Director of Procurement

Description
Summary:
The Director of Procurement is responsible for developing and leading the enterprise ‑ wide procurement strategy for the bank. This role oversees sourcing, vendor management, contract negotiation, risk compliance, and procurement operations. The Director ensures procurement practices align with regulatory expectations specific to the financial services industry—such as third ‑ party risk management (TPRM) guidelines from the OCC, FDIC, and Federal Reserve—while optimizing cost efficiency, mitigating risk, and supporting strategic business objectives.
Essential Duties and Responsibilities :
Strategic Leadership & Governance

• Develop and execute a comprehensive procurement strategy aligned with the bank’s financial and operational goals.
• Establish procurement policies, procedures, and governance frameworks that comply with banking regulatory requirements.
• Provide leadership and direction to the procurement and vendor management teams.
• Partner with executive leadership to forecast procurement needs and deliver actionable insights.
• Cultivate an environment that supports teamwork, and performance. Provide leadership though communication, performance management, development and recognition of staff
  

Sourcing & Category Management

• Oversee end ‑ to ‑ end sourcing for categories such as technology, professional services, facilities, marketing, and financial services operations.
• Lead RFPs, RFIs, and vendor evaluations to ensure competitive and compliant sourcing decisions.
• Identify opportunities for cost savings, process enhancements, and value creation.
  

Vendor Management & Third ‑ Party Risk

• Own the third ‑ party risk management lifecycle in coordination with compliance, legal, information security, and risk teams.
• Ensure due diligence, ongoing monitoring, and contract compliance for all high ‑ risk vendors.
• Evaluate vendor performance through KPI tracking and periodic business reviews.
  

Contract Negotiation & Administration

• Lead complex negotiations, securing favorable commercial terms while reducing operational and regulatory risk.
• Oversee contract drafting, redlining, approval workflows, and repository management.
• Ensure all agreements meet regulatory, legal, and internal control requirements.
  

Financial Oversight

• Develop the annual procurement budget, cost ‑ saving targets, and financial reporting metrics.
• Monitor spend analytics and provide executive ‑ level reporting on procurement performance.
• Implement cost ‑ optimization initiatives across the enterprise.
  

Risk, Compliance & Audit

• Ensure procurement policies meet requirements from regulatory agencies (OCC, FDIC, Federal Reserve, CFPB).
• Prepare for and support internal audits, regulatory exams, and compliance reviews.
• Maintain strong internal controls and documentation aligned with SOX and enterprise risk frameworks.
  

Education And/or Experience

• Bachelor’s degree in Business, Supply Chain, Finance, or related field required.
• Master’s degree or MBA strongly preferred.
• Professional certifications such as CPSM, CSCP, CTPRP, or CIPS preferred.
• 10+ years of progressively responsible experience in procurement or strategic sourcing.
• 5+ years of leadership experience, ideally within a bank or financial services institution.
• Proven experience managing third ‑ party risk programs within a regulated industry.
• Demonstrated success negotiating complex contracts, especially in technology and professional services.
  

Skills And Abilities

• Deep knowledge of procurement best practices, contracting, and vendor governance.
• Strong understanding of regulatory expectations for third ‑ party risk (OCC 2013 ‑ 29, FDIC FIL ‑ 44 ‑ 2008, etc.).
• Excellent leadership, communication, and stakeholder ‑ management skills.
• Analytical mindset with the ability to interpret financial data and drive cost ‑ saving strategies.
• High level of integrity, judgment, and professional credibility.
• Respectful demeanor toward other associates and managers that promotes a positive and professional work environment.
• Ability to demonstrate the highest level of ethical behavior and confidentiality and maintain confidentiality with sensitive information.
• Understand and comply with bank policy, laws, regulations as applicable to your job duties. This includes but is not limited to; complete compliance training and adhere to internal procedures and controls; report any known violations of compliance policy, laws, or regulations and report any suspicious customer and/or account activity.
  

FirstBank does not accept unsolicited resumes from agencies and staffing firms. Recruitment agencies and consultants may not submit resumes directly to managers. FirstBank will not pay fees to any third-party agency or company that does not have a signed agreement as an approved vendor. FirstBank in an Equal Opportunity Employer, including disability.