About Wealth Enhancement
Wealth Enhancement is an independent wealth management firm with an endless passion for enriching the lives of our clients. We continually seek to perfect our craft of personalized financial planning with our team-based Roundtable and UniFi processes that go far beyond the standard approach. We proudly provide unique financial plans and investment management services to over 80,000 households from our over 140 offices - and growing - nationwide.
Since 1997, Wealth Enhancement has tirelessly raised the standard of wealth management with specialized knowledge and more attentive service that helps every client craft their future. For more information, please visit www.wealthenhancement.com.
Due to our aggressive growth trajectory, we are looking for a Procurement Specialist to execute category strategies throughout all phases of the vendor lifecycle in collaboration with the business. The scope of the role will span across several indirect procurement categories, but with a particular focus on the Professional Services vertical (BPO, Consulting, Contingent Workforce, Compliance, Legal, Finance and Human Resources).
This role is a remote opportunity.
In the spirit of pay transparency, we are excited to share the base salary range for this position is $90,000.00 to $105,000.00, exclusive of bonuses and benefits. We encourage you to apply and provide us with your compensation expectations when you do. We’re big on open conversations, so, let’s have one.
Job Functions
Category Management
Maintains in-depth understanding of the Professional Services categories they lead, including supplier portfolio, capabilities, risk profiles, market trends, and areas of opportunity
Applies critical thinking and a strategic mindset to identify savings/efficiency opportunities through market research and benchmarking analysis
Routinely engages in detailed analysis to quantify realized savings
Reports on metrics and KPIs to illustrate the value added by procurement in terms of savings, risk mitigation, and improved business outcomes
Strategic Planning
Meets routinely with business unit stakeholders to understand strategic objectives and near/long term plans
Supports execution of a forward-looking category roadmap of existing contracts and planned initiatives
Collaborates with business units to incorporate procurement initiatives into financial and operational plans
Ensures ongoing review and optimization of category plan as a key enabler to WE’s business success
Leading Negotiations & Sourcing Events
Spearheads vendor interactions – including negotiations, RFx, and supplier reviews
Maintains internal alignment on initiative objectives, action items, and timelines
Supports strategic recommendations on market opportunities, negotiation tactics, and points of leverage in order to deliver results
Executes tasks, creates deliverables, and applies administrative support in Jira to ensure initiatives are delivered timely, completely, and in alignment with WE processes
Contract Review
Reviews proposed terms and conditions pursuant to vendor engagements
Utilizes subject matter expertise to recommend contract language improvements to both business and legal terms in alignment with desired positions and outcomes
Develops contractual strategies that deliver on business needs with minimal risk
Leverages Ironclad contract management system for contract storage and research
Cross-Functional Collaboration & Leadership
Serves as an owner of initiatives, driving project team activities through completion
Acts as the single point of contact for business owner, facilitating interaction with other internal/external stakeholders to deliver desired business outcomes
Extensive collaboration with Legal, IT-Security, Finance, and other control groups to mitigate risk in vendor engagements
Development and implementation of processes to enhance the efficiency and effectiveness of how WE interacts with vendors
Education/Skill Requirements
Bachelor's Degree in business or related field required
3+ years of experience supporting strategic sourcing projects, ideally in Services categories
Experience supporting or leading indirect categories strategy
Capable of interfacing with executive level stakeholders, both internally and externally
Strong verbal and written communication skills
Advanced analytical skills
Proficient with Microsoft Office Suite or related software
Experience with contract lifecycle management, sourcing workflow, and procure to pay systems
Wealth Enhancement hires employees and makes decisions about their salary qualifications based on factors such as: the role to be performed; educational and professional experience, qualifications, skills and credentials; tenure, cost-of-living and demand for the role in the applicable market. To comply with state pay transparency laws, we must disclose the entire salary grade. The entire salary grade for those who are classified as the individual contributor level is $79,200.00 to $110,900.00. However, the base salary range bolded above is what we expect to pay as a starting range for this position.
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Comprehensive Benefits Offerings
Our benefits aim to balance four key elements that make life and work meaningful: health and wellness, financial well-being, professional development, and work/life harmony. You may participate in the following benefits & development opportunities:
Training and professional development
Medical, dental and vision coverage (Available to employees and their families)
Health Savings Account (HSA) with employer contribution and Flexible Spending Accounts (FSA) for medical, dependent, and transit expenses
Life and AD&D insurance – employer paid and voluntary options
Short-term and long-term disability, workers compensation – employer paid
401k with match and profit sharing
Wellness programs and resources
Voluntary benefits, including pet insurance
18 days of paid time off (PTO), accrued annually (25 PTO days after 4 years of service)
12 paid holidays each year (10 pre-determined and 2 floating days)
Paid parental leave and paid caregiver leave (Caregiver leave available after 6 months of tenure)
Reimbursement for tuition, licensing, and other credentials (Available after meeting service requirements)
Should you need reasonable accommodation when completing the application form or during the selection process, contact the Human Resources Department at 763-417-1700
Information provided on this application will be kept confidential and only be shared with those involved in the selection process.
Equal Opportunity Employer, including disabled and veterans. This organization participates in E-Verify.
Click the following link to view Federal and E-Verify posters: Link
OSHA Requirements: This position requires the ability to stand or sit for long periods of time, file documents in high or low cabinets, to use the telephone and to use the computer systems.
