Senior Manager-Sourcing, Global Procurement

JOB DESCRIPTION

Location: Hybrid (Downtown, Toronto)

Duration: 12 months

Our client, a leading financial institution in Downtown Toronto, is looking for a Senior Manager, Sourcing, Global Procurement, to identify and analyze the strategic issues and challenges related to various supplier strategies and recommend the best solution to senior management. The successful candidate will have the opportunity to work with one of the Top 5 Banks in Canada.

Typical Day in role:

Decision Evaluation and Contract Execution

• Analyze Key Performance Indicators (KPIs) to identify and analyze strategic issues, business unit opportunities, service levels, consolidate critical and non-critical requirements across different suppliers.
• Effectively prepare, coordinate and conduct all complex supplier negotiations.
• Develop methodologies to capture savings as well as manage value driven negotiations.
• Deliver on cost reduction commitments through the identification, development and execution of strategic souring initiatives.
• Negotiate complex supplier contracts, supports business groups in managing supplier contracts and relationships and drafts and makes necessary amendments to current contracts as necessary.

Relationship Management

• Build effective and strong relationships with key partners and stakeholders (including executive level) by understanding key needs and dynamics across stakeholder groups, decision makers and influencers.
• Develop and maintain trusted relationships with key suppliers, negotiating pricing/and or quality of service while minimizing risk.
• Act as a trusted business partner to influence and lead key sponsors and stakeholders through the sourcing process, to gain buy-in, overcome challenges and deliver on high priority, high-risk, complex initiatives.
• Secures stakeholder support for complex decisions (e.g. unpopular, high-risk, contentious).
• Uses networking and market intelligence to forge and maintain key strategic relationships.

Sourcing Strategy Development & Opportunity Assessment

• Develop strategic sourcing strategies for specific business units executing purchases through the use of industry analysis, business knowledge, competitive analysis and sourcing expertise.
• Create plans to identify or recommend alternative suppliers against the sourcing execution plan, to maximize service levels and procurement activities and create alignment to long-term business strategies.
• Coordinate and manage external research activities to provide assessment of supply market conditions and to help address issues and challenges associated with the organization’s supply chain.
• Identify, research and prioritize possible sourcing opportunities through internal spend analysis, knowledge of business unit, potential savings and/or business need.
• Identify new purchasing opportunities and savings strategies through internal spend analysis to ensure sourcing plans meet savings objectives with support from each business unit.
• Gather internal and external data, and analyze the data to identify and consolidate both supplier and business unit opportunities and requirements across different suppliers.
• Identify and analyze strategic issues business unit opportunities, service levels, consolidate critical and non-critical requirements across different suppliers.

Governance, Risk and Controls

• Manage and lead identified sourcing team through all sourcing activities including RFP development and analysis.
• Develops and implements global efficiencies, standardized tools, practices and procedures, RFP, new supplier and decision-making evaluations.
• Support KPI and metric reporting to key partners and decision makers to drive insights into business trends and opportunities and measure results.
• Analyzes complex procurement challenges and assist in developing solutions to best meet business needs.
• Support development and adherence to financial, fraud-prevention and risk management controls through the Procurement process.

Leadership

• Lead enterprise and business unit procurement initiatives

Must-Have Skills:

• 7-10 years experience
• Experience in global procurement, sourcing and relationship management
• Understanding of procurement law and/or regulations
• Leads complex deals with a total contract value $3Million or more
• Business and Financial Acumen
• Strong Negotiation skills
• Strong contract acumen
• Strong analytical skills
• Experience in leading and supporting stakeholder interactions/relationships
• Achieving financial targets (individual targets of $5MM savings, and team targets of $25MM)
• Ability to impact and Influence
• Service Oriented Focus (Building Partnerships)
• Business and Financial Insight
• Communication(verbal and written)
• Strong supplier management skills

Nice-To-Have Skills:

• Team player, must be willing to support varying workloads and capable of multitasking when required

Soft Skills Required:

• Must be a strong communicator, have strong written skills, ability to interpret complex documents

Education:

• Post-secondary education in Finance, Related Purchasing field or Procurement Designation

Finance professional is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. We advocate for you and welcome anyone regardless of race, color, religion, national origin, sex, physical or mental disability, or age.