Procurement Officer

Company: Citadel Federal Credit Union
Location: Exton
Posted on: May 17, 2025

Job Description:

Job Overview

Find out more about this role by reading the information below, then apply to be considered.

The Procurement Officer will play a pivotal role in establishing and managing the credit union's procurement function. This individual will be responsible for sourcing, negotiating, contracting, vendor onboarding, and ongoing vendor relationship management. The successful candidate will conduct a thorough inventory of existing vendors, identify opportunities for consolidation, and drive cost savings initiatives, aiming to achieve a reduction in overall spend. This is a unique opportunity to build a best-in-class procurement process from the ground up and contribute significantly to the credit union's strategic goals.

Responsibilities

Establish and Develop Procurement Function:

Develop and implement comprehensive procurement policies, procedures, and best practices.
Create and maintain a centralized procurement system and database.
Design and implement a vendor management framework.
Vendor Management:
Conduct a comprehensive inventory and analysis of existing vendors.
Identify opportunities for vendor consolidation and optimization.
Develop and maintain strong relationships with key vendors.
Manage vendor performance and ensure compliance with contracts.
Lead vendor onboarding and offboarding processes.
Sourcing and Negotiation:
Identify and evaluate potential suppliers based on quality, cost, and reliability.
Develop and execute sourcing strategies to meet the credit union's needs.
Negotiate favorable contract terms and pricing.
Conduct competitive bidding and RFPs.
Drive toward 100% of vendors engage in banking activity with Citadel Credit Union.
Contract Management:
Draft, review, and manage contracts and agreements.
Ensure contracts are compliant with legal and regulatory requirements.
Monitor contract performance and address any issues.
Maintain accurate contract records.
Cost Savings and Efficiency:
Identify and implement cost-saving initiatives.
Achieve a reduction in overall procurement spend.
Analyze spending patterns and identify areas for improvement.
Develop and track key performance indicators (KPIs) related to procurement.
Compliance and Risk Management:
Ensure all procurement activities comply with internal policies and regulatory requirements.
Identify and mitigate procurement risks.
Maintain accurate documentation and audit trails.
Reporting and Analysis:
Prepare regular reports on procurement activities and performance.
Analyze procurement data to identify trends and opportunities.
Present findings and recommendations to management.

Qualifications and Education Requirements

Bachelor's degree in Business Administration, Supply Chain Management, or a related field.
Minimum of 6-8 years of experience in procurement, preferably in the financial services industry.
Proven track record of establishing and managing a procurement function.
Strong negotiation, contract management, and vendor management skills.
Excellent analytical and problem-solving abilities.
Proficiency in procurement software and tools.
Strong communication and interpersonal skills.
Ability to work independently and as part of a team.
Strong understanding of compliance and risk management principles.
Certified Professional in Supply Management (CPSM) or similar certification preferred.
Experience in achieving significant cost reduction goals.

Key Competencies:

Strategic Thinking
Negotiation
Contract Management
Vendor Relationship Management
Financial Analysis
Problem Solving
Communication
Project Management
Compliance
Results Driven

Performance Measurements

Performance is based on the Citadel corporate scorecard as well as department and individual goals.

Work Environment

This position will be in an office environment with most work done on a computer. Some events may take place outdoors. Reasonable accommodations will be provided.

Physical Demands

The physical demands and work environment characteristics described herein are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The employee will regularly lift and/or move up to ten pounds. The employee will regularly sit; talk; hear; use hands to finger, handle, or feel; and reach with hands and arms. The employee will occasionally stand. Special vision requirements include close vision and the ability to adjust focus. The noise level in the work environment is usually moderate.

Travel to local and, on occasion out-of-town, meetings and events is required.

EEO Statement

Citadel is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to status as a protected veteran or a qualified individual with a disability, other protected status, such as race, religion, color, national origin, sex, age. We maintain a drug-free workplace and may perform pre-employment substance abuse testing.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.

Keywords: Citadel Federal Credit Union, Newark , Procurement Officer, Other , Exton, New Jersey