Job Title

Job Summary: The Senior Sourcing Manager is a strategically critical role responsible for managing complex supplier relationships, negotiating high-value contracts, and driving cost reduction initiatives. This individual will leverage their extensive experience in global procurement to develop and execute sourcing strategies that align with long-term business objectives. The role requires a deep understanding of procurement law and regulations, strong negotiation skills, and the ability to lead cross-functional teams through complex sourcing processes. Key Responsibilities: Decision Evaluation and Contract Execution (35%): Identify and analyze strategic issues related to supplier strategies and recommend effective solutions to senior management. Utilize Key Performance Indicators (KPIs) to identify business unit opportunities and optimize service levels across suppliers. Lead complex supplier negotiations to capture savings and manage value-driven negotiations. Negotiate and draft complex supplier contracts, supporting business units in managing supplier relationships and making necessary amendments. Relationship Management (20%): Build and maintain strong relationships with key partners and stakeholders, including executive-level decision-makers. Act as a trusted business partner to influence and guide stakeholders through the sourcing process, securing support for complex decisions. Use networking and market intelligence to forge strategic relationships with key suppliers, negotiating pricing and quality while minimizing risk. Sourcing Strategy Development & Opportunity Assessment (20%): Develop strategic sourcing strategies based on industry analysis and business knowledge. Identify alternative suppliers and create alignment with long-term business strategies. Coordinate external research to assess supply market conditions and address supply chain challenges. Conduct internal spend analysis to identify sourcing opportunities and savings strategies. Governance, Risk, and Controls (10%): Lead sourcing team activities, including RFP development and analysis. Implement global efficiencies and standardized tools and practices in procurement processes. Support KPI and metric reporting to drive insights into business trends. Develop and adhere to financial, fraud-prevention, and risk management controls. Leadership (15%): Lead enterprise and business unit procurement initiatives, providing mentoring and coaching to team members. Ensure team alignment with Leadership Model and targeted behaviors. Achieve individual and team financial targets, including savings objectives. Qualifications & Skills: Experience: 10-15 years of experience in global procurement, sourcing, and relationship management. Proven track record in negotiating contracts with a total value of $3 million or more. Strong business and financial acumen, analytical skills, and negotiation expertise. Experience in leading complex deals and supporting stakeholder interactions. Education: Required: Post-secondary education in Finance, Purchasing, or a related field; Procurement Designation. Preferred: Legal/Paralegal background and IT sourcing experience. Additional Skills: Impact and influence, service-oriented focus, business and financial insight. Strong verbal and written communication skills. Ability to quickly adapt, continuously learn, and unlock the potential of people. Level of Responsibility & Decision Making: Evaluate and select suppliers based on specifications and evaluation criteria. Provide recommendations and advice to stakeholders on supplier selection and strategic sourcing approaches. Develop evaluation models and validate price quotations and specifications. Hiring Manager''s Notes: The ideal candidate should have experience facilitating legal aspects of contracts and understanding clauses related to intellectual property, liabilities, and confidentiality. Experience conducting multiple rounds of vendor negotiations and collaborating with legal teams is crucial. The role demands a unique support model distinct from other banks, emphasizing legal and IT sourcing expertise.