Sr. Indirect Sourcing Manager - F500 Company - Chicago

Chicago Permanent USD110,000 - USD130,000
  • Growing Fortune 500 insurance company
  • Hybrid working model

About Our Client

Our client is an industry leader in the insurance industry located in Downtown Chicago. Our client is a Fortune 500 company seeking to add a Sr Indirect Sourcing Manager to join their growing procurement team. Our client has a high-performance atmosphere, opportunity for personal and professional growth, and a healthy work-life balance. This is a great opportunity for someone who wants to contribute to and grow with a company that is highly invested in their people.

Job Description

MPI does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity or expression, national origin, age, disability, veteran status, marital status, or based on an individual's status in any group or class protected by applicable federal, state or local law. MPI encourages applications from minorities, women, the disabled, protected veterans and all other qualified applicants.


  • Direct and execute strategic sourcing strategies, best practices, and initiatives that support aggressive improvements in supplier quality, total cost effectiveness, enhanced service levels, improved coordination, delivery, pricing, lead-times, payment, risk compliance and other areas as identified.
  • Executes category sourcing strategies including development and execution of RFI's and RFP's, documents bid events through correspondence to suppliers; develops selection criteria and drives the selection of suppliers in collaboration with a cross-functional teams; conducts supplier negotiations and ongoing supplier management.
  • Actively seeks ways to streamline business processes; researches and provides information on industry category trends and best practices. Provide procurement input to maximize procurement leverage, optimize project design and minimize project duration and cost.
  • Develop negotiation strategies, gain alignment from stakeholders, lead cross-functional, category-based negotiation teams, and implementing appropriate supplier risk analysis. Directly negotiate with suppliers that require a detailed strategic plan and have a direct correlation with operational needs and goals.
  • Use current spend information/data and business knowledge to identify sourcing projects for individual subcategories and developing an overall cost reduction plan. Demonstrates a comprehensive understanding of business requirements and category ownership by creating and defending category strategies and decisions with sound analytics. Delegates analytic tasks to key support functions; and synthesizes results.
  • Develops supplier score card to measure supplier performance against agreed upon key performance indicators; tracks compliance and supports formal management reporting to director and other members of senior management. Benchmark, track, and analyze annual performance metrics and sourcing trends against budget on a monthly basis to demonstrate continuous improvement and progress against strategic objectives. Implement supplier management programs with key suppliers including metrics, performance goals, and improvement initiatives.
  • Monitor supplier performance to ensure that delivery dates and technical and contractual requirements are met. Participate in strategic meetings with suppliers and business leaders to ensure execution of defined strategies. Manages day-to-day on-going category supplier relations and seeks outgrowth or revision opportunities within supply base. Acts as the internal point of contact for supplier management and complaint resolution; conducts regular supplier meetings and implements improvement strategies with suppliers. Creates, nurtures, and enhances supplier relationships.
  • Aggressively manages category performance by adhering to internal Savings goals and reviewing financial models for commodity type items. Ensure spend portfolio for reoccurring managed spend is balanced through coordinated sourcing waves and leveraged with Capital project sourcing activities.
  • Drive consolidation of spend and seek out synergies across Business Units where applicable, by forming and leading cross-functional strategic sourcing teams to develop and implement category/commodity strategies and to drive cost from individual spend sub-categories. Champions weekly category review meetings with cross-functional teams to manage category performance.
  • May cultivate team morale, motivation, and loyalty through continuous training and mentorship, setting obtainable performance goals, providing clear communication and constructive feedback.

The Successful Applicant

In return for a competitive compensation package, the ideal candidate will possess the following:

  • Bachelor's Degree required
  • 7+ years of experience
  • Indirect procurement experience is a must
  • Experience with multiple indirect categories is a plus
  • Experience in supplier negotiations and developing/executing sourcing strategies
  • Experience with RFPs, RFQs, TCO, process mapping, pricing models, causes of importance, and identification of risk
  • Able to thrive in a hybrid/remote working model
  • Articulate and concise communication - both written and verbal communication
  • Ability to work well both independently and with a team
  • Impeccable attention to detail
  • Insurance industry experience is a plus
  • Claims experience is a plus

What's on Offer

  • Target compensation for the Sr Indirect Sourcing Manager is $120,000 - $130,000 base salary + bonus commensurate on candidate experience
  • Hybrid working model
Arielle Tyus
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Arielle Tyus
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