Procurement Specialist

OVERVIEW

The Procurement Specialist, Sourcing will play a pivotal role in partnering with business stakeholders and executives to develop and implement innovative sourcing and demand management strategies. This position focuses on optimizing costs, mitigating supplier-related risks, and leading the strategic sourcing lifecycle for third-party suppliers, which includes market analysis, competitive sourcing events, contract negotiations, and supplier selection.

The ideal candidate will possess extensive experience in strategic sourcing and procurement, demonstrating a strong ability to build effective relationships with stakeholders. They will thrive in a collaborative environment, managing multiple projects simultaneously while providing insights and recommendations that align with business objectives. Proficiency in negotiation and a deep understanding of sourcing processes in the financial services or technology industries will be key to success in this role.

Location: Toronto, ON (Hybrid)

Contract Length: 6 months, with a possibility of extension or conversion to FTE

Hours: 37.5 hours per week, 9am-5pm ET

Pay: T4 $48-50 // IC: $55-57

RESPONSIBILITIES

• Develop category and sub-category sourcing strategies, including supplier selection, due diligence, and contract negotiations to achieve targeted savings and business objectives.
• Build and maintain effective relationships with internal and external stakeholders, ensuring alignment and understanding of business partner needs and expectations.
• Provide guidance on the implementation of category and supplier strategies, including risk management requirements associated with Outsourcing and Supplier Risk.
• Apply disciplined methodologies and procurement policies to the procurement of goods and services.
• Conduct analysis to develop actionable insights and recommendations that align with project and program goals.
• Collaborate in managing sourcing category initiatives end-to-end, identifying opportunities through analysis of supply markets and supplier performance.
• Work with suppliers to create value and savings while mitigating risks throughout the supplier engagement process.
• Incorporate market-leading processes to drive innovation and maximize overall value for assigned sourcing categories.
• Prepare project plans and keep key stakeholders informed of progress and process.
• Manage multiple programs/projects simultaneously, resolving conflicting priorities and objectives.
• Design and produce regular and ad-hoc reports and dashboards to monitor performance and address issues.
• Lead change management activities, including readiness assessments, planning, execution, and evaluation of initiatives.
• Continuously upgrade knowledge on event and sourcing methodologies, focusing on strategic category development.
• Communicate key messages and recommendations effectively to all managerial levels.
• Conduct independent analysis to resolve strategic issues and inform business decisions.
• Develop and implement sourcing strategies and frameworks, driving end-to-end execution of sourcing category initiatives.
• Identify current and emerging procurement trends and make recommendations for their application.

QUALIFICATIONS

• A minimum of 7 years of relevant strategic sourcing, supply chain, or procurement experience, along with a post-secondary degree in a related field or equivalent combination of education and experience.
• Demonstrated expertise in all areas of sourcing, with in-depth knowledge of sourcing/procurement processes and controls.
• Strong understanding of risk and regulatory requirements within the financial services or technology industries.
• Proficient in business analysis and project delivery practices across the project lifecycle.
• Advanced skills in Excel and spreadsheet analysis.
• Exceptional negotiation skills and the ability to influence stakeholders to achieve business objectives.
• Strong financial services and cost management experience.
• Ability to synthesize insights from various research sources and assess risks effectively.
• Excellent verbal and written communication skills, with strong analytical and problem-solving abilities.
• Proven collaboration and team skills, with a focus on cross-group collaboration.
• Able to manage ambiguity and take initiative while escalating issues when necessary.
• Data-driven decision-making capabilities.

TECHNICAL SKILLS

• Knowledge of sourcing and procurement systems and applications.
• Experience with Coupa or Ariba is a plus.

PREFERRED

• Banking or financial institution experience is highly preferred.
• Project management experience or certification is a plus.
• Experience providing executive-level support is advantageous.

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, disability status, or other non-merit factor. We are committed to creating a diverse and inclusive environment for all employees.