Head of Procurement

CME Group • Wacker, IL

2d • Hybrid

About The Position

We are seeking a visionary and results-driven Head of Procurement to lead our global procurement function. Reporting to the Executive Director, Accounting Research & Operations within the Finance Division, you will be responsible for overseeing all aspects of the organization's supplier relationship management and strategic sourcing. This role involves developing and implementing procurement strategies, managing supplier relationships, ensuring the efficient and ethical acquisition of both technology and services, and optimizing costs. You will be a hands-on builder and a strategic partner, ensuring our procurement practices align with our company's business objectives and financial goals.

Requirements

• Exceptional executive leadership, negotiation, and communication skills.
• Deep understanding of procurement best practices, strategic sourcing, and third-party risk management methodologies.
• Proven ability to manage complex projects and drive large-scale organizational change.
• Proficiency in procurement technologies and enterprise resource planning (ERP) systems.
• Strong analytical and problem-solving abilities to navigate complex challenges and opportunities.
• High level of integrity and a commitment to ethical conduct.

Nice To Haves

• Familiarity with Workday Strategic Sourcing, Archer, and Conga CLM is a plus.

Responsibilities

• Champion a forward-looking procurement strategy that aligns directly with the company's overarching business objectives and financial goals.
• Define and implement a vision for procurement that leverages innovative best practices, emerging technologies, and data-driven methodologies to enhance efficiency and effectiveness.
• Establish and govern key performance indicators (KPIs) to drive continuous improvement and ensure compliance with our organizational standards.
• Direct the full supplier lifecycle, from strategic sourcing and selection to negotiation, contract management, and performance evaluation, ensuring optimal value and risk mitigation.
• Cultivate and strengthen strategic relationships with key suppliers, fostering long-term, mutually beneficial partnerships.
• Lead high-stakes negotiations to secure advantageous terms, pricing, and service level agreements that drive significant cost savings and efficiencies.
• Integrate the procurement function seamlessly with key internal stakeholders, including finance, legal, and risk management, to ensure alignment and collective success.
• Act as the primary point of contact and subject matter expert for all procurement matters, providing strategic guidance and expertise across the organization.
• Communicate and present procurement strategies, initiatives, and results to executive leadership, articulating the function's value and impact on the business.

Benefits

• A supportive environment fostering career progression, continuous learning, and an inclusive culture.
• Broad exposure to CME's diverse products, asset classes, and cross-functional teams.
• A competitive salary and comprehensive benefits package.
• Our compensation program also includes an annual target bonus opportunity for all employees, as well as the opportunity to become an owner in the company through our broad-based equity program.
• Through our benefits program, we strive to offer flexibility, value and choice. From comprehensive health coverage, to a retirement package that includes both a 401(k) and an active pension plan, to highly competitive education reimbursement provisions, paid time off and a mental health benefit, CME Group offers a holistic benefits package for our team and their dependents.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive
• Education Level: No Education Listed
• Number of Employees: 1,001-5,000 employees