Associate Specialist, Business Services Category Manager - Procurement

Northern Trust • Chicago, IL

2d • Remote

About The Position

Northern Trust is a global leader in innovative wealth management, asset servicing, asset management, and banking services. They are seeking an Associate Specialist, Business Services Category Manager to develop and execute best-in-class procurement practices for Business Services-related vendors. This role involves leading sourcing processes, category strategies, and sustainable purchasing methods, ensuring adherence to core procurement processes and infrastructure. The position also focuses on promoting supplier diversity, developing and communicating procurement strategies aligned with business objectives, and managing RFx processes and contract negotiations. The role requires strong collaboration with business partners, utilization of procurement systems, and providing post-implementation support for new services or process improvements.

Requirements

• Knowledge professional business services sub-categories including but not limited to HR, Mortgage Services, Marketing, Outsourced Print and other professional business services and third-party vendors that support these categories of spend.
• Excellent verbal and written communication skills, with the ability to adapt effectively in a dynamic and changing environment.
• Demonstrated leadership and organizational skills, with the ability to establish objectives and drive results.
• Proficiency in Microsoft Office applications, with advanced skills in Microsoft Excel.
• Strong understanding of contract terms and conditions and their legal and business implications.
• In-depth conceptual and practical knowledge within the procurement discipline, with foundational knowledge of related functional areas.
• Ability to apply best practices and understand how procurement integrates with other business functions.
• Proven ability to communicate complex or sensitive information and build consensus among diverse stakeholders.
• Six or more years of experience in sourcing, procurement, or a related field, or an equivalent combination of education and relevant work experience.
• Serves as a resource and mentor to colleagues with less experience.
• May lead projects with moderate risk and manageable resource requirements.
• Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future.
• Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).

Nice To Haves

• Bachelor’s degree in Business, Supply Chain Management, Finance, or a related field is preferred.
• MBA or other advanced degree and a professional procurement or supply chain certification (e.g., CSCP, CPM) are strongly preferred.

Responsibilities

• Develop and execute best-in-class procurement practices for Business Services-related vendors, including effective sourcing processes, category sourcing strategies, and sustainable purchasing methods.
• Ensure adherence to core procurement processes and infrastructure to effectively manage procurement activities across all spending categories.
• Lead and support programs that promote supplier diversity, including minority-, small-, women-, and disadvantaged-owned businesses.
• Develop, implement, and communicate an overall procurement strategy aligned with both Business Unit objectives and the Corporation’s strategic plan.
• Demonstrate a strong understanding of performance management and career development processes, and provide training on core procurement processes when required.
• Lead the development of sourcing strategies, including the collection and analysis of key data and insights to support category analytics, pricing evaluations, and negotiations.
• Lead and manage RFx processes (e.g., Requests for Proposal, Information, and Quotation), including project management, RFx development, supplier negotiations, evaluation, and award recommendations.
• Oversee contract review, drafting, and execution of agreements such as Non-Disclosure Agreements (NDAs), Master Agreements, and Statements of Work (SOWs).
• Lead contract and pricing negotiations and manage ongoing contract administration.
• Ensure compliance with established procurement policies, processes, and procedures.
• Support and monitor supplier performance and contract compliance through supplier activity reporting, business and performance reviews, scorecards, supplier rationalization initiatives, and demand management opportunities.
• Support regulatory and compliance requirements, including OFAC, FCPA, spend analysis, and client relationship standards.
• Manage and report procurement performance metrics and provide ongoing support for both internal and external audit requests.
• Establish and maintain strong relationships with key business partners by educating stakeholders on procurement policies and guidelines and resolving purchasing issues as needed.
• Utilize and maintain strong working knowledge of procurement-related ERP and contract management systems (e.g., Coupa, PeopleSoft).
• Partner with business stakeholders to develop and implement strategies and solutions that enhance existing services, introduce new services, or improve processes.
• Assess the impact of changes and facilitate adoption through effective training and communication.
• Provide ongoing post-implementation support.

Benefits

• 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
• other voluntary and well-being benefits
• discretionary bonus program that may include an equity component

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level