Senior Buyer, Procurement - Marketing Services

Chicago Mercantile Exchange•Chicago, IL

8d•Hybrid

About The Position

CME Group: Where Futures are Made CME Group is the world’s leading derivatives marketplace. But who we are goes deeper than that. Here, you can impact markets worldwide. Transform industries. And build a career by shaping tomorrow. We invest in your success and you own it – all while working alongside a team of leading experts who inspire you in ways big and small. Problem solvers, difference makers, trailblazers. Those are our people. And we’re looking for more. At CME Group, we embrace our employees' unique experiences and skills to ensure that everyone’s perspectives are acknowledged and valued. As an equal-opportunity employer, we consider all potential employees without regard to any protected characteristic. Important Notice: Recruitment fraud is on the rise, with scammers using misleading promises of job offers and interviews to solicit money and personal information from job seekers. CME Group adheres to established procedures designed to maintain trust, confidence and security throughout our recruitment process. Learn more here .

Requirements

Education: Bachelor’s degree in Supply Chain Management, Business, Finance, Marketing, or a related field.
Experience: Minimum of 3 years in strategic sourcing, procurement, or relevant commercial/operational roles.
Category Expertise: Proven experience in a procurement, buying, or sourcing role, specifically with a focus on marketing services (e.g., media buying, creative agencies, market research, digital services, MarTech).
Agency Compensation: Strong understanding of agency compensation models (fees, retainers, incentives).
Negotiation: Exceptional negotiation skills to secure favorable terms, pricing, and quality from vendors/agencies. Strong grasp of contract law and contract management.
Marketing Strategy: A solid grasp of how marketing campaigns work, allowing the buyer to align procurement decisions with the company's overall marketing and business objectives.
Technology Proficiency: Experience with procurement-specific software (e.g., SAP Ariba, Coupa), and ideally, marketing or media-buying platforms (e.g., Google Ads and DSPs).
Communication and Collaboration: Excellent verbal and written communication skills to articulate strategies, present reports, and clearly communicate needs to internal stakeholders and external vendors.
Stakeholder Management: The ability to build strong, collaborative relationships with both internal marketing teams (the client) and external suppliers/agencies.
Analytical and Critical Thinking: Strong ability to analyze complex data, solve problems, and make informed, data-driven decisions.
Attention to Detail: Meticulous accuracy when dealing with contracts, purchase orders, financial reports, and campaign specifications.

Responsibilities

Strategic Sourcing & Category Management Strategy Development: Experience developing and executing strategic sourcing plans to identify, evaluate, and select the best marketing partners.
Sourcing Execution: Lead the end-to-end procurement process, including market analysis, needs assessment, and the development of RFPs.
Co-op & Partnership Management: Assist with the development, negotiation, and management of co-operative marketing agreements to maximize shared promotional reach, align brand strategies, and ensure equitable resource allocation between partners.
Market Intelligence: Stay updated on marketing trends, agency landscape changes, and new technologies to drive innovation.
Contract Management & Financial Analysis Negotiation: Negotiate complex, high-value agency contracts focusing on intellectual property rights, indemnification, and performance guarantees.
Financial Modeling: Conduct detailed financial analysis of supplier proposals, agency rates, and production costs. Provide clear recommendations to leadership to ensure transparency in marketing spend and budgeting.
Cost Optimization: Drive significant cost savings and cost avoidance through competitive bidding, process efficiencies, and effective negotiation of agency compensation models (e.g., fixed fees, retainers, performance-based incentives).
Supplier Relationship & Performance Management Performance Tracking: Conduct supplier performance reviews based on established KPIs (quality, cost, compliance, innovation) and drive continuous improvement initiatives.
Dispute Resolution: Act as the primary point of contact for internal stakeholders regarding contract compliance and supplier disputes.
Stakeholder Collaboration & Compliance Business Partnering: Build strong, collaborative relationships with key stakeholders in Marketing, Legal, and Finance, influencing alignment across functions and geographies.
Risk Mitigation: Ensure all sourcing activities adhere to internal procurement policies, regulatory requirements, and due diligence procedures.
Payment Exception Management: Manage urgent, high-profile, and non-standard supplier payments (e.g., one-time event speakers, complex international wire transfers) by coordinating time-sensitive onboarding, payment processing, and necessary compliance documentation across multiple internal teams.

Benefits

CME Group is committed to offering a competitive total rewards package for our employees that recognizes their contributions to the business and reflects our long-term investment in their future.
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.

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