Team Leader, Strategic Vendor Engagement & Analytics
About Northern Trust:
Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.
Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families and institutions by remaining true to our enduring principles of service, expertise and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.
The Strategic Vendor Engagement & Analytics team within Global Procurement collaborates with the overall Procurement team and the Business Units to provides insight and data analysis for decision making and spend control.
The Team Lead, Strategic Vendor Engagement & Analytics role will be responsible for leading the Vendor Engagement & Analytics team in our India location and project managing critical global vendor analytics and procurement projects. The Team Lead is also responsible for partnering with Global Procurement, the Business Units, and Finance to attain expense reductions through business unit sponsored initiatives, negotiated savings, post sourcing savings, financial analysis and continuous process improvements.
- Develops, implements and communicates an overall Vendor Engagement & Analytics strategy to meet both the Business Unit's and Corporation's strategic plan.
- Plan and coordinate ongoing vendor strategic relationship reviews
- Provide coaching, guidance and mentorship to direct reports and other team members
- Develops category sourcing strategies and overall supplier relationship(s); providing input to pricing discussions
- Partners with category managers, product managers, business partners, and technical staff to understand requirements and various levels of complexity.
- The Team Lead will monitor and review and assess contracts, sourcing plans, demand, usage, and forecasting to create financial models.
- Leads the collection and analysis of data, and may assist pricing discussions & negotiations.
- Review reports and analyze to determine impacts, issues, and opportunities. Provide KPIs and metrics.
- Responsible for creating and measuring value for the sourcing process and analytics.
- Plan and identifies improvements to existing processes to further gain operational efficiency and productivity.
- Lead meetings in conjunction with Global Procurement and Corporate & Shared Services Finance team to analyze and review supplier spend
- Plan and execute special projects and/or process improvement initiatives
- Develop, present, ad-hoc products
- Serve as the point of contact for specific supplier relationships, across multiple business units and service areas
- Creates suggestions for improvements of global policies, programs and processes
- Carries out activities with financial, vendor, and/or internal business impact
- Conducts performance management and career development processes, provides input for staffing and disciplinary actions and provides hands-on training to staff
- Responsible for maintenance of Contractual Analytics processes and procedures.
- Supports and monitors supplier adherence to contracts, manage suppliers via supplier activity reporting and business/performance reviews, support and conduct supplier scorecards, supplier rationalization and demand management opportunities.
- Manages reporting of Procurement performance metrics, and provides ongoing support for internal and external audit requests.
- Establish and maintain relationship with key partners, education on policy/guidelines and resolving related purchasing issues.
Knowledge/Skills & Qualifications Required
- Prior experience with Financial Analysis (planning, forecasting, projections). Strong analytical, numerical and reasoning skills
- Strong technical knowledge of business tools and applications (i. e. Business Intelligence, Financial tools, MS Office 365)
- Ability to lead global teams. Uses expertise to provide guidance to others as a project manager or consultant.
- Uses prescribed guidelines or policies in analyzing situations. Provides a moderate level of guidance and direction.
- Works on projects and develops project leadership skills
- Solves problems in straightforward situations
- Analyzes possible solutions using technical experience and judgment and precedents
- Impacts quality of own work and the work of others on the team
- Excellent oral and written communication skills are required
- Highly flexible and adaptable to change
- Strong understanding of process and process improvement
- Approachable and able to promote teamwork through creative solutions
- Requires expanded conceptual knowledge in own job discipline
- Understands key business drivers; uses this understanding to accomplish own work
- Explains complex information to others in straightforward situations
- Continues to build knowledge of the company, processes and clients.
- A College or University degree in Business, Accounting, Finance and seven to ten years relevant work experience. Knowledge of Sourcing or Procurement is a plus.
- Financial analysis and modeling experience required
- Ideal candidate should have a Finance almost forensic accounting type work experience that has analytics and metrics as key responsibilities.
- Professional certifications are a plus.
Working with Us:
As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.
We’d love to learn more about how your interests and experience could be a fit with one of the world’s most admired and sustainable companies! Build your career with us.
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com.
We hope you’re excited about the role and the opportunity to work with us.
We value an inclusive workplace and understand flexibility means different things to different people.
Talk to us about your flexible working requirements and together we can achieve greater.
For further information, and to apply, please visit our website via the “Apply” button below.