Strategic Sourcing Manager

4 weeks ago

Toronto, Ontario, Canada Equitable Bank Full time
About the Role

We are seeking a highly skilled Strategic Sourcing Manager to join our team at Equitable Bank. As a key member of our procurement team, you will be responsible for developing and implementing category sourcing strategies, managing third-party relationships, and driving value through procurement excellence.

Key Responsibilities
  • Develop and communicate category sourcing strategies, roadmaps, and regulatory requirements through the third-party management lifecycle.
  • Research competitive intelligence, including inviting potential suppliers to register on our procurement platform.
  • Lead the execution of sourcing and procurement events, negotiate contract pricing, terms, and conditions, and manage due diligence.
  • Collaborate with internal and external partners to deliver against business objectives, driving value and growth.
  • Oversee contract development and administration, including the development of bids and proposals.
  • Liaise with internal stakeholders to finalize contracts and negotiate terms and conditions.
  • Work with suppliers and third parties to ensure contract terms, SOWs, and SLAs are met.
  • Act as the business lead for specific categories, providing guidance on policies and procedures, and ensuring awareness and alignment with key internal partner groups.
  • Support third-party risk mitigation, issues, escalations, and remediation.
  • Leverage market research and stay up-to-date on leading procurement and third-party management practices.
  • Maintain a full and up-to-date contract pipeline and provide regular updates on the portfolio.
Requirements
  • Minimum 10 years of progressive experience in strategic sourcing, complex contract negotiation, contract management, risk mitigation, and supplier/third-party performance management programs.
  • Experience leading a team that can deliver tangible value.
  • Proficiency in implementing and managing procurement software/technology.
  • University degree in Supply Chain Management, Business Administration, or related area; or relevant experience.
  • Certified Supply Chain Management Professional (CSCMP) or other designation relevant to the role preferred.
  • Excellent communication and presentation skills, along with strong facilitation and negotiation skills.
  • Knowledge of technology-based suppliers and their associated products or services.
  • Experience and ability to make recommendations to drive value and increase revenue.
  • Strong financial, conceptual, and analytical skills.
  • Strong project management skills and experience, with the ability to organize and coordinate a variety of activities in a fast-paced and agile environment.
  • Knowledge of sourcing and procurement leading practices, including performance scorecards and benefits/value tracking.
What We Offer

We offer a competitive discretionary bonus, market-leading RRSP match program, medical, dental, vision, life, and disability benefits, employee share purchase plan, maternity/parental top-up, generous vacation policy, personal days, and virtual events to connect with your fellow colleagues.

As a hybrid employee, you will work from our additional office space located at 351 King Street East, Toronto, ON.

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