Int. Vendor Manager - 55343

Business Unit: Platforms & Technology Governance

Duration: till August 2026

Interview Process: 2 rounds Virtual

Work Location: 12 Concorde Place, Toronto, Ontario ( In office 2 days a week )

Selling Points of Position: Working within a leading FI organization

Background: 5 yr of vendor management in the Banking industry ideally

SUMMARY OF DAY TO DAY RESPONSIBILITIES:

Business Banking provides financial solutions to Canadian businesses of all sizes across a wide range of industries. In pursuit of The Quest, dedicated Better Business Bankers deliver customized solutions to meet the unique needs of our customers. Drawing on a range of products and services including financing, deposit, investment, cash management, international trade and foreign exchange, we provide the right tools and advice to help customers achieve their goals.

The Business Banking VMO supports a dozen LOBs under the Business Bank umbrella including Merchant Solutions, Auto Finance, Equipment Finance, Credit, Commercial Banking and Commercial Mortgage, to name a few. The BB VMO resides within the larger Canadian Personal Banking and Business Banking VMO under the Enterprise VMO of the bank.

Job Description :

• Thought leader and strategic thinker, with a future-focused mindset on how to drive the business forward

• Facilitate phases of the Third-Party Risk Management Lifecycle, and ensure compliance with TPRM Policy, Standards and Framework

• Accountable and responsible for timely completion of Third Party Inherent Risk Assessments for new/change third party relationships and other required assessments and deliverables, including review/approval from key stakeholders

• Accountable and responsible for monitoring vendor performance and risk, via reporting/dashboards/governance routines

• Accountable and responsible for risk and issue management, escalating and tracking vendor issues per TPRM Issue management requirements, partnering with the business to drive remediation plans

• Manage and drive timely renewal of all contracts; Participate in/facilitate contract renewal and negotiation process, working with internal partners (Legal, Sourcing, Contracts) as well as business partners to ensure contracts and agreements maximize our values, meet business objectives, regulatory requirements, mitigate risks and meet policies and standards

• Possess a strong understanding of contractual terms and conditions, and their commercial implications to the business to effectively manage vendor agreement(s) and relationship(s) and ensure adherence to contractual requirements

• Lead the assessment/development of SLA’s, standards, policies, procedures and compliance monitoring plans that maximize customer satisfaction, decrease risk and/or mitigate to the maximum of availability, efficiency and effectiveness

• Collect/Review/Assess audit documentations (i.e. CSAE3416, SOC I/II) and determine next steps for remediation of gaps

• Provide oversight to ensure organized storage of evidence of all activities for audit readiness

• Provide oversight in support of invoice processing, ensuring procedures are in place, including billing, invoicing, rebates, performance/penalty adjustments and internal charge backs, where appropriate

• Closely monitor vendor spend (costs), proactively identifying opportunities to improve cost effectiveness and trends against budget forecasts

• Maintain a strong understanding of the Bank's vendor management tools including Enterprise Spend Portal (ESP), Enterprise Contract Management (ECM), Hiperos, etc.

• Maintain and ensure satisfactory Internal and External Audits & Compliance requirements are met

• Build/foster solid relationships and organizational alignment with our business, sourcing, legal and contract partners, ensuring communication channels exist, attending/facilitating meetings and participating in working session

• Provide effective day-to-day coaching and guidance to colleagues; share and teach best practices

• Act as the leader in administering change management, performance management and the talent pipeline for the development of the team

MUST HAVE:

1.) Vendor management 5yrs

2.) Regulatory

3.) Governance / control / Risk oversight function 5yrs

4.) Contractual language exp ( understand contract verbiage )

5.) Ms office suite

NICE TO HAVE

1.) Banking

2.) Ariba / Coupa / Archer