Procurement Consultant

CIBC•Chicago, IL

9d•$90,000 - $110,000•Hybrid

About The Position

The Procurement team provides sourcing support to business partners in executing on their priorities across all aspects of the third-party lifecycle, including advising on sourcing approach, supporting supplier selection methodologies (Request for Proposal, for example), negotiating, and contracting. The team supports a variety of lines of businesses including Capital Markets, Commercial Banking, Enterprise Architecture, Infrastructure Operations, and Wealth Management. As a Procurement Consultant, you will manage the end-to-end procurement activities focusing on indirect spend categories to support the aforementioned lines of businesses. You will define issues and resolve in an innovative way when our internal clients present requests in a general or ambiguous manner. You will develop and provide a procurement approach and recommendations as part of advisory service to our internal clients based on their business requirements and contract analysis. You will develop, negotiate, execute, and implement low to moderate complexity procurement contracts, while ensuring that CIBC risks are mitigated. In addition, you will adhere to any applicable regulatory requirements and CIBC policies. Finally, you will develop contract content (commercial terms and descriptive content, for example) independently or in partnership with a legal resource, lead the contract negotiations, and secure authorizations for agreement execution.

Requirements

Demonstrate experience in procurement supplier processes, practices, tools and templates, and principles of formal sourcing processes.
Maximize efficiencies, processes, and systems to meet CIBC business goals.
Strong self-planning skills sufficient to plan your own assignments according to general work plans.
Ability to multi-task, plan, and meet timelines.
Strong written and oral communication skills.
Desire to develop strong influencing and negotiation skills.
Enthusiastic about people. Find meaning in relationships and build centers of influence. Build trust through respect and authenticity.
Put clients first. Engage with purpose and the required level of urgency to find the right solutions. Go the extra mile because it is the right thing to do.
Understand that success is in the details. Notice things that others may not notice. Critical thinking skills help to inform decision making.
Values matter. Bring your real self to work, and live our values – trust, teamwork, and accountability.
Legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit.

Nice To Haves

Experience drafting various types of supplier contracts is preferred.

Responsibilities

Responsible for managing all aspects of contractual agreements with assigned suppliers, ensuring compliance, minimizing risks, and maximizing opportunities
Focus on contract negotiation, drafting, and execution
Oversee the entire contract lifecycle, from inception to completion, ensuring compliance with legal, regulatory, and company policies
Review, draft, and negotiate various contracts, including vendor agreements, amendments, terminations, and other similar documents, ensuring contracts are inclusive of terms that are most beneficial to CIBC and at the most favorable price possible
Manage contract renewals, extensions, and amendments in a timely manner
Assess contract performance and propose modifications, as necessary, to meet evolving business needs
Revisit and negotiate favorable pricing during each renewal and amendment activity with suppliers
Identify potential risks and liabilities in contracts as they relate to CIBC policies
Provide to the lines of business on contractual terms, negotiation positions, and risk management strategies
Engage with key stakeholders throughout the organization with expertise related to specific contract clauses when suppliers challenge the preferred language proposed by CIBC
Utilize contract management systems and processes to maintain accurate contract records, and facilitate effective contract management
Track contract performance, obligations, and deliverables to ensure compliance and prompt action
Collaborate closely with internal teams to understand business requirements, negotiate terms, and resolve contract-related issues
Maintain strong relationships with external partners, clients, and vendors to foster effective communication and ensure mutual understanding

Benefits

Medical
Dental
Vision
Health Savings Account
Life Insurance
Disability
Other Insurance Plans
Paid Time Off (including Sick Leave, Parental Leave and Vacation)
Holidays
401(k)
Competitive salary
Incentive pay
Banking benefits
Benefits program
Vacation offering
Wellbeing support
MomentMakers, our social, points-based recognition program
Purpose Day; a paid day off dedicated for you to use to invest in your growth and development