Consultant, Procurement Engagement, Procurement Operations (Finance)

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 Consultant, Procurement Engagement role is responsible for monitoring and triaging the initial stage of procurement engagement, ensuring accurate and compliant processing of business requests. This includes receiving, assessing, and routing procurement requests, focusing on streamlining processes and promoting compliance with company policies along with improving the end user engagement and experience.

• Receiving and Evaluating Business Requests: receiving procurement requests from various internal stakeholders. These requests need to be reviewed for completeness, accuracy, and adherence to budget limits and company policies.
• Routing and Prioritization: Requests should be evaluated to determine the appropriate buying and payment channel is being used to procure goods and services. The analyst will be responsible for routing to the appropriate stakeholders for review and approval based on their type, urgency, and importance. This might involve triaging requests to ensure that strategic and high-priority items are handled promptly.
• Working with end users: The role requires collaboration with various internal teams and stakeholders to ensure a smooth and efficient process. This role will work collaboratively with our Sourcing, Category Management teams, Third Party Risk and Procurement Operations teams and our Business Unit stakeholders.
• Monitoring Compliance and Accuracy: verifying that requests are compliant with Northern Trusts procurement related policies, guidelines, and other relevant Third Party Risk regulations.
• Process Improvement: driving continued process improvement and standardization, aiming to streamline intake and related procurement activities. Continuing to improve buying channel alignment will be critical as we work to ensure requests are being routed to the approved channels. This role will be responsible for optimizing the most efficient channel for procuring goods and services.
• Data and Request Tracking and Reporting: The consultant will be responsible for tracking and reporting on key metrics related to procurement requests, such as compliance rates and response times. The role will involve proactive management of our Procurement Engagement process ensuring that requests are being addressed according to established Service Level Agreements (SLAs) for processing cycle times.
• Other responsibilities may include: Stay updated with the latest industry trends and best practices in procurement and vendor risk management. Provide training and support to internal stakeholders on procurement processes and systems

Knowledge :

• The ideal candidate will be highly knowledgeable of procurement processes, and various payment channels, vendor risk management standards, and be versatile in using Source to Pay (S2P) systems.

• Strong analytical, sourcing, negotiation and communication skills.
• Technically adept with basic application software; proficient in MS Office Suites with advanced Excel skills.
• Experience with ERP system/ Peoplesoft is a plus.

• Demonstrated success in time management; superior project management skills, attention to detail; thorough and organized.
• Requires expanded conceptual knowledge in own job discipline
• Explains complex information to others in straightforward situations

Experience :

• Bachelor Degree in Business, Supply Chain Management or Finance and three or more years of experience in Sourcing or Procurement related field or an equivalent combination of education and work experience.
• MBA or other advanced degree and a professional Procurement/ Supply Chain Management designation (e.g. CSCP, CPM) are a strong plus.
• Provides informal guidance to new team members

Salary Range:
$67,500 - 111,500 USD

Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

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 and apply today. #MadeForGreater

Reasonable accommodation

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.

Apply today and talk to us about your flexible working requirements and together we can achieve greater.