Vendor Manager

ProViso Staffing; Toronto; On-site; CAD 80,000 - 100,000; Full time

Job summary

A staffing solutions provider is seeking a Vendor Management professional in Toronto. The role involves managing vendor relationships, ensuring compliance with regulations, and overseeing risk. Ideal candidates have 5 years of vendor management experience in the banking sector and strong negotiation skills. The position offers a contract for 18 months within a leading financial institution.

Qualifications

• 5+ years of vendor management experience ideally in the Banking industry.
• Strong understanding of contractual terms and their commercial implications.
• Ability to work under pressure and manage multiple priorities.

Responsibilities

• Lead vendor performance monitoring and risk management.
• Facilitate contract renewal and negotiation processes.
• Ensure compliance with Third-Party Risk Management policies.

Skills

Vendor management

Negotiation skills

Relationship building

Communication skills

Project management

Regulatory knowledge

Education

Undergraduate degree or equivalent

Tools

MS Office Suite

Vendor management tools

Job description

Candidate profile details :

Degree / Certifications Required : UG

Years of experience : 5yrs +

Interaction with Stakeholders : 50%

Project Scope : BAU operations of VMO

Team Size : 3ppl within a team of 12 ppl

Selling Points of Position : Working within a leading FI organization

Background :

Experience : 5 yr of vendor management in the Banking industry ideally

Summary of day to day responsibilities :

The Business Banking VMO supports a dozen LOBs under the Business Bank umbrella including Merchant Solutions, Auto Finance, Equipment Finance, Credit, Commercial Banking and Commercial Mortgage, to name a few. The BB VMO resides within the larger Canadian Personal Banking and Business Banking VMO under the Enterprise VMO of the bank.

Job Description :

• Thought leader and strategic thinker, with a future-focused mindset on how to drive the business forward.
• Facilitate phases of the Third-Party Risk Management Lifecycle, and ensure compliance with TPRM Policy, Standards and Framework.
• Accountable and responsible for timely completion of Third Party Inherent Risk Assessments for new / change third party relationships and other required assessments and deliverables, including review / approval from key stakeholders.
• Accountable and responsible for monitoring vendor performance and risk, via reporting / dashboards / governance routines.
• Accountable and responsible for risk and issue management, escalating and tracking vendor issues per TPRM Issue management requirements, partnering with the business to drive remediation plans.
• Manage and drive timely renewal of all contracts; Participate in / facilitate contract renewal and negotiation process, working with internal partners (Legal, Sourcing, Contracts) as well as business partners to ensure contracts and agreements maximize our values, meet business objectives, regulatory requirements, mitigate risks and meet bank’s policies and standards.
• Possess a strong understanding of contractual terms and conditions, and their commercial implications to the business to effectively manage vendor agreement(s) and relationship(s) and ensure adherence to contractual requirements.
• Lead the assessment / development of SLA’s, standards, policies, procedures and compliance monitoring plans that maximize customer satisfaction, decrease risk and / or mitigate to the maximum of availability, efficiency and effectiveness.
• Collect / Review / Assess audit documentation (i.e. CSAE3416, SOC I / II) and determine next steps for remediation of gaps.
• Provide oversight to ensure organized storage of evidence of all activities for audit readiness.
• Provide oversight in support of invoice processing, ensuring procedures are in place, including billing, invoicing, rebates, performance / penalty adjustments and internal charge backs, where appropriate.
• Closely monitor vendor spend (costs), proactively identifying opportunities to improve cost effectiveness and trends against budget forecasts.
• Maintain a strong understanding of the Bank’s vendor management tools including Enterprise Spend Portal (ESP), Enterprise Contract Management (ECM), Hiperos, etc.
• Maintain and ensure satisfactory Internal and External Audits & Compliance requirements are met.
• Build / foster solid relationships and organizational alignment with our business, sourcing, legal and contract partners, ensuring communication channels exist, attending / facilitating meetings and participating in working sessions.
• Provide effective day-to-day coaching and guidance to colleagues; share and teach best practices.
• Act as the leader in administering change management, performance management and the talent pipeline for the development of the team.

Job Requirements :

Highly professional with established relationship building with previous Vendor Management experience and / or working with Third-Parties – MUST HAVE.

Comfortable with legal language and able to fully understand contract contents – Must Have.

Ability to manage multiple Vendor relationships simultaneously – MUST HAVE.

Excellent communication, presentation and negotiation skills.

Excellent documentation skills; understands the importance of organized evidence storage to ensure audit readiness.

Ability to build effective working relationships with internal and external partners at all levels.

Strong project management, organization and time management skills.

Ability to work well under pressure and within tight timelines.

Ability to multitask, manage competing priorities effectively.

Demonstrated influencing, negotiation, analytical and presentation skills.

Demonstrated stakeholder / relationship management and networking skills.

Strong control environment mindset.

Ability to create partnership and cross functional alignment.

Strong ability to lead by influence.

Ability to navigate through a complex compliance framework and make it “friendly” for the LOBs.

Strong negotiation skills.

Good working knowledge of Bank’s sourcing process and methodology – PREFERRED.

Strong knowledge of the bank’s organizational structure including main business groups and their functions- PREFERRED.

Must have :

Vendor management 5yrs.

Regulatory.

Governance / control / Risk oversight function 5yrs.

Contractual language exp (understand contract verbiage).

Ms office suite.

Nice To Have :

Banking.

Ariba / Coupa / Archer.

Job Details

Job ID : 13142

Type : Contract

Duration : 18 months

Location : Toronto

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