ELIZABETH SIGAL
Naperville,IL
Summary
Skilled Executive Leader with 20+ years of experience in strategic sourcing, planning and partnerships in the financial services and market data sectors. Adept at providing strategic vision and optimizing operations across organizations to drive cost savings and efficiencies. Highly skilled at leading vendor negotiations and partnership arrangements with a demonstrated track record of accomplishment. Goal-oriented and team-focused with a history of effectively combining creativity, analytical and interpersonal skills to address challenges and act as a catalyst for change.
Overview
24
24
years of professional experience
Work History
Senior Vice President, Global Procurement
Northern Trust Corporation
03.2021 - Current
- Strategically manage over $1billion in spend globally and a team of 20 across Technology and Facilities Categories, producing $50M+ annually in cost savings and efficiencies.
- Hired and managed employees to maximize productivity while training staff on best practices and protocols.
- Led restructuring of Procurement department to reduce overhead and maximize operational efficiency.
- Identified opportunities to improve business process flows and productivity with implementation of Source to Pay technology coupled with strategic category realignment, reorganization and stakeholder change management.
- Secured vital partnerships with industry leaders, enhancing company reputation and expanding market reach.
- Led negotiations with Microsoft and Amazon to support cloud modernization strategy, yielding over $10M in savings and credits above initially negotiated pricing and achieved enhanced contractual provisions to support risk mitigation objectives.
- Consolidated $40M+ relationship with FIS, achieving 10M+ in cost savings/avoidance, updated contracts with price protection, discounted professional services rates and enhanced regulatory and compliance provisions.
- Established rebate program and catalog with software and hardware resellers to drive cost savings and supplier rationalization objectives.
- Managed $100M audit-related negotiation, working in parallel with legal and business unit CIOs to reach acceptable resolution aligned with full exit strategies.
- Cultivated relationships with C-suite executives and senior leaders to understand strategic objectives to ensure alignment with procurement objectives and foster continuous improvement.
- Created performance- and merit-based evaluation system to assess staff performance.
- Created succession plans to provide continuity of operations during leadership transitions.
- Collaborated with executive leadership team members on long-term strategic planning that ensured sustainable success.
- Implemented comprehensive risk management frameworks, mitigating potential threats to the business and ensuring long-term stability.
- Collaborated with legal, accounting and other professional teams to review and maintain compliance with regulators and audits.
- Represented organization at industry conferences and events.
Senior Manager, Global Procurement & Sourcing
Discover Financial Services
03.2019 - 03.2021
- Responsible for managing and controlling over $700M in spend by implementing best in class sourcing to reduce overall cost of ownership and to facilitate expedient achievement of business objectives.
- Established strong relationships with key stakeholders and finance to create and implement sourcing strategies that maximize value of supplier spending across the enterprise.
- Built and established category roadmap to identify opportunities for consolidation, demand management and spend reduction.
- Negotiated complex strategic partnerships and supplier engagements to attain optimal pricing, terms and service-level agreements to drive profitability and cost reduction.
- Mentored junior staff members for skill development and career progression within the organization.
- Established savings targets that aligned with business and operational goals.
- Developed and executed sourcing strategies to meet and exceed targets.
- Conducted performance evaluations, compensation reviews, and hiring to maintain appropriate staffing requirements.
- Assisted in organizing and overseeing assignments to drive operational excellence.
- Ensured compliance with regulatory, risk, security and legal requirements and supported supplier diversity initiatives.
Category Manager, Credit Decisions
Discover Financial Services
03.2019 - 06.2020
- Established and implemented sourcing strategy for $300M spend across Credit Decisions business unit
- Performed spend analysis, market analysis and benchmarking to refine vendor strategy and enhance negotiating leverage
- Monitored industry trends to identify new business opportunities and emerging product categories for expansion.
- Established relationships with Credit Bureaus and Fraud and Authentication suppliers to institute process efficiencies and to obtain beneficial insights and information that aid in negotiation.
Head of Strategic Sourcing and Procurement
Dealogic
01.2016 - 01.2018
- Architected, implemented and evolved global sourcing and vendor management strategy and procurement roadmap
- Drove adoption of best-in-class sourcing, contract management and spend processes
- Evaluated potential suppliers and negotiated favorable economics, business terms and service levels
- Monitored company policies and regulatory compliance for Anti-Bribery, Corruption Policy and General Data Protection Regulation
- Built strategic alliances with and managed global business leaders and key stakeholders to drive category spend initiatives dropping recruitment cost by 20%+
- Organized existing complex vendor programs and persuasively communicated global category spend strategies generating over 15% in annual savings by leveraging strategic portfolio relationships
- Launched company-wide global business travel and company credit card program, yielding nearly 15% in annual savings
- Led global spend evaluations and vendor performance benchmarking driving 20% savings in IT category and improving service levels.
