Manager, Strategic Sourcing

Responsibilities:

• Ownership of the assigned engagement, including but not limited to establishing / managing/ negotiating/leading executing contractual agreements, vendor onboarding & due diligence process throughout the vendor lifecycle.
• Lead end-to-end sourcing activities for assigned categories, including RFPs, vendor selection, and contract negotiations.
• Draft, review, and manage complex contracts, ensuring alignment with other areas such as legal, IT, and risk.
• Conduct spend analysis and identify cost-saving opportunities.
• Conduct analyses of existing vendor base to assess capability of meeting business objectives; balancing vendor concentration risks with vendor consolidation strategies.
• Maintain supplier master data and oversee contract lifecycle management
• Recommend/Develop and implement processes and tools for different types of contracts, risk assessments, disputes, and issue resolutions.
• Provide subject matter expertise and guidance to internal stakeholders on sourcing best practices.
• Supervise management and administration for a wide variety of contracts.
• Advise on the practices and considerations for upgrading existing contracts and solving complex contract management problems.
• Support accountable executives in the vendor performance management and evaluate operational issues and considerations in contract enforcement.
• Deliver on Strategic Sourcing Strategy, increase Strategic Sourcing brand awareness.
• Leading major contract negotiations, strategic sourcing activities, cross functional projects, risk and relationship management, and savings initiatives.
• Implement sound financial planning that is aligned with the corporate plan.
• Contribute to development & continues improvement of policies, guidelines & tools.
• Spearheading best practices for sourcing of new waves of technology and initiating strategies to boost suppliers’ technology innovation.
• Applying expert skills in data analytics, market research, sourcing, relationship and contract management.
• Manage vendor onboarding, due diligence, performance evaluations and relationships.
• Ensure the success and oversee the effectiveness of the vendor management program across the Bank by implementing common standards and practices.
• Design and implement supplier performance scorecards for vendor assessment in contract management, financial management, performance management, risk management and relationship management areas.
• Collaborate with business units to ensure vendor performance aligns with service level agreements and business expectations.
• Lead cross functional teams by effectively manage relationships with 1st and 2nd line business partners involved in management and oversight of service providers.
• Support development and implementation of relevant policies, standards, directives, frameworks, and requirements relating to management of third parties.
• Conduct contract reviews and due diligence activities to ensure contracts and renewals incorporate business and regulatory requirements.
• Ensure that third-party risks are appropriately identified, assessed, managed, monitored and reported.
• Develop detailed expense models, budget forecasting and analysis.

Qualifications:

• University degree
• Minimum 5  years in a sourcing, contracts and vendor management role with a solid understanding of the entire vendor lifecycle.
• Experience ideally gained with a Bank or Financial Institution.
• Demonstrated experience successfully managing third parties, reviewing policies, performance, and contract management or negotiation strategy for small, medium and complex contracts

• Familiarity with regulatory requirements (OSFI) is an asset
• Business Process Optimization mindset – knowledge of processes for creating, analyzing, monitoring or improving requisitions
• Ability to communicate and work effectively cross-functionally with internal stakeholders, as well as external stakeholders including vendors
• Mutli-tasking and time-management skills, with ability to prioritize tasks
• Must have proficient oral and written skills; including report writing and presentation skills
• Solid expertise using Microsoft Office, Power BI, Visio, SharePoint. Familiarity with eSourcing tools, is an asset 

This role is now vacant

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