Intermediate Procurement Specialist - financial software sourcing categories 35366

Location Address: Hybrid - 150 King Street W 26th Floor - 3 days/week (flexible on which days - Mon, Wed, Thurs, or Fridays preferable)

Contract Duration: 6 months

Possibility of extension

Story Behind the Need

Business group: Global Procurement Services - third party contracts for global wholesale operations, global transaction banking and global business banking - working on contracts 500k+, multi-year contracts - with large traditional IT vendors or niche suppliers, depending on BL

Project: Required support for large project - to support large sourcing engagements with the payments BL over the next 6 months and can include technology or consulting engagements

The Sourcing/ Procurement Manager/ Specialist is responsible for leading global Software Technology Sourcing and project activities. They will collaborate with Sourcing, business unit leadership and sourcing leaders in pursuit of improvements in quality, innovation, and service levels. They will have the opportunity to improve upon current processes with a goal of centralizing and consolidating company-wide supplier selection. By contributing to a competitive marketplace, the Sourcing Manager will consistently drive reductions in the total cost of perpetual, SaaS and maintenance and software professional services procured.

Responsibilities:

- Major IT Software Sourcing categories maintenance and support services); Software and Cloud

- Triage incoming software sourcing intake request and recommend distribution of software sub-categories such as databases, end user computing, integration, business process management, etc.

- Develop relationships with IT leaders to support enterprise objectives, influence key stakeholders and jointly develop strategic sourcing strategies while collaborating on sourcing initiatives and projects

- Collaborate with Business Unit and Operations leaders to fully understand key business drivers, spend drivers, and achieve required support levels

- Lead business value through the development of high quality and cost effective supply relationships, while pursuing and championing total cost of ownership (TCO) savings directly by savings captured through leveraging Bank-wide purchasing volume, strategic supplier relationships, demand management or indirect savings realized by driving innovation and or enhancing the overall effectiveness of the supply management process

- Directly lead and implement best practices in sourcing initiatives

- Manage SaaS in the technology software sourcing category within and across the Bank’s business segments, and serve as a key contributor to a well-developed and evolving supplier management process

- Track sourcing initiatives for multi-functional stakeholder teams, ensuring effective strategy development, market assessments, RFP processes, contract and supplier negotiation, and supplier management while enabling collaboration and innovation between stakeholders and suppliers

- Proactively work with the Business Line VMOs and contract owners to understand business needs, business strategy, and pipeline of contract renewals to build an overall supplier contract strategy (consolidate and reduce contracts where opportunity exists)

- Identify cost savings opportunities and contribute to drive cost savings across all business segments

Must Haves:

1) 3+ years’ experience as a Sourcing Specialist

2) Experience in sourcing/procurement from technology space (e.g. has worked with Oracle, IBM, CGI, TechM) either working in those organizations or having used the technologies

3) Experience with negotiation - contract negotiation with supplier, as well as internally with stakeholders

Nice-To-Have Skills:

1) Experience from Financial Institutions, can come from tier 2 finance or insurance as well

2) Experience with Coupa

3) Experience with ServiceNow

4) Progressive software technology sourcing experience an asset

Soft Skills Required:

• Strong communication skills (verbal, written)

• Presentation skills (putting together PPT and presenting)

• Good stakeholder management skills (can move things forward with minimal hand holding)

Education:

Bachelor’s degree business, finance, computer engineering or related field

Best VS. Average Candidate:

Progressive software technology sourcing experience an asset, additional to a tradition sourcing/procurement trajectory- someone who can understand and explain the Tech contracts, someone who has been in the Services industry and can understand specialization in financial industry so they can hit the ground running; stakeholder management skills: is able to move the audience along