Job title: Director, Procurement
Reports to: Chief Strategy Officer & Head of IR
In this role you will oversee all activities related to global sourcing and vendor management. The incumbent will develop, maintain, and execute vendor strategies designed to achieve Cara’s corporate goals and objectives. The individual must be a change agent, leading by example while remaining in sync with the overarching direction and evolution of the procurement function. The role requires active category knowledge with particular focus on clinical sourcing as well as change management support that challenges traditional spending behaviour, service level definition, and policy setting to enable productivity and efficiency improvements. The individual must have excellent negotiation, analytical and communication skills with a proven ability to build strong relationships with internal and external stakeholders to ensure alignment on objectives and priorities. The individual will drive the built-out of and lead the procurement function.
Duties and responsibilities:
- Collaborate with internal stakeholders to establish and support their sourcing needs and provide guidance, direction, and oversight of all procurement processes.
- Oversee planning, management, and execution of the full procurement life cycle from RFx stage to end of project reconciliation and close out.
- Lead end-to-end competitive sourcing initiatives to include bid list generation, requirements, management of RFP rules, development of selection criteria/ weighting, collaboration with internal stakeholders on supplier selection, cost analysis, and award notification.
- Negotiate a wide variety of contract types: CDA, MSA, SOW, SPA, CTA, SLA, Order Forms, etc.
- Identify and realize cost savings, cost avoidance, and cost reduction opportunities and build a culture of long-term savings on procurement costs without compromising supply assurance or quality.
- Continually explore new suppliers to optimize performance, efficiency, and transparency to stakeholders.
- Develop, implement, and oversee a comprehensive vendor management program including performance metrics and KPIs, risk management, resolution strategies, and governance.
- Define financial analytics and reporting for project teams and various levels of management and provide regular updates.
- Collaborate on the reconciliation of monthly accruals, quarterly/ annual budgeting, and forecasting; ensure sourcing strategies are aligned with budget parameters.
- Support internal and external audit, vendor qualification, SOX compliance, and due diligence requests as necessary.
- Build and maintain strong relationships and oversee collaboration with vendors.
- Ensure sourcing practices are in accordance with corporate ethics, financial policy, and internal control requirements.
Qualifications include but not limited to:
- A minimum of a Bachelor’s Degree in Business Administration is required; advanced degree preferred
- 10+ years of progressive experience in strategic sourcing, clinical outsourcing, procurement and/or vendor management experience in the bio-pharmaceutical industry required
- Outstanding organizational, planning, negotiation, financial management, and analytical skills
- In-depth knowledge of contracting terms, contract development/administration, procurement techniques, principles of negotiations, research and market analysis techniques required
- ERP/MRP system knowledge required; Beanworks experience a plus
- Advanced skills using Excel, PowerPoint, Word, Visio and procurement software and tools required
- Experience with SAP, Ariba, ClearTrial, Grant Plan preferred
- Excellent communication (written & verbal) and interpersonal skills
- Be able to work in a fast-paced environment and meet tight deadlines
Predominantly office or WFH based with travel as needed
Candidates must be a U.S. citizen or lawful permanent resident of U.S. or otherwise authorized to work in the U.S. without requiring sponsorship now or in the future.