We’re building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what’s right for our clients.
At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute.
To learn more about CIBC, please visit CIBC.com
The Procurement team provides sourcing support to business partners in executing on their priorities across all aspects of the third-party lifecycle, including advising on sourcing approach, supporting supplier selection methodologies (Request for Proposal, for example), negotiating, and contracting. The team supports a variety of lines of businesses including Capital Markets, Commercial Banking, Enterprise Architecture, Infrastructure Operations, and Wealth Management.
As a Procurement Consultant, you will manage the end-to-end procurement activities focusing on indirect spend categories to support the aforementioned lines of businesses. You will define issues and resolve in an innovative way when our internal clients present requests in a general or ambiguous manner. You will develop and provide a procurement approach and recommendations as part of advisory service to our internal clients based on their business requirements and contract analysis. You will develop, negotiate, execute, and implement low to moderate complexity procurement contracts, while ensuring that CIBC risks are mitigated. In addition, you will adhere to any applicable regulatory requirements and CIBC policies. Finally, you will develop contract content (commercial terms and descriptive content, for example) independently or in partnership with a legal resource, lead the contract negotiations, and secure authorizations for agreement execution.
At CIBC, we enable the work environment most optimal for you to thrive in your role. You will have the flexibility to manage your work activities within a hybrid work arrangement where you will spend one to two days per week in the office, while other days will be remote.
Responsible for managing all aspects of contractual agreements with assigned suppliers, ensuring compliance, minimizing risks, and maximizing opportunities
Focus on contract negotiation, drafting, and execution
Oversee the entire contract lifecycle, from inception to completion, ensuring compliance with legal, regulatory, and company policies
Review, draft, and negotiate various contracts, including vendor agreements, amendments, terminations, and other similar documents, ensuring contracts are inclusive of terms that are most beneficial to CIBC and at the most favorable price possible
Manage contract renewals, extensions, and amendments in a timely manner
Assess contract performance and propose modifications, as necessary, to meet evolving business needs
Revisit and negotiate favorable pricing during each renewal and amendment activity with suppliers
Identify potential risks and liabilities in contracts as they relate to CIBC policies
Provide to the lines of business on contractual terms, negotiation positions, and risk management strategies
Engage with key stakeholders throughout the organization with expertise related to specific contract clauses when suppliers challenge the preferred language proposed by CIBC
Utilize contract management systems and processes to maintain accurate contract records, and facilitate effective contract management
Track contract performance, obligations, and deliverables to ensure compliance and prompt action
Collaborate closely with internal teams to understand business requirements, negotiate terms, and resolve contract-related issues
Maintain strong relationships with external partners, clients, and vendors to foster effective communication and ensure mutual understanding
You can demonstrate experience in procurement supplier processes, practices, tools and templates, and principles of formal sourcing processes. You maximize efficiencies, processes, and systems to meet CIBC business goals. You have strong self-planning skills sufficient to plan your own assignments according to general work plans while having the ability to multi-task, plan, and meet timelines. Experience drafting various types of supplier contracts is preferred. You have strong written and oral communication skills, and the desire to develop strong influencing and negotiation skills.
You are enthusiastic about people. You find meaning in relationships and build centers of influence. You build trust through respect and authenticity.
You put our clients first. You engage with purpose and the required level of urgency to find the right solutions. You go the extra mile because it is the right thing to do.
You understand that success is in the details. You notice things that others may not notice. Your critical thinking skills help to inform your decision making.
Values matter to you. You bring your real self to work, and you live our values – trust, teamwork, and accountability.
At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $90,000.00 - $110,000.00 for the Chicago market based on experience, qualifications, and location of the position. The successful candidate may be eligible to participate in the relevant business unit’s incentive compensation plan, which may also include a discretionary bonus component. CIBC offers a full range of benefits and programs to meet our employee’s needs; including Medical, Dental, Vision, Health Savings Account, Life Insurance, Disability, and Other Insurance Plans, Paid Time Off (including Sick Leave, Parental Leave and Vacation), Holidays and 401(k), in addition to other special perks reserved for our team members.
This position does not offer visa sponsorship.
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What CIBC Offers
At CIBC, your goals are a priority. We start with your strengths and ambitions as an employee and strive to create opportunities to tap into your potential. We aspire to give you a career, rather than just a paycheck.
We work to recognize you in meaningful, personalized ways including a competitive salary, incentive pay, banking benefits, a benefits program*, a vacation offering, wellbeing support, and MomentMakers, our social, points-based recognition program.
Our spaces and technological toolkit will make it simple to bring together great minds to create innovative solutions that make a difference for our clients.
We cultivate a culture where you can express your ambition through initiatives like Purpose Day; a paid day off dedicated for you to use to invest in your growth and development.
*Subject to plan and program terms and conditions
What you need to know
CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contact Mailbox.careers-carrieres@cibc.com
You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit
We may ask you to complete an attribute-based assessment and other skills tests (such as simulation, coding, MS Office). Our goal for the application process is to get to know more about you, all that you have to offer, and give you the opportunity to learn more about us.
Job Location
IL-Chicago, 70 W Madison St Fl 9
Employment Type
Regular
Weekly Hours
40
Skills
Analytical Thinking, Communication, Contract Negotiations, Detail-Oriented, Policy Compliance, Researching, Risk Management, Service Levels
CIBC is here to help all our clients reach their goals.
We know the importance of reliable financial products and services, and we’re dedicated to providing them in a way that lets you bank however you want, whenever you want.
With innovative tools designed around your priorities and a team fully focused on your success, you’ll get the insights you need to get even closer to achieving your goals.
This culture of innovation and shared values of trust, teamwork and accountability are why we’ve been named a top employer in Canada. They’re also why a career at CIBC is more than a job—it’s an opportunity to grow and work alongside some of the brightest in Canada.
La Banque CIBC est là pour aider tous nos clients à atteindre leurs objectifs.
Nous connaissons l'importance de produits et services financiers fiables, et nous nous engageons à les fournir d'une manière qui vous permette d'effectuer vos opérations bancaires comme vous le souhaitez, quand vous le souhaitez.
Avec des outils innovants conçus autour de vos priorités et une équipe entièrement centrée sur votre réussite, vous obtiendrez les informations dont vous avez besoin pour vous rapprocher encore plus de vos objectifs.
Cette culture de l'innovation et les valeurs partagées de confiance, de travail d'équipe et de responsabilité sont la raison pour laquelle nous avons été nommés l'un des meilleurs employeurs au Canada. C'est aussi pourquoi une carrière à la Banque CIBC est plus qu'un emploi : c'est une occasion de grandir et de travailler aux côtés de certaines des personnes plus brillantes au Canada.
