Procurement Specialist

About Wealth Enhancement

Wealth Enhancement is an independent wealth management firm with an endless passion for enriching the lives of our clients. We continually seek to perfect our craft of personalized financial planning with our team-based Roundtable and UniFi processes that go far beyond the standard approach. We proudly provide unique financial plans and investment management services to over 80,000 households from our over 140 offices - and growing - nationwide.

Since 1997, Wealth Enhancement has tirelessly raised the standard of wealth management with specialized knowledge and more attentive service that helps every client craft their future. For more information, please visit www.wealthenhancement.com.

Due to our aggressive growth trajectory, we are looking for a Procurement Specialist to execute category strategies throughout all phases of the vendor lifecycle in collaboration with the business. The scope of the role will span across several indirect procurement categories, but with a particular focus on the Professional Services vertical (BPO, Consulting, Contingent Workforce, Compliance, Legal, Finance and Human Resources).

This role is a remote opportunity.

In the spirit of pay transparency, we are excited to share the base salary range for this position is $90,000.00 to $105,000.00, exclusive of bonuses and benefits. We encourage you to apply and provide us with your compensation expectations when you do. We’re big on open conversations, so, let’s have one.

Job Functions

Category Management

• Maintains in-depth understanding of the Professional Services categories they lead, including supplier portfolio, capabilities, risk profiles, market trends, and areas of opportunity

• Applies critical thinking and a strategic mindset to identify savings/efficiency opportunities through market research and benchmarking analysis

• Routinely engages in detailed analysis to quantify realized savings

• Reports on metrics and KPIs to illustrate the value added by procurement in terms of savings, risk mitigation, and improved business outcomes
   

Strategic Planning

• Meets routinely with business unit stakeholders to understand strategic objectives and near/long term plans

• Supports execution of a forward-looking category roadmap of existing contracts and planned initiatives

• Collaborates with business units to incorporate procurement initiatives into financial and operational plans

• Ensures ongoing review and optimization of category plan as a key enabler to WE’s business success
   

Leading Negotiations & Sourcing Events

• Spearheads vendor interactions – including negotiations, RFx, and supplier reviews

• Maintains internal alignment on initiative objectives, action items, and timelines

• Supports strategic recommendations on market opportunities, negotiation tactics, and points of leverage in order to deliver results

• Executes tasks, creates deliverables, and applies administrative support in Jira to ensure initiatives are delivered timely, completely, and in alignment with WE processes
   

Contract Review

• Reviews proposed terms and conditions pursuant to vendor engagements

• Utilizes subject matter expertise to recommend contract language improvements to both business and legal terms in alignment with desired positions and outcomes

• Develops contractual strategies that deliver on business needs with minimal risk

• Leverages Ironclad contract management system for contract storage and research
   

Cross-Functional Collaboration & Leadership

• Serves as an owner of initiatives, driving project team activities through completion

• Acts as the single point of contact for business owner, facilitating interaction with other internal/external stakeholders to deliver desired business outcomes

• Extensive collaboration with Legal, IT-Security, Finance, and other control groups to mitigate risk in vendor engagements

• Development and implementation of processes to enhance the efficiency and effectiveness of how WE interacts with vendors

Education/Skill Requirements

• Bachelor's Degree in business or related field required

• 3+ years of experience supporting strategic sourcing projects, ideally in Services categories

• Experience supporting or leading indirect categories strategy

• Capable of interfacing with executive level stakeholders, both inte