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VP, Chief Procurement Officer

Riverwoods, IL, USA | Discover Financial Services

  • Industry:
    Financial Services
  • Position Type:
    Full-Time
  • Functions:
    General Management
    Purchasing / Supply Chain / Logistics
  • Experience:
    10-12 years
Job Description:
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At Discover, be part of a culture where diversity, teamwork and collaboration reign. Join a company that is just as employee-focused as it is on its customers and is consistently awarded for both. We’re all about people, and our employees are why Discover is a great place to work. Be the reason we help millions of consumers build a brighter financial future and achieve yours along the way with a rewarding career.


Discover Financial Services is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America’s cash rewards pioneer, and offers private student loans, personal loans, home equity loans, checking and savings accounts and certificates of deposit through its direct banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation’s leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in 190 countries and territories.


Discover’s vision is to be the leading direct bank and payments partner and its mission is to help people spend smarter, manage debt better and save more so they achieve a brighter financial future.


At Discover, be part of a culture where diversity, teamwork and collaboration reign. Join a company that is just as employee-focused as it is on its customers, and which is consistently awarded for both. We’re all about people and our employees are why Discover is a great place to work. Be the reason we help millions of consumers build a brighter financial future and achieve yours along the way with a rewarding career.


The Position:


The VP, Chief Procurement Officer reports to the SVP, Corporate Finance (Line of Business and Corporate Planning) and is responsible for leading the procurement strategy and managing the day-to-day functioning of DFS’ Procurement function. The role is accountable for the building and optimizing of the Procurement function, implementing best in class end to end vendor management processes. This position will be responsible for driving to the lowest overall operating cost through the procurement of all goods and services required by DFS. The position will be located in Riverwoods, IL


Responsibilities:


Define and execute a Procurement strategy that delivers on established financial targets ensuring monetization of sourcing productivity


Coordinate with all business segments shared services and in order to obtain the best outcomes across DFS


Articulate and execute a Procurement roadmap that builds the capabilities needed for long-term growth and sustainability including launch of a comprehensive preferred vendor program


Responsible for implementing best in class end-to-end source to pay process improvements working across all key constituents


Recruit, staff and develop a high-performing and motivated strategic procurement team responsible for interfacing with business and supplier partners


Design a Procurement organization that has the structure, process, technology, talent practices, metrics and incentive structures needed to deliver the plan and build for the future


Ensure stakeholder alignment and coordination via clearly articulated governance processes including definition of roles and responsibilities, decision rights and communication and coordination mechanisms


Establish balanced scorecard metrics (cost, quality, service, etc.) that drive accountability for Total Operating Cost


Ensure our suppliers are aligned with our low cost approach and held accountable for their performance


Review opportunities between DFS businesses to synergize and consolidates buys


Responsible for advancing DFS supplier diversity program


Identify and prioritize continuous improvement opportunities


Minimum Qualifications


B.S. or B.A. degree in, Business Management, Supply Chain, Risk Management, Operations or related field 8+ years of experience in the financial leading industry, or related field


10+ years of experience in sourcing or supply chain management


Preferred Qualifications


MBA in an appropriately related field is preferred


Exceptional leadership skills that are demonstrated by achieving desired results through others, while building effective internal customer relationships


Proven strategic and critical thinking skills as well as an ability to execute


Exceptional negotiation skills and the ability to coach and develop others to do the same


Outstanding interpersonal, written, verbal and presentation communication skills


Comprehensive business process and systems knowledge, and the ability to identify and implement best practices


Project and Program Management: Must have proven track record of managing and delivering multiple large-scale, multi-functional projects at the same time


Highly organized, with strong attention to detail, clarity, accuracy and conciseness


Skills in all Procurement process disciplines including spend category / commodity management, negotiation, supplier selection, supplier value management, benefits capture, requisition to payment, and acquisition integration


Working knowledge in multiple commodities and spend categories


Expert understanding in e-procurement processes and systems


Expert level financial planning, budgeting and forecasting skills


Experience with modern ERP/MRP software systems and associated procurement systems


Transformative change management skills and self-awareness to take varying approaches with a dynamic set of stakeholders


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