Manager, Strategic Sourcing

Who we are:

Fairstone Bank and its family of brands are united in delivering innovative, accessible and reliable financial solutions that enable Canadians to reach their goals. Over the years, our brand family has grown. In 2024, Home Trust Company, Home Bank and Oaken Financial became part of the Fairstone Bank family of brands, alongside Fairstone, EdenPark and Fig.

Together, we are the leading alternative lending bank in Canada. We have the collective experience and expertise to better serve our customers and foster our partners’ growth. With a diverse suite of products—residential and commercial mortgages, consumer deposits and GICs, credit cards, retail and automobile financing, personal loans and digital lending—we offer financial solutions tailored to all Canadians, including newcomers, small-business owners, smart investors and savvy consumers.

About the role:

Backed by nearly a century of lending experience through its legacy companies, Fairstone Bank and its brand family are proud to be Canada’s leading alternative lending bank. ​

Be part of our talented and growing team! We are currently looking for a Manager, Strategic Sourcing, to join our team reporting to the Director, Strategic Sourcing and Vendor Management.

As a Manager, Strategic Sourcing, you will be responsible for overseeing procurement activities and the application of procurement policies, procedures, and regulatory requirements. You will be accountable for performing analyses and making strategic recommendations concerning all contracts as well as provide internal customers with recommended assistance in supplier management, will create and maintain various reports (key performance indicators, catalogue of products and services, dashboards, etc.)

WHAT WILL YOU WORK ON?

• Ownership of the assigned engagement, including but not limited to establishing / managing/ negotiating/leading executing contractual agreements, vendor onboarding & due diligence process throughout the vendor lifecycle.
• Lead end-to-end sourcing activities for assigned categories, including RFPs, vendor selection, and contract negotiations.
• Draft, review, and manage complex contracts, ensuring alignment with other areas such as legal, IT, and risk.
• Conduct spend analysis and identify cost-saving opportunities.
• Conduct analyses of existing vendor base to assess capability of meeting business objectives; balancing vendor concentration risks with vendor consolidation strategies.
• Maintain supplier master data and oversee contract lifecycle management
• Recommend/Develop and implement processes and tools for different types of contracts, risk assessments, disputes, and issue resolutions.
• Provide subject matter expertise and guidance to internal stakeholders on sourcing best practices.
• Supervise management and administration for a wide variety of contracts.
• Advise on the practices and considerations for upgrading existing contracts and solving complex contract management problems.
• Support accountable executives in the vendor performance management and evaluate operational issues and considerations in contract enforcement.
• Deliver on Strategic Sourcing Strategy, increase Strategic Sourcing brand awareness.
• Leading major contract negotiations, strategic sourcing activities, cross functional projects, risk and relationship management, and savings initiatives.
• Implement sound financial planning that is aligned with the corporate plan.
• Contribute to development & continues improvement of policies, guidelines & tools.
• Spearheading best practices for sourcing of new waves of technology and initiating strategies to boost suppliers’ technology innovation.
• Applying expert skills in data analytics, market research, sourcing, relationship and contract management.
• Manage vendor onboarding, due diligence, performance evaluations and relationships.
• Ensure the success and oversee the effectiveness of the vendor management program across the Bank by implementing common standards and practices.
• Design and implement supplier performance scorecards for vendor assessment in contract management, financial management, performance management, risk management and relationship management areas.
• Collaborate with business units to ensure vendor performance aligns with service level agreements and business expectations.
• Lead cross functional teams by effectively manage relationships with 1st and 2nd line business partners involved in management and oversight of service providers.
• Support development and implementation of relevant policies, standards, directives, frameworks, and requirements relating to management of third parties.
• Conduct contract reviews and due diligence activities to ensure contracts and renewals incorporate business and regulatory requirements.
• Ensure that third-party risks are appropriately identified, assessed, managed, monitored and reported.
• Develop detailed expense models, budget forecasting and analysis.

What we’re looking for:

• University degree

• Minimum 5 years in a sourcing, contracts and vendor management role with a solid understanding of the entire vendor lifecycle.

• Experience ideally gained with a Bank or Financial Institution.

• Demonstrated experience successfully managing third parties, reviewing policies, performance, and contract management or negotiation strategy for small, medium and complex contracts

• Familiarity with regulatory requirements (OSFI) is an asset

• Business Process Optimization mindset – knowledge of processes for creating, analyzing, monitoring or improving requisitions

• Ability to communicate and work effectively cross-functionally with internal stakeholders, as well as external stakeholders including vendors

• Mutli-tasking and time-management skills, with ability to prioritize tasks

• Must have proficient oral and written skills; including report writing and presentation skills

• Solid expertise using Microsoft Office, Power BI, Visio, SharePoint. Familiarity with eSourcing tools, is an asset

What you’ll love about working here:

• Award-Winning Culture: We’re proud to be recognized as a and one of by Canada’s Top 100 Employers.
• Work-Life Balance: Enjoy flexibility with our hybrid work model designed to support your lifestyle.
• Time to Recharge: Generous vacation based on your role, statutory holidays, plus 6 wellness days to prioritize your well-being.
• Compensation Package: Competitive base salary plus an annual incentive bonus tied to performance.
• Comprehensive Benefits: Robust health and dental coverage through Manulife, as well as virtual healthcare through Dialogue.
• Future-Ready Savings: Group Retirement Savings Plan with up to 7% employer match.
• Exclusive Perks: Discounts from top retailers via WorkPerks, plus location-based perks like gym memberships and Toronto Bike Share.
• On-Site Fitness: Gym access at our London and Montreal offices.
• Continuous Growth: Education Assistance Program and Fairstone Academy for training and skill development.
• Family Support: Parental leave top-up program to help you during life’s big moments.
• Community Impact: One paid volunteer day to give back to causes that matter to you.

What you can expect - pay & process:

• Expected base salary range is $65,000 - $97,000 , plus the opportunity to earn an annual incentive bonus tied to performance.
• This posting is for an existing vacancy within our organization.
• Artificial intelligence may be used in parts of the recruitment process.
• All candidates considered for hire must successfully pass a criminal background check, credit check, and validation of their work experience to qualify for hire.

If what you read excites you, we’d like to hear from you! Please submit your application and we’ll contact you if you become selected for first stages of the interview process.

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