Job Description:
Job Summary:

• The Senior Sourcing Manager is a strategically critical role responsible for managing complex supplier relationships, negotiating high-value contracts, and driving cost reduction initiatives.
• This individual will leverage their extensive experience in global procurement to develop and execute sourcing strategies that align with long-term business objectives.
• The role requires a deep understanding of procurement law and regulations, strong negotiation skills, and the ability to lead cross-functional teams through complex sourcing processes.

Key Responsibilities:
Decision Evaluation and Contract Execution (35%):

• Identify and analyze strategic issues related to supplier strategies and recommend effective solutions to senior management.
• Utilize Key Performance Indicators (KPIs) to identify business unit opportunities and optimize service levels across suppliers.
• Lead complex supplier negotiations to capture savings and manage value-driven negotiations.
• Negotiate and draft complex supplier contracts, supporting business units in managing supplier relationships and making necessary amendments.

Relationship Management (20%):

• Build and maintain strong relationships with key partners and stakeholders, including executive-level decision-makers.
• Act as a trusted business partner to influence and guide stakeholders through the sourcing process, securing support for complex decisions.
• Use networking and market intelligence to forge strategic relationships with key suppliers, negotiating pricing and quality while minimizing risk.

Sourcing Strategy Development & Opportunity Assessment (20%):

• Develop strategic sourcing strategies based on industry analysis and business knowledge.
• Identify alternative suppliers and create alignment with long-term business strategies.
• Coordinate external research to assess supply market conditions and address supply chain challenges.
• Conduct internal spend analysis to identify sourcing opportunities and savings strategies.

Governance, Risk, and Controls (10%):

• Lead sourcing team activities, including RFP development and analysis.
• Implement global efficiencies and standardized tools and practices in procurement processes.
  Support KPI and metric reporting to drive insights into business trends.
• Develop and adhere to financial, fraud-prevention, and risk management controls.

Leadership (15%):

• Lead enterprise and business unit procurement initiatives, providing mentoring and coaching to team members.
• Ensure team alignment with Leadership Model and targeted behaviors.
• Achieve individual and team financial targets, including savings objectives.

Qualifications & Skills:
Experience:

• 10-15 years of experience in global procurement, sourcing, and relationship management.
• Proven track record in negotiating contracts with a total value of $3 million or more.
• Strong business and financial acumen, analytical skills, and negotiation expertise.
• Experience in leading complex deals and supporting stakeholder interactions.

Education:
Required:

• Post-secondary education in Finance, Purchasing, or a related field; Procurement Designation.
• Preferred: Legal/Paralegal background and IT sourcing experience.

Additional Skills:

• Impact and influence, service-oriented focus, business and financial insight.
• Strong verbal and written communication skills.
• Ability to quickly adapt, continuously learn, and unlock the potential of people.

Level of Responsibility & Decision Making:

• Evaluate and select suppliers based on specifications and evaluation criteria.
• Provide recommendations and advice to stakeholders on supplier selection and strategic sourcing approaches.
• Develop evaluation models and validate price quotations and specifications.

Hiring Manager's Notes:

• The ideal candidate should have experience facilitating legal aspects of contracts and understanding clauses related to intellectual property, liabilities, and confidentiality.
• Experience conducting multiple rounds of vendor negotiations and collaborating with legal teams is crucial.
• The role demands a unique support model distinct from other banks, emphasizing legal and IT sourcing expertise.