Sourcing Associate

BMO Financial Group; Toronto; On-site; CAD 60,000 - 112,000; Full time

Job summary

An established industry player is seeking a Procurement Specialist to drive innovative sourcing strategies that align with business objectives. In this role, you will manage sourcing projects, conduct supplier negotiations, and analyze market trends to optimize procurement processes. You'll work closely with stakeholders to ensure alignment and drive cost management initiatives. This position offers a dynamic work environment where your contributions will directly impact the organization’s success. Join a team that values collaboration and innovation, and take your career to the next level in a supportive and inclusive workplace.

Benefits

Health Insurance

Tuition Reimbursement

Accident and Life Insurance

Retirement Savings Plans

Performance-Based Incentives

Discretionary Bonuses

Flexible Work Arrangements

Employee Discounts

Wellness Programs

Professional Development Opportunities

Qualifications

• 4-6 years of relevant experience in strategic sourcing or procurement.
• In-depth knowledge of sourcing processes and risk requirements.
• Experience in financial services or technology industries.

Responsibilities

• Manage sourcing strategy projects and supplier negotiations.
• Conduct market assessments and develop strategic recommendations.
• Collaborate with stakeholders to implement sourcing strategies.

Skills

Strategic Sourcing

Supply Chain Management

Negotiation Skills

Analytical Skills

Project Delivery Practices

Excel and Spreadsheet Analysis

Collaboration Skills

Communication Skills

Data-Driven Decision Making

Risk Management

Education

Post-Secondary Degree in Related Field

Tools

Sourcing/Procurement Systems

Job description

Application Deadline:

05/13/2025

Address:

250 Yonge Street

Job Family Group:

Procurement

Works with stakeholders to develop and implement innovative sourcing and demand management strategies to achieve business and cost management objectives and minimize risk associated with BMO’s supplier spend.

• 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.
• Conducts analysis to inform strategic recommendations; develops business cases to assess opportunities.
• Supports the execution of strategic initiatives in collaboration with internal and external stakeholders.
• Provides market assessment to identify preferred suppliers.
• Perform Initial Supplier Risk Assessment
• Plans and conduct sourcing events (e.g. RFI, RFP, contract negotiation/renewal, etc.)
• Supports the development and promotion of a business/group program.
• 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.
• Exercises judgment to identify, diagnose, and solve problems within given rules.
• Works independently on a range of complex tasks, which may include unique situations.
• Broader work or accountabilities may be assigned as needed.

  Qualifications:

• Typically between 4 - 6 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.
• Knowledge of 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.
• Financial Services, Financial or Cost Management experience.
• Knowledge of the group/business environment and processes and procedures.
• Has experience in compiling, synthesizing and drawing insights from a variety of research sources.
• Technical proficiency gained through education and/or business experience.
• 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.

Salary :

$60,000.00 - $111,700.00

Pay Type:

Salaried

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit:https://jobs.bmo.com/global/en/Total-Rewards

About Us

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

To find out more visit us at https://jobs.bmo.com/ca/en .

BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.