Chief Procurement Officer

Role Overview

State Street is seeking a Chief Procurement Officer, Senior Vice President, to lead and reimagine the enterprise Source-to-Pay function as a strategic, insight-led capability that delivers sustainable commercial value, strengthens resilience and controls, and creates a simpler experience for the business and suppliers. Reporting to the EVP, Global Head of Strategic Finance, you will shape how the firm sources, contracts, buys and pays for third-party goods and services across its businesses and geographies.

You will bring together category management, strategic sourcing, contracting, procurement operations, supplier management, Accounts Payable and payments, supported by the technology and data platforms that enable the function. Your mandate is to deliver sustainable commercial value while maintaining strong controls, operational resilience and regulatory readiness.

This is a transformation mandate; an opportunity to modernize a global operating model and establish Procurement as a strategic, insight-led partner to the business. You will simplify processes, strengthen accountability and embed automation, artificial intelligence and advanced analytics across the Source-to-Pay lifecycle, working closely with senior business leaders, Finance, Legal, Risk, Compliance, Information Security and strategic suppliers.

What you will be responsible for:

• Set and execute global procurement strategy and a multi-year Source-to-Pay transformation roadmap across category management, sourcing, contracting, requisition-to-order and invoice-to-pay.
• Deliver validated savings, cost avoidance and value through competitive sourcing, demand management, supplier rationalization and total-cost-of-ownership analysis across technology and cloud, market data, professional services, operations, facilities, HR services, travel and contingent labor.
• Lead high-value negotiations and executive supplier relationships, partnering with Legal, Risk and Compliance on contractual protection, performance, innovation and resilience; maintain governed contract standards and visibility into obligations and renewals.
• Oversee procurement operations, Accounts Payable, vendor payments and employee reimbursements, improving service, working capital and supplier experience while maintaining approval, supplier-data, fraud-prevention and segregation-of-duties controls.
• Own procurement policies and standards, partnering with control functions on third-party risk, ethical sourcing, privacy, outsourcing requirements, critical-supplier resilience, concentration management, exit planning, audits, examinations and remediation.
• Own the technology and data roadmap across enterprise resource planning, procurement, contract lifecycle management and analytics; embed automation and AI to improve processing, preventive controls and decision-making.
• Oversee sustainable sourcing, supplier impact and development, including small and local businesses, relevant supply-chain obligations and reporting, contingent labor, travel and corporate card, market data operations, and managed-service arrangements.
• Lead and develop a high-performing global organization with clear accountability, succession coverage and a culture of collaboration, commercial discipline, service excellence, integrity and risk ownership.
• Secure business sponsorship for change and report transparently on spend, savings, supplier performance, risk, service and transformation progress.

What we are looking for

You are a commercially sophisticated, controls-oriented enterprise leader who combines executive presence with a hands-on understanding of operations, technology and transformation. You can influence senior stakeholders, challenge constructively and balance commercial ambition with disciplined execution in a complex, globally regulated institution.

Required Experience:

• 15+ years of progressive procurement or Source-to-Pay leadership, including senior accountability for enterprise category strategy, sourcing, contracting and procurement operations.
• Experience in a global systemically important bank or financial institution, or a comparably complex, highly regulated global organization, with strong knowledge of third-party risk, operational resilience, financial controls and regulatory expectations.
• A proven record of transforming procurement or Source-to-Pay at scale across processes, operating models, teams and technology, delivering measurable, well-governed outcomes.
• Leadership of multi-billion-dollar third-party spend across categories and geographies, with demonstrated savings, cost avoidance, demand management and total-cost-of-ownership improvements supported by rigorous benefit validation.
• Established executive relationships with major suppliers across technology and cloud, market data, and professional services or consulting, supported by strong commercial negotiation skills.
• Hands-on command of requisition-to-order, invoice processing, Accounts Payable, payments, approval authority and supplier-data controls.
• Experience selecting or implementing Source-to-Pay, contract lifecycle management, enterprise resource planning and analytics platforms, and applying automation and AI.
• A track record of building and leading global teams in matrixed organizations and engaging executive leadership, auditors, regulators and strategic external partners.
• Bachelor’s degree required.

Preferred Experience & Credentials:

• MBA or relevant advanced degree preferred; professional procurement or supply-chain certification such as CPSM, CIPS or MCIPS desirable.
• Experience with supplier impact and development, sustainable sourcing and relevant global supply-chain obligations.
• Experience with managed-service or outsourced processing models and, where applicable, procurement due diligence and integration for mergers and acquisitions.

Salary Range:

$225,000 - $337,500 Annual

The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.

Employees are eligible to participate in State Street’s comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans.

For a full overview, visit https://hrportal.ehr.com/statestreet/Home.

About State Street

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

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It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.