Strategic Sourcing Manager

BMO (Bank of Montreal)•Chicago, IL

37d

About The Position

Works with stakeholders to develop and implement innovative sourcing and demand management strategies to achieve business and cost management objectives, minimize risk associated with BMO's supplier spend, and ensure robust supplier relationships. This includes directly negotiating with suppliers, providing effective challenge where appropriate to secure optimal outcomes, and overseeing contract management to ensure compliance and value delivery. Acts as a trusted advisor to assigned business/group. Influences and negotiates to achieve business objectives. Recommends and implements solutions based on analysis of issues and implications for the business. Assists in the development of strategic plans. Identifies emerging issues and trends to inform decision-making. Manages and implements sourcing strategy projects throughout their lifecycle, leveraging appropriate systems and tools to ensure accurate and up to date reporting on project progress and issues. Includes competitive events and conducting supplier contract negotiations. Manages sourcing category/supply chain initiatives end-to-end. Develops Category Management Framework and Sourcing Strategy. Directs the development of sourcing strategies/ recommendations. Drives end to end execution of sourcing category initiatives. Helps determine business priorities and best sequence for execution of business/group strategy. Conducts analysis to inform strategic recommendations; develops business cases to assess opportunities. Breaks down strategic problems, and analyses data and information to provide insights and recommendations. Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives. Communicates with stakeholders to reach objectives in a timely manner. Leads the execution of the sourcing strategy including the development and management of the project throughout its lifecycle. Plans and conduct sourcing events (e.g. RFI, RFP, contract negotiation/renewal, etc.) Provides market assessment to identify preferred suppliers. Evaluates and selects Supplier. Performs Initial Supplier Risk Assessment Creates, modifies, renews, terminates contracts as required. Participates in the design, implementation and management of core business/group processes and process improvements. Gather industry knowledge and communicate market trends affecting the assigned spend categories pro-actively to internal stakeholder. Works with stakeholders to develop category and/or sub-category sourcing strategies/opportunities, supplier selection, due diligence and contract negotiations while achieving targeted savings and business objectives. Builds effective relationships with internal/external stakeholders and ensures alignment between stakeholders. Includes developing an understanding of business partner needs and expectations. Provides advice and guidance to assigned business/group on implementation of solutions concerning category and supplier strategies, including the end-to-end risk management requirements associated with Outsourcing and Supplier Risk (OSR). Applies a disciplined methodology and procurement policies to the procurement of goods and services. Conducts analysis and develops insights and recommendations that are actionable in alignment with project/program goals. Develops solutions and makes recommendations based on an understanding of the business strategy and stakeholder needs. Collaborates in the management of sourcing category initiatives end-to-end. Identifies areas of opportunity through analyses of industries and supply markets, cost models for products and services, supplier category spend, and the performance of key suppliers in the market. Work with suppliers to create value/savings and mitigate risk. Incorporates market leading process and practices, to mitigate risk, to drive innovation and to maximize overall value for assigned sourcing categories and portfolios. Identifies, develops and implements demand management and cost reduction opportunities, optimizes sourcing strategies, identifies and mitigates supplier risk and negotiates effective controls all through the supplier engagement process. Prepares project plans and keep key stakeholders informed of the process and progress. Manage multiple programs/projects simultaneously and resolve conflicting priorities and objectives. Designs and produces regular and ad-hoc reports, and dashboards. Uses performance measures to monitor and track performance, and address any issues. Builds change management plans of varying scope and type; leads or participates in a variety of change management activities including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives. Maintains knowledge of leading procurement practices and promote adoption of procurement standards. Continuously upgrade knowledge on event and sourcing methodologies with a specific focus on strategic category development. Effectively communicate key messages/recommendations/results to all managerial levels. Provides input into the planning and implementation of operational programs. Focus is primarily on business/group within BMO; may have broader, enterprise-wide focus. Provides specialized consulting, analytical and technical support. Exercises judgment to identify, diagnose, and solve problems within given rules. Works independently and regularly handles non-routine situations. Broader work or accountabilities may be assigned as needed.

