Senior Buyer, Procurement - Marketing Services

Senior Buyer, Procurement - Marketing Services page is loaded## Senior Buyer, Procurement - Marketing Services locations:
Chicago - 20 S. Wacker time type:
Full time posted on:
Posted Yesterday job requisition :
33618
**** 1. Strategic Sourcing & Category Management
***** Strategy Development:
Experience developing and executing strategic sourcing plans to identify, evaluate, and select the best marketing partners.
* Sourcing Execution:
Lead the end-to-end procurement process, including market analysis, needs assessment, and the development of RFPs.
* Co-op & Partnership Management:
Assist with the development, negotiation, and management of co-operative marketing agreements to maximize shared promotional reach, align brand strategies, and ensure equitable resource allocation between partners.
* Market Intelligence:
Stay updated on marketing trends, agency landscape changes, and new technologies to drive innovation.
**** 2. Contract Management & Financial Analysis
***** Negotiation:
Negotiate complex, high-value agency contracts focusing on intellectual property rights, indemnification, and performance guarantees.
* Financial Modeling:
Conduct detailed financial analysis of supplier proposals, agency rates, and production costs. Provide clear recommendations to leadership to ensure transparency in marketing spend and budgeting.
* Cost Optimization:
Drive significant cost savings and cost avoidance through competitive bidding, process efficiencies, and effective negotiation of agency compensation models (e.g., fixed fees, retainers, performance-based incentives).
**** 3. Supplier Relationship & Performance Management
***** Performance Tracking:
Conduct supplier performance reviews based on established KPIs (quality, cost, compliance, innovation) and drive continuous improvement initiatives.
* Dispute Resolution:
Act as the primary point of contact for internal stakeholders regarding contract compliance and supplier disputes.
******** 4. Stakeholder Collaboration & Compliance
***** Business Partnering:
Build strong, collaborative relationships with key stakeholders in Marketing, Legal, and Finance, influencing alignment across functions and geographies.
* Risk Mitigation:
Ensure all sourcing activities adhere to internal procurement policies, regulatory requirements, and due diligence procedures.
* Payment Exception Management:
Manage urgent, high-profile, and non-standard supplier payments (e.g., one-time event speakers, complex international wire transfers) by coordinating time-sensitive onboarding, payment processing, and necessary compliance documentation across multiple internal teams.
**** Required Education & Experience
****
* Education:

Bachelor’s degree in Supply Chain Management, Business, Finance, Marketing, or a related field.

* Experience:

Minimum of 3 years in strategic sourcing, procurement, or relevant commercial/operational roles.
* Category Expertise:
Proven experience in a procurement, buying, or sourcing role, specifically with a focus on marketing services (e.g., media buying, creative agencies, market research, digital services, Mar Tech).
**** Required Skills
***** Agency Compensation:
Strong understanding of agency compensation models (fees, retainers, incentives).
* Negotiation:
Exceptional negotiation skills to secure favorable terms, pricing, and quality from vendors/agencies. Strong grasp of contract law and contract management.
* Marketing Strategy: A solid grasp of how marketing campaigns work, allowing the buyer to align procurement decisions with the company's overall marketing and business objectives.
* Technology Proficiency:

Experience with procurement-specific software (e.g., SAP Ariba, Coupa), and ideally, marketing or media-buying platforms (e.g., Google Ads and DSPs).
* Communication and

Collaboration:

Excellent verbal and written communication skills to articulate strategies, present reports, and clearly communicate needs to internal stakeholders and external vendors.
* Stakeholder Management:
The ability to build strong, collaborative relationships with both internal marketing teams (the client) and external suppliers/agencies.
* Analytical and Critical Thinking:
Strong ability to analyze complex data, solve problems, and make informed, data-driven decisions.
* Attention to Detail:
Meticulous accuracy when dealing with contracts, purchase orders, financial reports, and campaign specifications.#LI-hybrid

CME Group is committed to offering a competitive total rewards package for our employees that recognizes their contributions to the business and reflects our long-term investment in their future. The pay range for this role is $78,900-$131,500. Actual salary offered will be dependent on a wide array of factors including but not limited to: relevant experience, skills, education and comparison to internal employees (where relevant).

Our compensation program also includes an annual target bonus opportunity for all employees, as well as the opportunity to become an owner in the company through our broad-based…