Sr Partner, Sourcing

Definity Insurance Company • Toronto, ON

2d • CA$73,500 - CA$123,500 • Hybrid

About The Position

We are seeking a highly motivated and skilled Senior Procurement Sourcing Partner to join our dynamic team supporting the sourcing and procurement needs of various departments within Definity such as Claims, Technology Solutions as well as Indirect Spend (Corp. Services, HR, Finance, etc.). As a Senior 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.

Requirements

• Significant sourcing/procurement experience, strong knowledge of procurement processes, sourcing strategies and contract management principles in one or more of the following areas: Claims Sourcing: Insurance, Claims, Professional Services, Financial Institutions and experience with outsourcing and managed services is an asset
• Technology Sourcing: cloud computing, software, data, AI, hosting experience required
• Indirect Sourcing: experience supporting business stakeholders within Human Resources, Professional Services, Corporate Services, Finance, Marketing
• 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
• Your negotiation, presentation, facilitation, project management and planning expertise are second to none
• Highly organized with attention to detail and can 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
• High degree of proficiency with English required to service customers, both internal to the company and external, across Canada.
• Successful clearance of background checks (including criminal checks and leadership references).

Nice To Haves

• Insurance industry experience would be preferred
• An asset to have 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
• Completion of post-secondary education (university degree or public college diploma), and potentially CSCMP designation (the latter is an asset but not required)
• French language proficiency (written and verbal) would be beneficial but is not required

Responsibilities

• Build and execute sourcing strategies for complex and/or high-dollar value engagements that include leading RFx/competitive bid processes including the 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.
• Proactive planning of 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.

Benefits

• Hybrid work schedule for most roles
• Company share ownership program
• Incentive Program - Eligible employees may participate in various incentive plans which are paid out at the discretion of the company and subject to individual and company performance.
• Pension and savings programs, with company-matched RRSP contributions
• Paid volunteer days and company matching on charitable donations
• Educational resources, tuition assistance, and paid time off to study for exams
• Focus on inclusion with employee groups, support for gender affirmation surgery, access to BIPOC counsellors, access to programs for working parents
• Wellness and recognition programs
• Discounts on products and services

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: Associate degree