Procurement Sourcing Partner(Indirect Category) NEW

2 weeks ago

Waterloo, Canada Definity Financial Corporation Full time

We are seeking a highly motivated and skilled Procurement Sourcing Partner to join our dynamic team. As a Sourcing Partner, you will be responsible for developing and executing sourcing strategies to ensure the availability of high quality services for our organization and customers. Your role will involve conducting market research, identifying potential suppliers, facilitating RFx processes, negotiating pricing and contract terms, presenting to executives/steering committees, and managing relationships with key stakeholders. The ideal candidate will possess strong analytical abilities, exceptional negotiation skills and a deep understanding of procurement practices.

What can you expect in this role?

  • Strategic Sourcing: build and execute sourcing strategies that include; a) analysis of vendors (RFx/competitive bid processes, data analysis, etc.); b) financial reviews, cost comparisons; c) external market analysis, including analyzing purchasing trends; d) establishing category strategy; e) collaborating with internal stakeholders to understand business needs; f) liaising with external vendor partners; g) creating and delivering presentations to senior leaders and executives throughout the lifecycle of sourcing initiatives.
  • Contract Negotiations: lead the negotiation strategy and/or support on contract negotiations with vendors to deliver value and savings to the organization.
  • Contract Management:in partnership with Legal Services, act as the liaison between internal clients and vendors to resolve problems and or discrepancies, renew or terminate contracts, interpret terms and conditions and review and address contractual gaps. Deliver robust and comprehensive agreements that mitigate organizational risk.
  • Relationship Management: developing and maintaining strong working relationships with internal stakeholders and external vendor partners. Collaborate with cross-functional teams to understand their requirements and provide guidance on sourcing options and identify strategic opportunities.
  • Project Management: independently facilitates information gathering sessions with stakeholders and establishes reliable schedule for priority action items. Self-manage to ensure deliverables are completed within established timelines. Managing multiple priorities simultaneously. Prepare and present regular reports on sourcing activities, supplier performance, cost savings, and other relevant metrics to senior management.
  • Category/Industry Knowledge: Conduct comprehensive market research and supplier evaluations to identify potential vendors and assess their capabilities, quality standards, and pricing models. Analyze market trends, monitor industry developments and identify opportunities for cost savings, process optimization, and risk mitigation.

What do you bring to the role?

  • 7-10 years’ experience in a similar role within a corporate / business environment with direct experience in negotiating and drafting agreements
  • You have significant sourcing/procurementexperience in indirect spend categories with strong knowledge of procurement processes, sourcing strategies and contract management principles in one or more of the following areas: Marketing, Professional Services, Insurance Operations. Experience with outsourcing and managed services is an asset
  • You are an effective communicator, influencer and negotiator with strong interpersonal skills
  • You are a solution oriented strategic thinker anddemonstrate analytical and problem-solving abilities, with a data-driven approach to decision-making
  • You have deep experience using a variety of procurement tools including dynamic sourcing tools, auctions, spend analytics, procure-to-pay, contract lifecycle management, vendor management and third-party risk management as well as proficient in the development of executive level presentation materials
  • You’re a seasoned procurement professional with a full understanding of applicable legislation and industry best practices related to contract agreements
  • Your negotiation, presentation, facilitation, project management and planning expertise are second to none
  • You are highly organized with an attention to detail and have the ability to work effectively in a fast-paced environment, prioritize tasks, and meet deadlines.
  • You have a completed post-secondary education (university degree or public college diploma), CSCMP designation is an asset
  • Insurance and/or Financial industry experience would be beneficial but is not required
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