Procurement Specialist

Description: Job Summary: The Procurement Specialist supports vendor due diligence, contract negotiations, and procurement processes to ensure third-party relationships align with organizational objectives, performance standards, and compliance requirements. This role coordinates RFPs, contract renewals, and pricing analyses while supporting the development of SLAs, KPIs, and performance guarantees. Additionally, the Procurement Specialist contributes to vendor oversight, third-party risk mitigation, and the maintenance of contract documentation and internal controls to support effective vendor management and protect the organization’s operational and financial interests. Duties and Responsibilities: Execute and maintain comprehensive vendor risk assessments, due diligence evaluations, and business continuity/disaster recovery documentation to ensure compliance with regulatory standards and organizational risk tolerance. Lead and support complex contract negotiations, executing precise redlines on Master Service Agreements (MSAs), Statements of Work (SOWs), and Business Associate Agreements (BAAs) to optimize commercial terms and mitigate legal and financial exposure. Collaborate with business units to design, implement, and enforce meaningful performance guarantees, SLAs, KPIs, and liquidated damages provisions within vendor contracts. Establish, standardize, and monitor vendor governance and oversight processes to ensure third-party compliance with contractual obligations, security standards, and performance benchmarks. Proactively manage the contract renewal pipeline, conducting market intelligence reviews, total cost of ownership (TCO) analyses, and pricing renegotiations to drive cost savings and operational efficiencies. Maintain a centralized, highly organized procurement and contract repository, ensuring strict adherence to internal controls, delegation of authority limits, and external audit requirements. Partner consultatively with internal departments to ensure vendor capabilities are precisely aligned with departmental needs and corporate governance standards. Requirements: Required Knowledge, Skills, and Abilities: Bachelor’s level degree or equivalent experience required 5 years of progressive procurement, purchasing, sourcing, vendor management, or supply chain experience, including contract administration, supplier negotiations, and procurement systems administration. Advanced working knowledge of standard computer applications including MS Word, Excel, Outlook, and PowerPoint Ability using a computer which includes expert keyboard and navigation skills and learning new programs Communicate clearly and professionally with internal and external customers Work effectively individually and as part of a team to achieve established outcomes. Understand other’s roles and empower one another to take responsibility to be successful. Demonstrate collaborative interactions with peers to reach a common goal as well as be a resource to team members and internal/external customers Pay close attention to detail in all aspects of the job Make decisions using available resources and sound judgment Maintain confidentiality and discretion Identify and resolve problems in a timely manner, gather and analyze information skillfully and proactively Share knowledge with associates by effectively communicating and providing follow-up Open to other’s ideas and exhibits a willingness to try new things. Demonstrate accuracy and thoroughness; monitor work to ensure quality. Prioritize and plan work activities to use time efficiently. Adapt to changes in the work environment, manage competing demands and is able to deal with frequent changes, delays, or unexpected events. Follows instructions, responds to direction, and solicits feedback to improve. Act in such a way to instill trust from management, other associates, as well as customers. Physical and Cognitive Demands: The demands described here are representative…

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