Senior Manager of Strategic Sourcing and Vendor Management
3 weeks ago
At 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 challenges and envisioning the future of banking, you will find a home with us. We foster a collaborative environment where questions are encouraged, and learning is a shared journey.
As a growing organization, we proudly serve over 370,000 clients across Canada through Equitable Bank, Canada's Challenger BankTM, and have a legacy spanning more than 50 years. Our subsidiary, Concentra Bank, supports credit unions that collectively serve over 5 million members. Together, we manage over $100 billion in assets, with a clear mission to transform Canadian banking and enhance the lives of our clients. Our EQ Bank platform has been recognized as the top Schedule I Bank in Canada by Forbes in recent years.
Position Overview
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 lead the sourcing and procurement of goods and services, overseeing supplier and third-party relationships throughout the contract lifecycle. Your primary responsibility will be to collaborate with various business units to understand their needs, deliver value, and mitigate risks associated with third-party engagements. This includes developing and updating procurement policies, procedures, and performance metrics while managing a centralized sourcing and risk management program.
Key Responsibilities
- Formulate and communicate sourcing strategies, regulatory requirements, and risk management processes throughout the vendor management lifecycle.
- Conduct competitive 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.
- Build and maintain positive relationships with internal and external partners to achieve business objectives and drive value.
- Collaborate with business and technology teams to oversee contract development and administration, including bids and proposals.
- Engage with internal Risk, Legal, and Business stakeholders to finalize contracts and negotiate terms.
- Work closely with suppliers and third parties to ensure compliance with contract 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 services and stay informed about best practices in procurement and vendor management.
- Maintain an up-to-date contract pipeline and provide regular updates on service delivery and performance metrics.
- Analyze and report on procurement categories, tracking key metrics consistently.
- 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; or equivalent experience.
- Preferred certifications include Certified Supply Chain Management Professional (CSCMP) or similar designations.
- Exceptional communication and presentation skills, with strong negotiation and facilitation abilities.
- Knowledge of technology suppliers and their products/services.
- Ability to make strategic recommendations that enhance value and drive revenue.
- Strong analytical, financial, and conceptual skills.
- Demonstrated project management experience in a fast-paced environment.
- Familiarity with leading sourcing and procurement practices, including performance tracking.
As a full-time permanent employee, you will enjoy a competitive discretionary bonus, a market-leading RRSP match program, comprehensive medical, dental, vision, life, and disability benefits, and an Employee Share Purchase Plan. We also provide maternity and parental top-up benefits, a generous vacation policy, personal days, and opportunities for professional development. Our commitment to inclusion ensures that all employees thrive in a diverse environment, and we support your growth both professionally and personally. We are dedicated to providing 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 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...
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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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