Vendor Manager Ii
2 months ago
**Work Location**:
Toronto, Ontario, Canada
**Hours**:
37.5
**Line of Business**:
Procurement & Sourcing
**Pay Details**:
$76,800 - $115,200 CAD
**Department Overview**:
TD Business Banking provides financial solutions to Canadian businesses of all sizes across a wide range of industries. In pursuit of The Quest, dedicated Better Business Bankers deliver customized solutions to meet the unique needs of our customers. Drawing on a range of products and services including financing, deposit, investment, cash management, international trade and foreign exchange, we provide the right tools and advice to help customers achieve their goals.
The Business Banking VMO supports a dozen LOBs under the Business Bank umbrella including Merchant Solutions, Auto Finance, Equipment Finance, UGO, Credit, Commercial Banking and Commercial Mortgage, to name a few. The BB VMO resides within the larger Enterprise VMO of the bank.
- Thought leader and strategic thinker, with a future-focused mindset on how to drive the business forward
- Initiate intake via a Sourcing Request and follow the Third-Party Risk Assessment (TPRA) process
- Facilitate and manage Business Arrangements throughout all phases of the Third-Party Risk Management Lifecycle (TPML), and ensure compliance with TPRM Policy, Standards and Framework.
- Accountable and responsible for timely completion of Third Party Control Assessments for new/changes to third party relationships and other required deliverables, including review/approval from key stakeholders
- Accountable and responsible for monitoring vendor performance and risk, via reporting/dashboards/governance routines
- Accountable and responsible for risk and issue management, escalating and tracking vendor issues per TPRM Issue management requirements, partnering with the business to drive remediation plans
- Manage and drive timely renewal of all contracts; Participate in/facilitate contract renewal and negotiation process, working with internal partners (Legal, Sourcing, Contracts) as well as business partners to ensure contracts and agreements maximize our values, meet business objectives, regulatory requirements, mitigate risks and meet TD policies and standards
- Possess a strong understanding of contractual terms and conditions, and their commercial implications to the business to effectively manage vendor agreement(s) and relationship(s) and ensure adherence to contractual requirements
- Lead the assessment/development of SLA’s, standards, policies, procedures and compliance monitoring plans that maximize customer satisfaction, decrease risk and/or mitigate to the maximum of availability, efficiency and effectiveness
- Collect/Review/Assess audit documentations (i.e. CSAE3416, SOC I/II) and determine next steps for remediation of gaps
- Maintain and ensure satisfactory Internal and External Audits & Compliance requirements are met
- Provide oversight to ensure organized storage of evidence of all activities for audit readiness
- Provide oversight in support of invoice processing, ensuring procedures are in place, including billing, invoicing, rebates, performance/penalty adjustments and internal charge backs, where appropriate
- Closely monitor vendor spend (costs), proactively identifying opportunities to improve cost effectiveness and trends against budget forecasts
- Maintain a strong understanding of the Bank's vendor management tools, including SAP Ariba, Coupa Risk, Interos, etc.
- Develop and maintain solid and effective working relationships, creating organizational alignment with our business, sourcing, legal/contract partners, finance and other internal stakeholders. Ensuring communication channels exist, attending/facilitating meetings and participating in working sessions and providing value added analysis as required.
- Contribute to team development of skills and capabilities through mentorship of others, by sharing knowledge and experiences and leveraging best practices
- Act as the leader in administering change management, performance management and the talent pipeline for the development of the team
**Job Requirements**:
- Highly professional with established relationship building with previous Vendor Management experience and/or working with Third-Parties - REQUIRED
- Comfortable with legal language and able to fully understand contract contents - REQUIRED
- Ability to manage multiple Vendor relationships simultaneously - REQUIRED
- Excellent communication, presentation and negotiation skills
- Excellent documentation skills; understands the importance of organized evidence storage to ensure audit readiness
- Ability to build effective working relationships with internal and external partners at all levels
- Strong project management, organization and time management skills
- Ability to work well under pressure and within tight timelines
- Ability to multitask, manage competing priorities effectively
- Demonstrated influencing, negotiation, analytical and presentation s
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