Director, Vendor Management Office

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The Director, Vendor Management Office (VMO) leads a dedicated team of supplier managers and senior supplier managers who are responsible for overseeing hundreds of vendors supporting People, Culture and Brand. The VMO is accountable for third party risk activities, including managing robust third party risk programs for vendors, planning and executing renewal strategies, RFPs, and Market Assessments in close collaboration with Sourcing, Vendor Relationship Managers and Accountable Executives, as well as ensuring effective contract management. This role demands exceptional relationship management, negotiation, and leadership skills, coupled with a strong commitment to continuous improvement and building a VMO office with rigorous controls that align with the bank’s directives for vendor management.

The Director develops, promotes, maintains and manages an assigned business/group vendor management program for the management of partnerships with suppliers/service providers that improve productivity, service delivery and quality. Performs periodic reviews, analyzing program outcomes, providing insights and making recommendations for enhancement and changes as required. Ensures the effective and efficient execution of all program components, including ensuring change management & communications are in place for any enhancements / changes and mitigating any risk. Works collaboratively with internal and external stakeholders.

• Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do.
• Regularly connects work to BMO’s purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.
• Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.
• Attracts, retains, and enables the career development of top talent.
• Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.
• Acts as a trusted advisor to senior leaders for making business decisions and implementing strategic initiatives.
• Develops an expert understanding of business/group challenges.
• Participates in initiatives as a subject matter expert for aspects of vendor arrangements/processes.
• Acts as a subject matter expert on relevant regulations and policies.
• Influences and negotiates to achieve business objectives.
• Identifies emerging issues and trends to inform decision-making.
• Networks with industry contacts to gather competitive insights and best practices.
• Recommends measures to improve organizational effectiveness.
• May consult to or serve on various committees and task forces.
• Manages resources and leads the execution of strategic initiatives to deliver on business and financial goals.
• Recommends business priorities, advises on resource requirements and develops roadmap for strategic execution.
• Acts as the prime contact for internal/external stakeholder relationships, which may include regulators.
• Leads the execution of business/group and/or enterprise vendor management programs/processes; assesses and adapts as needed to ensure quality of execution; develops new capabilities to ensure ongoing success.
• Establishes and maintains governance over vendor management processes.
• Provides specialized support to investigate and resolve complex issues as escalated by end-users or assigned by management.
• Supports management and implementation of documentation / process controls / knowledge assets required for the program operations.
• Coordinates budgets and reporting to track actual results vs budget.
• Prepares financial reconciliations and attestation certificates as required.
• Reviews the vendor management program/processes for effectiveness, considers industry trends and recommends enhancements; makes changes as required.
• Participates in the design and negotiation and renewal of SLAs, TSAs and BPAs. Assess performance against SLAs/ TSAs/ BPAs
• Manages and administers supplier/service provider contracts in accordance with the Bank’s Outsourcing Model .
• Validates, prepares, and tests business continuity and disaster recovery plans for supplier arrangements.
• Develops solutions and makes recommendations based on an understanding of the business strategy and stakeholder needs.
• Provides advice and guidance to assigned business/group on implementation of supplier arrangements.
• Participates in the relationship management between BMO internal business/group partners and suppliers/service providers.
• Supports the management of the vendor program, including developing program components, promoting the program and ensuring the execution of all program components and product(s)/service(s) are delivered according to the contractual service level agreement (SLA), technical service agreement (TSA) or business partner agreement (BPA), in compliance with standards.
• Monitors and tracks supplier performance and addresses any issues.
• Executes work to deliver timely, accurate, and efficient service for routine & non-routine transactions related to the program execution.
• Builds effective relationships with internal/external stakeholders.
• Ensures alignment between stakeholders.
• Breaks down strategic problems, and analyses data and information to provide program insights and recommendations.
• Designs and produces regular and ad-hoc reports, and dashboards.
• Operates at a group/enterprise-wide level and serves as a senior specialist resource across BMO.
• Influences how teams/groups work together.
• Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to multiple, interdependent, complex problems.
• Communicates abstract concepts in simple terms.
• Fosters strong internal and external networks and works with and across multiple teams to achieve business objectives.
• Anticipates trends and responds by implementing appropriate changes.
• Broader work or accountabilities may be assigned as needed.
• Take measured risks while protecting the bank by applying our Risk Management Framework in the execution of your role, in line with our Risk Culture and within our approved Risk Appetite, making sound and risk informed decisions that align to business strategy, protect assets, and adhere to applicable policy documents (Frameworks, Policies, Standards, Procedures and Supporting documents), laws and regulations.

  Qualifications:

• Typically 9+ years of relevant experience and/or certification in related field of study or an equivalent combination of education and experience.
• Knowledge and experience in managing vendor programs - Expert.
• Seasoned expert with extensive industry knowledge.
• Technical leader viewed as a thought leader for innovation.
• Verbal & written communication skills - Expert.
• Analytical and problem solving skills - Expert.
• Influence skills - Expert.
• Collaboration & team skills; with a focus on cross-group collaboration - Expert.
• Able to manage ambiguity.
• Data driven decision making - Expert.

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards

About Us

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one - for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

To find out more visit us at https://jobs.bmo.com/ca/en.

BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.