Procurement Business Controls and Compliance Specialist

$137,439 - $167,981/Yr

Solventum Konsult Ab - Saint Paul, MN

Full-time - Mid Level

Hybrid - Saint Paul, MN

About the position

The Procurement Business Controls and Compliance Specialist at Solventum is responsible for overseeing sourcing and procurement activities to ensure alignment with sustainability, ethical, and compliance standards. This role requires expertise in the healthcare supply chain, sustainable practices, and Sarbanes-Oxley (SOX) controls, supporting the company's mission to source materials responsibly while maintaining compliance with industry regulations.

Responsibilities

• Design and implement SOX controls within the healthcare procurement process to ensure compliance with regulatory requirements.
• Ensure all procurement activities comply with SOX and healthcare industry regulations, focusing on supplier selection, contract management, and purchase approvals.
• Conduct regular reviews and audits to validate SOX control effectiveness, identifying and addressing compliance gaps specific to the healthcare sector.
• Collaborate with internal audit, compliance, and finance teams to support SOX testing, reporting, and remediation efforts.
• Identify and assess risks in the healthcare supply chain, including ethical, environmental, and SOX compliance issues.
• Develop risk mitigation strategies to address potential non-compliance issues, focusing on patient safety and healthcare product quality.
• Stay updated on healthcare industry regulations, global regulatory changes, and SOX standards impacting responsible sourcing.
• Work closely with internal departments to ensure alignment on responsible sourcing and SOX compliance.
• Engage with external stakeholders to stay informed on best practices and regulatory changes in the healthcare industry.
• Communicate responsible sourcing goals and SOX compliance progress to stakeholders, highlighting the impact on healthcare quality.
• Collect and analyze data on sourcing activities, supplier compliance, sustainability metrics, and SOX controls.
• Prepare regular reports on responsible sourcing performance, healthcare industry compliance, and SOX adherence.
• Ensure documentation related to sourcing decisions meets SOX requirements for recordkeeping and audit readiness.
• Educate and train procurement and sourcing teams on responsible sourcing policies and SOX compliance.

Requirements

• Bachelor's degree or higher and a minimum of 7 years of combined procurement, logistics, supply chain experience in a relevant environment, OR a High School Diploma/GED and a minimum of 12 years of combined experience.
• Experience with ESG principles, sourcing practices, SOX regulations, and compliance standards.

Nice-to-haves

• Excellent negotiation, communication, and relationship-building skills.
• Proficiency in data analysis, sourcing, or procurement software, and familiarity with SOX documentation and healthcare regulatory requirements.
• Ability to work independently and manage multiple projects simultaneously.
• Experience with healthcare-specific industry standards and certifications, such as ISO.
• Familiarity with healthcare supply chain auditing processes and SOX frameworks.
• Passion for sustainability and ethical sourcing.
• Certifications such as CPSM, CSOXP, or CHSCP.

Benefits

• Medical, Dental & Vision insurance
• Health Savings Accounts
• Health Care & Dependent Care Flexible Spending Accounts
• Disability Benefits
• Life Insurance
• Voluntary Benefits
• Paid Absences
• Retirement Benefits