Procurement Officer

Citadel • Exton, PA

260d

About The Position

The Procurement Officer will play a pivotal role in establishing and managing the credit union's procurement function. This individual will be responsible for sourcing, negotiating, contracting, vendor onboarding, and ongoing vendor relationship management. The successful candidate will conduct a thorough inventory of existing vendors, identify opportunities for consolidation, and drive cost savings initiatives, aiming to achieve a reduction in overall spend. This is a unique opportunity to build a best-in-class procurement process from the ground up and contribute significantly to the credit union's strategic goals.

Requirements

• Bachelor's degree in Business Administration, Supply Chain Management, or a related field.
• Minimum of 6-8 years of experience in procurement, preferably in the financial services industry.
• Proven track record of establishing and managing a procurement function.
• Strong negotiation, contract management, and vendor management skills.
• Excellent analytical and problem-solving abilities.
• Proficiency in procurement software and tools.
• Strong communication and interpersonal skills.
• Ability to work independently and as part of a team.
• Strong understanding of compliance and risk management principles.

Nice To Haves

• Certified Professional in Supply Management (CPSM) or similar certification preferred.
• Experience in achieving significant cost reduction goals.

Responsibilities

• Develop and implement comprehensive procurement policies, procedures, and best practices.
• Create and maintain a centralized procurement system and database.
• Design and implement a vendor management framework.
• Conduct a comprehensive inventory and analysis of existing vendors.
• Identify opportunities for vendor consolidation and optimization.
• Develop and maintain strong relationships with key vendors.
• Manage vendor performance and ensure compliance with contracts.
• Lead vendor onboarding and offboarding processes.
• Identify and evaluate potential suppliers based on quality, cost, and reliability.
• Develop and execute sourcing strategies to meet the credit union's needs.
• Negotiate favorable contract terms and pricing.
• Conduct competitive bidding and RFPs.
• Drive toward 100% of vendors engage in banking activity with Citadel Credit Union.
• Draft, review, and manage contracts and agreements.
• Ensure contracts are compliant with legal and regulatory requirements.
• Monitor contract performance and address any issues.
• Maintain accurate contract records.
• Identify and implement cost-saving initiatives.
• Achieve a reduction in overall procurement spend.
• Analyze spending patterns and identify areas for improvement.
• Develop and track key performance indicators (KPIs) related to procurement.
• Ensure all procurement activities comply with internal policies and regulatory requirements.
• Identify and mitigate procurement risks.
• Maintain accurate documentation and audit trails.
• Prepare regular reports on procurement activities and performance.
• Analyze procurement data to identify trends and opportunities.
• Present findings and recommendations to management.

What This Job Offers

• Job Type: Full-time
• Industry: Securities, Commodity Contracts, and Other Financial Investments and Related Activities
• Education Level: Bachelor's degree