Strategic IT Sourcing

About Northern Trust

As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions. Since 1889, we have aligned our efforts with our three guiding Principles That Endure:
Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide. With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

• Develops best-in-class procurement practices enterprise-wide, including: effective category sourcing and overall procurement strategies; processes and infrastructure to effectively manage procurement activities across all spending categories; sustainable purchasing methods; and, programs to ensure a diverse supplier base including minority, small, women and disadvantaged businesses .
• Develops, implements and communicates an overall strategy to meet both the Business Unit's and Corporation's strategic plan.
• Conducts performance management and career development processes, provides input for staffing and disciplinary actions and provides hands‑on training to staff
• Responsible for development of sourcing strategy and performing category analytics.
• Leads and manages RFx (e.g. Request for Proposal, Request for Information, Request for Quote) process, including project management, development of RFx, negotiations and award process.
• Responsible for contract review, drafting and creation of various agreements, including NDAs, Master Agreements, Statements of Work, etc. and leading all aspects of contract & price negotiations and ongoing contract administration.
• Responsible for maintenance of procurement 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 and supports regulatory and compliance requirements (e.g. OFAC, FCPA, Spend Analysis, Client Relationships).
• Manages reporting of Procurement performance metrics, and provides ongoing support for internal and external audit requests.
• Management of supplier fitness, including analyzing overall business and financial performance of potential and existing suppliers.
• Establish and maintain relationship with key partners, education on policy/guidelines and resolving related purchasing issues.
• Utilize and maintain ERP and Contract Management System (ECM, including loading of final agreements.
• Interacts with business and Partners to formulate and implement strategy and solutions to enhance existing services, create new services or improve processes. Identifies impact of changes and processes; facilitates acceptance of change through training and communication. Provides ongoing support for the solution. Knowledge :
• Excellent verbal and written communication skills are required along with ability to be highly flexible and adaptable to change
• Excellent understanding of procurement philosophies and strategies along with in-depth knowledge of supply chain management and procurement
• Leadership and organizational skills are required to develop objectives and goals
• Proficiency in MS Office Suites with advanced Excel skills. Experience with ERP systems/People Soft
• Deep understanding/knowledge of contract terms and conditions and legal impact of different terms
• Requires in-depth conceptual and practical knowledge in own job discipline and basic knowledge of related job disciplines
• Applies best practices and how own area integrates with others
• Explains difficult or sensitive information; works to build consensus Experience :
• Bachelor’s Degree in Business, Supply Chain Management or Finance is preferred.
• MBA or other advanced degree and a professional Procurement/ Supply Chain Management designation (e.g. CSCP, CPM)…