Senior Manager, Strategic Sourcing

Procurement Specialist

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.

Responsibilities include :

• Collaborate with business / functions to transform their operating models to outsource digitally enabled solutions by leveraging Machine RPA / SaaS, Business Process Improvements and Artificial Intelligence (AI)
• Be integral part of the outsourcing design team when making recommendations on size the deal and target state operating model including offering key insights on geopolitical risks and location strategies
• Contribute outsourcing insights and intelligence to the executive committee by maintaining central reporting of historical outsourcing initiatives, supplier and location concentration risk while assisting in determining future opportunities across the enterprise
• Deliver strategic consulting to internal stakeholders on sourcing frameworks, deal structuring, and supplier negotiations for high-value engagements.
• Present data-driven consulting reports to senior leadership, outlining sourcing strategies, risk assessments, and investment recommendations for complex deals.
• Maintain or refresh Transformation Outsourcing playbooks, Commercial Models & contractual terms / frameworks
• Provides strategic input into business decisions as a trusted advisor.
• Recommends business priorities, advises on resource requirements and develops roadmap for strategic execution.
• Makes recommendations to senior leaders on strategy and new initiatives, based on an in-depth understanding of the business / group.
• Assists in the development of strategic plans. Identifies emerging issues and trends to inform decision-making.
• Acts as a subject matter expert on relevant regulations and policies.
• Influences and negotiates to achieve business objectives.
• 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.
• Networks with industry contacts to gain competitive insights and best practices.
• Develops Category Management Framework and Sourcing Strategy.
• Directs the development of sourcing strategies / recommendations.
• Drives end to end execution of sourcing category initiatives.
• Conducts analysis to inform strategic recommendations; develops business cases to assess opportunities.
• Develops the business case by identifying needs, analysing potential options and assessing expected return on investment.
• Manages resources and leads the execution of strategic initiatives to deliver on business and financial goals.
• Acts as the prime subject matter expert for internal / external stakeholders.
• Defines business requirements for analytics & reporting to ensure data insights inform business decision making.
• Breaks down strategic problems, and analyses data and information to provide insights and recommendations.
• Prepares and presents reports to business / group on key metrics and supplier risks to support better management of costs, risks, as well as provide input in business / group planning for future.
• Leads change management programs of varying scope and type, including readiness assessments, planning, transition, stakeholder management, execution, evaluation and sustainment of initiatives.
• Leads the execution of operational programs; assesses and adapts as needed to ensure quality of execution.
• Develops strategies and approaches to manage risk and support the business strategy and goals.
• Directs supplier contract negotiations. Creates, modifies, renews, terminates contracts as required.
• Identifies current and emerging procurement and outsourcing trends / best practices and makes recommendations on their potential application for the Bank.
• Leads the execution of the sourcing strategy including the development and management of the project throughout its lifecycle.
• Plans and conduct sourcing events (e.g. RFI, RFP, contract negotiation / renewal, etc.)
• Provides market assessment to identify and evaluate preferred suppliers.
• Evaluates and selects Supplier. Performs Initial Supplier Risk Assessment
• Drives process improvement and innovation opportunities in sourcing and / or procurement of goods and services through knowledge of market trends and best practices.
• May provide input into the development of guidelines, policies and standards for the sourcing and / or procuring of goods and services.
• Identifies business needs, designs / develops tools and training programs; may include delivery of training to audiences.
• Reviews the program for effectiveness, considers industry trends and recommends enhancements; makes changes as required.
• 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 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.
• 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.
• Operates at a group / enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders.
• Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.
• Implements changes in response to shifting trends.
• Broader work or accountabilities may be assigned as needed.

Qualifications :