Senior Manager, Procurement

Canadian Imperial Bank of Commerce • Chicago, IL

4d • $135,000 - $150,000 • Hybrid

About The Position

We’re building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what’s right for our clients. At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute. To learn more about CIBC, please visit CIBC.com As a member of the Procurement team, you’ll play a critical role in ensuring that our contractual agreements with suppliers support our business goals and protect our interests. As the Senior Manager, Procurement, you’ll oversee the entire contract lifecycle, manage contract negotiations, and ensure compliance with legal, regulatory, and company policies. You’ll provide leadership to a team of Procurement Leads, guiding them through complex contract issues and serving as the primary point of escalation. You’ll collaborate with internal teams and external partners to ensure that contracts are executed efficiently and with the best possible outcomes for CIBC. You’ll also track contract performance, manage renewals and amendments, and proactively identify risks and opportunities. At CIBC we enable the work environment most optimal for you to thrive in your role. Details on your work arrangement (proportion of on-site and remote work) will be discussed at the time of your interview.

Requirements

• You have a Bachelor’s degree and 5 to 7 years of experience in compliance or risk management, preferably within the financial services industry.
• You’re collaborative. You know that teamwork with both internal and external partners leads to the best outcomes.
• You have industry knowledge. You’re familiar with supplier relationships, vendor products and services, and third party risk management.
• You’re goal driven. You’re motivated by accomplishing your goals and delivering your best to make a difference.
• You’re a caring and accountable leader. You’re passionate about developing and coaching to bring out the best in people.
• You have experience providing coaching and hands-on support to meet team goals.
• Values matter to you. You bring your real self to work and you live our values—trust, teamwork, and accountability.

Responsibilities

• Contract execution and management – Oversee the entire contract lifecycle, including drafting, negotiation, and execution of vendor agreements, amendments, and terminations.
• Renewals and amendments – Manage contract renewals, extensions, and amendments, ensuring favorable terms and pricing for CIBC.
• Risk assessment and mitigation – Identify risks and liabilities in contracts, and provide expert guidance on negotiation positions and risk management strategies.
• Contract administration – Utilize contract management systems to maintain accurate records, track performance, and ensure compliance with obligations and deliverables.
• Collaboration and negotiation – Work closely with internal teams to understand requirements, resolve contract-related issues, and maintain strong relationships with external partners and vendors.
• Manage and mentor – Provide guidance and leadership to a team of Procurement Leads, holding team members accountable for performance and development.

Benefits

• At CIBC, we offer a competitive total rewards package.
• This role has an expected salary range of $135,000- $150,000 based on experience, qualifications, and location of the position (salary range varies based on the location which will be discussed at the time of the interview).
• The successful candidate may be eligible to participate in the relevant business unit’s incentive compensation plan, which also may include a discretionary bonus component.
• CIBC offers a full range of benefits and programs to meet our employee’s needs; including Medical, Dental, Vision, Health Savings Account, Life Insurance, Disability, and Other Insurance Plans, Paid Time Off (including Sick Leave, Parental Leave, and Vacation), Holidays, and 401(k), in addition to other special perks reserved for our team members.
• At CIBC, your goals are a priority. We start with your strengths and ambitions as an employee and strive to create opportunities to tap into your potential. We aspire to give you a career, rather than just a paycheck. We work to recognize you in meaningful, personalized ways including a competitive salary, incentive pay, banking benefits, a benefits program, a vacation offering, wellbeing support, and MomentMakers, our social, points-based recognition program.
• Our spaces and technological toolkit will make it simple to bring together great minds to create innovative solutions that make a difference for our clients. We cultivate a culture where you can express your ambition through initiatives like Purpose Day; a paid day off dedicated for you to use to invest in your growth and development.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior