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CME Group · 1 week ago

Senior Buyer, Procurement - Marketing Services

Chicago, IL

Full-time

Onsite

Mid, Senior Level

$79K/yr - $132K/yr

3+ years exp

CME Group is the world’s leading derivatives marketplace. They are seeking a Senior Buyer to lead the procurement process for marketing services, focusing on strategic sourcing, contract negotiation, and supplier relationship management.

FinanceFinancial ServicesMarketplaceStock Exchanges

Comp. & Benefits

Responsibilities

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

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)

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

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

Qualification

Strategic SourcingMarketing StrategyNegotiationAgency CompensationTechnology ProficiencyStakeholder ManagementAnalytical ThinkingCommunicationAttention to Detail

Required

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

Minimum of 3 years in strategic sourcing, procurement, or relevant commercial/operational roles

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, MarTech)

Strong understanding of agency compensation models (fees, retainers, incentives)

Exceptional negotiation skills to secure favorable terms, pricing, and quality from vendors/agencies. Strong grasp of contract law and contract management

A solid grasp of how marketing campaigns work, allowing the buyer to align procurement decisions with the company's overall marketing and business objectives

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

Excellent verbal and written communication skills to articulate strategies, present reports, and clearly communicate needs to internal stakeholders and external vendors

The ability to build strong, collaborative relationships with both internal marketing teams (the client) and external suppliers/agencies

Strong ability to analyze complex data, solve problems, and make informed, data-driven decisions

Meticulous accuracy when dealing with contracts, purchase orders, financial reports, and campaign specifications