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Vendor and Contract Manager
5 hours ago
At FSRA, our vision is to ensure financial safety, fairness, and choice for Ontarians. As a financial services regulator, we're passionate about protecting consumers. Our principles-based approach means we can quickly and effectively respond to the changing needs of consumers and the industry.
Our team combines industry expertise with commitment to public service. We attract individuals who are interested in meaningful work and who measure success through outcomes, not inputs.
At FSRA, we invest in the personal and professional growth of our team. We offer a competitive compensation package that includes an employer-matched defined benefit pension plan, and a comprehensive and competitive benefits plan. We prioritize learning and development, wellbeing, diversity, equity, inclusion and belonging, and community giving.
Join FSRA and help us shape the future of regulation for generations to come
Job Description:
*Note - This is a temporary role for approximately 18 months*
Purpose of Position
The position of Vendor and Contract Manager leads and matures FSRA's end-to-end vendor and contract management function by providing oversight for the lifecycle of multiple vendor relationships and contracts establishing strong governance, driving performance oversight, and ensuring alignment with FSRA goals, organizational risk, compliance, and financial standards.
Key Responsibilities
Acting as the central liaison between internal stakeholders and external suppliers, the role is responsible for sourcing, negotiating, onboarding, and managing critical vendor relationships including:
Leads the end-to-end vendor management lifecycle, including sourcing, contracting, vendor onboarding, performance monitoring, issue resolution, and offboarding.
Creates an Enterprise Vendor Management Framework and governance, recommend policy updates to reflect business changes and improvements.
Manages multiple vendors, change requests, performance management and cross-functional dependencies.
Develops and maintains supplier management policies, procedures, and governance frameworks to ensure vendor compliance with organizational standards.
Collaborates with Business, Procurement, Finance, Legal, Cyber Security, and Privacy teams on RFx processes and contract negotiations.
Works with Business, Procurement, Finance, Legal, Cyber Security and Privacy to ensure the best possible outcome in contract negotiation that will protect FSRA against harmful reputational impact caused by the vendors (such as cyber-attack against the vendor, outage, vendor dissolution, legal liability, IP violation by the vendor, indemnity, etc.).
Develops vendor strategies and fosters strong vendor relationships to ensure compliance with contract terms mitigating potential risks associated with vendor operations.
Monitors vendor's performance, financial status, and SLA/KPI adherence through regular assessments, business reviews, and performance scorecards to ensure alignment with business objectives. The task also includes tracking consistent adherence to the contract's provisions, such as Certificate of Insurance, SOC2 Certificate, data residency requirement, throughout the life of the contract.
Performs regular/frequent risk assessments on the vendors based on the criteria that is aligned with the Enterprise Risk Management (ERM) Policy ensuring that the Vendor Risk Assessment is kept up to date.
Retains objectivity in evaluating the source of any ongoing challenges with Vendor delivery or performance and the necessary actions to resolve them.
Critically assesses and challenges vendor-provided cost and work effort estimates for change requests, new work orders, and other artefacts to ensure alignment with FSRA's value expectations and budgetary goals.
Drives and facilitates Change Orders and dispute resolutions between business and suppliers, ensuring transparent and efficient communication.
Identifies opportunities to improve/enhance existing vendor management related processes with the goal of being perceived across the vendor pool as a "best in class" partner.
Supports the business in demand planning, budget monitoring, and financial oversight of vendor engagements, ensuring alignment with forecasts and project needs.
Facilitates internal cross-functional training and enablement sessions to drive awareness and understanding of the Vendor Management role and effective vendor management processes and procedures across the business.
Champions data-driven insights, policy development, and continuous improvement to position FSRA as a best-in-class partner in the vendor landscape.
Creates and maintains metrics and data analysis tools (Excel, Power BI) for enhanced vendor performance visibility and strategic decision-making.
Leads vendor review meetings, objectively identify areas for improvement, and collaborate with vendors and internal functions to address issues proactively.
Creates an approach to collect market intelligence from vendors about rates, experience, and expectations to inform business strategies.
Tracks, creates, and monitors vendor contracts data in Excel and Power BI, ensuring transparency and real-time updates.
Qualifications
Education
Completion of a postsecondary diploma in Business Management, Supply Chain Management or a related field – or a combination of education, training and experience deemed equivalent.
Experience
A minimum of 5 years of progressive experience in vendor management operations and supplier governance.
Knowledge and Skills
Strong understanding of supplier risk management, third-party risk assessments, and process optimization strategies.
Demonstrated expertise in business management, project management, change management, and process development.
Strategic thinker with the ability to develop and implement vendor strategies that align with overall business goals. Familiarity with contract law, contract lifecycle management, and best practices .
Exceptional stakeholder management skills, effectively collaborating with senior executives and cross-functional teams.
Exceptional relationship building and management skills with a demonstrated deftness in mediating challenging situations between external vendors and internal stakeholders.
Ability to build and maintain objectivity, remaining unbiased, in the pursuit of delivery excellence.
Strong analytical and problem-solving abilities with a focus on continuous improvement and operational excellence.
Excellent verbal and written communication skills, including presentation and facilitation capabilities for effective communication with vendors and internal stakeholders.
Proven ability to manage multiple vendor relationships and projects simultaneously.
Mature relationship management skills to own the senior-level relationship with the vendor or vendor pool, acting as a bridge between the Business and the Vendor.
Sound financial acumen to understand financial implications of vendor contracts and relationships.
Ability to independently manage competing priorities with sensitivity to internal stakeholders and deadlines in a fast-paced environment.
Self-starter mindset with a drive for continuous improvement by staying informed on best practices in operational management and technology.
Exceptional organizational skills, time management abilities, and attention to detail.
Demonstrated sound judgment and political acuity to maintain the confidentiality of sensitive information.
Proven track record of managing multiple vendor / supplier relationships critical to cloud and platform technology environments.
Analytical skills to analyze vendor performance data, identify trends, and make data-driven decisions .
Results-oriented mindset with demonstrated abilities in operational excellence and working both independently and collaboratively to move projects forward.
Ability build/maintain a strong market reputation of FSRA as a fair, collaborative and results-oriented partner.
Advanced proficiency in Microsoft Office Suite (Excel, Word, PowerPoint, Outlook, MS Teams) and experience with reporting tools like Power BI.
*Please note that this position will close at 12AM on the expiry date*
Compensation Grade:
Grade 07-AMAPCEOCompensation Range:
$88,496.00-
$128,625.00Bargaining Unit:
AMAPCEOJob Code:
Job Code: 7A001FEmployment Type:
Fixed Term (Fixed Term)Scheduled Weekly Hours:
36.25FSRA is committed to ensuring equity in employment. Our goal is to create a diverse, inclusive workforce that reflects the communities we serve and to ensure our services and communications are accessible to all individuals. Accommodation is available under the Ontario Human Rights Code.
NOTE: ONLY QUALIFIED CANDIDATES WILL BE CONSIDERED
