Senior Consultant, Procurement Engagement, Procurement Operations

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.  

Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Major Duties :

The Senior Consultant, Procurement Engagement role is responsible for monitoring and triaging the initial stage of procurement engagement, ensuring accurate and compliant processing of business requests. This includes receiving, assessing, and routing procurement requests, focusing on streamlining processes and promoting compliance with company policies along with improving the end user engagement and experience.

• Works with Internal Stakeholders and External Stakeholders to ensure that policies and guidelines are adhered to, and provide actionable support and guidance to the Business.
• Evaluates procurement engagement requests to determine the appropriate buying and payment channel is being used to procure goods and services based on their type, urgency, and importance. This might involve triaging requests to ensure that strategic and high-priority items are handled promptly.  
• Monitors Compliance and Accuracy verifying that requests are compliant with Northern Trusts procurement related policies, guidelines, and other relevant Third Party Risk regulations.  
• Escalates any concerning trends to Senior Management. This may include (but not limited to) oversight and monitoring of emerging risks, weaknesses in controls and material change programs, deterioration in service / performance standards, and provide guidance on mitigating actions
• Assists in review of internal and external Procurement Engagement related events and issues, to ensure that the root cause is adequately identified and remediation actions are fit for purpose
• Drives continued process improvement and standardization, aiming to streamline intake and related procurement activities.
• Leads tracking and reporting on key metrics related to procurement requests, such as compliance rates and response times.
• Assists in the support of local regulatory and audit engagements pertaining to Procurement Engagement; this includes supporting remediation activities
• Exercises judgment based on the analysis of multiple sources of information
• May lead small to medium size projects with manageable risks and resource requirements
  Acts as a resource for colleagues with less experience

  

Knowledge :

• The ideal candidate will be highly knowledgeable of procurement processes, and various payment channels, vendor risk management standards,

• Strong analytical skills including the use of relevant Tools such as Power BI and be versatile in using Source to Pay (S2P) systems such as Coupa Source to Pay. 

• Strong analytical, sourcing, negotiation and communication skills.
• Technically adept with basic application software; proficient in MS Office Suites with advanced Excel skills.
• Experience with ERP system/ Peoplesoft is a plus.

• Demonstrated success in time management; superior project management skills, attention to detail; thorough and organized.
• Requires expanded conceptual knowledge in own job discipline
• Explains complex information to others in straightforward situations

Experience :

• Bachelor Degree in Business, Supply Chain Management or Finance and three or more years of experience in Sourcing or Procurement related field or an equivalent combination of education and work experience.

• 5-7 years of related experience in roles working in procurement operations related topics
• MBA or other advanced degree and a professional Procurement/ Supply Chain Management designation (e.g. CSCP, CPM) are a strong plus.
• Provides informal guidance to new team members

Salary Range:

$95,600 - $162,400 USD

Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

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