Requirements

Typically between 5 - 7 years of relevant strategic sourcing, supply chain and/or procurement work experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
Experience in most areas of sourcing.
Knowledge of direct sourcing/procurement processes, procedures and controls - In-depth.
Knowledge of relevant risk and regulatory requirements - In-depth.
Knowledge of Sourcing in Financial Services or Technology industries - In-depth.
Knowledge of business analysis, project delivery practices and standards across the project lifecycle - In-depth.
Excel and spreadsheet analysis - In-depth.
Negotiation knowledge, skill and ability - In-depth.
Knowledge of sourcing and procurement systems and applications.
Interpersonal and organizational skills - In-depth
Verbal & written communication skills - In-depth.
Collaboration & team skills - In-depth.
Analytical and problem solving skills - In-depth.
Influence skills - In-depth.
Data driven decision making - In-depth.

Nice To Haves

Financial Services, Financial or Cost Management experience.
Knowledge of the group/business environment and processes and procedures.
Experience in compiling, synthesizing and drawing insights from a variety of research sources.
Demonstrated ability to assess risks including identifying, quantifying and prioritizing risks.

Responsibilities

Acts as a trusted advisor to assigned business/group.
Influences and negotiates to achieve business objectives.
Recommends and implements solutions based on analysis of issues and implications for the business.
Assists in the development of strategic plans. Identifies emerging issues and trends to inform decision-making.
Manages and implements sourcing strategy projects throughout their lifecycle, leveraging appropriate systems and tools to ensure accurate and up to date reporting on project progress and issues. Includes competitive events and conducting supplier contract negotiations.
Manages sourcing category/supply chain initiatives end-to-end.
Develops Category Management Framework and Sourcing Strategy.
Directs the development of sourcing strategies/ recommendations.
Drives end to end execution of sourcing category initiatives.
Helps determine business priorities and best sequence for execution of business/group strategy.
Conducts analysis to inform strategic recommendations; develops business cases to assess opportunities.
Breaks down strategic problems, and analyses data and information to provide insights and recommendations.
Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
Communicates with stakeholders to reach objectives in a timely manner.
Leads the execution of the sourcing strategy including the development and management of the project throughout its lifecycle.
Plans and conduct sourcing events (e.g. RFI, RFP, contract negotiation/renewal, etc.)
Provides market assessment to identify preferred suppliers.
Evaluates and selects Supplier.
Performs Initial Supplier Risk Assessment
Creates, modifies, renews, terminates contracts as required.
Participates in the design, implementation and management of core business/group processes and process improvements.
Gather industry knowledge and communicate market trends affecting the assigned spend categories pro-actively to internal stakeholder.
Works with stakeholders to develop category and/or sub-category sourcing strategies/opportunities, supplier selection, due diligence and contract negotiations while achieving targeted savings and business objectives.
Builds effective relationships with internal/external stakeholders and ensures alignment between stakeholders. Includes developing an understanding of business partner needs and expectations.
Provides advice and guidance to assigned business/group on implementation of solutions concerning category and supplier strategies, including the end-to-end risk management requirements associated with Outsourcing and Supplier Risk (OSR).
Applies a disciplined methodology and procurement policies to the procurement of goods and services.
Conducts analysis and develops insights and recommendations that are actionable in alignment with project/program goals.
Develops solutions and makes recommendations based on an understanding of the business strategy and stakeholder needs.
Collaborates in the management of sourcing category initiatives end-to-end. Identifies areas of opportunity through analyses of industries and supply markets, cost models for products and services, supplier category spend, and the performance of key suppliers in the market.
Work with suppliers to create value/savings and mitigate risk.
Incorporates market leading process and practices, to mitigate risk, to drive innovation and to maximize overall value for assigned sourcing categories and portfolios.
Identifies, develops and implements demand management and cost reduction opportunities, optimizes sourcing strategies, identifies and mitigates supplier risk and negotiates effective controls all through the supplier engagement process.
Prepares project plans and keep key stakeholders informed of the process and progress.
Manage multiple programs/projects simultaneously and resolve conflicting priorities and objectives.
Designs and produces regular and ad-hoc reports, and dashboards.
Uses performance measures to monitor and track performance, and address any issues.
Builds change management plans of varying scope and type; leads or participates in a variety of change management activities including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
Maintains knowledge of leading procurement practices and promote adoption of procurement standards.
Continuously upgrade knowledge on event and sourcing methodologies with a specific focus on strategic category development.
Effectively communicate key messages/recommendations/results to all managerial levels.
Provides input into the planning and implementation of operational programs.
Focus is primarily on business/group within BMO; may have broader, enterprise-wide focus.
Provides specialized consulting, analytical and technical support.
Exercises judgment to identify, diagnose, and solve problems within given rules.
Works independently and regularly handles non-routine situations.