Senior Manager of Strategic Sourcing and Vendor Management
3 weeks ago
At Equitable Bank, we are not your conventional banking institution. We are dedicated to revolutionizing the banking experience for Canadians, providing innovative solutions that challenge the status quo. Our team consists of dynamic and curious individuals who are committed to finding smarter, more efficient ways to serve our clients. If you thrive on tackling significant challenges and reshaping the future of banking, you will find a welcoming environment here. We foster a culture of collaboration, fun, and continuous learning.
As a prominent player in the financial sector, Equitable Bank serves over 370,000 customers across Canada and has a rich history spanning more than five decades. Our subsidiary, Concentra Bank, partners with credit unions nationwide, impacting over 5 million members. Together, we manage assets exceeding $100 billion, with a clear mission to drive transformative change in Canadian banking.
Your Role
The Senior Manager of Strategic Sourcing & Vendor Management will report directly to the Director of Strategic Sourcing & Vendor Management. In this pivotal role, you will oversee the sourcing and procurement of goods and services, ensuring effective management of suppliers and third parties throughout the contract lifecycle. Your responsibilities will include collaborating with various business units to understand their needs, delivering value, and mitigating risks associated with third-party engagements. This will involve developing and refining procurement policies, procedures, and performance metrics, as well as managing a centralized sourcing and risk management program.
Key Responsibilities
- Formulate and communicate sourcing strategies and roadmaps, addressing regulatory and risk considerations throughout the vendor management lifecycle.
- Conduct competitive intelligence research and invite potential suppliers to engage with our procurement platform.
- Serve as the primary contact for stakeholders to facilitate sourcing and procurement activities, negotiate contracts, and manage due diligence processes.
- Foster collaborative relationships with internal and external partners to achieve business objectives and enhance value.
- Oversee contract development and administration in partnership with business and technology teams, including the creation of bids and proposals.
- Coordinate with internal Risk, Legal, and Business stakeholders to finalize contracts and negotiate terms.
- Engage with suppliers and third parties throughout the contract lifecycle to ensure compliance with terms and service level agreements.
- Act as the business lead for specific procurement categories, ensuring alignment with internal partners and adherence to policies.
- Assist in managing third-party risk, addressing issues, and implementing remediation strategies.
- Continuously update market research on third-party vendors and stay informed about best practices in procurement and vendor management.
- Maintain an updated contract pipeline and provide regular updates on service delivery and performance metrics.
- A minimum of 10 years of progressive experience in strategic sourcing, complex contract negotiation, and supplier performance management.
- Proven experience in leading teams to deliver measurable value.
- Expertise in implementing and managing procurement technologies.
- A degree in Supply Chain Management, Business Administration, or a related field; relevant experience may be considered.
- Preferred certifications include Certified Supply Chain Management Professional (CSCMP) or similar.
- Exceptional communication and presentation skills, with strong negotiation and facilitation abilities.
- Familiarity with technology-based suppliers and their offerings.
- Strong analytical and financial skills, with the ability to drive value and revenue growth.
- Demonstrated project management skills in a fast-paced environment.
- Knowledge of leading practices in sourcing and procurement, including performance metrics and value tracking.
For full-time permanent roles, we provide a competitive discretionary bonus, a market-leading RRSP match program, comprehensive medical, dental, vision, life, and disability benefits, and an Employee Share Purchase Plan. Our generous vacation policy includes personal days and a moving day. We also host virtual events to foster connections among colleagues and offer an annual professional development allowance along with a robust Career Development program. Join us in shaping a new banking experience that enriches lives. Equitable Bank is committed to fostering an inclusive environment where diverse experiences and perspectives are celebrated. We ensure a barrier-free recruitment process and work environment for all applicants.
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Toronto, Ontario, Canada Equitable Bank Full timeAbout UsAt Equitable Bank, we are not your typical financial institution. We believe in revolutionizing the banking experience for Canadians, offering innovative solutions that challenge the status quo. Our team consists of dynamic and curious individuals who are committed to finding smarter ways to serve our clients. If you thrive on tackling significant...
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Toronto, Ontario, Canada Equitable Bank Full timePosition Overview:As a Senior Manager of Strategic Sourcing and Vendor Management at Equitable Bank, you will play a pivotal role in shaping our procurement strategies and overseeing third-party relationships. Your expertise will be essential in driving efficiency and compliance throughout the sourcing lifecycle.Key Responsibilities:Formulate and articulate...
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