Executive Director, Strategic Sourcing
What You'll Do:
The Executive Director of Strategic Sourcing leads OCC’s Procurement and Vendor Management teams and is responsible for the implementation of strategies in support of OCC’s business needs. The Executive Director works with senior management and business leaders as a strategic partner to build partnerships with key vendors, drive down cost while enhancing the stakeholder experience, increasing productivity, delivering high quality services to internal customers and effectively managing the category portfolio. The ED is responsible for managing internal customer relationships as well as managing a high performing team of professionals. Responsibilities also include the development of the strategic category roadmap aligning to the business needs and subsequent delivery of sourcing activities.
Primary Duties and Responsibilities:
To perform this job successfully, an individual must be able to perform each primary duty satisfactorily.
Mature strategic planning capabilities and strategic sourcing programs
Develop annual sourcing plans with department heads
Partner with senior level IT leaders including the CIO to develop long term strategies related to hardware, software and consulting needs. From these needs identify annual spend estimates for CapEx and OpEx, which are revised quarterly.
Oversee / lead the negotiation of strategic agreements, particularly IT, to achieve stated goals and objectives. For IT agreements, ensure best-in-class contract terms associated with IT categories (cloud, enterprise applications, cyber security).
Identify, develop and implement process, procedure, and policy improvements
Working with Legal, implement and manage a contract review process ensuring consistent terms across all agreements resulting in improved cycle time while reducing reliance on Legal resources
Implement and oversee the management of the preferred contingent labor program, including driving efficiencies to ensure best resources while driving cost savings. Ensure appropriate cost levers for automation, nearshore, and offshore.
Develop and oversee the Vendor Management group
Work with Third Party Risk Management to coordinate the vendor risk reviews to manage risk and reduce cycle time
Develop, track and report on key metrics for vendor performance. Identify capabilities required to utilize key metrics and use for contract renegotiations.
Identify YOY OpEx reduction targets through contract / service right-sizing and ensuring vendors meet continuous improvement targets.
Identify key target SLAs for SI and project-related work. Ensure vendors meet SLAs.
Support the third-party risk management program
Collaborate effectively and promote positive working relationships with all internal organization levels, functions and vendors to realize goals and objectives
Oversee remediation efforts related to findings and observations in areas of responsibility. Ensure remediation addresses root cause, improves OCC’s residual risk and is completed in a timely manner.
Provide monthly updates to CFO and periodic updates to senior management
Mentor, coach and oversee professional development of the staff.
Manage a team
The requirements listed are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the primary functions.
[Required] Demonstrated success transforming and leading high performance strategic sourcing teams to deliver quantifiable, bottom-line results in close partnership with stakeholders
[Required] High level of interpersonal, communication and financial analysis skills
[Required] Strong organizational and project management skills
[Required] Strong verbal and written communications skills
[Required] Strong problem solving and conceptual thinking abilities
[Required] Strong relationship-management skills and ability to communicate effectively, and collaborate with senior management with ability to tell compelling stories through insights and data
[Required] Process driven with strong analytical acumen
[Required] Strong negotiation expertise with an understanding of key contracting concepts and legal terms
[Required] Ability to translate business requirements into applicable agreements
[Required] Ability to lead cross-functional teams and reach consensus
[Required] Proficient with Microsoft Office
[Required] ERP system experience
Education and/or Experience:
[Required] Undergraduate degree in Business Administration, Finance, Management, Supply Chain Management or related discipline or equivalent
[Preferred] MBA or other advanced degree
[Required] 15+ years of experience in strategic sourcing (or related) with exposure and responsibility for various functional areas (vendor risk management, contracting, negotiation, purchasing, bid management, asset management)
[Preferred] 5+ years of experience in IT capacity outside of sourcing.
[Required] Information technology procurement experience (minimum 5 years)
[Required] 5+ years of experience managing a team of sourcing professionals
[Required] Demonstrated experience leading contract management and contingent labor functions
Certificates or Licenses:
[Preferred] CPM or CPSM
[Preferred] Executive Education Certification re: Contract Negotiations
[Preferred] Certified Product Manager
[Preferred] Certified Project Manager
Who We Are
The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization. Founded in 1973, OCC is dedicated to promoting stability and market integrity by delivering clearing and settlement services for options, futures and securities lending transactions. As a Systemically Important Financial Market Utility (SIFMU), OCC operates under the jurisdiction of the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and the Board of Governors of the Federal Reserve System. OCC has more than 100 clearing members and provides central counterparty (CCP) clearing and settlement services to 19 exchanges and trading platforms. More information about OCC is available at www.theocc.com.
What We Offer
A highly collaborative and supportive environment developed to encourage work-life balance and employee wellness. Some of these components include:
A hybrid work environment, up to 2 days per week of remote work
Tuition Reimbursement to support your continued education
Student Loan Repayment Assistance
Technology Stipend allowing you to use the device of your choice to connect to our network while working remotely
Generous PTO and Parental leave
Competitive health benefits including medical, dental and vision
When you find a position you're interested in, click the 'Apply' button. Please complete the application and attach your resume.
You will receive an email notification to confirm that we've received your application.
If you are called in for an interview, a representative from OCC will contact you to set up a date, time, and location.
OCC is an Equal Opportunity Employer
- Chicago - 125 S Franklin
- Full Time Regular
- Posted: Jan. 18, 2024
How to Apply
Step 1 - When you find a position you're interested in, click the 'Apply' button. Please complete the application and attach your resume.
Step 2 - You will receive an email notification to confirm that we've received your application.
Step 3 - If you are called in for an interview, a representative from OCC will contact you to set up a date, time, and location.
OCC is an Equal Opportunity Employer
Numerous studies have shown that people from groups that are traditionally under-represented in financial services apply to jobs only if they believe they meet 100% of the requirements. We want to break down this mindset to further diversify our workforce.
We encourage you to review our open positions and apply if you think your experience may be a match, even if you do not meet all of the qualifications. Your perspective may be an element we need to continue building innovative solutions to support the markets and market participants we serve.
OCC is a globally recognized entity that clears a multitude of diverse and sophisticated products. We want to reflect this in the diversity of our workforce.