Manager, Strategic Sourcing

BMO•Toronto, ON

1d•CA$75,900 - CA$141,900

About The Position

Works with stakeholders to develop and implement innovative sourcing and demand management strategies to achieve business and cost management objectives and minimize risk associated with BMO’s supplier spend. Acts as a trusted advisor to assigned business/group. Influences and negotiates to achieve business objectives. Recommends and implements solutions based on analysis of issues and implications for the business. Assists in the development of strategic plans. Identifies emerging issues and trends to inform decision-making. Manages and implements sourcing strategy projects throughout their lifecycle, leveraging appropriate systems and tools to ensure accurate and up to date reporting on project progress and issues. Includes competitive events and conducting supplier contract negotiations. Manages sourcing category/supply chain initiatives end-to-end. Develops Category Management Framework and Sourcing Strategy. Directs the development of sourcing strategies/ recommendations. Drives end to end execution of sourcing category initiatives. Helps determine business priorities and best sequence for execution of business/group strategy. Conducts analysis to inform strategic recommendations; develops business cases to assess opportunities. Breaks down strategic problems, and analyses data and information to provide insights and recommendations. Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives. Communicates with stakeholders to reach objectives in a timely manner. Leads the execution of the sourcing strategy including the development and management of the project throughout its lifecycle. Plans and conduct sourcing events (e.g. RFI, RFP, contract negotiation/renewal, etc.) Provides market assessment to identify preferred suppliers. Evaluates and selects Supplier. Performs Initial Supplier Risk Assessment Creates, modifies, renews, terminates contracts as required. Participates in the design, implementation and management of core business/group processes and process improvements. Gather industry knowledge and communicate market trends affecting the assigned spend categories pro-actively to internal stakeholder. Works with stakeholders to develop category and/or sub-category sourcing strategies/opportunities, supplier selection, due diligence and contract negotiations while achieving targeted savings and business objectives. Builds effective relationships with internal/external stakeholders and ensures alignment between stakeholders. Includes developing an understanding of business partner needs and expectations. Provides advice and guidance to assigned business/group on implementation of solutions concerning category and supplier strategies, including the end-to-end risk management requirements associated with Outsourcing and Supplier Risk (OSR). Applies a disciplined methodology and procurement policies to the procurement of goods and services. Conducts analysis and develops insights and recommendations that are actionable in alignment with project/program goals. Develops solutions and makes recommendations based on an understanding of the business strategy and stakeholder needs. Collaborates in the management of sourcing category initiatives end-to-end. Identifies areas of opportunity through analyses of industries and supply markets, cost models for products and services, supplier category spend, and the performance of key suppliers in the market. Work with suppliers to create value/savings and mitigate risk. Incorporates market leading process and practices, to mitigate risk, to drive innovation and to maximize overall value for assigned sourcing categories and portfolios. Identifies, develops and implements demand management and cost reduction opportunities, optimizes sourcing strategies, identifies and mitigates supplier risk and negotiates effective controls all through the supplier engagement process. Prepares project plans and keep key stakeholders informed of the process and progress. Manage multiple programs/projects simultaneously and resolve conflicting priorities and objectives. Designs and produces regular and ad-hoc reports, and dashboards. Uses performance measures to monitor and track performance, and address any issues. Builds change management plans of varying scope and type; leads or participates in a variety of change management activities including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives. Maintains knowledge of leading procurement practices and promote adoption of procurement standards. Continuously upgrade knowledge on event and sourcing methodologies with a specific focus on strategic category development. Effectively communicate key messages/recommendations/results to all managerial levels. Provides input into the planning and implementation of operational programs. Focus is primarily on business/group within BMO; may have broader, enterprise-wide focus. Provides specialized consulting, analytical and technical support. Exercises judgment to identify, diagnose, and solve problems within given rules. Works independently and regularly handles non-routine situations. Broader work or accountabilities may be assigned as needed. Take measured risks while protecting the bank by applying our Risk Management Framework in the execution of your role, in line with our Risk Culture and within our approved Risk Appetite, making sound and risk informed decisions that align to business strategy, protect assets, and adhere to applicable policy documents (Frameworks, Policies, Standards, Procedures and Supporting documents), laws and regulations.

