Senior Sourcing Manager

TD Bank   •  

Mount Laurel, NJ

Industry: Accounting, Finance & Insurance


11 - 15 years

Posted 169 days ago

This job is no longer available.


Job Description

The Senior Sourcing Manager oversees/leads a team of specialists on all aspects ofcategory management for assigned majorcategorygroups.


• Develops and implements North American category strategies employing category management and best practices.
• Acts as primary liaison with business partners and provide strategic vision and recommendations to the business to optimize supply chain strategies that support and enable TD and business specific objectives and goals.
• Develops and leads implementation of category and strategic sourcing strategies that support TD and business partner needs and objectives as well as help to mitigate risks to business and TDBFG.
• Ensures effective delivery of Strategic Sourcing Group (SSG) services to business partners and prompt and thorough resolution of all client issues.
• Provides guidance on outsourcing governance best practices and provides counsel to business to ensure supplier arrangements meet all TDBFG policy and regulatory requirements.
• Ensures TDBFG’s target savings are achieved while meeting the needs of internal business partners.
• Contributes to the development and execution of the supplier transition activities, governance programs and management programs.
• Manages/leads/develops a team of specialists/professionals to ensure succession and staffing needs are addressed by recruiting, training, coaching and conducting performance assessment of team members.
• Prioritizes staff and category team workloads to meet category management needs/objectives in all areas.
• Directs the development of functional skills building to improve capabilities and skills of Sourcing category professionals.
• Ensures sourcing process and supplier contracts deliver maximum quality, at service levels and/or price points that meet business partner requirements.
• Develops and leads demand management strategies for category group (spend analytics, identifying spend efficiencies and sourcing opportunities) and develops and leads category value optimization strategies (total cost of ownership analytics and optimization, supply chain quality improvements, cost modeling, procurement related economics & financial analysis).
• Monitors supplier contract value and category spend compliance.
• Develops a network of Strategic Sourcing professionals to enable him/her to become/stay current with the latest category management and sourcing trends and best practices.
• Leads market intelligence activities for category group (Industry, supply market and supply chain research and analytics, category sourcing and outsourcing trends and best practices).
• Develops and oversees all strategic sourcing strategies, activities for category group.
• Leads major/complex sourcing initiatives including requirements gathering, supplier/solutions evaluation, and supplier selection activities and lead contract negotiations with external suppliers and internal stakeholders.
• Oversees sourcing Category Managers as they strategic sourcing processes.
• Manages relationships with key TDBFG Business Line management teams and executives.
• Manages team of vendor specialists and analytics.
• Leads the vendor selection process and deals directly with vendors.

  • Must be eligible for employment under regulatory standards applicable to the position.


• 4 Year Degree or equivalent experience
• 10+ Years of related experience
• Minimum of 10+ years of relevant work experience in a role of Relations Manager, Project Manager, Vendor Analyst, Financial Analyst and IT Analyst.
• Must have relevant management/supervisory experience in order to effectively lead the strategic sourcing team.
• Must have excellent negotiating and influencing skills to be utilized during internal and external negotiations.
• Must have strong Relationship Management skills, Negotiation skills, Project Management experience, Strong presentation skills and strong analytical skills.
• Must have general knowledge of Strategic Sourcing lifecycle.
• Must have general knowledge of the TD Bank organizational structure, including the main business groups and their functions, key contact points, etc.
• Proficiency with applications: Excel, Word, PowerPoint and/or other office tools.
• May berequired totravel to various business unit/clientlocations.


The Senior Sourcing Manager, Professional Services Procurement is a results-driven team player who works in collaboration with businesses and colleagues to develop and implement sourcing strategies that deliver sustainable value by optimizing 3rd-party expenditure and total cost of ownership while mitigating supply-related risks. In this capacity, the person will interface with stakeholders across the organization, internal business partners, subject matter experts, other members of SSG and 3rd-parties in developing and implementing BU-specific sourcing strategies

Reporting to the AVP Professional Services Procurement, the Senior Sourcing Manager, Professional Services Procurement’s key accountabilities are;

• As a member of the Category Leadership team, help to drive and deliver transformation of SSG and a step-change in procurement proficiency within the LOBs they support

• Proactively engage business leaders to understand their business strategies and objectives in order to align our work to help achieve them

• Manage a team of dedicated procurement professionals to meet stretching and valued objectives while developing, deepening and coaching the SSG talent pool

• As a people manager, create an environment that encourages growth, visibility and continual learning. Recognize and value individual differences and contributions; seek to include diverse and global perspectives

• Proactively manage the 3rd-party expenditure assigned and associated key suppliers to create P&L impacting value that is recognized by the business and organization

• Develop Professional Services procurement sourcing strategies for the Contingent Services (Business/IT contractors, temp staffing, legal services) sub-category that drive sustainable competitive advantage and concentrate spend with suppliers that matter to and value TD

• Drive value in supply chain/total cost of ownership sourcing initiatives through early engagement, commercial acumen and market knowledge. Activities also include requirements gathering, solution/supplier evaluations and supplier selection activities

• Ensure effective delivery of Strategic Sourcing Group (SSG) services to business partners and ensure prompt and thorough resolution of all client issues

• Proactively conduct Professional Services market intelligence activities including industry, supply market and supply chain research/analytics, category sourcing and outsourcing trends and best practices and share knowledge, insight and advice with business in a way that contributes to their long term business strategies
• Provide guidance and insight on outsourcing governance best practices and provide counsel to business to ensure supplier arrangements meet all TDBG policy and regulatory requirements
• Participate and represent the Bank at industry group meetings and/or supplier forums and maintain a wide referral network
• Foster strong collaborative relationships with partners in SSG