Director of Procurement

First Business Bank•Brookfield, WI

1d•Hybrid

About The Position

The Director of Procurement provides centralized oversight of the Company’s end-to-end procurement-to-payment process. This includes establishing sourcing and vendor strategies aligned with business needs, financial objectives and risk appetite. This is a senior level, individual contributor role with the primary responsibility of building a procure to pay process with an annual spend of approximately $30 million across approximately 300 vendors that can scale as the company grows. The individual will be expected to foster strong cross-functional collaboration with Finance, Legal, IT, Operations, and business leaders. The position reports to the Chief Risk Officer, with a functional or dotted-line relationship to the Chief Accounting Officer for financial controls, accounts payable integration, and budgeting.

Requirements

Bachelor’s degree in supply chain management, business administration, finance, accounting, risk management, or a related field.
7+ years of progressively responsible experience in procurement, strategic sourcing, supplier management, third-party risk management, procure-to-pay, finance operations, or a related discipline.
2+ years of leadership, program ownership, or cross-functional transformation experience.
Experience in financial services or related field required.
Demonstrated experience leading complex sourcing initiatives and commercial negotiations.
Ability to both 1) assess and understand the in depth processes, and 2) oversee assess the program management of the following areas: Strategic sourcing, category management, competitive bidding, commercial negotiation, and supplier-performance management.
Third-party risk-management principles and banking regulatory expectations.
Contract lifecycle management and ability to identify matters requiring Legal or specialist review.
P2P processes, Accounts Payable workflows, internal controls, delegated authority, and segregation of duties.
Financial and spend analysis, budgeting, and cost-benefit analysis.

Responsibilities

Develop and lead the company’s strategic sourcing program across key categories of spend through disciplined, transparent, competitive and risk informed processes.
Establish and document sourcing standards, including business-case requirements, competitive-bid expectations, exception protocols, and delegated approval authorities.
Oversee supplier proposals, bid processes, pricing and business term negotiations.
Identify and deliver measurable opportunities for cost savings, cost avoidance, demand management, supplier consolidation, contract optimization, and process efficiency.
Coordinate periodic vendor evaluations, risk review and issue resolutions in partnership with Compliance through the lifecycle of the contract.
Own and continuously improve the end-to-end P2P process, including requisitioning, vendor payment data maintenance, invoicing, approvals, payment workflows, and the integration of P2P systems.
Partner with finance to identify and eliminate bottlenecks, reduce manual work, and improve data quality across purchasing and Accounts Payable processes using key performance indicators.
Support Finance and business leaders in vendor-spend forecasting, budget preparation, and accrual identification.
Design and monitor controls over vendor creation and changes, purchasing authority, invoice approval, employee expense process, sponsorships process, and documentation standards.
Establish transparent, decision-useful reporting and performance analytics that enable management of enterprise spend, procurement value, supplier performance, process efficiency, control compliance, and material issues.
Develop recurring reporting appropriate to the Company’s governance structure and the significance of procurement, supplier, and P2P matters. Provide trend analysis and actionable recommendations to management.
Monitor timely completion of due diligence and periodic reviews; document and escalate overdue items, exceptions, residual risks, control deficiencies, contractual concerns, and significant supplier issues.
Establish operational metrics, technology strategy, and staffing models to support efficient, scalable P2P operations.
Demonstrate cost savings in procurement program through optimization of vendors, improved contract terms, and reduction of process waste.
Administer a risk-based procurement governance framework in partnership with vendor owners, Finance, Legal, Risk and Compliance, Information Security, Information Technology, Operations and business leaders.
Define roles and responsibilities for vendor owners, service owners, approvers, Accounts Payable, and oversight functions.
Design and maintain controls related to vendor management, purchasing, approvals, and payments.
Support regulatory examinations, internal and external audits, and remediation of findings relating to procurement, contracting, and procure-to-pay (“P2P”) processes.