Requirements

Typically between 5 - 7 years of relevant strategic sourcing, supply chain and/or procurement work experience.
Post-secondary degree in a related field of study or an equivalent combination of education and experience.
Experience in most areas of sourcing.
In-depth knowledge of sourcing/procurement processes, procedures and controls.
In-depth knowledge of relevant risk and regulatory requirements.
In-depth knowledge of Sourcing in Financial Services or Technology industries.
In-depth knowledge of business analysis, project delivery practices and standards across the project lifecycle.
In-depth Excel and spreadsheet analysis skills.
In-depth negotiation knowledge, skill and ability.
Knowledge of sourcing and procurement systems and applications.
Financial Services, Financial or Cost Management experience.
Knowledge of the group/business environment and processes and procedures.
Experience in compiling, synthesizing and drawing insights from a variety of research sources.
Demonstrated ability to assess risks including identifying, quantifying and prioritizing risks.
Deep knowledge and technical proficiency gained through extensive education and business experience.
In-depth verbal & written communication skills.
In-depth collaboration & team skills.
In-depth analytical and problem-solving skills.
In-depth influence skills.
In-depth data-driven decision making skills.

Responsibilities

Develop and implement innovative sourcing and demand management strategies.
Act as a trusted advisor to assigned business/group.
Influence and negotiate to achieve business objectives.
Recommend and implement solutions based on analysis of issues and implications for the business.
Assist in the development of strategic plans.
Identify emerging issues and trends to inform decision-making.
Manage and implement sourcing strategy projects throughout their lifecycle.
Conduct competitive events and supplier contract negotiations.
Manage sourcing category/supply chain initiatives end-to-end.
Develop Category Management Framework and Sourcing Strategy.
Direct the development of sourcing strategies/recommendations.
Drive end-to-end execution of sourcing category initiatives.
Determine business priorities and best sequence for execution of business/group strategy.
Conduct analysis to inform strategic recommendations and develop business cases.
Break down strategic problems and analyze data and information to provide insights and recommendations.
Lead change management programs.
Communicate with stakeholders to reach objectives in a timely manner.
Lead the execution of the sourcing strategy.
Plan and conduct sourcing events (e.g., RFI, RFP, contract negotiation/renewal).
Provide market assessment to identify preferred suppliers.
Evaluate and select suppliers.
Perform initial supplier risk assessment.
Create, modify, renew, and terminate contracts as required.
Participate in the design, implementation, and management of core business/group processes and process improvements.
Gather industry knowledge and communicate market trends affecting assigned spend categories.
Develop category and/or sub-category sourcing strategies/opportunities, supplier selection, due diligence, and contract negotiations.
Build effective relationships with internal/external stakeholders and ensure alignment.
Provide advice and guidance on implementation of solutions concerning category and supplier strategies.
Apply a disciplined methodology and procurement policies to the procurement of goods and services.
Conduct analysis and develop insights and recommendations.
Develop solutions and make recommendations based on business strategy and stakeholder needs.
Collaborate in the management of sourcing category initiatives end-to-end.
Identify areas of opportunity through analyses of industries, supply markets, cost models, supplier spend, and supplier performance.
Work with suppliers to create value/savings and mitigate risk.
Incorporate market-leading processes and practices to mitigate risk, drive innovation, and maximize overall value.
Identify, develop, and implement demand management and cost reduction opportunities.
Optimize sourcing strategies, identify and mitigate supplier risk, and negotiate effective controls.
Prepare project plans and keep key stakeholders informed.
Manage multiple programs/projects simultaneously and resolve conflicting priorities.
Design and produce regular and ad-hoc reports and dashboards.
Use performance measures to monitor and track performance.
Build change management plans and lead or participate in change management activities.
Maintain knowledge of leading procurement practices and promote adoption of procurement standards.
Continuously upgrade knowledge on event and sourcing methodologies.
Effectively communicate key messages/recommendations/results to all managerial levels.
Provide input into the planning and implementation of operational programs.
Provide specialized consulting, analytical and technical support.
Exercise judgment to identify, diagnose, and solve problems within given rules.
Take measured risks while protecting the bank by applying the Risk Management Framework.