Procurement Manager
FARMER MAC•Washington, DC
•$130,000 - $160,000•Hybrid
About The Position
The Procurement Manager will lead the firm’s enterprise procurement function within a highly regulated financial services environment. This role ensures disciplined purchasing practices, robust internal controls, and strong vendor governance while delivering cost efficiency and protecting the firm from financial leakage, regulatory risk, and reputational exposure.
Requirements
- Bachelor’s degree required, Finance, Business, Supply Chain, or related
- 7-10 years procurement or sourcing experience
- Financial services industry experience required
- Enterprise procurement leadership experience
- Experience working with regulators and auditors
- Proficiency with SAP Concur, Microsoft Office Suite (Word, Excel, and PowerPoint), and general ledger systems.
Nice To Haves
- MBA or advanced degree strongly preferred
- Driven and motivated leader with executive presence and stakeholder influence and experience in building high-performing teams and treasury functional capabilities.
- Strong integrity and risk mindset.
- Strong decision-making and negotiation skills.
- Proven cross-functional collaboration and ability to work with all levels of an organization and external partners while driving projects to timely and successful conclusions.
- Experience in managing budgets and tracking procurement KPIs (cost savings, cost avoidance, vendor performance metrics.
Responsibilities
- Develop and execute enterprise-wide procurement strategy aligned with regulatory expectations and cost management goals.
- Establish standardized sourcing, purchasing, and vendor management practices.
- Build scalable procurement frameworks supporting growth and governance.
- Partner with Treasury Operations and other stakeholders in building this new enterprise function and team.
- Lead complex vendor negotiations across strategic categories.
- Ensure contracts are benchmarked and aligned to market terms.
- Partner with Legal and Compliance on regulatory adherence.
- Ensure procurement processes comply with regulatory and internal control frameworks.
- Design policies for purchasing authority, onboarding, and segregation of duties.
- Support audits and regulatory examinations.
- Ensure payments are authorized, accurate, and compliant.
- Prevent duplicate or fraudulent payments.
- Implement analytics to detect payment leakage.
- Strengthen invoice validation and approval of workflows.
- Enforce T&E policies and compliance standards.
- Monitor expenses for business purposes and policy alignment.
- Implement audit and automation controls.
- Collaborate with TPRM to support vendor due diligence across financial, operational, and cybersecurity risk domains.
- Contribute to and help refine third-party risk management frameworks, standards, and practices.
- Monitor vendor performance against cost, service, and delivery expectations, and partner with TPRM to develop and implement remediation plans as needed.
- Support the remediation of findings from internal, external, and regulatory audits in coordination with TPRM and relevant stakeholders.
- Drive cost savings and cost avoidance initiatives.
- Analyze spending and identify sourcing opportunities.
- Optimize vendor consolidation and contracts.
- Monitors spend in accordance with budget and firm-level strategic priorities.
- Deliver executive reporting on spending, savings, and performance.
- Advise CFO on procurement risks and opportunities.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
