Senior Partner, Sourcing (20‑Month Contract)

Definity Insurance Company•Waterloo, ON

19h•Hybrid

About The Position

Join a forward-thinking procurement team that plays a critical role in supporting Definity’s Technology Services Organization. We’re looking for a strategic sourcing expert who thrives in a fast-paced, regulated environment and is passionate about delivering value through strong vendor partnerships and risk-aware sourcing. We are seeking a highly motivated and skilled Procurement Sourcing Partner to join our dynamic team supporting the Technology Services department. As a Sourcing Partner, you will be responsible for developing and executing sourcing strategies to ensure the availability of high-quality services for our organization and customers. Your role will involve conducting market research, identifying potential suppliers, facilitating RFx processes, negotiating pricing and contract terms, presenting to executives/steering committees and managing relationships with key stakeholders. The ideal candidate will possess strong analytical abilities, exceptional negotiation skills and a deep understanding of procurement practices. This position is offered in a hybrid work model.

Requirements

Technology procurement (cloud computing, software, data, AI, hosting) experience required
Significant sourcing/procurement experience, strong knowledge of procurement processes, sourcing strategies and contract management principles in one or more of the following areas: Insurance, Technology, Professional Services, Financial Institutions and experience with outsourcing and managed services is an asset
7-10 years’ experience in a similar role within a corporate / business environment with direct experience in negotiating and drafting agreements
An effective communicator, influencer and negotiator with strong interpersonal skills
Solution oriented strategic thinker and demonstrates analytical and problem-solving abilities, with a data-driven approach to decision-making
Proficiency in the development of executive level presentation materials
Negotiation, presentation, facilitation, project management and planning expertise
Highly organized with attention to detail and work effectively in a fast-paced environment, prioritize tasks and meet deadlines
Seasoned procurement professional with a full understanding of applicable legislation and industry best practices related to contract agreements
Completion of post-secondary education (university degree or public college diploma)

Nice To Haves

Experience with outsourcing and managed services is an asset
Experience using a variety of procurement tools including dynamic sourcing tools, auctions, spend analytics, procure-to-pay, contract lifecycle management, vendor management and third-party risk management
CSCMP designation

Responsibilities

Build and execute sourcing strategies for complex and/or high dollar value engagements.
Lead RFx/competitive bid processes including negotiation strategy and/or support on contract negotiations with vendors to deliver value and savings to the organization.
Conduct financial reviews and cost comparisons.
Perform external market and vendor analysis, including analyzing purchasing trends and data.
Establish category strategy.
Collaborate with internal stakeholders to understand business needs.
Liaise with external vendor partners.
Create and deliver presentations to senior leaders and executives throughout the lifecycle of sourcing initiatives.
Collect appropriate artifacts and complete required internal documents to conclude sourcing events (e.g., contract summaries).
In partnership with Legal Services, act as the liaison between internal clients and vendors to resolve problems and/or discrepancies, establish new contracts, renewals or terminations of contracts and interpret terms & conditions to address contractual gaps.
Deliver robust and comprehensive agreements that meet business requirements while mitigating organizational risk.
Proactively plan the contract lifecycle to identify and action renewals in a timely fashion and address any compliance concerns.
In partnership with second line risk functions, act as the liaison between internal clients and vendors to assess and mitigate risk.
Deliver robust and comprehensive agreements that mitigate organizational risk, which includes collecting effective documentation and registering risks that are inherent to the organization across the vendor lifecycle.
Develop and maintain strong working relationships with internal stakeholders and external vendor partners.
Collaborate with cross-functional teams to understand their requirements and provide guidance on sourcing options and identify strategic opportunities.
Independently facilitate information gathering sessions with stakeholders and establish reliable schedules for priority projects/action items.
Self-manage to ensure deliverables are completed within established timelines.
Manage multiple priorities simultaneously while ensuring internal processes are followed to capture status updates and key metrics (i.e., weekly huddle reports, monthly savings tracker, etc.).
Prepare and present presentations on sourcing activities, supplier performance, cost savings and other relevant aspects to senior and executive management.
Conduct comprehensive market research and supplier evaluations to identify potential vendors and assess their capabilities, quality standards, and pricing models.
Analyze market trends, monitor industry developments and identify opportunities for cost savings, process optimization, and risk mitigation.