Vendor & Contract Manager

FSRA News; Toronto; On-site; CAD 88,000 - 129,000; Full time

Job summary

A financial services regulator is seeking a Vendor and Contract Manager in Toronto to oversee vendor relationships and ensure compliance with contracts. This role requires expertise in vendor management, strong analytical skills, and the ability to collaborate across functions. Candidates must possess at least 5 years of relevant experience and a postsecondary diploma in a related field. The position promotes continuous improvement and data-driven decision-making in vendor management processes.

Benefits

Competitive compensation package

Employer-matched defined benefit pension plan

Comprehensive benefits plan

Professional growth opportunities

Qualifications

• Minimum of 5 years of progressive experience in vendor management operations.
• Strong understanding of supplier risk management and compliance.
• Proven ability to manage multiple vendor relationships simultaneously.

Responsibilities

• Lead end-to-end vendor management lifecycle.
• Collaborate with Business, Procurement, Finance, Legal, and Cyber Security teams.
• Manage and monitor vendor performance and compliance.

Skills

Supplier risk management

Stakeholder management

Analytical skills

Project management

Change management

Communication skills

Education

Postsecondary diploma in Business Management, Supply Chain Management or related field

Tools

Microsoft Office Suite

Power BI

Excel

Job description

Overview

At FSRA, our vision is to ensure financial safety, fairness, and choice for Ontarians. As a financial services regulator, we’re passionate about protecting consumers. Our principles-based approach means we can quickly and effectively respond to the changing needs of consumers and the industry.

Our team combines industry expertise with commitment to public service. We attract individuals who are interested in meaningful work and who measure success through outcomes, not inputs.

At FSRA, we invest in the personal and professional growth of our team. We offer a competitive compensation package that includes an employer-matched defined benefit pension plan, and a comprehensive and competitive benefits plan. We prioritize learning and development, wellbeing, diversity, equity, inclusion and belonging, and community giving.

Join FSRA and help us shape the future of regulation for generations to come!

Job Description:

Note - This is a temporary role for approximately 18 months

Purpose of Position

The position of Vendor and Contract Manager leads and matures FSRA’s end-to-end vendor and contract management function by providing oversight for the lifecycle of multiple vendor relationships and contracts, establishing strong governance, driving performance oversight, and ensuring alignment with FSRA goals, organizational risk, compliance, and financial standards.

Key Responsibilities

Acting as the central liaison between internal stakeholders and external suppliers, the role is responsible for sourcing, negotiating, onboarding, and managing critical vendor relationships including:

• Leads the end-to-end vendor management lifecycle, including sourcing, contracting, vendor onboarding, performance monitoring, issue resolution, and offboarding.
• Creates an Enterprise Vendor Management Framework and governance; recommend policy updates to reflect business changes and improvements.
• Manages multiple vendors, change requests, performance management and cross-functional dependencies.
• Develops and maintains supplier management policies, procedures, and governance frameworks to ensure vendor compliance with organizational standards.
• Collaborates with Business, Procurement, Finance, Legal, Cyber Security, and Privacy teams on RFx processes and contract negotiations.
• Works with Business, Procurement, Finance, Legal, Cyber Security and Privacy to ensure the best possible outcome in contract negotiation that will protect FSRA against harmful reputational impact caused by the vendors (such as cyber-attack against the vendor, outage, vendor dissolution, legal liability, IP violation by the vendor, indemnity, etc.).
• Develops vendor strategies and fosters strong vendor relationships to ensure compliance with contract terms mitigating potential risks associated with vendor operations.
• Monitors vendor performance, financial status, and SLA/KPI adherence through regular assessments, business reviews, and performance scorecards to ensure alignment with business objectives; tracks adherence to contract provisions such as Certificate of Insurance, SOC2 Certificate, data residency, throughout the life of the contract.
• Performs regular risk assessments on the vendors aligned with the Enterprise Risk Management (ERM) Policy to keep Vendor Risk Assessment up to date.
• Retains objectivity in evaluating ongoing challenges with Vendor delivery or performance and the necessary actions to resolve them.
• Critically assesses and challenges vendor-provided cost and work effort estimates for change requests, new work orders, and other artefacts to ensure alignment with FSRA’s value expectations and budgetary goals.
• Drives and facilitates Change Orders and dispute resolutions between business and suppliers, ensuring transparent and efficient communication.
• Identifies opportunities to improve/enhance existing vendor management processes to be perceived as a “best in class” partner.
• Supports the business in demand planning, budget monitoring, and financial oversight of vendor engagements, ensuring alignment with forecasts and project needs.
• Facilitates internal cross-functional training and enablement sessions to drive awareness and understanding of the Vendor Management role and effective vendor management processes and procedures across the business.
• Champions data-driven insights, policy development, and continuous improvement to position FSRA as a best-in-class partner in the vendor landscape.
• Creates and maintains metrics and data analysis tools (Excel, Power BI) for enhanced vendor performance visibility and strategic decision-making.
• Leads vendor review meetings, objectively identifying areas for improvement, and collaborates with vendors and internal functions to address issues proactively.
• Creates an approach to collect market intelligence from vendors about rates, experience, and expectations to inform business strategies.
• Tracks, creates, and monitors vendor contracts data in Excel and Power BI, ensuring transparency and real-time updates.

