Vendor Manager - Toronto, ON

Scotiabank•Toronto, ON

9d•Onsite

About The Position

Responsible for developing and maintaining strategic relationships with market data vendors and internal stakeholders to ensure alignment with business and technology objectives. The role ensures services are delivered cost-effectively while mitigating regulatory, financial, and reputational risks. The incumbent manages a portfolio of vendor relationships through the full contract lifecycle while leading a team of Vendor Managers, providing leadership, guidance, coaching, and oversight to support the successful delivery of departmental objectives.

Requirements

5 years of experience in financial services, market data management, vendor management, procurement, contract management, or a related discipline.
Proven experience managing vendor relationships and negotiating commercial agreements.
Strong understanding of contract lifecycle management, vendor governance, and third-party risk management practices.
Knowledge of market data licensing models, vendor services, and financial information providers.
Demonstrated financial acumen, including budgeting, forecasting, spend management, and cost optimization.
Strong analytical, problem-solving, negotiation, and project management skills.
Excellent verbal and written communication skills with the ability to influence stakeholders at multiple levels.
Ability to manage multiple priorities in a complex and fast-paced environment.
Strong organizational skills, attention to detail, and sound business judgment.

Responsibilities

Manage strategic vendor relationships and partnerships, ensuring alignment with business objectives, service expectations, and contractual commitments.
Lead vendor performance reviews, issue resolution, contract discussions, and commercial negotiations to optimize value and service delivery.
Provide subject matter expertise on vendor selection, licensing, contract terms, market data services, and industry trends.
Oversee vendor lifecycle activities, ensuring compliance with enterprise policies, governance standards, contractual obligations, and regulatory requirements.
Identify, assess, and manage vendor-related operational, financial, compliance, and licensing risks, including issue escalation and remediation.
Support audits, regulatory reviews, and continuous improvement initiatives to strengthen controls, efficiency, and governance practices.
Maintain controls and processes to support licensing compliance and mitigate vendor-related operational, financial, and regulatory risks.
Manage vendor contracts, renewals, licensing agreements, and commercial negotiations to ensure business value and contractual compliance.
Monitor vendor spend, utilization, invoices, and financial commitments, ensuring accuracy, cost-effectiveness, and budget alignment.
Develop business cases, financial analyses, forecasts, and reporting to support decision-making and cost optimization initiatives.
Lead and support vendor-related projects, sourcing activities, contract renewals, service changes, and strategic initiatives.
Partner with business and technology stakeholders to evaluate requirements and identify appropriate vendor solutions.
Maintain vendor documentation, reporting, and analysis related to spend, contract status, utilization, and risk metrics.
Act as a subject matter expert on market data licensing, vendor agreements, and commercial practices.
Manage new vendor engagements, contract amendments, renewals, vendor rationalization activities, and issue resolution efforts.
Conduct benchmarking, market research, and vendor assessments to identify opportunities for improved value and service delivery.
Participate in governance forums, contribute to process improvements, and provide guidance and knowledge sharing across the team.
Provide guidance and mentorship to junior team members and assist with knowledge transfer activities as required.
Manage a portfolio of market data vendors with varying levels of complexity, spend, and strategic importance across multiple business areas.
Operate with a high degree of autonomy while collaborating with stakeholders across business, technology, sourcing, legal, risk, and compliance functions.
Provide market data and vendor management expertise, influencing business decisions through analysis, recommendations, and relationship management.