Procurement Specialist - 87317

Procurement Specialist - 87317

Duration: 6-month contract (possible extension or conversion to permanent)

Location: Toronto (3 days onsite)

Pay: $41.00/hr - $50.00/hr

Job Description

Strategic Leadership & Advisory

• Act as a trusted advisor to business partners, primarily within People & Culture.

• Influence and negotiate to achieve business and cost management objectives.

• Recommend and implement sourcing solutions based on strategic analysis.

• Assist in developing long-term sourcing plans aligned with enterprise goals.

• Identify emerging trends and issues to inform decision-making.

Sourcing Strategy & Execution

• Lead end-to-end sourcing initiatives, including competitive events (RFI/RFP), supplier selection, and contract negotiations.

• Develop and execute category management frameworks and sourcing strategies.

• Conduct market assessments to identify preferred suppliers and evaluate risk.

• Apply disciplined procurement methodologies and ensure compliance with policies.

• Manage multiple sourcing projects simultaneously, resolving conflicting priorities.

Supplier Relationship & Risk Considerations

• Build strong relationships with internal stakeholders and external suppliers.

• Collaborate with suppliers to create value, drive innovation, and mitigate risk.

• Incorporate supplier risk assessments results into agreements, working with colleagues in Legal & Regulatory Compliance, and Risk Support Areas (RSAs) and engaging with Third Party Risk support teams. • Maintain awareness of supplier performance and consider controls in contracts to ensure alignment with the bank's standards.

Data-Driven Insights & Continuous Improvement

• Conduct analysis to inform strategic recommendations and develop business cases.

• Use performance metrics and dashboards to track progress and identify opportunities, including a sourcing pipeline of supplier agreements.

• Brings a mindset of continuous improvement and change leadership, proactively identifying opportunities to enhance processes and drive meaningful impact.

• Stay current on leading procurement practices and sourcing methodologies.

Must Have Skills:

• 5+ years of relevant experience in strategic sourcing, procurement, and contract negotiations

• Strong knowledge of sourcing/procurement processes and controls.

• Skilled in contract negotiation, business analysis, and project delivery.

• Comfortable making data-driven decisions and synthesizing insights from research.

• Proficient in Excel and data analysis.

• Ability to build a strategic plan based on analysis without much oversight

• Able to lead an end-to-end sourcing and contract negotiation process

• Experience in a large complex organization and regulatory environment

Nice to Have Skills:

•Experience in a banking/financial institution background strongly preferred.

• Post-secondary degree in a related field or equivalent combination of education and experience.

Aptitude requirements - must be assertive, with excellent contract knowledge, ability to influence offers for desired results, working with senior stakeholders