Senior Manager, Strategic Sourcing

Job Description

What is the Opportunity?

The Senior Manager, Strategic Sourcing will provide Procurement support within the CAO Functions Platform, while influencing sourcing decisions, driving supplier consolidation, cost savings and cost avoidance efforts. This role will partner with senior management to proactively develop negotiation and contract strategies for high risk/complex and sensitive sourcing initiatives. The incumbent will gather and analyze data to create playbooks and strategies to support the different business models for services contemplated or currently under contract and prepare findings for senior management; as well as develop and negotiate complex (strategically critical, high value, or high risk) contract strategies that will provide cost effective, sustainable solutions to RBC businesses, and optimize total value generated from RBC's supplier base.

What will you do?

• Proactively manage pipeline of sourcing activities, create plans to identify and recommend alternative sourcing strategies that maximize value for RBC
• Lead and execute complex sourcing initiatives through competitive evaluation (e.g. RFx, quotes).
• Negotiate and draft complex supplier contracts, support business groups in managing supplier contracts in accordance with RBC policies
• Build effective and strong relationships with key stakeholders (including executive level) by understanding requirements and dynamics across stakeholder groups, decision makers and influencers
• Secure stakeholder support for complex decisions, including the ones that may be unpopular, high-risk, or contentious
• Identify, research, analyze and prioritize possible new sourcing opportunities and/or process changes through internal spend analysis, knowledge of business unit, market research, and interactions with internal stakeholders
• Provide mentoring, coaching to help develop skills and abilities of team members to optimize future job performance
• Proactively manage pipeline of sourcing activities, create plans to identify and recommend alternative sourcing strategies that maximize value for RBC
• Lead and execute complex sourcing initiatives through competitive evaluation (e.g. RFx, quotes).
• Negotiate and draft complex supplier contracts, support business groups in managing supplier contracts in accordance with RBC policies
• Build effective and strong relationships with key stakeholders (including executive level) by understanding requirements and dynamics across stakeholder groups, decision makers and influencers
• Secure stakeholder support for complex decisions, including the ones that may be unpopular, high-risk, or contentious
• Identify, research, analyze and prioritize possible new sourcing opportunities and/or process changes through internal spend analysis, knowledge of business unit, market research, and interactions with internal stakeholders
• Provide mentoring, coaching to help develop skills and abilities of team members to optimize future job performance

What do you need to succeed?

Must-have

• Post-secondary education, related purchasing field or Procurement designation
• 7+ years' experience in global Procurement, sourcing and relationship management
• Experience in leading stakeholder interactions/relationships and influencing business decisions
• Strong contract acumen: AI contracts, Contract Gap Analysis, Redlining, Contract Negotiations
• Strong organizational, analytical and presentation skills, delivering to Senior and Executive level leaders

Nice-to-have

• Financial Institution experience
• Familiarity of Procurement law and/or regulations
• Procurement certification

What's in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
• Leaders who support your development through coaching and managing opportunities
• Ability to make a difference and lasting impact
• Work in a dynamic, collaborative, progressive, and high-performing team
• A world-class training program in financial services
• Flexible work/life balance options
• Opportunities to do challenging work
• Access to a variety of job opportunities across business and geographies

#LI-POST

Job Skills

Contract Management, Decision Making, Interpersonal Relationship Management, Negotiation, Reviewing Contracts, Sourcing and Procurement, Supplier Evaluations

Additional Job Details

Address:

BAY WELLINGTON TOWER, 181 BAY ST:TORONTO

City:

Toronto

Country:

Canada

Work hours/week:

Employment Type:

Full time

Platform:

CHIEF LEGAL & ADMIN OFFICE GRP

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

Application Deadline:

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Inclusion and Equal Opportunity Employment

At RBC, we believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.

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