Procurement Lead

Mercury is building a complete finance stack for startups. We work hard to create the easiest and safest banking* experience possible to simplify entrepreneurs' and business owners’ financial lives. 

In order for Mercury to accomplish this mission, we have to ensure our business is running smoothly with an efficient, yet robust procurement process. That’s why we’re looking for a Procurement Lead to join our finance team! 

You will: 

• Proactively negotiate new agreements and manage renewals with vendors to drive cost reductions and improve contract terms.
• Analyze spend data to identify potential cost-saving opportunities 
• Oversee the procurement system to reduce costs, mitigate risks, improve spend compliance and establish best practices
• Assess vendor risk profiles based on existing third-party risk management policies and ensure adherence to regulatory and company standards. 
• Identify opportunities for automation and efficiency improvements, ensuring scalability and adaptability as the company grows.
• Establish new policies, processes, and templates for the procurement process, balancing controls with stakeholder experience 
• Manage RFP processes by collaborating with employees to understand business requirements and researching alternative solutions
• Collaborate with Finance, IT, Compliance, Legal and, employee stakeholders to ensure compliance with policies

You have:

• 5+ years of procurement/strategic sourcing experience, including contract negotiations of software
• Bachelors degree in business administration, supply chain management, IT systems, finance, accounting
• Proven track record in vendor negotiations, contract management, and cost-saving initiatives.
• Strong problem-solving and decision-making skills using first-principles thinking.
• Experience managing third-party risk and ensuring vendor compliance with regulatory requirements and internal policies
• Strong understanding of procurement best practices, including vendor evaluation, negotiation tactics, and spend analysis.
• Excellent communication and negotiation abilities.
• Familiarity with procurement software (ie. Zip, Coupa, SAP)

*Mercury is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Column N.A., and Evolve Bank & Trust, Members FDIC.

The total rewards package at Mercury includes base salary, equity (stock options), and benefits.

Our salary and equity ranges are highly competitive within the SaaS and fintech industry and are updated regularly using the most reliable compensation survey data for our industry. New hire offers are made based on a candidate’s experience, expertise, geographic location, and internal pay equity relative to peers.

Our target new hire base salary ranges for this role are the following:

• US employees in New York City, Los Angeles, Seattle, or the San Francisco Bay Area: $155,600 - 183,000
• US employees outside of New York City, Los Angeles, Seattle, or the San Francisco Bay Area: $140,000 - 164,700
• Canadian employees (any location): CAD 141,600 - 166,500

We use Covey as part of our hiring and / or promotional process for jobs in NYC and certain features may qualify it as an AEDT. As part of the evaluation process we provide Covey with job requirements and candidate submitted applications. We began using Covey Scout for Inbound on January 22, 2024. Please see the independent bias audit report covering our use of Covey here.

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