Formula One Jobs in Buffalo Grove, IL (NOW HIRING)

Job DescriptionJob Title: Procurement DirectorLocation: Remote (Must live within a 25-mile radius of a venue)Reporting to: Chief Financial OfficerRole OverviewThe Procurement Director is responsible for leading the strategic sourcing, supplier management, commercial optimization, and procurement transformation agenda across F1® Arcade globally.The role will develop and implement a procurement function that delivers measurable value through cost optimization, supplier innovation, risk management, governance, and operational excellence across all markets.As F1® Arcade continues its international expansion, the Procurement Director will establish scalable procurement frameworks, category strategies, supplier governance models, and sourcing processes that support growth while maximizing commercial value and mitigating risk.A key component of the role will be driving procurement maturity across the business, embedding category management disciplines, enhancing supplier performance management, improving spend visibility, and positioning procurement as a strategic business partner across the organization.Reporting to the Chief Financial Officer, the role will work closely with Executive Leadership, Operations, Finance, Development, Legal, Technology, Marketing, and People teams to ensure procurement strategies support F1® Arcade's growth ambitions and long-term business objectives.Key Areas of ResponsibilityGlobal Category Strategy & LeadershipDevelop and implement global category strategies across all major spendEstablish and lead a structured category management framework, including spend analysis, supplier segmentation, sourcing pipelines, risk assessment, and performance measurement.Build a multi-year procurement and sourcing roadmap aligned to F1® Arcade's global growth Identify opportunities for supplier consolidation, demand management, cost optimization, and service improvement across all Leverage market intelligence and industry trends to deliver innovation, competitive advantage, and enhanced supplier value.Ensure procurement activities and supplier agreements align with Formula 1 licensing requirements, strategic partner obligations, brand standards, and contractual commitments.Procurement Transformation & GovernanceEstablish best-practice procurement processes, governance frameworks, policies, andImplement category management methodologies, supplier relationship management programs, and contract lifecycle management Drive adoption of procurement technologies, spend analytics tools, reporting capabilities, and sourcingImprove procurement visibility, compliance, commercial discipline, and decision-making across the Develop and maintain procurement policies and procedures that support a scalable global operating Strategic Sourcing & Commercial LeadershipLead complex sourcing initiatives, supplier selection exercises, and commercial negotiations for strategic and high-value spend Deliver measurable cost savings, cost avoidance, working capital improvements, and value creation Negotiate and implement robust commercial agreements, service level agreements, performance frameworks, and risk mitigation Ensure contractual arrangements support operational requirements, scalability, compliance, and long-term business Supplier Relationship ManagementDevelop and manage strategic supplier partnerships across global Establish supplier governance frameworks including performance scorecards, quarterly business reviews, executive supplier forums, and innovationCollaborate with suppliers to drive continuous improvement, innovation, sustainability, and enhanced customer experiences.Monitor supplier performance, financial stability, compliance, and business continuity Create a supplier ecosystem capable of supporting rapid international growth and operational Partner with Commercial, Marketing, and Legal teams to ensure suppliers support the delivery of Formula 1 partner activations, sponsorship commitments, and licensed brand requirements across all New Venue DevelopmentPartner with Development and Construction teams to support global venue expansionLead sourcing strategies and supplier selection for construction, fit-out, FF&E, technology infrastructure, and operational readiness Ensure procurement activities support project timelines, budget objectives, and quality Develop scalable supplier partnerships capable of supporting multi-region expansion Stakeholder Engagement & Business PartnershipAct as a trusted commercial advisor to the Executive Leadership Team and seniorPartner with Finance, Legal, Operations, Marketing, Technology, Development, and People teams to develop sourcing strategies and commercialSupport business cases, investment decisions, and strategic initiatives through commercial analysis and procurement Promote procurement as a strategic business partner that drives value beyond traditional cost Build a culture of commercial accountability, supplier governance, and value-driven decision-making throughout the Define performance metrics and objectives that align procurement outcomes with businessCollaborate closely with Commercial, Marketing, and Legal teams to embed Formula 1 partner obligations, sponsorship requirements, and brand standards into sourcing strategies, supplier selection, and contract Skills RequiredExperience10+ years of value-driven procurement and strategic sourcing experience within a complex, multi-site, international Significant experience developing and implementing category strategies across multiple spend Proven success leading procurement transformation and maturity improvement Demonstrated experience delivering substantial cost savings, supplier optimization, and value creation Strong commercial negotiation, contract management, and supplier governanceExperience supporting high growth, multi-location businesses, ideally within hospitality, leisure, entertainment, retail, or consumer-facing sectors.Exceptional stakeholder management skills with experience influencing senior executives and board-level DesirableBachelor's degree in supply chain management, Business, Finance, or relatedMCIPS, CIPS, CPSM, ISM, or equivalent professional procurementExperience supporting international expansion and development Experience within hospitality, entertainment, experiential brands, or food and beverage Experience operating within privately backed or rapidly scaling Success MeasuresDelivery of measurable cost savings, cost avoidance, and value creation across managed Successful implementation of category strategies aligned to businessImproved procurement governance, compliance, and spend Strong supplier performance, innovation outcomes, and service Procurement recognized as a strategic business partner by seniorSuccessful support of new venue openings delivered on time and withinIncreased supplier consolidation and commercial leverage across the USSuccessful delivery of procurement strategies that consistently support Formula 1 licensing requirements, partner commitments, and brand compliance across all markets.Key CompetenciesStrategic Procurement LeadershipCategory Management ExcellenceProcurement TransformationCommercial Negotiation & ContractingSupplier Relationship ManagementTravel & Work RequirementsAbility to travel globally up to 70% of the Financial & Commercial AcumenData-Driven Decision MakingRisk Management & GovernanceExecutive Stakeholder ManagementAbility to work a minimum of 40 hours per week, with flexibility to support global business operations across multiple time Ability to consistently demonstrate F1® Arcade Core Values;Pursuit of Excellence Positive Energy IntegrityTeam Spirit  Basic Physical RequirementsWhen working at an F1® Arcade venue, Team Members must be able to perform the duties of that venue. The team member will frequently sit for short periods of time, talk via Cloud Based video conferencing and the phone often, and hear and manipulate objects constantly.Additional requirements will include lifting up to 10 (ten) pounds constantly and up to 50 (fifty) pounds as required. Lifting from floor to shoulder constantly and overhead infrequently. Twisting and reaching frequently. Grasping objects to move or manipulate constantly. Working in hot then cold environments for extended periods of time. Will stand and walk for extended periods of time. Frequent hand washing and sanitation is required. Ability to use knives, slicing equipment, and other food preparation equipment. Team Member must be able to communicate with Guests and other Team Members and manipulate handheld and desktop devices.F1® Arcade is an equal opportunity employer. All applicants will be considered for employment without attention to race color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.