The Procurement Operations Finance Lead position is focused on payment optimization for Cigna's indirect suppliers.
This position will design and execute strategies to maximize Cigna's outgoing cash flow to suppliers via Supply Chain Financing, Credit Card, Net Payment Term solutions.
Additionally this position will support Global Procurement/Third Party Management (GPTPM) Operations overall objective of increasing compliant spend with indirect suppliers. This will involve identifying suppliers paid in non-compliant methods and transition to preferred payment vehicles.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Design and lead payment optimization efforts focusing on retaining cash and working with the treasurer on investment options.
Assist with the implementation of the PCard (Credit Card) indirect supplier spend program in Ariba
Educating targeted suppliers (high dollar/high volume) to transition to Ariba payment methods and terms
Analyze contracted payment terms to enforce negotiated payment periods
Develop strategy and language around discounts and rebates for early pay commitments.
Assisting with Cigna's transition to one payment approval authority (SOA)
Present optimization strategies to Sr. Leadership (Treasury, Chief Procurement Officer, Chief Accounting Officer)
This role is critical because of the:
Impact on lowering operating cost expenditures (bottom line P&L)
Contract Overpayment Oversight ($50M)
Cash flow optimization for capital redeployment
Drive operational efficiency aligned to indirect supplier contract terms
Executes with minimal guidance and shows strong initiative.
Works with Operations Director to determine what resources/skills are needed (e.g., accounts payable, legal, category managers, IT) and brings them in as necessary.
Uses data and metrics to pinpoint problem areas and communicates/coordinates resolution activities.
Maintains regular communication with over operations organization on findings, milestones, and objectives
Bachelor's Degree in Business, Computer Science or Information Systems preferred.
Broad knowledge of spend management strategies and/or procurement, sourcing, category management, vendor performance management.
Demonstrated ability to successfully manage large projects is a plus.
Strong analytical and organizational talent
Proficiency with Microsoft Word, Excel, PowerPoint, and Access required
Excellent written, verbal, and presentation skills.
Qualified applicants will be considered without regard to race, color, age, disability, sex, childbirth (including pregnancy) or related medical conditions including but not limited to lactation, sexual orientation, gender identity or expression, veteran or military status, religion, national origin, ancestry, marital or familial status, genetic information, status with regard to public assistance, citizenship status or any other characteristic protected by applicable equal employment opportunity laws.
If you require an accommodation based on your physical or mental disability please email: SeeYourself@cigna.com. Do not email SeeYourself@cigna.com for an update on your application or to provide your resume as you will not receive a response.