Specialist, Strategic Sourcing Jobs

If you have always focused your career on purchasing, and now your interest is turning to the world of finance, this is the job for you.

Accountabilities:

• Collaborate with the other members of the team to resolve various procurement issues and identify opportunities for process optimization
• Proactively conduct market intelligence activities including industry, supply market and supply chain research/analytics, category sourcing and outsourcing trends and best practices and share knowledge
• Develop collaboration with executive management and maintain business relationships with internal partners
• Provide prompt and comprehensive response to all external audit, regulator and compliance requests and findings
• Provide guidance and insight on outsourcing governance best practices and provide counsel to business to ensure supplier arrangements meet the Bank’s policy and regulatory requirements
• Drive and lead the contract negotiation process, with consultative support, as required, from other areas
• Lead cross-functional teams to execute on medium to high value/complexity sourcing projects and contracting efforts
• Track, monitor, and manage sourcing and contracting agenda including progress, risk, and benefits
• Proactively work with the business area to understand business needs, business strategy, and pipeline of contract renewals to build an overall supplier contract strategy (consolidate and reduce contracts where opportunity exists)
• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions
• Ensure the accuracy of purchase requisitions, PO details
• Provide the executives and the managers with advisory assistance in strategic sourcing
• Maintain and upgrade the systems and tools allowing adequate management of all procurement documents
• Act as the issues/incident escalation point for the supplier that may have an enterprise-wide impact or not resolved at the business level
• Track calculations of penalties and disputes and participating in their settlement
• Create and deliver training of all associates on the Bank’s Strategic Sourcing program
• Plan and conduct sourcing events (e.g. RFI, RFP, contract negotiation/renewal, etc.)
• Create, maintain, and meet deadlines for procurement reporting and KPIs
• Determine sourcing strategy and conduct analysis and negotiations
• Maintain up to date the policies, procedures and processes regarding contract and procurement management
• Lead due diligence activities to ensure contracts and renewals incorporate business and regulatory requirements
• Organize, influence, and manage a portfolio of contracts supporting all aspects of the negotiation of the contract
• Deliver business value through the development of high quality and cost-effective supply relationships and detailed financial analysis, while pursuing and championing total cost of ownership (TCO) savings

Experience and skills required:

• Ability to develop and maintain strong relationships with multiple vendors and business partners both internal and external
• Procurement and strategic sourcing experience in banking industry and OSFI guidelines
• Strong financial acumen and negotiation skills
• Attention to details
• Champion a high-performance environment and implement a people strategy that attracts, retains, develops, and motivates team members by fostering an inclusive work environment
• Excellent written and verbal communication skills, comfortable and confident communicating at all levels including business partners, Executives and Vendors
• Familiarity with ERP systems
• Strong problem-solving skills
• Ability to achieve business objectives through influencing and effectively working with key stakeholders
• Excellent knowledge of computer software such as MS Office

Education

• Bachelor degree in Business or Engineering or equivalent

Experience

• 7 years of relevant experience (banking industry experience)

What we offer?

• Pension program
• Employee discounts: Phone plans, gym membership and car and home insurance, and many retail discounts with Perkopolis.
• Professional development with our eLearning online courses: Paid training, coaching to develop your leadership skills and business skills and education support program.
• Hybrid work model to accommodate your work life balance.
• Vacations and personal days
• Comprehensive benefit package; medical and dental benefits, adjustable to your needs (with access to virtual healthcare)
• An open environment with the latest technological tools.

We're proud to be named one of Montreal's Top Employers for 2023 by Canada's Top 100 Employers! We are honoured to be recognized for the exceptional work environment, incentives and initiatives we offer our dedicated employees, which help make Fairstone Financial an employer of choice.