Senior Manager, Strategic Sourcing

BMO•Toronto, ON

5d•CA$94,600 - CA$176,000

About The Position

The Senior Manager, Strategic Sourcing plays a critical role in leading end to end sourcing for BMO’s external labour category, including professional services, advisory, staff augmentation, technology services and managed services across onshore, nearshore, and offshore models. This role partners closely with business leaders to understand workforce needs, upcoming strategic plans, and transformation initiatives, particularly those tied to external workforce strategy, to execute complex sourcing deals that support enterprise-wide objectives. As a key subject matter expert, the Senior Manager brings deep category expertise, strong negotiation capability, and a stable track record within external labour sourcing, helping shape the future structure of BMO’s workforce sourcing model.

Requirements

Typically 7+ years of relevant strategic sourcing, supply chain and/or procurement experience and post-secondary degree in related field (or equivalent combination of education and experience).
Expertise in all areas of sourcing; in-depth knowledge of sourcing/procurement processes, procedures, and controls.
In-depth knowledge of relevant risk and regulatory requirements; demonstrated ability to assess risks (identify, quantify, prioritize).
Strong negotiation capability (in-depth/expert) and proven supplier contract negotiation experience.
Strong analytical and problem-solving skills; ability to compile, synthesize, and draw insights from a variety of sources; data-driven decision making.
Excellent verbal and written communication skills; influence skills; proven ability to communicate recommendations/results to all managerial levels.
Ability to manage ambiguity; strong collaboration and cross-group partnership skills.
Advanced Excel and spreadsheet analysis skills.

Nice To Haves

Category experience in External Labor, including contingent workforce/staff augmentation and SOW-based professional services sourcing and supplier management.
Experience with external labor program models and tooling (e.g., VMS/MSP environments) and associated governance and performance management.
Experience building and implementing commercial models (e.g., rate cards, markups, outcome-based SOW constructs) and aligning them to service levels and business outcomes.
Demonstrated ability to produce executive-ready strategy and risk summaries for complex, high-value engagements.

Responsibilities

Provides strategic input into business decisions as a trusted advisor and makes recommendations to senior leaders on strategy and new initiatives based on an in-depth understanding of the business/group.
Develops Category Management Framework and sourcing strategies/recommendations, including roadmap, priorities, and strategic execution plan for categories within the External Labor portfolio.
Manages and implements sourcing strategy projects throughout their lifecycle, including competitive events (RFI/RFP), supplier selection, and contract negotiations/renewals.
Conducts market and supply analysis to identify preferred suppliers and optimize supplier mix across staffing firms, niche providers, and SOW partners.
Leads development and ongoing management of External Labor commercial models, including (as applicable): rate cards, markup frameworks, milestone-based SOW pricing, and value-based pricing constructs.
Demonstrate strong knowledge of External Labor practices benchmarked against best‑in‑class standards
Identifies, develops, and implements demand management and cost reduction opportunities while maximizing overall value for assigned categories and portfolios.
Partners with HR/workforce planning and functional leaders to align sourcing strategies to workforce demand signals (e.g., skill scarcity, time-to-fill, capacity constraints, seasonality).
Provides labor market intelligence (skills supply, geographic rate variability, and trends) to inform category strategy, budgeting, and demand shaping.
Evaluates and selects suppliers; performs initial supplier risk assessment and provides input on key supplier risks/metrics.
Develops strategies and approaches to manage risk and support the business strategy and goals; directs supplier contract negotiations and contract lifecycle activities (create/modify/renew/terminate).
Delivers strategic consulting to internal stakeholders on sourcing frameworks, commercial deal structuring, and supplier negotiations for high-value external labor engagements (contingent and SOW).
Prepares and presents data-driven consulting reports to senior leadership, outlining sourcing strategies, risk assessments, and investment recommendations for complex deals.
Contributes category intelligence by maintaining reporting on historical initiatives, supplier concentration risk, and (where relevant) location concentration risk to assist in identifying future opportunities across the enterprise.
Maintains or refreshes category playbooks, commercial models, and key contractual terms/frameworks for External Labor engagements to drive consistency and speed-to-execution.
Manages multiple programs/projects simultaneously; resolves conflicting priorities and objectives.
Operates at a group/enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders; applies expertise to solve complex, non-routine problems and implements changes in response to shifting trends.
Takes measured risks while protecting the bank by applying the Risk Management Framework and making sound, risk-informed decisions aligned to business strategy and policy/regulatory requirements.
Broader work or accountabilities may be assigned as needed.
Maintains knowledge of leading procurement practices and promotes adoption of procurement standards; continuously upgrades knowledge on event and sourcing methodologies.