Procurement Director - Strategic Sourcing | Edelman Financial Engines

Procurement Director - Strategic Sourcing

Boston, Massachusetts

At Edelman Financial Engines, we believe every hardworking American deserves to move their financial life forward, and we’re growing our team so we can help more clients every day.

As the Procurement Director - Strategic Sourcing, you will be responsible for contributing to the procurement and vendor management function to address Edelman Financial Engines procurement needs using a strategic sourcing approach, to evaluate and select vendors for materials and services that are of highest quality and best value; and for providing direction and oversight ensuring that daily operations are performed with integrity and in accordance to the company’s Policies and Procedures. The Procurement Director will help build a center of excellence supporting 1500+ employees nationally across multiple office locations reporting into the Head of Procurement in Boston, MA.  The Procurement function is a centralized shared services function supporting the firm nationally. The role is a senior strategic sourcing position with in-depth supply management, vendor management and overall procurement experience including project management and spends analytics.

Spend category responsibilities include; marketing, contingent labor force, IT, telecommunications, financial services, facilities, software, infrastructure, etc.  The Director Position involves the active oversight of firm wide initiatives and best practices across all lines of business. Key areas of excellence include; cost reduction, process improvements, benchmark analytics, CLM tool implementation, NetSuite Purchase Order Management, sourcing complex RFP’s and project management. Key contributions would include: the development of the Vendor Book, the Procurement Playbook and the creation of Procurement Savings Scorecard. Driving change and presenting to senior management on critical initiatives must be a key strength.

In addition, the role is to create and maintain strong internal relationships to understand, support and guide the business goals while providing assertive leadership in mitigating risk and negotiating appropriate commercial terms in establishing, executing and maintaining appropriate and effectual legal contracts.  

Procurement Role and Responsibilities:

  • To procure goods and services in supporting enterprise operations of Edelman Financial Engines.  Support cost centers in managing budget targets in large spend commodities including consulting, marketing and recurring business expenses specifically IT: annual software license renewals, maintenance support agreements and hardware support and RMA activity.
  • Responsible for the growth, advancement and performance of the Procurement Function at Edelman Financial Engines
  • Proven excellence and leadership capabilities in contract negotiations with suppliers for optimal contract terms while mitigating financial and operational risk
  • Innovative and technically proficient in P2P systems and Windows (excel and PPT)
    • Pro-active leader in advancing and setting direction for efficiencies in the Procure-to Pay Process
    • Process Purchase Orders and manage the adherence of the requisition process for business owners to enter requisitions on a timely basis
    • Oversee the training and proper utilization of NetSuite across the firm for timely and accurate Purchase Order creation.
    • Closely work with the Accounts Payable team in ensuring Purchase Orders and Contracts are matched with invoices for prompt and accurate invoice payment process.  
  • Supporting and guiding business managers with large scale contracts for inventory accuracy, contract pricing flexibility and budget management 
  • Strategic evaluation, analysis, negotiation, contract authoring and redlining of indirect sourcing expenses needed to run the business.
  • Contract negotiation and execution includes:
    • Proficiency in redlining legal and commercial contract terms and conditions
    • Direct interface/representative of the firm for indirect sourcing contract negotiations
    • Creative strategic thinking in negotiating and implementing fee structure commitments with suppliers that supports the business requirements
    • Development of competitive tiered pricing models
    • Creation of analytics and savings tracking and scorecard metrics
    • RFP initiatives including: initiation, creation, launch, tracking and analysis, competitive bid negotiation, drafting and redlining, to final contract execution.
    • Internal Legal counterpart, partnering to finalize redline edits for final approval and editing for appropriate Terms and Conditions for Vendor review
  • Contribute to updates and changes in the corporate Procurement Policies and Procedures and Vendor Risk Policy and Procedures annually
  • Provide efficiencies across supplier chain activities, establish the firm’s negotiating leverage and consolidate/select VARs into a strategic group of preferred resellers across the firm.


  • Self-driven motivated leader with proven success in building relationships with internal and external clients.  Proficient in leading the decision-making process when selecting the best solutions and vendors in driving the business forward
  • Seen as an integral role and team player to the organization and proven ability to multi-task
  • The Director fosters cooperation and teamwork at all levels throughout the firm and seeks to motivate the Procurement team by developing an environment of creativity and productivity.
  • Support innovation, experimentation and strategic thinking in the workplace
  • Build morale, foster a creative and open environment for problem solving, exchange of ideas and learning
  • Excellent Communicator – demonstrates excellent written communication skills across all levels of the organization.  Ability to present to the Head of Procurement and senior management ideas, issues and recommendations spearheading business change.

Business Stakeholder Engagement

  • Influencing budget managers on best in class vendor selection for contract terms and conditions
  • Lead meetings across multiple departments in driving change and consolidation of suppliers for cost savings and vendor optimization
  • Management of select category support & maintenance and SaaS/SW renewal  contracts for the business
    • Audit and collaborate with business owner’s category specific inventories ensuring proper requirements are identified and adequate licensing/consumption is captured and cost control measures are implemented
    • Supporting and establishing annual budget targets for recurring agreement commitments.

 Vendor Management and Risk Program

  • Risk Assessment and Due Diligence – contribute and participate in establishing a process that manages and assesses vendor risk from selection through contracting
  • Vendor Management and SLA reviews on an annual or bi-annual basis
  • Identify any PII or Business Critical Systems when working with the business unit on an initiative or new contract with a vendor
  • Obtain SOC I or SOC II certifications as required/defined by the business

About Edelman Financial Engines 

Since 1986, Edelman Financial Engines has been committed to always acting in the best interest of our clients. We were founded on the belief that all American investors – not just the wealthy – deserve access to personalized, comprehensive financial planning and investment advice. Today, we are America’s top independent financial planning and investment advisor, recognized by both InvestmentNews1 and Barron’s2 with 170+ planner offices across the country and entrusted by more than 1.2 million clients to manage more than $213 billion in assets. Our unique approach to serving clients combines our advanced methodology and proprietary technology with the attention of a dedicated personal financial planner. Every client’s situation and goals are unique, and the powerful fusion of high-tech and high-touch allows Edelman Financial Engines to deliver the personal plan and financial confidence that everyone deserves. 


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© 2019 Edelman Financial Engines™, LLC All rights reserved. All advisory services provided by Financial Engines Advisors L.L.C. Financial Engines Advisors does not guarantee future results. 


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Edelman Financial Engines encourages success based on our individual merits and abilities without regard to race, color, religion, creed, sex, gender identity or expression, sexual orientation, pregnancy, marital, domestic partner, or civil union status, national origin, citizenship, ancestry, ethnic heritage, genetic information, age, legally recognized disability, military service or veteran status. 


1 Ranking and status for 2019. For independence methodology and ranking, see InvestmentNews Center (; 


2 The 2019 Top 50 Independent Advisory Firm Ranking issued by Barron’s is qualitative and quantitative, including assets managed, the size and experience of teams, and the regulatory records of the advisers and firms. Firms elect to participate, but do not pay to be included in the ranking. Investor returns/experience are not considered. 2018 ranking refers to Edelman Financial Services (EFS), which combined its advisory business in its entirety with Financial Engines Advisors L.L.C. (FEA) in November 2018. For the same survey, FEA received a precombination ranking of twelfth.