Northwestern Mutual · 11 hours ago
Procurement Specialist
Milwaukee, WI
Full-time
Hybrid
Entry Level
$55K/yr - $106K/yr
1+ years expNorthwestern Mutual is a leading financial services company seeking a Procurement Specialist to support strategic sourcing initiatives across various business lines. The role involves optimizing the supply base, managing supplier relationships, and participating in negotiation processes to achieve cost savings and enhance supplier performance.
AdviceConsultingEmployee BenefitsFinanceFinancial ServicesInsuranceLife InsuranceWealth Management
Responsibilities
Demonstrated knowledge of the Intake to Pay process and systems
Support/educate business stakeholders with Sourcing and Procurement process questions
Support sourcing strategies, contracting and governance to achieve return on investment and build longer term relationships. Draft supplier briefs to summarize supplier investments, risks, and opportunities
Understand the business, its competitive environment, and appropriate benchmarks; participate in forecasting process and analyze trends
Experience and understanding of the indirect spend categories and remain up to date on industry trends
Support/lead RFx process. Applies procurement/sourcing strategies, standardization of processes and procedures, supplier selection processes and ongoing supplier management
Assist/Develop negotiation strategies using cost/benefit analysis, should-cost modeling, market research, etc. Participate in negotiation efforts on purchase agreements and supplier contracts with cross-functional teams to achieve optimum results (i.e., costs, quality, terms)
Support, manage, review, negotiate and approve contracts for assigned categories or business areas
Oversee contract planning, terms and conditions, renewals, and compliance and ensure payments align with contract terms
Perform contractual reviews to ensure all agreed upon terms and conditions are included. Ensure contract compliance, perform due diligence in preventing and managing risk to ensure supplier management compliance
Build strong working relationships with various cross functional groups (such as Law, Risk, Tech, etc.) across the enterprise, monitor stakeholder satisfaction, and establish partner relationships to create synergies across accounts
May provide insight for placing supplier solutions within NM in ways that are cost optimized and risk appropriate being mindful of the constantly evolving supplier solutions
Support ongoing innovation, process improvement and identify cost optimization opportunities to deliver increasing efficiency in supplier related processes
Qualification
Required
Bachelor's Degree with an emphasis in Business, Accounting/Finance, MIS, Engineering or related field, or an equivalent combination of education and work experience
1-3 years of relevant category management, strategic sourcing, and supplier management experience
Strong knowledge and understanding of business needs, with the ability to establish and maintain a high level of customer trust and confidence required
Demonstrated flexibility to adjust and respond to changing business needs by effectively managing and prioritizing concurrent assignments
Demonstrated strong analytical abilities in decision making and effective problem solving; ability to exercise judgment and discretion when making decisions in a timely manner, with limited information and guidance
Advanced proficiency with Microsoft Office applications (Work, Excel, PowerPoint, and Outlook). Proficiency with information systems and applications
Strong research, analytical, problem solving, planning and organization skills required as well as a high degree of personal initiative and motivation
Business Acumen: Applies knowledge of both general and organization-specific business issues/financial implications for the organization to problem solve
Contract Administration: Ensures the accuracy of the accounting generated by numerous contract administration systems as well as any necessary manual accounting. Researches and resolves complex reconciliation issues, imbalances and open suspense items. Analyzes product accounting and related administration systems to identify potential enhancements to improve accuracy and efficiency
Cross Functional Partnering & Planning: Facilitates collaboration, communication, coordination, and planning with individuals and teams from different functions within the organization, and who have different areas of expertise, to achieve common goals
Decision Making: Makes timely, data-driven decisions by understanding the probability of success, identifying risks, gathering business requirements, and developing value statements
Vendor Management: Manages third partner vendors/outsourcing relationships, search agencies, and departmental budgets to deliver business objectives. Ability to negotiate vendor contracts, communicate internal stakeholder needs to the vendor, and evaluate potential vendors as needed
Preferred
Previous contract negotiation, contract development, and risk mitigation experience preferred
Direct knowledge and/or training in formal strategic sourcing processes preferred
Benefits
Flexible work schedules
Concierge service
Comprehensive benefits
Employee resource groups
Company
Northwestern Mutual
Northwestern Mutual delivers financial security to millions with life, disability income and long-term care insurance, and investments.
5001-10000 employees
H1B Sponsorship
Northwestern Mutual has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2020 (1)
Funding
Current Stage
Late StageLeadership Team
Timothy Gerend
Chairman, President and CEO
Phil Odella
COO/CFO
Recent News
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2026-02-06
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