Procurement Specialist (Buyer) at Morningstar
The Team: The Corporate team unites a variety of functions at Morningstar, including design, marketing, corporate communications, finance, quality, human resources, legal, compliance, and strategic planning with the goal of keeping our business running smoothly. Each of these functions plays an essential role in supporting our company’s infrastructure, day-to-day operations, and strategic initiatives.
The Role: The Procurement team, which sits within the Finance organization, is responsible for sourcing and purchasing of Morningstar’s indirect and direct spend. This role will work across multiple categories of spend including marketing, data, professional services, technology, and travel. It reports directly to our head of Procurement, with dotted lines to the Procurement Managers and/or other Finance leaders.
• Process purchase requisitions, approvals, purchase orders, and invoices for select purchases. Obtain competitive pricing from suppliers and negotiate pricing and terms.
• Support Procurement Managers with analyzing category spend, finding savings/consolidation opportunities, evaluating supplier risk/opportunities, and analyzing contract compliance.
• Participate in sourcing events by researching suppliers, drafting Requests for Proposals (RFPs), analyzing responses, supporting negotiations, and supporting consensus building.
• Participate in change management efforts to increase our spend under management and percent of pre-spend approval (spend on purchase orders).
• Work with suppliers to enable them on our Procure to Pay (P2P) tool and to build out item catalogs in the tool.
• Identify opportunities to improve the efficiency, reporting capabilities, and consultative approach of the procurement team.
• A bachelor’s degree in Engineering, Finance, Accounting, or similar and 3-5 years of work is required.
• Demonstrates understanding of accounting systems and purchase coding.
• Possesses strong analytical and financial analysis skills to research and evaluate procurement options.
• Proficiency in Excel strongly preferred (in some cases, analyzing large data sets using functions like VLOOKUP, PivotTables, and similar).