Senior Procurement Manager

Busey Bank • Champaign, IL

2d

About The Position

The Senior Procurement Manager provides strategic leadership and execution across enterprise procurement activities, ensuring strong governance, commercial value creation, and effective risk management within a regulated financial services environment. This role partners closely with business leaders, including Legal, Risk, Compliance, IT, and Finance to drive disciplined sourcing, supplier management, and contract outcomes aligned to organizational objectives. The manager leads complex, high‑value sourcing initiatives, supports the creation and evolution of procurement policies and governance frameworks, and serves as a strategic advisor on vendor relationships, third‑party risk, and commercial contract structuring while delivering measurable value through cost optimization, supplier performance management, and operational efficiency.

Requirements

• Knowledge of: Strategic sourcing, supplier management, and commercial negotiations in a regulated environment
• Procurement governance, third‑party risk management, and internal control frameworks
• Complex contract structures and regulatory risk considerations
• Ability to: Lead and execute high impact, enterprise level sourcing initiatives
• Influence senior stakeholders through data driven analysis and sound commercial judgment
• Manage multiple complex initiatives while balancing competing priorities
• Communicate clearly and effectively across technical, legal, and business audiences
• Lead sourcing and contract negotiations, ensuring execution in advance of contract expiration or service start dates to avoid any lapse in coverage or work performed at risk.
• Bachelor’s degree in business, economics, supply chain or a related field
• 10-12 years of progressive procurement or strategic sourcing experience

Responsibilities

• Lead complex, high value sourcing initiatives across critical spend categories, including technology, professional services, audit, and consulting.
• Partner with vendor business relationship owners to manage new sourcing events, renewals, and strategic vendor negotiations.
• Develop and execute sourcing strategies that support cost savings, cost avoidance, and improved commercial outcomes.
• Drive long term value creation through supplier consolidation, demand management, and commercial innovation.
• Negotiate complex commercial and contractual arrangements, including provisions related to liability, data protection, intellectual property, regulatory audit rights, service‑level agreements (SLAs), and termination rights.
• Serve as an escalation point for sensitive negotiations, supplier disputes, and audit‑ or regulator‑driven inquiries.
• Partner closely with Legal and Risk teams to ensure contract structures meet regulatory, risk, and governance expectations.
• Assist in developing, implementing, and evolving procurement policies, standards, and governance frameworks aligned with regulatory expectations (e.g., SOX, third‑party risk management).
• Provide guidance and interpretation of procurement policies and procedures to internal stakeholders.
• Oversee vendor performance management for assigned suppliers or categories, including issue identification, escalation, and remediation for critical vendors.
• Establish and maintain strong, trusted relationships with strategic suppliers and internal stakeholders.
• Serve as a strategic advisor to leaders across the organization on procurement strategy, supplier engagement, and commercial risk considerations.
• Collaborate cross‑functionally to support informed decision‑making related to sourcing, contracting, and vendor management.
• Deliver clear, fact‑based insights and analysis to senior leaders to influence procurement outcomes and business decisions.
• Contribute to the continuous improvement of procurement processes, tools, and reporting.
• Support training and enablement efforts to improve procurement capabilities across the organization.
• Interact with internal clients and external suppliers while consistently delivering a high level of service and professionalism.
• Maintain confidentiality; adhere to company policies and procedures; comply with laws, regulations and industry best practices

Benefits

• 401(k) match
• profit sharing
• employee stock purchase plan
• paid time off
• medical
• dental
• vision
• company-paid life insurance
• long-term disability
• supplemental voluntary life insurance
• short-term disability
• wellness incentives
• employee assistance program
• pre-tax health savings accounts
• flexible spending accounts

What This Job Offers

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