Head of Strategic Partnerships and Alliances
Dealogic
01.2015 - 01.2016
- Identified growth opportunities through partnerships, joint ventures and acquisitions
- Managed relationships with third-party data vendors
- Facilitated organic development of new products
- Prioritized and vetted alliance and strategic sales opportunities
- Engaged with prospective partners and vendors and negotiated agreement terms and conditions, economics and service level agreements
- Led senior leadership team through due diligence process for acquisition of A2 Access, LLC spearheading vendor integration and reducing spend 20%
- Partnered with internal business leads to develop business cases and facilitated establishment of two successful product lines.
Global Director, Business Planning and Strategy, Divisional CFO
Dealogic
01.2007 - 01.2014
- Managed business planning and finance for four operating units
- Oversaw product strategy and annual budgeting process
- Established accurate revenue projections and cost alignment with strategic initiatives
- Performed due diligence for acquisition and strategic alliances
- Analyzed competitive landscape and identified threats and challenges
- Validated structural changes and new business initiatives
- Directed recruitment, compensation and relocation programs
- Negotiated and managed third-party data suppliers, reducing spend by over 10%
- Facilitated data entry automation through relationships with 3rd party providers, producing over 30% efficiency improvements
- Created and implemented several firm-wide policies and procedures: overtime policy and associated compensation, after hours client support model and client on-boarding.
Global Director, Investment Banking Strategy
Dealogic
05.2002 - 06.2007
- Oversaw creation and industry-wide deployment of Investment Banking Strategy Platform and identified new opportunities for business growth.
- Oversaw global product development and partner relationships, enabling footprint expansion into new markets.
- Managed cross-functional teams to achieve project milestones within budget and on time.
- Hired, managed and developed global team of twelve client managers
- Drove product adoption, implementation and growth by working closely with software development, IT and client technology teams
- Cultivated relationships with C-level investment banking professionals
- Facilitated growth of business from inception to $10m in revenue within 3 years
- Authored Best Practices for Client Targeting white paper for Business Planning and Strategy Groups within top global investment banks
- Created investment banking revenue analysis for adoption as industry standard in Wall Street Journal and Financial Times.
Investment Banking, Healthcare Group
JPMorgan Chase & Co
06.2000 - 06.2001
- Performed financial valuations utilizing discounted cash flow analysis, trading and transaction multiples, accretion-dilution analysis and financial modeling for mergers and acquisitions, equity offerings and private placement funding.
- Conducted sensitivity analyses on potential investments to assess various scenarios' impact on projected returns and risk profiles.
Education
Bachelor of Arts - Economics and Psychology (Cum Laude) -
Duke University
Durham, NC05.2000
Skills
- Strategic Sourcing and Planning
- Operational Excellence
- KPI Tracking
- Digital Transformation
- Partnership Development
- Contract Negotiation
- Strategic leadership
- Stakeholder Management
- Recruiting and Hiring
- Regulatory Compliance
- Risk Management
Timeline
Senior Vice President, Global Procurement
Northern Trust Corporation
03.2021 - Current
Senior Manager, Global Procurement & Sourcing
Discover Financial Services
03.2019 - 03.2021
Category Manager, Credit Decisions
Discover Financial Services
03.2019 - 06.2020
Head of Strategic Sourcing and Procurement
Dealogic
01.2016 - 01.2018
Head of Strategic Partnerships and Alliances
Dealogic
01.2015 - 01.2016
Global Director, Business Planning and Strategy, Divisional CFO
Dealogic
01.2007 - 01.2014
Global Director, Investment Banking Strategy
Dealogic
05.2002 - 06.2007
Investment Banking, Healthcare Group
JPMorgan Chase & Co
06.2000 - 06.2001
Bachelor of Arts - Economics and Psychology (Cum Laude) -
Duke University
Similar Profiles
Pamela BurnsPamela Burns
Senior Vice President, Control/Audit/Risk, Global Fund Services at Northern Trust CorporationSenior Vice President, Control/Audit/Risk, Global Fund Services at Northern Trust Corporation
Shradha ManeShradha Mane
HR Advisor at Northern Trust CorporationHR Advisor at Northern Trust Corporation
Suji MuthupandianSuji Muthupandian
Senior Software Analyst at Northern Trust CorporationSenior Software Analyst at Northern Trust Corporation
Swetha KrishnanSwetha Krishnan
Project/Program Manager at Point B / Northern Trust CorporationProject/Program Manager at Point B / Northern Trust Corporation
Ella ThomsenElla Thomsen
Lifeguard Supervisor at Fry Family YMCALifeguard Supervisor at Fry Family YMCA