Procurement Specialist

The Contract Specialist will play a critical role in supporting our clients' Procurement Department by managing contract negotiations, drafting, and administration. This position involves working closely with three Senior Sourcing Managers and the Procurement Business Analyst to ensure timely and accurate execution of sourcing initiatives.

The role requires strong organizational skills, attention to detail, and the ability to manage multiple priorities in a fast-paced financial services environment.

Key Responsibilities

Contract Management & Negotiation

• Draft, review, and negotiate commercial contracts, ensuring compliance with company policies and applicable laws.
• Collaborate with internal stakeholders and legal teams to resolve contractual issues and mitigate risks.
• Maintain accurate records of contract versions, approvals, and execution status.

Procurement Support

• Assist Senior Sourcing Managers in sourcing activities, including vendor selection, RFP/RFI processes, and bid evaluations.
• Prepare reports, presentations, and documentation to support procurement decisions.
• Track and monitor supplier performance and compliance with contractual obligations.

Client Request Coordination

• Orchestrate and prioritize incoming client requests and purchase initiatives.
• Serve as a liaison between internal stakeholders and suppliers to ensure timely resolution of inquiries.
• Provide administrative and communication support for procurement activities.

Data & Reporting

• Generate and analyze procurement reports to identify trends, cost-saving opportunities, and compliance gaps.
• Maintain dashboards and trackers for contract lifecycle management.

Cross-Functional Collaboration

• Interact with C-suite executives, legal personnel, and business units to align procurement strategies with organizational goals.
• Support internal audits and compliance reviews related to procurement and contracts.

Qualifications

Experience Level

• 5+ years of experience in contract negotiation and commercial contract law.
• 3+ years in sourcing or supply chain management within a corporate environment.

Required Skills and Experience

• Excellent verbal and written communication skills, including professional business writing and legal terminology.
• Strong organizational skills with the ability to manage multiple priorities.
• Proficiency in Microsoft Office 365 Suite (Outlook, Word, Excel, PowerPoint, SharePoint, Forms, OneNote), Adobe Acrobat Pro, and e-signature platforms (e.g., DocuSign).
• Professional demeanor with strong customer focus and ability to interact with senior executives.
• Agile multitasker, adaptable to changing demands.

Preferred Skills (Nice to Have)

• Experience with ERP/Corporate Financial Management Software (e.g., PeopleSoft Financials).
• Knowledge of Contract Lifecycle Management systems and concepts.
• Familiarity with Uniform Commercial Code and basic contract law principles.
• Exposure to Source-to-Pay systems.
• Experience with GEP