Job Information
Scotiabank Supplier Management Specialist in Toronto, Ontario
Supplier Management Specialist
Requisition ID: 204847
Employee Referral Program – Potential Reward: $1,000.00
We are committed to investing in our employees and helping you continue your career at Scotiabank.
The role:
This role is responsible for building, maintaining and enhancing relationships with IT vendors and internal stakeholders (such as IT leadership and end users). This role serves as liaison to the business. They are tasked with ensuring IT and business requirements align to specifications and priorities, and they are also tasked with arbitration with IT vendors. The role is also responsible for the IT Vendor’s Risk, Performance, Financial and Contract obligations. The Third-Party Advisor – Technology will be responsible for one or more vendor relationships, that includes strategic and non-strategic vendors, with varying level of engagement for each vendor based on the vendor’s Risk and Criticality. Overall, the Third-Party Advisor must ensure that the organization achieves its objectives with vendors as per rights and obligations in our contracts.
The role will manage vendor relationship(s) through all stages of the contract and vendor lifecycle, in alignment with relevant BNS frameworks/methodologies, and with business and enterprise objectives. Provide leadership, direction and coaching to stakeholder teams(s) while partnering with business and executive stakeholders within a line of business. Will facilitate and / or support management of IT vendors (including those that fit the criteria for an “Enterprise” vendor.
What will you do?
Vendor Contracts
Work alongside procurement colleagues to assist with developing contracts and understand any current requests for information (RFIs), requests for quotations (RFQs) and requests for proposal (RFPs) that are in the pipeline.
Adhere to contract management objectives, procedures, templates and workflow processes for vendor contracts and deliverable schedules. Maintain an updated contract management database that contains all executed contracts, as well as contracts that are under development but are not yet active. Moreover, track obligations, deliverables and contract change notices. Manage and control access to documents as appropriate.
Work with legal representatives to develop and insert appropriate legal and commercial protections in contracts, as warranted.
Work with all teams (security, compliance and tax, HR, accounts payable [AP], and so on) to ensure that vendors are performing in accordance with existing requirements and regulatory obligations.
Develop a knowledge base of negotiating strategies, best practices, and negotiation personnel and teams. Make improvements to processes, procedures, workflow and organizational structures for contract management.
Administer commercial and financial arrangements with vendors to include billing, invoicing, performance incentives and remedies, and internal chargebacks, where appropriate.
Work with vendors and key stakeholders to establish clear contract change control processes.
Vendor Management
Understand relevant market trends and vendors. Track, gather and analyze market and industry data and apply learning to improve current vendor arrangements or propose alternative solutions
Effectively communicate a clear and concise contract overview (summary of key contract terms, risks, opportunities and service delivery guidelines) to key stakeholders, and provide clarity on contract elements when required.
Monitor monthly vendor spend against financial plan, including IT&S Project Portfolio, Capex/Opex, Transit & OP
Manage multiple vendor relationships spanning across different service areas, and varying in complexity
Develops proposals/recommendations related to vendor services and practices in connection with the vendor(s)
Deal with a range of complex issues and policies in the management of the vendor(s)
Interpret data and assesses risks associated with policies/programs and provides recommendations/escalates as appropriate
Manage and Report vendor performance and risk at aggregate category and IT&S portfolio level (vs just vendor level)
Proactive identification, mitigation, monitoring, and management/resolution of Third-Party risks, including risks that are specific to an individual vendor (e.g. Financial Health) and external risks (Political, Economic, Social, technological, Legal, Environment) that may impact vendors
Manage the communications process with vendors, utilizing various communication forums with internal and externally facing audiences. Ensuring internal communication alignment and protocol with internal stakeholders for consistent vendor messaging and interactions
IT Governance
Coordinate a consistent set of IT governance standards to ensure Third-Party arrangements are aligned to Technology business objectives including effective and efficient use of IT resources (evaluation, selection, prioritization, and funding of competing IT investments aligned to strategy and standards).• Collaborate with internal stakeholders and external third parties to optimize Scotiabank's 3rd-party IT expenditure, increase velocity and value realization, while mitigating supply and regulatory related risks.
Establish mutually beneficial relationships with third parties through the joint governance process, including collaborating to jointly identify and implement innovation opportunities
Adhere to standardized Third-Party management processes for Technology to comply with TPRM policies and standards
What do you need to succeed?
Lead and drive a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge
Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
Provide guidance to business/functional leaders to ensure escalated concerns/governance issues are appropriately managed
Work closely and effectively with assigned business partners to ensure their requirements are met
Accountable for the quality of advice and support provided to the business and achievement of the lines of business overall objectives in relation to the vendor
What's in it for you?
We have an inclusive and collaborative working environment that encourages creativity and curiosity and celebrates success
We provide you with the tools and technology needed to create meaningful customer experiences
You'll get to work with and learn from diverse industry leaders, who have hailed from top technology companies around the world
We hire you for your talent — not just a job — so you can grow with us. We’ll equip you for success not only in your role, but also in your career as a whole
Dress codes don't apply here: being comfortable does
Access to thousands of online and in-person courses so you can hone your current skills, or learn new ones
A competitive rewards package that includes a base salary, a performance bonus, company matching programs on pension and profit sharing, paid vacation, personal & sick days, medical, vision, and dental and much more
Location(s): Canada : Ontario : Toronto
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.
At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, pleaseclick here (https://www.scotiabank.com/careers/en/careers/technical-support-for-applicants.html) . Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.
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