Senior Manager, Procurement & Third-party Risk (LCC)

We are currently seeking a Senior Manager, Procurement & Third-Party Risk to join our team for a temporary 18-month term.

The Senior Manager, Procurement & Third-Party Risk has organization-wide responsibility for the strategic leadership of the sourcing, procurement, contracting, and Third-Party Risk Management (TPRM) function by working closely with internal and external stakeholders to understand business requirements and to ensure compliance with First West's relevant framework. This position leads the development, strategy, and oversight of procurement programs and projects. The Senior Manager, Procurement & Third-Party Risk ensures the procurement function is operating like a well-run professional services business and drives innovation and efficiencies (both cost and operational) for the organization. This role is also responsible for all of First West's critical high-risk third-party arrangements.

Here's what would be included as a part of your typical day

1. Framework Implementation & Oversight: Develops and champions a strategic procurement framework across the organization, such as the Third-Party Risk Management (TPRM) program to ensure compliance with the Office of the Superintendent's (OSFI) B-10 Guideline and minimize risk for the organization. Directs performance measurement targets/SLAs for critical high-risk third parties and reports on performance against such targets to various governance groups on a regular basis (including the Operational Risk Management Committee). Uses best industry practices and regulatory standards to not only serve the business, but to drive the business forward.
2. Strategic Procurement: Works closely with internal and external stakeholders to maintain a best-in-class procurement framework and continuously seeks to drive innovation, change, and process improvements to generate benefits for the organization (with a strong focus on cost-effectiveness and operational efficiency). Through the development of a procurement business strategy and setting high standards, this role ensures the procurement function is operating like a well-run professional services business and promotes the value of procurement.
3. Expense Controls Leadership:Provides ongoing opportunity analysis to identify projects and business processes that will deliver significant cost savings and value improvement - through activities such as negotiations, annual financial budget planning and monitoring involvement, cross-department review of expenditures for cost savings, and validating value output assumptions of purchases post-contract.
4. Project Management: Leads critical high-risk procurement projects and Request for Proposals (RFPs) for the organization, including but not limiting to developing, executing, and maintaining all relevant project documentation and frequent reporting to the respective Executive Steering Committee. Provides governance post-contract through ad hoc audits of implementation/deliverables of significant third-party investments.
5. Risk Management & Compliance: Directs and supports all regulatory (ie. OSFI) related requirements to be met satisfactorily including but not limited to developing, monitoring, and reviewing relevant PGPPs related to procurement. Primarily responsible for the organization's compliance to OSFI's B-10 Guideline and actively participates in OSFI reviews/requests when related to TPRM. Coordinates with Risk and Internal Audit on special audit/compliance projects in the function as required and reports to various governance groups on a regular basis (including the Operational Risk Management Committee).
6. Contract Negotiation: Maintains robust partnerships with critical high-risk third parties to ensure First West always attains the optimum cost of ownership while also contributing to the organization's bottom line and ensuring a mutually beneficial partnership with third parties. Provides strategic leadership on contract renewals/extensions and terminations across the organization.
7. Leadership & Team Management: Provides leadership and direction to the team; including recruitment, on-boarding, training, skill enhancement, career development, coaching, and performance management. Ensures services are delivered effectively and efficiently within established timeframes. Establishes short and long-term procurement goals and objectives, focused on cost-effectiveness and operational efficiency, aligned with corporate strategic initiatives. Plans team structure and resources to meet existing and future procurement needs.
8. Relationship Building: Cultivates strong relationships with key partners and stakeholders across the organization, understanding their unique needs and dynamics to ensure procurement is adding value to the overall business. Ensures excellent customer service, continuous improvement, and strategic and tactical planning. Leads the procurement function with a demonstrated ability to develop close relationships between functional stakeholders.

Required Skills, Experience & Qualifications

• Bachelor's Degree required.
• MBA, PMP, SCMP, CPSM, CSCP, or other designations preferred.
• Minimum 7 years purchasing/procurement experience required.
• Minimum 3 years supervisory experience required.
• Experience writing and reviewing contracts required.
• Experience leading major procurement projects (RFPs, RFIs and/or RFQs) required.
• Knowledge of the OSFI regulations preferred.
• Exceptional written and verbal communication skills with demonstrated ability to interact at all levels internally and externally, including senior stakeholders.
• Ability to work well under pressure to effectively meet deadlines/organizational requirements.
• Proven ability to demonstrate independent decision-making, judgment, relationship building and collaboration.
• Experience developing and/or improving PGPPs.
• Strong people leadership skills.
• Strong analytical and financial skills.
• Proficient in Word, Excel, PowerPoint and Outlook.
• Proven ability to negotiate and manage contracts effectively.
• Strong ability to manage projects effectively.
• Considerable knowledge of risk management and regulatory compliance.
• Displays an understanding of risk and risk ownership by being able to demonstrate adherence to policies and procedures.