Enterprise Vendor Portfolio Relationship Manager

Job Summary:Are you passionate about identifying third party risks and building strong relationship by monitoring vendor performance, mitigating emerging risks all while driving strategic improvements? If yes, we have an exciting opportunity within Strategic Sourcing & Vendor Services for a Enterprise Vendor Portfolio Relationship Manager (EVPRM). If you are a detail oriented and a self-starter with a strong background in third party risk, vendor management and regulatory compliance this role offers an exciting opportunity for youThe role is responsible for Enterprise-wide development, implementation and coordination of framework elements for Third Party Risk & Vendor Management functions in three key areas: Vendor Performance Improvement (VPI) initiatives, Vendor Performance Reporting (VPR) and Vendor Performance Management (VPM); by serving as a subject matter expert and engaging collaboratively with external Vendors, Business Areas, and Strategic Sourcing; including managing highly strategic projects.This role will be accountable for the organizational implementation of the third party risk and vendor management framework for all WSIB Clusters/Business Areas as assigned. The EVPRM will coordinate data collection and harmonization with Business Areas, contract and vendor management resources where they exist. Where they do not exist, the EVPRM will assist the Business Areas in the development of those functions and the associated resources in order to ensure compliance with the WSIB Vendor Management Framework (VMF). In addition, this role is also responsible and accountable for the application of the Vendor Management Framework to all contracts owned by Strategic Procurement.The EVPRM will support the development of contract and vendor management resources by providing guidelines and material support for Business Areas as they move to comply with their obligations to manage their contracts’ service requirements by creating effective vendor management scorecards and dashboards across multiple internal and external stakeholders. The EVPRM will lead and assist the Manager, third party risk and vendor managment in the technical execution of the technology enablement of a vendor performance management platform for the vendor management framework. Once implemented, taking accountability as the technical product platform owner.Major Responsibilities:1. Lead, develop and create the engagement strategy for the vendor portfolio to ensure proper cadence to drive successful outcomes. Work with internal WSIB teams in all Ontario offices to integrate vendor management requirements into their methodologies and disciplines (e.g. performance, adherence to SLA/SLOs KPIs etc). Develop annual strategic plan for vendor portfolio and implement strategic direction across all relevant business units. Collaborate with Strategic Procurement staff and management to ensure vendor management framework (VMF) approaches and practices are incorporated into Strategic Procurement activities (e.g. competitive processes, annual Strategic Procurement planning, category strategies etc.). Assist/support with managing cross cluster vendor relationships to align with the business' strategic goals and objectives, understanding and reconciling competing priorities and evolving business requirements. 2. Review and work with business areas on vendor performance against agreed service levels by utilizing vendor scorecards and assessments to ensure the prompt and thorough resolution/escalation of performance issues, understanding/managing risks associated with customer-facing activities. Identify synergies, seek continuous improvement opportunities and implement initiatives to drive service delivery optimization, savings, pursue efficiencies, lower risk and increase capacity. Ensure that knowledge transfer occurs for consistency and business continuity, by developing, knowledge of market place and industry developments pertaining to vendor relationship(s), category and business requirements. Lead and manage the application of the VMF to the vendor portfolio with the utilization of the two primary verticals of the VMF, contract management and vendor relationship management. Conduct vendor segmentation exercises on the vendor portfolio to determine the current and future disposition, in collaboration with business areas/stakeholders. Act as a neutral party within the organization in the resolution of inter-Business Area disputes or Business Area/Vendor disputes concerning evaluations. This role will also provide guidelines and process for the execution of incentives and consequences. 3. Provide leadership, where required, on Partner management and contract management activities such as: legal reviews, risk assessments, warranty claims, contract segmentation, regulatory, Finance, procurements, development of contract scorecards and response plans for contract and Strategic Partner risks. Work collaboratively with the Manager of Procurement Analysis and Reporting to ensure high quality work product through VMF/Procurement data and information stewardship. Organize, assemble and chair regular meetings with internal business areas and external vendors to review service delivery, contractual commitments, compliance, terms and vendor governance. Participate in the strategic planning and vendor analysis drawing on knowledge of the supply market from previous partner analysis by drawing on knowledge of the supply market and previous vendor management experience. Prepare report for strategic vendor performance tracking related to contract compliance, performance metrics (e.g. SLA, SLO, KPI etc.), internal customer surveys, risk program, dashboards and through ad-hoc feedback from business areas. Ensure vendor risk management and governance oversight for vendors is achieved by ensuring contractual agreements are adhered to. Act as a champion for the VMF both internally and externally, championing a VMF culture that is rooted in reciprocal benefit, mutual trust, transparency, and accountability that provides the means to develop a symbiotic ecosystem by which it can be maintained and sustained to ensure mutual success. 4. Working with the Procurement Contracts Specialist and Procurement Coordinator, monitor service credits &/or penalties against vendor performance in accordance with contractual commitments, and review negotiated rates, rebate programs and volume thresholds against aggregated spend, invoice charges, and financial commitments. Create and conduct regular financial retrospectives to review vendor invoices and facilitate the resolution/escalation of invoice or credit abnormalities in accordance with the contact terms and conditions. Responsible for the continuous application of financial/contract analytics to provide information for annual budgets and identify any cost reduction opportunities. Job Requirements:1. Education requirements:Minimum Level Required: University degree in a relevant field Preferred Level Preferred MA in Political Science, Social Studies (or equivalent), ICAAM Vendor Management certificate (or equivalent), Licensed Paralegal SRMP, Six Sigma, Paralegal, PMP, SCMP Designation certification in vendor management 2. Experience:Minimum Level Required: 5 – 7 years of relevant experience in vendor/customer relationships Preferred Level 7 years at a leadership level in a vendor/customer relationship role. Our commitment to equity, diversity and inclusionWe respect and value the diversity of our people. We strive to create an environment where employees can be themselves and where our differences are celebrated.We value and celebrate diversity and are committed to creating inclusive experiences for both our employees and prospective employees. We invite all interested individuals to apply. If you require accommodations in order to apply to this position please contact talentacquisitioncentre@wsib.on.ca. If you are invited to participate in the interview or assessment process, you can advise our Recruiter of your accommodation needs at that time. Please visit our EDI Vision to learn more about what actions WSIB are taking to advance our commitment to equity, diversity and inclusion and to support all employees participating and contributing to their full potential