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Supplier Management Specialist

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Scotiabank

27d ago

  • Job
    Full-time
    Senior Level
  • IT & Cybersecurity
    Business, Operations & Strategy
  • Toronto

AI generated summary

  • You must foster client relationships, manage risk awareness, address escalated issues, collaborate with business partners, and ensure quality support aligns with business objectives regarding vendors.
  • You will manage vendor contracts, ensure compliance, streamline processes, analyze market data, monitor performance, mitigate risks, and facilitate communications with stakeholders.

Requirements

  • 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

Responsibilities

  • 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.
  • 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.
  • 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.

FAQs

What is the role of a Supplier Management Specialist at Scotiabank?

The Supplier Management Specialist is responsible for building, maintaining, and enhancing relationships with IT vendors and internal stakeholders, ensuring alignment of IT and business requirements, managing vendor risk and performance, and overseeing contract obligations.

What are the primary responsibilities of this position?

The primary responsibilities include managing vendor contracts, vendor management, IT governance, tracking vendor performance, and ensuring compliance with regulatory obligations.

What qualifications do I need to apply for this role?

Candidates should possess strong relationship management skills, a thorough understanding of vendor contracts, excellent communication abilities, and knowledge of IT governance and risk management practices.

Is there an employee referral program for this position?

Yes, there is an employee referral program that offers a potential reward of $1,000.00 for successful referrals.

What kind of work environment does Scotiabank offer?

Scotiabank offers an inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success. There are no strict dress codes, and employees can work comfortably.

Are there opportunities for professional development in this role?

Yes, employees have access to thousands of online and in-person courses to hone current skills or learn new ones, supporting their personal and career growth.

What benefits are included in the rewards package?

The competitive rewards package includes a base salary, performance bonuses, company matching programs on pension and profit sharing, paid vacation, personal and sick days, and medical, vision, and dental coverage.

How does Scotiabank ensure inclusivity within the workplace?

Scotiabank values the unique skills and experiences each individual brings and is committed to creating and maintaining an inclusive and accessible environment for everyone.

Is travel required for this position?

While the job description does not explicitly mention travel, managing vendor relationships may occasionally require travel depending on vendor engagement and meetings.

How do I apply for this position?

Candidates must apply directly online through the Scotiabank recruitment portal to be considered for this role.

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Scotiabank

Finance
Industry
10,001+
Employees

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