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.
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.
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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.
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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.
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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:
$70,490 - 119,890 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.
Work Authorization
Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).
Working with Us
As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve.
Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.
Reasonable Accommodation
Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [email protected], or alternatively you can discuss your individual requirements with the recruiter you are working with.
