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Lead Sourcing Strategist

3 months ago

Toronto, Ontario, Canada Thomson Reuters Full time

Contract Duration: 5 months 28 days

Status: CLOSED

Position Overview

Thomson Reuters is in search of a Lead Sourcing Strategist specializing in Technology Sourcing. This role is pivotal in managing and optimizing the procurement of third-party services and products. The primary goal is to collaborate with stakeholders to secure optimal goods and services while adhering to acceptable risk parameters to support corporate objectives.

In this role, you will oversee a complex network of products, services, processes, technologies, and suppliers across various global locations.

Key Responsibilities

  • Formulate Category Plans and sourcing strategies that encompass a portfolio of essential initiatives aligned with the IT Strategy.
  • Execute critical IT sourcing initiatives to achieve maximum value while managing risk effectively.
  • Contribute to the annual pipeline of IT sourcing initiatives, ensuring integration with financial planning.
  • Draft, negotiate, and finalize supplier contracts in accordance with Thomson Reuters' standards and business objectives.
  • Streamline the number of IT suppliers to reduce fragmentation and enhance commercial efficiency.
  • Provide guidance and support to Sourcing Managers within the Technology Sourcing teams.
  • Represent Global Services in governance forums with strategic IT suppliers, ensuring compliance with contractual obligations and timely resolution of issues.
  • Foster and strengthen relationships with key IT suppliers and service delivery teams to ensure high service levels while maintaining competitive commercial terms.
  • Develop and secure approval for Category Plans and sourcing strategies from relevant stakeholders.
  • Create robust business cases for each IT sourcing initiative.
  • Establish comprehensive implementation plans for every IT sourcing initiative.
  • Produce high-quality sourcing materials at each stage of the sourcing lifecycle to facilitate informed decision-making.
  • Implement active risk management for each IT sourcing initiative to significantly reduce third-party risks.
  • Achieve substantial and sustainable annual cost reductions for Thomson Reuters, employing a rigorous savings methodology.

Candidate Profile

The ideal candidate for the Lead Sourcing Strategist position will possess:

  • Extensive experience in general sourcing.
  • A proven track record in developing and negotiating IT sourcing agreements valued at up to 25 million.
  • Demonstrated success in achieving significant cost reductions through effective IT sourcing strategies.
  • A deep understanding of contract terms and the ability to draft and negotiate contracts proficiently.
  • Strong relationship management and cross-functional leadership skills.
  • Experience in best-practice sourcing methodologies and a commitment to ethical practices.
  • Expertise in contracting for agile application development and managed services.
  • Experience leading negotiations with major global partners and technology suppliers.
  • Knowledge of industry trends and the ability to assess their impact on sourcing strategies.
  • Strong analytical skills and the ability to produce high-quality sourcing documentation.
  • Experience building relationships with senior IT and business executives.
  • A Bachelor's degree or equivalent experience.