Strategic sourcing manager Jobs in Toronto, ON

Role Title: Strategic Sourcing Manager- Senior (3-5 years in a financial institution background strongly preferred)

Contract duration: 6 months

Extension likelihood: potential extension and for right fit (possible perm)

Working hours: 37.5 hrs/week – 9:00am to 5:00pm

Work Location: Downtown Toronto - Hybrid - Schedule 3 days in office currently, may move to 4 (candidates should be able to accept 3-4 days in office)

Job Description:

This role is a unique opportunity to work with the People & Culture team and broader bank enterprise, helping drive innovative sourcing strategies that deliver value, reduce risk, and support our purpose-driven culture. The Human Resources category includes work supporting the Enterprise across the subcategories of Administration Services, Benefits, Recruitment, Relocation, and Training.

Role Responsibilities:

1. Strategic Leadership & Advisory

• Act as a trusted advisor to business partners, primarily within People & Culture.

• Influence and negotiate to achieve business and cost management objectives.

• Recommend and implement sourcing solutions based on strategic analysis.

• Assist in developing long-term sourcing plans aligned with enterprise goals.

• Identify emerging trends and issues to inform decision-making.

2. Sourcing Strategy & Execution

• Lead end-to-end sourcing initiatives, including competitive events (RFI/RFP), supplier selection, and contract negotiations.

• Develop and execute category management frameworks and sourcing strategies.

• Conduct market assessments to identify preferred suppliers and evaluate risk.

• Apply disciplined procurement methodologies and ensure compliance with policies.

• Manage multiple sourcing projects simultaneously, resolving conflicting priorities.

3. Supplier Relationship & Risk Considerations

• Build strong relationships with internal stakeholders and external suppliers.

• Collaborate with suppliers to create value, drive innovation, and mitigate risk.

• Incorporate supplier risk assessments results into agreements, working with colleagues in Legal & Regulatory Compliance, and Risk 4. Support Areas (RSAs) and engaging with Third Party Risk support teams.

• Maintain awareness of supplier performance, and consider controls in contracts to ensure alignment with standards.

5. Data-Driven Insights & Continuous Improvement

• Conduct analysis to inform strategic recommendations and develop business cases.

• Use performance metrics and dashboards to track progress and identify opportunities, including a sourcing pipeline of supplier agreements.

• Brings a mindset of continuous improvement and change leadership, proactively identifying opportunities to enhance processes and drive meaningful impact.

• Stay current on leading procurement practices and sourcing methodologies.

Personality Profile:

• Communicates clearly - both in conversation and writing.

• Is curious, adaptable, and thrives in ambiguity - seeking new perspectives and better ways of doing things.

• Builds relationships easily and enjoys solving complex problems - collaborating as One Bank to deliver results.

• Has a growth mindset, takes responsibility, and is eager to learn and contribute.

• Is organized, analytical, and comfortable working across diverse teams and viewpoints.

• Solution oriented, able to problem solve without much oversight

• Able to build trusting relationships with business partners

• Takes accountability

• Attention to detail

Must Have Skills:

• 3-5 years of relevant experience in strategic sourcing, procurement and contract negotiations

• Strong knowledge of sourcing/procurement processes and controls.

• Skilled in contract negotiation, business analysis, and project delivery.

• Strong communication, collaboration, and influence skills.

• Comfortable making data-driven decisions and synthesizing insights from research.

• Proficient in Excel and data analysis.

• Ability to build a strategic plan based on analysis without much oversight

• Able to lead an end-to-end sourcing and contract negotiation process

• Experience in a large complex organization and regulatory environment

Nice to Have Skills:

• Banking/FI experience

• Post-secondary degree in a related field or equivalent combination of education and experience.

Aptitude requirements – must be assertive, with excellent contract knowledge, ability to influence offers for desired results, working with senior stakeholders