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Procurement Lead

Wealth Enhancement Group

Wealth Enhancement Group

Minneapolis, MN, USA · Remote
Posted on Tuesday, September 19, 2023

Job Description:

About Wealth Enhancement Group

Wealth Enhancement Group is an independent wealth management firm offering comprehensive and customized financial planning and investment management services. Founded in 1997, we now have over 75 offices nationwide and are rapidly expanding through organic growth and acquisition.

Our mission is to work together to improve our clients’ lives by providing them with the team-based expertise and resources they need to simplify their financial life. We share perspectives. We explore every point of view. We believe the best ideas are born from collaboration. And we’re looking for like-minded individuals to join our team.

Due to growth, we are seeking a Procurement Lead. The focus of this role will be to lead the development and execution of category strategies throughout all phases of the vendor lifecycle in collaboration with senior leadership across WEG’s business. Scope of role will span across several indirect procurement categories, including (but not limited to) Facilities, Professional Services, Marketing, and Travel. (This position can be remote.)

The salary target for this role is $ 145,000- $150,000; this position is eligible for an annual bonus .

We select our initial compensation target using national compensation survey data. When we make an offer, we then factor in things like tenure, performance, and geographic location to come up with the most accurate numbers. We encourage you to apply and provide us with your compensation expectations when you do. We’re big on open conversations, so, let’s have one.

Primary Job Functions

Category Benchmarking & Analysis

  • Maintains in-depth understanding of categories they lead, including supplier portfolio, capabilities, risk profiles, market trends, and areas of opportunity
  • Applies critical thinking and a strategic mindset to identify savings/efficiency opportunities through market research and benchmarking analysis
  • Routinely engages in detailed analysis to quantify “size of prize” and realized savings
  • Reports on metrics and KPIs to illustrate the value added by procurement in terms of savings, risk mitigation, and improved business outcomes

Strategic Planning

  • Meets routinely with business unit leadership to understand their strategic objectives and near/long term plans
  • Maintains a forward-looking category roadmap of existing contracts and planned initiatives
  • Collaborates with business units to incorporate procurement initiatives into financial and operational plans
  • Ensures ongoing review and optimization of category plan as a key enabler to WEG’s business success

Leading Negotiations & Sourcing Events

  • Spearheads vendor interactions on behalf of WEG, including direct negotiations, RFx, and supplier performance reviews
  • Maintains internal alignment on initiative objectives, action items, and timeline
  • Makes strategic recommendations on market opportunities, negotiation tactics, and points of leverage to deliver best results for WEG
  • Executes tasks, creates deliverables, and applies administrative support to ensure initiatives are delivered timely, completely, and in alignment with WEG’s evolving processes

Contract Review

  • Reviews proposed terms and conditions pursuant to potential vendor engagements
  • Redlines both business and legal terms in alignment with desired positions and outcomes
  • Develops contractual strategies that deliver business need with minimum risk
  • Leverages contract management system for contract storage and research

Cross-Functional Collaboration & Leadership

  • Serves as primary owner of initiatives, driving project team activities through completion
  • Single point of contact for business owner, facilitating interaction with other internal/external stakeholders to deliver desired business outcomes
  • Extensive collaboration with Legal, IT Security, Finance, and other risk control groups to mitigate risk in vendor engagements
  • Development and implementation of processes to enhance the efficiency and effectiveness of how WEG interacts with vendors


  • Bachelor's Degree in business or related field
  • MBA and/or JD preferred
  • At least 5 years’ experience leading enterprise negotiations
  • Significant experience leading sourcing strategy and negotiations in multiple indirect categories, including Facilities, Professional Services, Marketing, and Travel
  • Confidently interfaces with executive level counterparts, both internally and externally
  • Superior verbal and written communication skills
  • Advanced analytical skills
  • Proficient with Microsoft Office Suite or related software
  • Experience with contract lifecycle management, sourcing workflow, and procure to pay systems

Comprehensive Benefits Offerings

Our benefits aim to balance four key elements that make life and work meaningful: health and wellness, financial well-being, professional development, and work/life harmony. You may participate in the following benefits & development opportunities:

  • Training and professional development
  • Medical and dental coverage
  • 401k – with match and profit sharing
  • Health care spending and savings accounts
  • Dependent care spending account
  • Vision coverage
  • Wellness programs and resources
  • Life insurance – employer paid
  • Short-term and long-term disability – employer paid
  • Paid Time Off
  • 10 paid holidays each year
  • Paid parental leave
  • Tuition reimbursement

Should you need reasonable accommodation when completing the application form or during the selection process, contact the Human Resources Department at 763-417-1700

Information provided on this application will be kept confidential and only be shared with those involved in the selection process.

Equal Opportunity Employer, including disabled and veterans.

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This organization participates in E-Verify. Please click the following links to view the Right To Work and E-Verify posters, available in both English and Spanish.