at Northern Trust Company in Chicago, Illinois, United States
Job Description
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.
This role will report into the Head of Business Services Procurement, with a dotted line to the Consulting Category Manager. This strategic role will be interacting with members of Northern's internal Executive Management team, our largest 3rd party consulting vendors, and numerous functional leaders within Northern Trust. Responsibilities include designing and monitoring our key Consulting Supplier Program (i.e. Big 4). This person will liaison with key stakeholders and our supply chain to support the organization's consulting portfolio of suppliers.
The right candidate will standup, own, and govern the vendor management function overseeing our most strategic consulting vendors.
Candidates should be well versed in vendor management, have experience presenting and advising to Executive Management teams, and have previously worked with 3rd party consulting vendors.
Major Duties:
- Optimize opportunities with our strategic consulting vendors, to increase buying power and reduce financial and non-financial risks
- Deliver a lower total cost of ownership
- Provide holistic vendor forecasting to enable strategic deal management
- Enhance stronger business and Procurement engagement to optimize outcomes
- Provide proactive monitoring of consulting statements of work, through scorecards and quarterly business reviews
- Create internal awareness of vendor sponsorships and donations that have potential commercial impacts on negotiations
- Strategic Relationship Management
- Build win-win partnership with select strategic consulting relationships - maintaining a constant dialogue with vendors that allows stakeholders to access any ongoing risk to make more informed purchasing decisions.
- Single point of contact for vendor escalation, include corrective actions
- Manage ongoing communication and feedback loop
- Facilitate regular performance management discussions with internal stakeholders
- Streamline financial approval process with finance stakeholders
- Education and Outreach
- Design and implement hub and spoke outreach model
- Setup training and education program for internal and external stakeholders
- Pipeline Planning
- Coordinate pipeline to enable strategic deal management
- Manage internal escalations and procurement policy non-compliance
- Monitoring & Performance Management
- Design and lead QBR sessions
- Design and implement vendor scorecards
- Design and implement vendor performance metrics and dashboards
- Facilitate regular performance management discussions with internal stakeholders and vendors to ensure issues are surfaced and mitigated real-time
- Balance of Trade
- Oversee reporting on vendor donations & sponsorships (request, commercial impacts)
- Monitor total revenue generated from Northern Trust for deal consideration
Knowledge/Skills:
- Confident communication, integrity, and authenticity to build strong, positive relationships...
Equal Opportunity Employer - minorities/females/veterans/individuals with disabilities/sexual orientation/gender identity
