Senior Analyst, Procurement and Vendor Management

Foresters Financial • Toronto, ON

2d • CA$65,000 - CA$95,000 • Hybrid

About The Position

The Senior Analyst, Procurement & Vendor Management reports to the Senior Manager and plays a key role in driving end-to-end contract management activities across the organization. This includes managing the contract lifecycle from intake through negotiation, execution, renewal, and ongoing governance, ensuring alignment with business objectives, compliance requirements, and risk management standards. In addition to contract management, the role supports IT software and licensing management, third-party risk management, vendor relationship management, reporting, and sourcing initiatives (RFx). The position operates in a highly consultative and stakeholder-facing capacity, requiring strong communication and interpersonal skills to effectively engage with business units, Legal, Risk, and external vendors. The Senior Analyst is responsible for facilitating clear, timely, and effective communication throughout the procurement and contracting lifecycle, enabling informed decision-making and ensuring successful outcomes. The role also contributes to strengthening vendor relationships and advancing strategic partnerships across the organization.

Requirements

• 4–7+ years of experience in procurement, sourcing, or vendor management
• Experience with procurement/TPRM platforms (e.g., ProcessUnity, Workday, or similar systems)
• Experience supporting enterprise-level procurement functions (e.g., contracts, sourcing, third-party risk management, vendor governance)
• Contract Management: Strong understanding of contract lifecycle (drafting, negotiation support, renewals, compliance tracking)
• Strategic Sourcing: Experience supporting end-to-end sourcing activities (RFx development, evaluation, vendor selection)
• Third-Party Risk Management: Familiarity with due diligence, risk assessments, and governance processes prior to contract execution
• Vendor Relationship Management: Experience managing vendor interactions, performance, and ongoing governance
• Bachelor’s degree in Business, Supply Chain, Finance, or a related field
• Proven ability to: Work cross-functionally with business units, Legal, Risk, and Compliance
• Facilitate procurement processes in a consultative manner
• Strong written and verbal communication skills
• Highly organized and detail oriented with strong follow through.
• Strong judgment, decision‑making, and problem‑solving skills.
• Experience working within documented processes, guidelines, or policy frameworks
• Experience in financial services or highly regulated environments
• Experience with software licensing / IT procurement
• Strong technical and process orientation, with experience leveraging procurement and risk platforms and the ability to design and document process workflows (e.g., flowcharts) and define, track, and report on key performance indicators (KPIs) to drive operational efficiency and continuous improvement

Nice To Haves

• Purchasing certifications

Responsibilities

• Oversee and triage the Procurement & Vendor Management mailbox, ensuring all requests are acknowledged and actioned within one (1) business day, including contract intake and submission to Legal, routing sourcing requests to the Senior Manager, and coordinating changes to existing services
• Lead and facilitate weekly contract review meetings with Legal, ensuring effective contract assignment, timely progression, and adherence to established governance processes
• Support contract lifecycle management by leveraging standard templates and approved legal and business provisions to ensure consistency, efficiency, and risk mitigation
• Provide value-added insight throughout the contracting process by incorporating business context and partnering closely with Legal to ensure contractual terms are commercially sound and aligned with organizational objectives
• Coordinate the contract execution process, including facilitating approvals, obtaining sign-off, and ensuring proper documentation and storage within designated systems
• Identify and drive cost optimization and efficiency opportunities, including sourcing alternative vendors, supporting competitive bidding processes, and contributing to contract renegotiations to maximize value
• Proactively monitor and coordinate the contract lifecycle within ProcessUnity, including tracking key milestones and renewal timelines; engage with business units and stakeholders to assess upcoming renewals and determine whether sourcing or renegotiation activities are required
• Maintain an up-to-date register of procurement and vendor management activities, ensuring data accuracy and visibility; prepare and deliver weekly contract activity reports to applicable stakeholders to support tracking, transparency, and informed decision-making
• Support and participate in vendor and contract negotiations, including software and service agreements, for both new engagements and renewals; collaborate closely with Senior Manager to drive optimal commercial outcomes, mitigate risk, and ensure alignment with business objectives
• Proactively monitor and coordinate IT software and licensing management processes, including maintaining accurate inventories, tracking renewals, reconciling entitlements with usage, and ensuring compliance with contractual terms and licensing agreements
• Support financial planning activities related to software spend, including budgeting, forecasting, and variance analysis, in collaboration with Finance, IT, and business stakeholders
• Partner with Senior Manager to optimize software procurement strategies, including evaluating licensing models (e.g., subscription vs. perpetual, SaaS vs. on-premise), supporting vendor negotiations, and identifying opportunities for cost optimization and demand management
• Ensure effective governance of software assets and vendors, including managing renewals, tracking true-ups, and supporting audit readiness to mitigate financial and compliance risk
• Support third-party risk management (TPRM) in a consultative capacity, ensuring all new procurement requests are effectively guided through the required process, with appropriate due diligence, risk assessments, and approvals completed prior to contract execution
• Support business unit stakeholders in completing TPRM requirements, including assessments, documentation, and workflow activities within the platform, ensuring compliance and smooth progression through the procurement lifecycle
• Support all aspects of the vendor relationship with a variety of vendors (i.e., contractual adherence, SLA management, renewals, some operational issues and issue escalation)
• Participate and coordinate vendor governance and spend analysis reporting
• Support end-to-end sourcing activities (RFx) from initiation through post-implementation, partnering with the Senior Manager to ensure alignment with business requirements, timelines, and procurement objectives
• Coordinate RFx communications, including scheduling and facilitating meetings with vendors and internal stakeholders, and ensuring timely, clear, and consistent engagement throughout the sourcing process
• Contribute to vendor evaluation and selection processes, including supporting proposal analysis, scoring, and recommendations to drive informed decision-making and optimal commercial outcomes

Benefits

• Discretionary variable incentive plan

What This Job Offers

• Job Type: Full-time
• Career Level: Senior