Director Procurement

Canadian Imperial Bank of Commerce; Toronto; Hybrid; CAD 100,000 - 130,000; Full time

Job summary

A prominent Canadian bank in Toronto is seeking a Director for its Procurement Team. This role involves managing a procurement portfolio, developing strategic sourcing initiatives, and fostering relationships across various functional groups. The ideal candidate will have extensive experience in sourcing and supplier management, excellent communication skills, and a commitment to collaboration. This position allows for a hybrid work arrangement, balancing remote and on-site work for optimal performance.

Benefits

Competitive salary

Benefits program

Defined benefit pension plan

Employee share purchase plan

Vacation offering

Wellbeing support

Social recognition programs

Qualifications

• Experience in supplier selection and contracting.
• Able to develop strategic recommendations.
• Strong ability to dive into details and resolve issues.
• Capable of communicating complex information clearly.
• Experienced in leading and fostering collaboration.

Responsibilities

• Manage procurement portfolio effectively.
• Develop and execute sourcing and negotiation strategies.
• Support team management and oversight activities.
• Build and maintain effective relationships with stakeholders.
• Ensure accurate information for decision-making.

Skills

Sourcing lifecycle experience

Strong communication skills

Leadership and accountability

Critical thinking

Collaboration

Values-driven

Job description

Overview

We’re building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what’s right for our clients.

At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute.

To learn more about CIBC, please visit CIBC.com

What you’ll be doing

Procurement’s core mandate is leading the sourcing and contracting of third parties to deliver services to CIBC lines of business and functional groups, doing so in a manner that meets business objectives while mitigating risks and maximizing benefits. The Corporate Functions Procurement Team is responsible for supporting a wide range of functional groups within the organization, including HR, Real Estate, Marketing and Communications, Risk, Finance, and others. The team consists of four Directors, each of whom is accountable for a portfolio of one or more functional groups, providing relationship management and strategic direction for each portfolio. The Directors are supported by a team of Procurement Leads, who are generally responsible for executing specific transactions.

As Director, you will primarily be responsible for managing a portfolio (initially supporting the HR team). This includes development and maintenance of a your pipeline, developing and executing strategies with respect to particular suppliers, services, and categories, and leading or overseeing complex initiatives. You will work with your Senior Director and each of your peer Directors to support the overall goals, targets, and strategic priorities of the team (including achieving savings, performance, and compliance targets and supporting transformational initiatives). Although you will not have direct reports, you will be responsible for supporting overall team management and overseeing the work of team members supporting your portfolio.

At CIBC we enable the work environment most optimal for you to thrive in your role you’ll have the flexibility to manage your work activities within a hybrid work arrangement where you’ll spend 1-3 days per week on-site, while other days will be remote.

How you’ll succeed

• Relationship Building – You will develop and maintain relationships with your peers, within your portfolio (executive and non-executive levels), risk group stakeholders, and suppliers.
• Communication – You will interact on a regular basis with roles in the line of business up to and including the Executive level, for purposes of fulfilling those clients sourcing and contracting needs with suppliers. You will work closely with suppliers when implementing a sourcing strategy and work towards finalizing a sourcing deal with the supplier under a contract.
• Sourcing and Negotiation strategy – You demonstrate leadership in the development and execution sourcing and negotiation strategies in alignment with business objectives.
• Coach and Mentor – Although not a people leader role, you will support the people leaders in management of the broader team. This includes responsibility for oversight, training, and coaching of individual team members, both generally and in the context of specific transactions. In doing so, you will work to build trust, foster collaboration, and create an inclusive, positive work environment.
• Administration – Ensuring that business stakeholders and your partners in Procurement are equipped with accurate and timely information to make informed decisions.

Who you are

• You can demonstrate experience in all aspects of the sourcing lifecycle, including developing and refining sourcing opportunities, supplier selection (e.g., RFPs), negotiation, and contracting.
• You are a bold and accountable leader. You have experience developing strategic recommendations, securing leadership buy-in, and driving execution through cross-functional teams.
• You understand that success is in the details. You notice things that others don’t. Your critical thinking skills help to inform your decision making. As much as you are comfortable at the strategic and conceptual level, you are equally comfortable diving into the details to uncover opportunities and resolve issues.
• You give meaning to data. You enjoy investigating complex problems and making sense of information. You're confident in your ability to communicate detailed information in an impactful way.
• You're driven by collective success. You know that collaboration can transform a good idea into a great one. You understand the power of an inclusive team that enjoys working together to bring a shared vision to life.
• Values matter to you. You bring your real self to work and you live our values – trust, teamwork and accountability.

#LI-TA

What CIBC Offers

At CIBC, your goals are a priority. We start with your strengths and ambitions as an employee and strive to create opportunities to tap into your potential. We aspire to give you a career, rather than just a paycheck.

• We work to recognize you in meaningful, personalized ways including a competitive salary, incentive pay, banking benefits, a benefits program*, defined benefit pension plan*, an employee share purchase plan, a vacation offering, wellbeing support, and MomentMakers, our social, points-based recognition program.
• Our spaces and technological toolkit will make it simple to bring together great minds to create innovative solutions that make a difference for our clients.
• We cultivate a culture where you can express your ambition through initiatives like Purpose Day; a paid day off dedicated for you to use to invest in your growth and development.

*Subject to plan and program terms and conditions

What you need to know

• CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contact [e-mail]
• CIBC is committed to clarity in our hiring process. All roles posted are opportunities we’re actively recruiting for, unless stated otherwise.
• You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit.
• We may ask you to complete an attribute-based assessment and other skills test (such as simulation, coding, French proficiency).
• We use artificial intelligence tools during the recruitment process. Our goal for the application process is to get to know more about you, all that you have to offer, and give you the opportunity to learn more about us.

Job Location

Toronto-81 Bay, 14th Floor

Employment Type

Regular

Weekly Hours

37.5

Skills

Corporate Services, Financial Reporting and Analysis, Legal Experience, Management Reporting, Negotiation, Procurement, Procurement Services, Project Management, Reporting and Analysis, Sourcing and Procurement, Stakeholder Management, Stakeholder Relationship Management, Strategic Objectives, Vendor Management, Vendor Relationship Management, Work Collaboratively