Manager, Vendor Management - Toronto, ON

Scotiabank•Toronto, ON

9d•Onsite

About The Position

Responsible for developing and maintaining strategic relationships with market data vendors and internal stakeholders to ensure alignment with business and technology objectives. The role ensures services are delivered cost-effectively while mitigating regulatory, financial, and reputational risks. The incumbent manages a portfolio of vendor relationships through the full contract lifecycle while leading a team of Vendor Managers, providing leadership, guidance, coaching, and oversight to support the successful delivery of departmental objectives.

Requirements

10+ years of experience in financial services, market data management, vendor management, procurement, contract management, or a related discipline.
Demonstrated experience leading, coaching, and developing professional staff.
Proven experience managing vendor relationships and negotiating complex commercial agreements.
Strong knowledge of vendor management frameworks, contract lifecycle management, and market data licensing practices.
Strong understanding of third-party risk management, governance, compliance, and operational controls.
Demonstrated financial acumen, including budgeting, forecasting, spend management, and cost optimization.
Strong analytical, problem-solving, negotiation, project management, and change management skills.
Excellent communication and leadership skills with the ability to influence stakeholders across multiple levels of the organization.
Experience managing competing priorities and supporting teams in a complex, fast-paced environment.
High degree of autonomy, sound judgment, and ability to operate effectively in complex and ambiguous environments.

Responsibilities

Lead strategic vendor relationships, ensuring alignment with business objectives, service expectations, and contractual commitments.
Manage vendor performance, contract renewals, negotiations, and issue resolution to maximize value and service quality.
Provide expert guidance on sourcing, market data licensing, vendor selection, and industry best practices while fostering strong stakeholder partnerships.
Ensure compliance with procurement, third-party risk, regulatory, and vendor management policies through effective governance and oversight.
Identify, assess, and mitigate vendor-related operational, financial, licensing, and compliance risks, including issue escalation and remediation.
Drive process improvements, operational efficiencies, and governance enhancements across vendor management activities.
Maintain controls and processes to support licensing compliance and mitigate vendor-related operational, financial, and regulatory risks.
Oversee vendor budgets, forecasts, spend management, invoice validation, and contractual financial obligations.
Lead commercial negotiations, pricing reviews, utilization analysis, and cost optimization initiatives to deliver savings and business value.
Develop business cases, benchmarking analyses, and financial reporting to support strategic and operational decision-making.
Lead, coach, and develop a high-performing team of vendor management professionals, fostering accountability, collaboration, and continuous improvement.
Establish team priorities, allocate resources, monitor performance, and ensure achievement of business objectives and service commitments.
Serve as the primary escalation point for complex vendor, contractual, operational, and stakeholder issues while supporting talent development and succession planning.
Oversee vendor onboarding, renewals, sourcing activities, and transformation initiatives to support evolving business needs.
Conduct vendor evaluations, benchmarking, usage analysis, and alternative solution assessments to optimize vendor strategies.
Prepare and present management reporting on vendor performance, spend, contracts, risks, and key operational metrics while representing the function in cross-functional forums.