Senior Manager, Vendor Strategy and Governance

Financial Services Regulatory Authority (FSRA)•Toronto, ON

1d•CA$106,462 - CA$156,462•Onsite

About The Position

At FSRA, our vision is to ensure financial safety, fairness, and choice for Ontarians. As a financial services regulator, we’re passionate about protecting consumers. Our principles-based approach means we can quickly and effectively respond to the changing needs of consumers and the industry. Our team combines industry expertise with commitment to public service. We attract individuals who are interested in meaningful work and who measure success through outcomes, not inputs. At FSRA, we invest in the personal and professional growth of our team. We offer a competitive compensation package that includes an employer-matched defined benefit pension plan, and a comprehensive and competitive benefits plan. We prioritize learning and development, wellbeing, diversity, equity, inclusion and belonging, and community giving. Join FSRA and help us shape the future of regulation for generations to come! Job Description: EXISTING VACANCY Salary Range - $106,462 -$156,462 (salary will be determined based on the successful candidate's skills, experience and qualifications) PURPOSE OF POSITION To establish and lead FSRA’s enterprise-wide vendor strategy, governance, and third-party risk framework, with accountability for vendor performance, contractual value, and alignment to organizational priorities. The role provides strategic oversight and decision-making authority across all vendor engagements to ensure effective risk management, financial stewardship, and delivery outcomes ensuring effective risk management, financial stewardship, and delivery outcomes across all business units and functions at FSRA, supporting enterprise transformation objectives.

Requirements

Minimum of 7+ years of progressive experience in vendor management, supplier governance, or third-party risk management, including experience operating at a strategic or enterprise level.
Strategic thinker with the ability to champion vendor management strategies across the organization, influencing decision-makers and fostering alignment with business objectives.
Strong understanding of supplier risk management, third-party risk assessments, and process optimization strategies.
Familiarity with ISO standards, TPRM frameworks, COSO ERM, SRM, Balanced Scorecard, and CLM best practices and contract law.
Demonstrated expertise in business management, project management, change management, and process development.
Exceptional stakeholder and relationship management skills, effectively collaborating with senior executives and cross-functional teams and with a demonstrated deftness in mediating challenging situations between external vendors and internal stakeholders.
Ability to build and maintain objectivity, remaining unbiased, in the pursuit of delivery excellence.
Strong analytical and problem-solving abilities with a focus on continuous improvement and operational excellence, including analyzing vendor performance data, trends, and data-driven decisions.
Excellent verbal and written communication skills, including presentation and facilitation capabilities for effective communication with vendors and internal stakeholders.
Sound financial acumen to understand financial implications of vendor contracts.
Ability to independently manage competing priorities with sensitivity to internal stakeholders and deadlines.
Exceptional organizational skills, time management abilities, and attention to detail.
Demonstrated sound judgment and political acuity to maintain the confidentiality of sensitive information.
Results-oriented mindset with demonstrated abilities in operational excellence and driving continuous improvement working both independently and collaboratively to move projects forward.
Ability to build/maintain the market reputation of FSRA as a fair, collaborative and results-oriented partner.
Advanced proficiency in Microsoft Office Suite (Excel, Word, PowerPoint, Outlook, MS Teams) and experience with reporting tools like Power BI.

