Director of Procurement

Novo is a venture-backed fintech that simplifies banking for small businesses. Since our initial beta launch in Fall 2018, we’ve expanded our offerings from free checking accounts and debit cards to lending products, business tools (invoices, bookkeeping, and more), and integrations.

Today, Novo is a powerfully simple banking platform that serves over 250,000 small businesses. In addition to providing smart tools built for entrepreneurs to better run and grow their businesses, Novo has processed billions in transactions in partnership with a number of established banking partners.

In April 2025, Novo brought onboard a new CEO and Chief Commercial Officer and is rapidly embarking on an exciting chapter, shaped by a new executive team. This is a rare opportunity for entrepreneurial builders to join in on the ground floor alongside a best-in-class leadership team that’s shaping the culture and strategic direction for Novo’s future.

Our vision is to be the go-to-platform serving small businesses – from launch to everyday – so business owners can focus on growing, while Novo streamlines their finances and operations. We’d like to look back 5-10 years from now and know that we helped new generations of small businesses succeed because of the work we did at Novo.

Novo is backed by leading investors including Stripes, Valar Ventures, Crosslink Capital, Notable Capital (formerly GGV), and many more. Learn more about us at https://www.novo.co.

About the Role: 

Novo is seeking a highly strategic and results-oriented Director of Procurement to lead our global procurement function. This critical role, reporting directly to the Chief Commercial Officer, will be responsible for developing and executing procurement strategies that drive significant value, optimize spend, mitigate risk, and ensure the efficient acquisition of goods and services across the organization. The ideal candidate will be a leader with a proven track record of implementing best-in-class procurement practices, and fostering strong, collaborative relationships with internal stakeholders and external vendors and partners.

You will play a pivotal role in shaping our operational efficiency and financial health, directly impacting our ability to innovate and scale within the fast-evolving fintech industry. This is an opportunity to build, transform, and lead a function that is central to Novo's continued growth and success.

Responsibilities: 

• Strategic Sourcing & Category Management:

  • Develop and implement comprehensive procurement strategies aligned with business objectives, focusing on cost reduction, quality improvement, and supply chain resilience.

  • Lead procurement and vendor relationships initiatives across various categories, including but not limited to:

    • Technology & Software: Cloud services, SaaS platforms, cybersecurity tools, development software

    • Information Services: Credit bureaus, data providers, analytics platforms

    • Strategic Fintech Partners: Partner banks, payment processors, banking-as-a-service providers, lending platforms, and other critical ecosystem partners

    • Professional Services: Legal, consulting, audit, marketing agencies.

    • General Corporate Services: Facilities, HR, travel

• Vendor Relationship Management:

  • Ensure that vendors are paid on time and that any renewals are flagged appropriately for cross-functional stakeholders well in advance of renewal dates.

  • Ensure high performance and compliance with key vendors and supplier terms.

• Process Optimization & Technology:

  • Drive the continuous improvement of procurement processes, policies, and systems to enhance efficiency, transparency, and compliance, and to ensure that we are managing risks, particularly around third-party risk management, in a regulated environment.

  • Evaluate and implement procurement technologies (e.g., e-procurement, spend analytics tools, contract lifecycle management systems) to automate processes and improve decision-making.

  • Ensure compliance with all relevant financial regulations, internal policies, and ethical standards.

• Stakeholder Collaboration:

  • Partner closely with internal stakeholders across all departments (Finance, Legal, Engineering, Product, Risk, Compliance, HR) to understand their needs and ensure procurement strategies support their objectives.

  • Act as a trusted advisor on procurement best practices, market insights, and third-party risk management within the fintech sector.

• Risk Management:

  • Identify and mitigate supply chain and third-party risks, including operational, financial, regulatory, and cybersecurity risks.

Requirements for the Role: 

• Experience:

  • 10+ years of progressive experience in procurement, strategic sourcing, or supply chain management

  • Attention to detail and operational excellence in overseeing vendor and procurement / supply chain processes for software / technology businesses.

  • Proven track record of delivering significant cost savings and value creation through strategic procurement initiatives.

  • Demonstrated experience managing procurement of information services, technology infrastructure, and strategic partnerships within a regulated industry.

  • Direct experience working in a fast-paced, high-growth fintech, financial services, or technology environment is highly preferred.

• Skills:

  • Deep expertise in procurement best practices, complex contract negotiation, and strategic supplier relationship management, particularly with fintech vendors and data providers.Excellent leadership, communication, and interpersonal skills, with the ability to influence and collaborate effectively across all levels of the organization.

  • Proficiency with procurement software and enterprise resource planning (ERP) systems.

  • Demonstrated ability to manage multiple projects simultaneously and prioritize effectively in a dynamic environment.

  • Familiarity with regulatory compliance requirements relevant to fintech (e.g., data privacy, cybersecurity frameworks, third-party risk management).

• Attributes:

  • Strategic thinker with a hands-on approach.

  • Demonstrated track record and desire to roll up his/her sleeves to be a “do-er” in an entrepreneurial environment where driving results with urgency matters and where the expectation is that leaders dive into the work first-hand.

  • Proactive, self-motivated, and able to work independently and as part of a team.

  • High ethical standards and a commitment to transparency and integrity.

  • Adaptable and resilient in a dynamic business environment.

  Success Metrics

  • Reduce Novo procurement spend by leveraging strategic pricing as well as a strong knowledge of market comparables for both new deals and renewals

  • Track and decrease average onboarding time for new vendors

  • Drive high internal satisfaction with Novo cross-functional stakeholders across all relevant departments

Salary Range (NYC): $ 160,000 - $ 175,000 annualized salary. This range is not inclusive of discretionary bonus or equity package, offers to be determined based on experience, education and skill set. The range for this same position may be lower or higher in markets outside of New York City.