Procurement Strategist

Location:

Job Summary
The Procurement Strategist is an individual contributor role within Key's Corporate Procurement group. This position acts as a strategic and collaborative partner to assigned line of business (LOB) by developing and implementing procurement strategies that drive cost savings, meet business needs, and optimize Key's spend in that category.

Essential Functions

• Develop, implement and own procurement strategies for assigned areas that drive cost savings, meet business needs, and optimize Key's spend in that category.
• Provide innovative and strategic sourcing strategies that support the needs of the business and contribute to Procurement's overall savings target.
• Act as primary point of contact for Procurement with senior management of assigned LOB/assigned area.
• Conduct vendor negotiations and oversee administration of contracts with a focus on risk mitigation for Key.
• Maintain and grow relationships with both internal and external business partners.
• Monitor and manage contract renewal and expiration to ensure sufficient time for renegotiation, termination, etc.
• Adhere to internal policies and processes; identify and escalate material issues in a timely manner.
• Identify opportunities for continuous improvement across procurement practices.
• Performs other duties as assigned; duties, responsibilities and/or activities may change or new ones may be assigned at any time with or without notice
• Complies with all KeyBank policies and procedures, including without limitation, acting professionally at all times, conducting business ethically, avoiding conflicts of interest, and acting in the best interests of Key's clients and Key.

Education

• Bachelor's Degree or equivalent experience (preferred)
• Master's Degree in business administration or related field (preferred)

Work Experience

• 3+ years of relevant professional experience. (required)

Skills

• Developing and executing sourcing strategies tailored to specific spend categories to optimize value, reduce costs, and align with business goals.
• Using data to evaluate supplier performance, identify savings opportunities, and support decision-making through spend analysis and market intelligence.
• Understanding cost structures, budgeting, and financial modeling to assess supplier proposals and measure procurement's impact on the bottom line.
• Securing favorable terms and conditions with suppliers while maintaining strong, collaborative relationships.
• Building trust and alignment with internal clients, including senior leadership, to ensure procurement strategies meet business needs.
• Overseeing supplier relationships, performance, and compliance with contracts and service level agreements (SLAs).
• Managing the end-to-end process of contract creation, execution, renewal, and termination in collaboration with legal and risk teams.
• Identifying, assessing, and mitigating risks associated with external vendors, ensuring compliance with internal and regulatory standards.
• Continuously evaluating and enhancing procurement processes to increase efficiency, transparency, and value delivery.
• Proficiency in tools like Ariba, Coupa, or Workday to manage sourcing, contracts, and supplier data.
• Using platforms like Excel, Power BI, or Tableau to present procurement insights and track key performance indicators (KPIs).
• Applying critical thinking and structured approaches to resolve complex sourcing and operational challenges.
• Staying agile in a dynamic environment by embracing new technologies, trends, and evolving business needs.
• Incorporating environmental, social, and governance (ESG) principles into procurement decisions to support responsible sourcing.

Core Competencies

• All KeyBank employees are expected to demonstrate Key's Values and abide by Key's Code of Conduct.

Physical Demands

• General Office - Prolonged sitting, ability to communicate face to face in person or on the phone with teammates and clients, frequent use of PC/laptop, occasional lifting/pushing/pulling of backpacks, computer bags up to 10 lbs.

Travel

• Occasional travel to include overnight stay.

Work Location Category

• Hybrid (3+ days)

COMPENSATION AND BENEFITS

Please click here for a list of benefits for which this position is eligible.

Key has implemented an approach to employee workspaces which prioritizes in-office presence, while providing flexible options in circumstances where roles can be performed effectively in a mobile environment.

Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by emailing HR_Compliance@keybank.com.