partners of the full strategic sourcing process (Intake to pay).
• Leads cross departmental project teams with accountability for managing scope, risk, business value, schedule and budgets for 3rd party relationships.
• Research best practices and proactively identifies emerging trends of Fintech and Financial Data and Research Providers with vendor relationship management framework that are applicable at NM.
• Applies best practices to ensure company meets regulatory and compliance standards. Assists in the creation, implementation, and monitoring of programs as a result of industry changes.
• Researches, analyzes and recommends significant process and workflow improvement efforts and implements initiatives that may result in extensive changes in workflow, adjustments in the organization or significant systems modifications including the addition of new work processes.
• Conduct RFIs / RFPs / competitive events for business stakeholders along with supplier rationalization exercises.
• Provide executive level reporting of 3rd party spend and risk management metrics.Qualifications:
  • Minimum of 8 years within a sourcing and procurement function in the financial services industry.
  • Experience leading negotiations of financial technology, data contracts and research contracts.
  • Demonstrated ability to develop influencing relationships with varying levels of management and individual contributors from various business units.
  • Understanding and experience of strategic sourcing processes, category management, and vendor risk management.
  • Ability to apply knowledge across complex business areas and manage in a cross functional environment.
  • Ability to establish and maintain cross-functional relationships, influence change with diplomacy, and lead the decision making processes among senior leadership.
  • Bachelor's Degree with an emphasis in Business, Finance, Information Technology, Legal or related field preferred or an equivalent combination of education and work experience. MBA preferred.
  • Demonstrated experience with financial analysis, supplier spend & savings reporting, and TCO modeling.
  • Excellent research, analytical, problem solving, planning and organization skills required as well as a high degree of personal initiative and motivation.
  • Experience with Sourcing and Procurement technology (Zip, Spend HQ, Coupa, etc.).Compensation Range:Pay Range - Start: $90,930.00Pay Range - End: $168,870.00Northwestern Mutual pays on a geographic-specific salary structure and placement in the salary range for this position will be determined by a number of factors including the skills, education, training, credentials and experience of the candidate; the scope, complexity as well as the cost of labor in the market; and other conditions of employment. At Northwestern Mutual, it is not typical for an individual to be hired at or near the top of the range for their role and compensation decisions are dependent on the facts and circumstances of each case. Please note that the salary range listed in the posting is the standard pay structure. Positions in certain locations (such as California) may provide an increase on the standard pay structure based on the location.Grow your career with a best-in-class company that puts our client's interests at the center of all we do. Get started now!We are an equal opportunity/affirmative action employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, gender identity or expression, sexual orientation, national origin, disability, age or status as a protected veteran, or any other characteristic protected by law.
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Keywords: National Black MBA Association, Lombard , Asst Dir Sourcing & Procurement, Other , Milwaukee, Illinois