Procurement Manager

Middletown, CT

Full time

R00483

At Liberty, we strive to maximize our impact and exceed goals by investing in our teammates to deepen our relationships in the workplace and communities we serve. We take pride in promoting a socially responsible and sustainable future through initiatives and investment.

SUMMARY OF THE JOB:

Reporting to the Chief Financial Officer, the incumbent is responsible for the development, maintenance and oversight of a Procurement/Strategic Sourcing standard at Liberty Bank in support of obtaining goods and services in an efficient and economic manner; ensuring quality, cost effectiveness and unbiased, fair business practices.

ESSENTIAL FUNCTIONS:

The Procurement Manager is responsible for leading the development and implementation of the Bank’s Procurement Policy and maintaining a robust methodology for standardized request for proposal processes, strategic sourcing, spend management and related performance reporting. The Procurement Manager will periodically compile reports to Management, Finance Committee of the Board of Directors, and other stakeholders for analysis and tracking purposes.

This position plans, organizes and controls the Bank’s day to day Procurement and Strategic Sourcing activities and collaborates with stakeholders in the overall administration of these directives for the Bank.

The Procurement Manager will also be expected to build effective relationships with all respective stakeholders as defined in the Procurement Responsibility, Accountability, Consult, Inform (RACI) Matrix (e.g., Vendor Risk Management, Finance, Corporate Admin., Information Technology, General Counsel and other Vendor Owners throughout the Bank as well as industry and regulatory authorities), and participate in various Committees, audits, and examinations.

• Develop & maintain the Bank’s Procurement Policy.

• Maintain sourcing procedures and present improvement strategies to Senior Management for approval.

• Drive purchasing decisions based on cost and scenario analysis, as well as market trends.

• Negotiate contracts with suppliers, including costs and terms of supply, service and quality.

• Conduct market research, as well as creating cost estimates and forecasts.

• Meet savings targets and budgets.

• Conduct competitive sourcing strategies and negotiates with suppliers to minimize costs of materials and improves gross margins.

• Collaborate with Vendor Owners to negotiate vendor contracts and perform Request for Proposals (RFP) and bids.

• Manage relationships with suppliers to ensure reliability, quality and responsiveness expectations are being met.

• Initiate and lead continuous improvement efforts to improve cost of goods, inventory control processes and systems, inventory levels and on-time availability of materials.

• Provide data analysis to drive spend category strategies and savings.

• Support bank-wide common spend sourcing initiatives and break through projects.

• Partner with Vendor Risk Management to ensure new vendors have had due diligence tasks completed before contracts are signed.

• Other duties as assigned.

MINIMUM KNOWLEDGE/SKILLS:

• Bachelor’s degree in business, economics, finance, logistics, or in a related field.

• Master’s degree is preferred in business or specialization in advanced procurement management.

• 7-10 years procurement experience in financial/banking services.

• High degree of interpersonal skills and proven ability to develop and deliver effective training to stakeholders at all levels of the Bank.

• Proven ability to meet deadlines and facilitate solutions in a fast-paced environment.

• Proven ability to be self-sufficient with high integrity, reliability, and accountability.

• Superb leadership and communication skills with the ability to present and influence strategy at all levels in the organization.

• Strong financial acumen to develop pricing/negotiation strategies.

• High level of productivity, ability to take task to completion and meet deadlines under pressure coupled with a focus on quality.

• Familiarity with corporate risk and compliance programs, including risk assessments, testing and monitoring, training, policy/procedure development, and implementation of new products and business processes.

• Strong competency in Word and Excel, PowerPoint and Outlook.

• Knowledgeable in Vendor Management tools.

• Strong organizational, and project management skills.

PHYSICAL REQUIREMENTS:

• General Office Equipment

• Keyboard Dexterity

• Prolonged Sitting

• Ability and willingness to travel

COMPLIANCE:

Acts affirmatively in all activities under his/her control in conformance with the Bank’s Affirmative Action, Equal Employment Opportunity, and Fair Lending Programs to achieve the Bank’s goals and objectives. The Bank shall provide equal employment opportunity to all qualified persons, and continue to recruit, hire, train and evaluate persons in all jobs without regard to race, color, religion, sex, national origin, or veteran status.

Liberty Bank is an Equal Opportunity employer. It is the policy of Liberty Bank to provide equal employment opportunities to all qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran or disabled status, or genetic information.

SALARY RANGE:

$136,000 - $184,000

PAY DISCLAIMER:

The actual salary offered for this position will be determined by several factors, including the scope, complexity, and location of the role; the skills, education, training, credentials, and experience of the candidate relative to internal pay of similar roles; and other conditions of employment. As part of our comprehensive compensation and benefits program, employees are also eligible for performance-based annual incentives.

LIBERTY BANK BENEFIT OFFERINGS:

• Medical, dental, and vision coverage

• 401K with Employer Match

• Pension Plan

• Employer-paid life and disability insurance

• HSA option

• FSA option

• Employee Assistance Program (EAP)

• Telehealth and wellness resources

• Supplemental insurance options

• Pet insurance and legal plan benefits

• Paid Time Off (PTO)

Why work here?

If you’re looking for a career you can be passionate about, you may find more than just your next job at Liberty Bank.

About Us

At Liberty Bank, our 200-year legacy is just beginning. We are building a future defined by purpose, innovation, and opportunity where people feel empowered to grow, lead, and make a difference. Our culture is rooted in connection, accountability, and inclusion, creating an environment where teammates are inspired to bring their full selves to work and do their best work every day.