Qualifications

Education

• Completion of a postsecondary diploma in Business Management, Supply Chain Management or a related field – or a combination of education, training and experience deemed equivalent.

Experience

• A minimum of 5 years of progressive experience in vendor management operations and supplier governance.

Knowledge and Skills

• Strong understanding of supplier risk management, third-party risk assessments, and process optimization strategies.
• Demonstrated expertise in business management, project management, change management, and process development.
• Strategic thinker with the ability to develop and implement vendor strategies that align with overall business goals; familiar with contract law, contract lifecycle management, and best practices.
• Exceptional stakeholder management skills, effectively collaborating with senior executives and cross-functional teams.
• Exceptional relationship-building and management skills with the ability to mediate challenging situations between external vendors and internal stakeholders.
• Ability to build and maintain objectivity, remaining unbiased, in the pursuit of delivery excellence.
• Strong analytical and problem-solving abilities with a focus on continuous improvement and operational excellence.
• Excellent verbal and written communication skills, including presentation and facilitation capabilities for effective communication with vendors and internal stakeholders.
• Proven ability to manage multiple vendor relationships and projects simultaneously.
• Mature relationship management skills to own senior-level relationships with vendors or vendor pools, acting as a bridge between the Business and the Vendor.
• Sound financial acumen to understand financial implications of vendor contracts and relationships.
• Ability to independently manage competing priorities with sensitivity to internal stakeholders and deadlines in a fast-paced environment.
• Self-starter mindset with a drive for continuous improvement by staying informed on best practices in operational management and technology.
• Exceptional organizational skills, time management abilities, and attention to detail.
• Demonstrated sound judgment and political acuity to maintain the confidentiality of sensitive information.
• Proven track record of managing multiple vendor/supplier relationships critical to cloud and platform technology environments.
• Analytical skills to analyze vendor performance data, identify trends, and make data-driven decisions.
• Results-oriented mindset with demonstrated abilities in operational excellence and working both independently and collaboratively to move projects forward.
• Ability to build/maintain a strong market reputation of FSRA as a fair, collaborative and results-oriented partner.
• Advanced proficiency in Microsoft Office Suite (Excel, Word, PowerPoint, Outlook, MS Teams) and experience with reporting tools like Power BI.

Note: This position will close at 12AM on the expiry date.

Compensation Grade: Grade 07-AMAPCEO

Compensation Range: $88,496.00 - $128,625.00

Bargaining Unit: AMAPCEO

Job Code: 7A001F

Employment Type: Fixed Term (Fixed Term)

Scheduled Weekly Hours: 36.25

FSRA is committed to ensuring equity in employment. Our goal is to create a diverse, inclusive workforce that reflects the communities we serve and to ensure our services and communications are accessible to all individuals. Accommodation is available under the Ontario Human Rights Code.

NOTE: ONLY QUALIFIED CANDIDATES WILL BE CONSIDERED