Procurement Consultant

We’re building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what’s right for our clients. At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute. To learn more about CIBC, please visit CIBC.com The Procurement team provides sourcing support to business partners in executing on their priorities across all aspects of the third-party lifecycle, including advising on sourcing approach, supporting supplier selection methodologies (Request for Proposal, for example), negotiating, and contracting. The team supports a variety of lines of businesses including Capital Markets, Commercial Banking, Enterprise Architecture, Infrastructure Operations, and Wealth Management. As a Procurement Consultant, you will manage the end-to-end procurement activities focusing on indirect spend categories to support the aforementioned lines of businesses. You will define issues and resolve in an innovative way when our internal clients present requests in a general or ambiguous manner. You will develop and provide a procurement approach and recommendations as part of advisory service to our internal clients based on their business requirements and contract analysis. You will develop, negotiate, execute, and implement low to moderate complexity procurement contracts, while ensuring that CIBC risks are mitigated. In addition, you will adhere to any applicable regulatory requirements and CIBC policies. Finally, you will develop contract content (commercial terms and descriptive content, for example) independently or in partnership with a legal resource, lead the contract negotiations, and secure authorizations for agreement execution. At CIBC, we enable the work environment most optimal for you to thrive in your role. You will have the flexibility to manage your work activities within a hybrid work arrangement where you will spend one to two days per week in the office, while other days will be remote. Job Purpose Responsible for managing all aspects of contractual agreements with assigned suppliers, ensuring compliance, minimizing risks, and maximizing opportunities Focus on contract negotiation, drafting, and execution Contract Execution and Management Oversee the entire contract lifecycle, from inception to completion, ensuring compliance with legal, regulatory, and company policies Review, draft, and negotiate various contracts, including vendor agreements, amendments, terminations, and other similar documents, ensuring contracts are inclusive of terms that are most beneficial to CIBC and at the most favorable price possible Contract Renewals and Amendments Manage contract renewals, extensions, and amendments in a timely manner Assess contract performance and propose modifications, as necessary, to meet evolving business needs Revisit and negotiate favorable pricing during each renewal and amendment activity with suppliers Risk Assessment and Mitigation Identify potential risks and liabilities in contracts as they relate to CIBC policies Provide to the lines of business on contractual terms, negotiation positions, and risk management strategies Engage with key stakeholders throughout the organization with expertise related to specific contract clauses when suppliers challenge the preferred language proposed by CIBC Contract Administration Utilize contract management systems and processes to maintain accurate contract records, and facilitate effective contract management Track contract performance, obligations, and deliverables to ensure compliance and prompt action Collaboration and Negotiation Collaborate closely with internal teams to understand business requirements, negotiate terms, and resolve contract-related issues Maintain strong relationships with external partners, clients, and vendors to foster effective communication and ensure mutual understanding Who You Are You can demonstrate experience in procurement supplier processes, practices, tools and templates, and principles of formal sourcing processes. You maximize efficiencies, processes, and systems to meet CIBC business goals. You have strong self-planning skills sufficient to plan your own assignments according to general work plans while having the ability to multi-task, plan, and meet timelines. Experience drafting various types of supplier contracts is preferred. You have strong written and oral communication skills, and the desire to develop strong influencing and negotiation skills. You are enthusiastic about people. You find meaning in relationships and build centers of influence. You build trust through respect and authenticity. You put our clients first. You engage with purpose and the required level of urgency to find the right solutions. You go the extra mile because it is the right thing to do. You understand that success is in the details. You notice things that others may not notice. Your critical thinking skills help to inform your decision making. Values matter to you. You bring your real self to work, and you live our values – trust, teamwork, and accountability. At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $90,000.00 - $110,000.00 for the Chicago market based on experience, qualifications, and location of the position. The successful candidate may be eligible to participate in the relevant business unit’s incentive compensation plan, which may also include a discretionary bonus component. CIBC offers a full range of benefits and programs to meet our employee’s needs; including Medical, Dental, Vision, Health Savings Account, Life Insurance, Disability, and Other Insurance Plans, Paid Time Off (including Sick Leave, Parental Leave and Vacation), Holidays and 401(k), in addition to other special perks reserved for our team members. This position does not offer visa sponsorship. What CIBC Offers We work to recognize you in meaningful, personalized ways including a competitive salary, incentive pay, banking benefits, a benefits program*, a vacation offering, wellbeing support, and MomentMakers, our social, points-based recognition program. Our spaces and technological toolkit will make it simple to bring together great minds to create innovative solutions that make a difference for our clients. We cultivate a culture where you can express your ambition through initiatives like Purpose Day; a paid day off dedicated for you to use to invest in your growth and development. Subject to plan and program terms and conditions What You Need To Know CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contact View email address on click.appcast.io You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit. We may ask you to complete an attribute-based assessment and other skills tests (such as simulation, coding, MS Office). Our goal for the application process is to get to know more about you, all that you have to offer, and give you the opportunity to learn more about us. Job Location IL-Chicago, 70 W Madison St Fl 9 Employment Type Regular Weekly Hours 40 Skills Analytical Thinking, Communication, Contract Negotiations, Detail-Oriented, Policy Compliance, Researching, Risk Management, Service Levels #J-18808-Ljbffr