Strategic Sourcing Manager, Corporate & Marketing Categories

BMO Capital Markets   •  

Chicago, IL

Industry: Finance & Insurance

  •  

5 - 7 years

Posted 57 days ago

This job is no longer available.

Strategic Sourcing Manager - Corporate & Marketing Sourcing


The Sourcing Team, within the Procurement department, works with the Lines of Business (LOBs), Technology & Operations (T&O) and the Corporate Functions (Corporate) in the development and implementation of innovative sourcing strategies to achieve business and cost management objectives associated with the bank's approximately $5 billion in annual supplier spend.

The Strategic Sourcing Manager - Corporate and Marketing (SSM) works with stakeholders to develop and implement innovative sourcing and demand management strategies to achieve business and cost management objectives and minimize risk associated with the bank's supplier spend. The focus of this role is on, but not limited to, the following core accountabilities and activities:

  • Works with stakeholders to develop category and/or sub-category sourcing strategies/opportunities, supplier selection, due diligence and contract negotiations while achieving targeted savings and business objectives.
  • Provides advice and guidance to assigned business/group on implementation of solutions concerning category and supplier strategies, including the end-to-end risk management requirements associated with Outsourcing and Supplier Risk (OSR).
  • Applies a disciplined methodology and procurement policies to the procurement of goods and services.
  • Develops solutions and makes recommendations based on an understanding of the business strategy and stakeholder needs.
  • Collaborates in the management of sourcing category initiatives end-to-end. Identifies areas of opportunity through analyses of industries and supply markets, cost models for products and services, supplier category spend, and the performance of key suppliers in the market.
  • Incorporates market leading process and practices, to mitigate risk, to drive innovation and to maximize overall value for assigned sourcing categories and portfolios.
  • Identifies, develops and implements demand management and cost reduction opportunities, optimizes sourcing strategies, identifies and mitigates supplier risk and negotiates effective controls all through the supplier engagement process.
  • Leads the execution of the sourcing strategy including the development and management of the project throughout its lifecycle.
  • Provides market assessment to identify preferred suppliers.
  • Perform Initial Supplier Risk Assessment
  • Plans and conduct sourcing events (e.g. RFI, RFP, contract negotiation/renewal, etc.)
  • Evaluates and selects Supplier.
  • Influences and negotiates to achieve business objectives.
  • Create, modify, renew, terminate contracts as required.
  • Work with suppliers to create value/savings and mitigate risk.
  • Maintains knowledge of leading procurement practices and promote adoption of procurement standards.
  • Continuously upgrade knowledge on event and sourcing methodologies with a specific focus on strategic category development.
  • Gathers industry knowledge and communicate market trends affecting the assigned spend categories pro-actively to internal stakeholder.
  • Improves operational methods and workflows to reduce duplicative effort and improve usage of collective knowledge.
  • Conducts analysis and develops insights and recommendations that are actionable in alignment with project/program goals.
  • Conducts independent analysis and assessment to resolve strategic issues.
  • Breaks down strategic problems, and analyses data and information to provide insights and recommendations.
  • Recommends and implements solutions based on analysis of issues and implications for the business.
  • Uses performance measures to monitor and track performance and address any issues.
  • Designs and produces regular and ad-hoc reports, and dashboards.
  • Assists in the development of strategic plans.
  • Provides input into the planning and implementation of operational programs.
  • Prepares project plans and keep key stakeholders informed of the process and progress.
  • Manage multiple programs/projects simultaneously and resolve conflicting priorities and objectives.
  • Participates in the development / design, implementation / promotion, and management of core business/group processes and process improvements.
  • Builds change management plans of varying scope and type; leads or participates in a variety of change management activities including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
  • Effectively communicate key messages/recommendations/results to all managerial levels.
  • Communicates with stakeholders to reach objectives in a timely manner.
  • Builds effective relationships with internal/external stakeholders and ensures alignment between stakeholders. Includes developing an understanding business partner needs and expectations.
  • Acts as a trusted advisor to assigned business/group.
  • Promotes Sourcing team's success in conjunction with Procurement, within BMO and externally with industry groups and Strategic Sourcing forums
  • Demonstrates behaviors that are consistent with Being BMO" model, values and actions, by doing what's right, putting others first, learn from difference and make tomorrow better

Within the mandate of this role, the SSM promotes and supports the Bank's risk culture including ensuring employees understand their accountabilities for risk-taking activities, promoting an environment of open communication and effective challenge, and establishing the tone from the top through leading by example. The role is accountable for complying with the Bank's Risk Appetite framework and ensuring risk-taking activities remain within agreed limits and comply with all regulatory requirements.

  • For this role, experience in one or multiple of the following categories / subcategories is preferred:
  • Advertising & Marketing (including but not limited to media, creative, digital marketing, customer rewards, marketing research, promotional products, and sponsorships)
  • Corporate (including but not limited to consulting, travel, print, office supplies, shipping / courier / mail, collections, insurance services, and record management)



Qualifications:


  • At minimum, between 5 - 7 years of relevant strategic sourcing, supply chain and/or procurement work experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
  • Financial Services, Financial or Cost Management experience.
  • Experience in most areas of sourcing.
  • Possesses an in-depth level of knowledge of sourcing/procurement processes, procedures and controls.
  • Knowledge of relevant risk and regulatory requirements - In-depth.
  • Knowledge of Sourcing in Financial Services or Technology industries - In-depth.
  • Knowledge of sourcing and procurement systems and applications - In-depth.
  • Knowledge of business analysis, project delivery practices and standards across the project lifecycle - In-depth.
  • Knowledge of the group/business environment and processes and procedures.
  • Excel and spreadsheet analysis - In-depth.
  • Demonstrated experience in compiling, synthesizing and drawing insights from a variety of research sources.
  • Demonstrated ability to assess risks including identifying, quantifying and prioritizing risks.
  • Able to perform with minimal direction / supervision with proactive work style
  • Ability to adapt easily across many situations, seeking out the most effective approach to an issue in order to increase the value brought to the team
  • Advanced analytical and problem-solving / critical-thinking skills
  • Advanced written and oral communication skills (including facilitation / presentation skills), with the capability to present and articulate complex concepts
  • Advanced multi-tasking skills covering a wide range of challenges, which are independent and distinct
  • Advanced planning skills (re finance, resource, strategy, business)