Procurement Business Controls and Compliance Specialist

Job title: Procurement Business Controls and Compliance Specialist

Company: Solventum


Job description: Thank you for your interest in working for our Company. Recruiting the right talent is crucial to our goals. On April 1, 2024, 3M Healthcare underwent a corporate spin-off leading to the creation of a new company named Solventum. We are still in the process of updating our Careers Page and applicant documents, which currently have 3M branding. Please bear with us. In the interim, our Privacy Policy here: https://www.solventum.com/en-us/home/legal/website-privacy-statement/applicant-privacy/ continues to apply to any personal information you submit, and the 3M-branded positions listed on our Careers Page are for Solventum positions. As it was with 3M, at Solventum all qualified applicants will receive consideration for employment without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.Job Description:Procurement Business Controls and Compliance Specialist (Solventum)3M Health Care is now SolventumAt Solventum, we enable better, smarter, safer healthcare to improve lives. As a new company with a long legacy of creating breakthrough solutions for our customers’ toughest challenges, we pioneer game-changing innovations at the intersection of health, material and data science that change patients’ lives for the better while enabling healthcare professionals to perform at their best. Because people, and their wellbeing, are at the heart of every scientific advancement we pursue.We partner closely with the brightest minds in healthcare to ensure that every solution we create melds the latest technology with compassion and empathy. Because at Solventum, we never stop solving for you.The Impact You’ll Make in this RoleThe Procurement Business Controls and Compliance Specialist is responsible for overseeing and ensuring that the sourcing and procurement activities align with the company’s sustainability, ethical, and compliance standards. This role requires experience in the healthcare supply chain, a thorough understanding of sustainable practices, and familiarity with Sarbanes-Oxley (SOX) controls. The ideal candidate will support the company’s mission to source materials and services responsibly, while maintaining compliance with industry regulations and ensuring high-quality healthcare products and services. The employee works independently and consults with stakeholders, cross-functional co-workers and the supervisor for assistance.You will have the opportunity to tap into your curiosity and collaborate with some of the most innovative and diverse people around the world. Here, you will make an impact by:

• Design and implement SOX controls within the healthcare procurement process to ensure compliance with regulatory requirements.
• Ensure all procurement activities, including documentation and records, 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, ensuring alignment with healthcare-specific standards.
• Identify and assess risks in the healthcare supply chain, including ethical, environmental, and SOX compliance issues, as well as risks specific to healthcare materials and services.
• Develop risk mitigation strategies to address potential non-compliance issues, with a focus on maintaining high standards for 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 such as procurement, finance, operations, compliance, and legal to ensure alignment on responsible sourcing and SOX compliance within the healthcare context.
• Engage with external stakeholders, including regulatory bodies, certification organizations, and industry groups, to stay informed on best practices, emerging trends, and regulatory changes in the healthcare industry.
• Communicate responsible sourcing goals and SOX compliance progress to internal and external stakeholders, highlighting the impact on healthcare quality and patient outcomes.
• Collect and analyze data on sourcing activities, supplier compliance, sustainability metrics, and SOX controls, with a focus on healthcare-specific requirements.
• Prepare regular reports on responsible sourcing performance, healthcare industry compliance, and SOX adherence, identifying achievements and areas for improvement.
• Ensure documentation related to sourcing decisions, contracts, and approvals meets SOX requirements for recordkeeping and audit readiness, with a focus on healthcare industry regulations.
• Educate and train procurement and sourcing teams on responsible sourcing policies, healthcare industry regulations, SOX compliance, and best practices.
• Develop resources and tools to support ongoing learning and adherence to responsible sourcing standards, healthcare regulations, and SOX controls.

Your Skills and ExpertiseTo set you up for success in this role from day one, Solventum requires (at a minimum) the following qualifications:Bachelor’s degree or higher and (7) seven minimum of years of combined procurement, logistics, supply chain experience in a private, public, government, or military environment.ORHigh School Diploma/GED and a (12) twelve minimum of years of combined procurement, logistics, supply chain, experience in a private, public, government, or military environment.ANDExperience with ESG principles, sourcing practices, SOX regulations, and compliance standards.Additional qualifications that could help you succeed even further in this role include:

• 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, or other quality management systems for healthcare products.
• Familiarity with healthcare supply chain auditing processes and SOX frameworks.
• 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.
• Passion for sustainability, ethical sourcing, and improving healthcare outcomes through responsible procurement practices.
• Certifications such as Certified Professional in Supply Management (CPSM), Certified Sarbanes-Oxley Professional (CSOXP), or healthcare-specific certifications like Certified Healthcare Supply Chain Professional (CHSCP), are advantageous.

Work location: Hybrid-United StatesTravel: May include up to 10% [domestic/international]Must be legally authorized to work in country of employment without sponsorship for employment visa status (e.g., H1B status).Supporting Your Well-beingSolventum offers many programs to help you live your best life – both physically and financially. To ensure competitive pay and benefits, Solventum regularly benchmarks with other companies that are comparable in size and scope.Applicable to US Applicants Only:The expected compensation range for this position is $137,439 – $167,981, which includes base pay plus variable incentive pay, if eligible. This range represents a good faith estimate for this position. The specific compensation offered to a candidate may vary based on factors including, but not limited to, the candidate’s relevant knowledge, training, skills, work location, and/or experience. In addition, this position may be eligible for a range of benefits (e.g., Medical, Dental & Vision, Health Savings Accounts, Health Care & Dependent Care Flexible Spending Accounts, Disability Benefits, Life Insurance, Voluntary Benefits, Paid Absences and Retirement Benefits, etc.). Additional information is available at: https://www.solventum.com/en-us/home/our-company/careers/#Total-RewardsResponsibilities of this position include that corporate policies, procedures and security standards are complied with while performing assigned duties.Solventum is committed to maintaining the highest standards of integrity and professionalism in our recruitment process. Applicants must remain alert to fraudulent job postings and recruitment schemes that falsely claim to represent Solventum and seek to exploit job seekers.Please note that all email communications from Solventum regarding job opportunities with the company will be from an email with a domain of @solventum.com. Be wary of unsolicited emails or messages regarding Solventum job opportunities from emails with other email domains.Solventum is an equal opportunity employer. Solventum will not discriminate against any applicant for employment on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, or veteran status.Please note: your application may not be considered if you do not provide your education and work history, either by: 1) uploading a resume, or 2) entering the information into the application fields directly.Solventum Global Terms of Use and Privacy StatementCarefully read these Terms of Use before using this website. Your access to and use of this website and application for a job at Solventum are conditioned on your acceptance and compliance with these terms.Please access the linked document by clicking select the country where you are applying for employment, and review. Before submitting your application you will be asked to confirm your agreement with the
terms.

Expected salary: $137439 – 167981 per year

Location: Maplewood, MN

Job date: Sun, 20 Oct 2024 07:11:04 GMT

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