Procurement Strategist

2 weeks ago

Toronto, Ontario, Canada TSX Inc. Full time
About the Role

The Senior Procurement Analyst is a key member of our team, responsible for planning and executing the sourcing activities underpinning the procurement of goods and services defined within particular subcategories and against less complex or more transactional sourcing files and vendor relationships.

Key Responsibilities
  • Support RFI/RFP/RFQ, bidding, supplier selection, and negotiation processes as needed.
  • Assist in managing and supporting day-to-day vendor relationships for productive, mutually beneficial outcomes.
  • Utilize business intelligence and reporting to make actionable recommendations on sourcing and vendor management for key vendors.
  • Support the drafting and review of agreements between TMX entities and vendors.
  • Communicate and report to function leadership on the status of any critical external relationships that could impact planning and decision-making.
  • Lead cross-functional sourcing files/initiatives, including developing sourcing approaches and strategies, evaluating suppliers, analyzing bids/proposals, supporting vendor due diligence, engaging enterprise stakeholders, and supporting the preparation/execution of contracts.
  • Manage contract renewals.
  • Ensure compliance with all TMX Corporate Policies.
  • Support the resolution of contract-related issues with vendors as needed.
  • Report on the status of sourcing files as required, explaining sourcing decisions and pricing to internal clients, function leadership, and other senior management.
  • Manage multiple simultaneous sourcing files and help realize value/achieve savings.
  • Assist in identifying high-impact cost reduction opportunities.
  • Work with Procurement Advisors as required, supporting in the negotiation of contracts, including commercial and non-commercial terms.
  • Collect and evaluate information about potential suppliers.
  • Help leverage the organization's buying power to optimize costs, access new suppliers, reduce lead times, and guarantee supply.
  • Work with legal counsel and other cross-functional areas of the organization to ensure contracts and agreements meet TMX policies and standards.
  • Contribute to vendor relationship management, risk mitigation (financial, business continuity, reputational, contractual, commercial), and continuous improvement to optimize value and deliver mutual benefits over the life of the relationship.
  • Develop and maintain constructive and cooperative working relationships with colleagues and management.
  • Respond to clients' inquiries with a sense of urgency and a client-centric approach.
  • Build relationships with internal and external stakeholders to drive engagement and ensure their input and support using problem-solving, persuasion, and proactive communication skills.
  • Stay up-to-date on new industry trends and best practices.

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