Responsibilities

Provides enterprise functional leadership for vendor governance frameworks, standards, and practices across all business units.
Acts as the central authority and single point of accountability for enterprise vendor governance, performance, and third-party risk oversight.
Provides independent challenge and has authority to escalate or halt vendor engagements, vendor selection, performance, cost structures, and contract terms.
Accountable for corporate vendor risk posture, ensuring alignment with Third-Party Risk Management (TPRM) and Enterprise Risk Management (ERM) frameworks.
Influences and advises senior leadership and executives on vendor strategy, sourcing decisions, and contractual commitments.
Ensures consistency and compliance in vendor practices across the organization, with authority to escalate risks, performance concerns, and non-compliance.
Leads enterprise vendor governance forums and chairs executive-level vendor performance reviews.
Provides corporate oversight of the vendor portfolio, ensuring optimal performance, value realization, and risk mitigation.
Defines and enforces vendor KPIs, SLAs, and outcome-based performance measures to ensure measurable business value.
Directs organizational change initiatives in vendor governance, ensuring clear communication and effective adoption at all levels with a focus on outcomes, accountability, and continuous improvement to maximize business impact.
Establishes structured performance monitoring through scorecards, governance reviews, and escalation mechanisms.
Oversees the full vendor management lifecycle, including sourcing, contracting, onboarding, performance evaluation, issue resolution, and offboarding, with strict adherence to policies and standards.
Evaluates vendor cost structures and proposals, providing strategic challenge and financial oversight to ensure value for money.
Develops and maintains the Enterprise Vendor Management Framework, recommending policy updates to reflect evolving business needs; facilitates cross-functional training to enhance understanding of vendor management processes across the organization.
Critically assesses vendor cost and work estimates to ensure alignment with FSRA’s value expectations and budgetary objectives.
Chairs vendor review meetings, identifying areas for improvement, and collaborating with vendors and internal teams to address issues proactively.
Establishes mechanisms to gather market intelligence from vendors to inform strategic business decisions.
Provides governance oversight and strategic direction for all enterprise vendor contracts, ensuring alignment with organizational risk, legal, and financial standards.
Provides strategic oversight of contract lifecycle management, including negotiation, renewal, and termination decisions.
Partners with Legal, Procurement, Finance, Cybersecurity, and Privacy to ensure contracts align with enterprise risk, compliance, and financial objectives.
Ensures all vendor contracts meet regulatory, legal, and operational standards, including data protection, SOC2, insurance, and residency requirements
Oversees contract performance and compliance, ensuring alignment with agreed terms and organizational expectations.
Accountable for oversight of enterprise vendor spend and value realization across the vendor portfolio.
Drives alignment between vendor strategy and organizational objectives, ensuring vendor investments support long-term enterprise value.
Leads identification of cost optimization opportunities, leveraging enterprise buying power and strategic sourcing approaches.
Partners with Finance and business leaders to ensure vendor commitments align with financial and operational priorities.
Leverages vendor and market intelligence to inform enterprise sourcing strategies.
Establishes and oversees enterprise vendor governance and third-party risk management frameworks, ensuring alignment with ERM, regulatory requirements, and industry standards.
Accountable for enterprise vendor risk posture, including oversight of risk assessments, mitigation strategies, and compliance across all vendor relationships.
Provides strategic advice and recommendations to Executive Leadership Team (ELT) on vendor strategy, risk, and major decisions.
Provides functional leadership across the organization on vendor management practices and governance expectations.
Leads cross-functional collaboration across IT, Procurement, Finance, Legal, Cybersecurity, Privacy and business units.
Acts as a trusted advisor to senior leadership, influencing decisions related to vendor strategy and partnerships.
Manages complex stakeholder environments, balancing business needs with governance and risk requirements.
Ensures vendor strategy supports enterprise transformation initiatives and modernization objectives.
Leverages automation and analytics to provide transparent, real-time performance insights that inform strategic decision-making and drive efficiency.
Designs and implements vendor governance frameworks in accordance with recognized industry standards (e.g., NIST, COSO ERM, Shared Assessments TPRM) and promotes the adoption of structured performance management methodologies such as Supplier Relationship Management and Balanced Scorecard to drive measurable results and continuous improvement.
Oversees vendor performance, administers service level agreements (SLAs), and resolves issues to foster ongoing improvement.
Champions data-driven insights and policy development to position FSRA as a leading partner within the vendor landscape.
Oversees the implementation and Optimization of contract management systems to enhance procurement efficiency.
Partners with cross-functional teams—including Business, Procurement, Finance, Legal, Cyber Security, and Privacy—to provide oversight on RFx activities and contract negotiations.
Leads and coordinates Change Orders and dispute resolution processes between the business and suppliers, ensuring clear and effective communication throughout.