Consultant, Procurement Engagement, Procurement Operations

About the role

The 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.

Responsibilities

• Receiving and Evaluating Business Requests: receiving procurement requests from various internal stakeholders. These requests need to be reviewed for completeness, accuracy, and adherence to budget limits and company policies.
• Routing and Prioritization: Requests should be evaluated to determine the appropriate buying and payment channel is being used to procure goods and services. The analyst will be responsible for routing to the appropriate stakeholders for review and approval based on their type, urgency, and importance.
• Working with end users: The role requires collaboration with various internal teams and stakeholders to ensure a smooth and efficient process. This role will work collaboratively with our Sourcing, Category Management teams, Third Party Risk and Procurement Operations teams and our Business Unit stakeholders.
• Making sure requests are compliant with Northern Trust's procurement related policies, guidelines, and other relevant Third Party Risk regulations.
• Driving continued process improvement and standardization, aiming to streamline intake and related procurement activities.
• Continuing to improve buying channel alignment will be critical as we work to ensure requests are being routed to the approved channels. This role will be responsible for optimizing the most efficient channel for procuring goods and services.
• Data and Request Tracking and Reporting: The consultant will be responsible for tracking and reporting on key metrics related to procurement requests, such as compliance rates and response times. The role will involve proactive management of our Procurement Engagement process ensuring that requests are being addressed according to established Service Level Agreements (SLAs) for processing cycle times.
• Other responsibilities may include: staying updated with the latest industry trends and best practices in procurement and vendor risk management, providing training and support to internal stakeholders on procurement processes and systems, and explaining complex information to others in straightforward situations.

Requirements

• The ideal candidate will be highly knowledgeable of procurement processes, and various payment channels, vendor risk management standards, and be versatile in using Source to Pay (S2P) systems.
• Strong analytical, sourcing, negotiation and communication skills.
• Tech-savvy 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.
• Exhibits ability to explain complex information to others in straightforward situations.

Qualifications

• Education: 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.
• Advanced Degree: MBA or other advanced degree and a professional Procurement/ Supply Chain Management designation (e.g. CSCP, CPM) are a strong plus.

Skills

• Knowledgeable of procurement processes and various payment channels.
• Vendor risk management standards.
• Proficient in MS Office Suites with advanced Excel skills.
• Experience with ERP system/ Peoplesoft.
• Time management and project management skills.
• Attention to detail and thoroughness.
• Ability to explain complex information to others.

Benefits

Includes 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. Also provides a discretionary bonus program that may include an equity component.

Pay

Salary Range: $70,490 - 119,890 USD

Schedule

Not specified

Benefits

Includes 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. Also provides a discretionary bonus program that may include an equity component.

Company Information

Northern Trust is a global leader in innovative wealth management, asset servicing, asset management, and banking services. Founded in 1889, the company is known for its commitment to integrity and expertise. With over 24,000 partners and a focus on service, Northern Trust guides the world’s most successful individuals, families, corporations, and institutions. The company prides itself on its financial strength and stability, offering a comprehensive benefits package including retirement benefits, health and welfare benefits, 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.

Equal Opportunity Employer

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.