Head of Strategic Sourcing

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.

Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

This role reports to the Chief Procurement Officer (CPO) for Northern Trust. The Head of Strategic Sourcing is a senior leader responsible for driving enterprise-wide value creation, cost optimization, and third-party risk alignment across the firm’s global spend portfolio of $3B across 4k suppliers. This role operates as a centralized procurement leader within the first line of defense, partnering with executive stakeholders to influence demand, shape sourcing strategies, and deliver measurable financial and operational outcomes.

Key Responsibilities -

Enterprise Value Delivery:
Lead sourcing strategies and complex negotiations to deliver cost savings, cost avoidance, and demand optimization aligned to firm financial goals

Strategic Business Partnership:
Act as a trusted advisor to senior leadership; influence spend decisions, challenge demand, and ensure procurement is engaged early in strategic initiatives

Category & Market Strategy:
Develop and execute category strategies leveraging market intelligence, supplier benchmarking, and industry trends

Third-Party Risk Integration:
Align sourcing activities with the Head of Third-Party Risk to assist in regulatory, and operational resilience requirements (financial, cyber, concentration, and fourth-party risk)

Supplier Strategy & Governance:
Establish and manage strategic supplier relationships, performance frameworks, and preferred supplier programs to drive value and accountability

Procurement Compliance:
Ensure adherence to procurement policy, contracting standards, and P2P governance; maintain audit-ready processes and strong internal controls

Data, Reporting & Insights:
Drive spend transparency, data quality, and performance reporting to enable informed decision-making and executive visibility

Leadership & Team Development:
Lead and develop a high-performing global sourcing team; build capabilities in negotiation, category management, and risk-informed sourcing

Key Performance Metrics -

• Realized savings and cost avoidance
• Spend under management and supplier optimization
• Contract compliance and policy adherence
• Stakeholder engagement and satisfaction

Qualifications -

• 10+ years of progressive procurement / strategic sourcing leadership experience

• Expertise in complex negotiations, category management, and supplier strategy

• Strong understanding of third-party risk and regulatory expectations within financial services

• Proven ability to influence senior stakeholders and operate in a global, matrixed environment

• Data-driven mindset with focus on measurable business outcomes

• Executive presence and strong influencing skills

• Ability to balance cost, risk, and operational priorities

• Strategic thinker with hands-on execution capability

• Collaborative, accountable, and results-oriented leader

Salary Range:

Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

Working with Us:

As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.

Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.

We’d love to learn more about how your interests and experience could be a fit with one of the world’s most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater

Reasonable accommodation

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [email protected].

We hope you’re excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.

Apply today and talk to us about your flexible working requirements and together we can achieve greater.