Procurement Officer

Company Description

For more than 70 years, IDB Bank has made it our mission to be the best bank for our clients by putting their needs first, and the success we’ve enjoyed fundamentally comes down to our people. Here at IDB, you’ll work side by side with some of the most talented professionals in the industry who share a strong sense of teamwork and a passion for providing exceptional service down to the smallest detail. We offer a comprehensive benefits package that includes generous paid time off and the ability to participate in our medical coverage and 401(k) plan on your very first day with us. We are also committed to diversity and inclusion, and to providing all of our team members with an equal opportunity to succeed and make meaningful contributions within a work environment that is respectful, welcoming and inclusive.

Job Description

The position will support the overall direction of IDBNY’s bank-wide procurement and expense management activities. The position will perform or assist in ensuring that all procurement, expense management, contract and vendor management activities deliver value for money and innovation in accordance with IDBNY’s finance, expense management and business strategy.

The position will be responsible in partnership with the various relationship managers for providing complete vendor analysis, evaluation and selection.

The position will be responsible for assisting with contract negotiations including engagement with various internal and external parties where necessary.

The position will act as a role model of professional procurement practices, delivering high quality data analysis in support of strategic solutions being evaluated to meet the needs of the bank, provide valuable procurement and vendor management expertise and having significant coverage and commercial influence over IDBNY’s third-party investments.

The position will be a key procurement and expense management point of contact for IDBNY and create / deliver relevant procurement and expense management reports, presentations and recommendations to Management Team members as required.

Meets with Relationship Managers (RM’s) and Key Stakeholders to ensure that the business strategy and functional business needs are effectively aligned for maximum return on investment and functionality.

Duties:

• Formulates reasonable business optimization plans subsequent to analysis and identification of addressable spend and secures buy-in from RM’s and Key Stakeholders to deliver planned activities.
• Delivers robust analysis for contracts and subcontracts with all relevant flow downs which enable IDBNY to execute strong vendor agreements both financially and contractually. Ensures these contracts minimize IDBNY’s operational and financial exposure and contain continuous improvement targets.
• Audits contracts, requisitions and purchase orders, and prepares data reports to substantiate individual transactions prior to settlement.
• Assists in the modification, documentation, and coordination related to roll out and updates of Procurement systems and Procurement management control procedures.
• Provides Procurement best practices guidance to the Relationship Managers and Key Stakeholders in the formulation and execution of sourcing strategies and supporting business cases which effectively reduce IDBNY’s operating costs.
• Leads and mentors’ others within IDBNY to ensure that innovation and continuous improvement is delivered in the areas of expense management and supplier relationship management.
• Through a series of processes including data analytics, delivers financial targets and executes significant cost reduction strategies while maintaining and improving service for IDBNY.
• Supports the various departmental team members in managing supplier relationships that deliver improved efficiency and value-added capability through cultivating an environment of ideas generation and innovation from the incumbent supply base.
• Provides data driven guidance across IDBNY to ensures the appropriate supply risk and audit activities are conducted and adhered to by all departments.
• Delivers appropriate performance data and metrics for senior management reports.
• Supports the Head of Procurement in the development of the vision, objectives and strategies for the Procurement function and communicates them to Internal Stakeholders.
• Leads regular procurement training initiatives across all of IDBNY to ensure clear expectations, understanding and compliance of IDBNY procurement & expense management procedures are met. 

Supervisory Responsibilities:

While there are no direct supervisory responsibilities, this position entails delegating and reviewing the work of others as well as advising on relevant procurement, expense management and vendor management principles.

#LI-Hybrid

Qualifications

• BA/BS Degree in Finance, Business or equivalent work experience.  Minimum of 7 years experience working in a developed Procurement and Finance Department, with at least 4 years experience supporting Corporate Expense Management and Vendor Management activities.
• Demonstrates a solid track record of significant and meaningful financial analysis / delivery.
• Demonstrates a solid track record of maximizing vendor investment and elimination of vendor redundancies supporting measurable cost optimization including cost reductions.  
• Experience with, and demonstrated skill at, the following computer applications:  Word Processing, Spreadsheets (Excel preferred), Accounting software, E-mail, and Database software (Oracle and ServiceNow preferred).
• Communicates effectively both orally and in writing; presents ideas in a clear, concise, understandable, and organized manner.
• Demonstrates ability to interface and present in a professional manner to both internal Senior Leadership as well as external Executives.

Compensation

The expected annual base salary for this position is between $95,000 - $110,000 at the start of employment. A salary offer is determined on an individualized basis, taking into consideration factors such as an individual’s skills, experience, and book of business. In addition to base salary, our total rewards package also includes eligibility for incentive compensation, medical, pharmacy, dental, and vision plans, life and disability insurance, employee wellness program, retirement and savings plans with employer contributions, generous holiday and paid time off schedules, parental leave, and tuition reimbursement.

Additional Information

The Bank will make reasonable accommodations to the following employees to allow them to perform the essential functions of their position, except where doing so would result in undue hardship to the Bank:

• Those with a known mental or physical disability.
• Pregnant individuals and/or individuals with pregnancy or childbirth-related medical conditions.
• Victims of domestic violence, sex offenses or stalking.
• Employees with religious observance and practice obligations.

Any employee who believes he or she needs an accommodation for any of the above reasons should contact their supervisor or a member of Human Resources to request such an accommodation. In each case, the Bank will engage in a good faith written or oral dialogue concerning the individual’s accommodation needs; potential accommodations that may address the individual’s accommodation needs, including alternatives to a requested accommodation; and the difficulties that such potential accommodations may pose for the employer.

The Bank retains the ultimate discretion to choose the appropriate reasonable accommodation. Upon reaching a final determination at the conclusion of the cooperative dialogue, the Bank will provide the requesting individual with a written final determination identifying any accommodation granted or denied. In addition, the Bank will maintain any information regarding the employee’s request and status in the strictest confidence, except as requested by the employee, as required on a need-to-know basis or as otherwise required by law.

Disclaimer

The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.

All your information will be kept confidential according to EEO guidelines.

Due to COVID-19, we are now operating on a hybrid schedule. We value the safety of our employees because we’re all in this together.

NO AGENCIES PLEASE.

IDB BANK, INCLUDING ITS SUBSIDIARIES AND DIVISIONS, PROVIDES EQUAL EMPLOYMENT OPPORTUNITIES TO ALL EMPLOYEES AND APPLICANTS FOR EMPLOYMENT WITHOUT REGARD TO RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, NATIONAL ORIGIN, AGE, DISABILITY, GENETIC STATUS, CITIZENSHIP STATUS, MARITAL STATUS, MILITARY OR VETERAN STATUS, CURRENT UNEMPLOYMENT OR ANY OTHER LEGALLY PROTECTED CATEGORY IN ACCORDANCE WITH APPLICABLE FEDERAL, STATE AND LOCAL LAW. NOTHING IN THIS SITE CONSTITUTES A PROMISE OR OFFER OF EMPLOYMENT.