Senior Partner, Sourcing (20‑Month Contract)

Senior Partner, Sourcing (20‑Month Contract) Waterloo, ONT, Canada and 2 more Be the First to Apply Definity is the parent company to some of Canada’s most long-standing and innovative insurance brands, including Economical Insurance, Sonnet Insurance, Family Insurance Solutions, and Petline Insurance. Our ambition is to be one of Canada’s leading and most innovative property and casualty insurers. We can’t do that without our people, so we embrace and encourage a culture that’s collaborative, ambitious, rewarding, and empowering.
We offer a flexible, hybrid work experience where employees work from the office and virtually depending on the type of work they are doing and who they are working with. Bring your true self and be a part of our journey. It’s better here.

The Opportunity

Join a forward-thinking procurement team that plays a critical role in supporting Definity’s Technology Services Organization. We’re looking for a strategic sourcing expert who thrives in a fast-paced, regulated environment and is passionate about delivering value through strong vendor partnerships and risk-aware sourcing.

We are seeking a highly motivated and skilled Procurement Sourcing Partner to join our dynamic team supporting the Technology Services department. As a Sourcing Partner, you will be responsible for developing and executing sourcing strategies to ensure the availability of high-quality services for our organization and customers. Your role will involve conducting market research, identifying potential suppliers, facilitating RFx processes, negotiating pricing and contract terms, presenting to executives/steering committees and managing relationships with key stakeholders. The ideal candidate will possess strong analytical abilities, exceptional negotiation skills and a deep understanding of procurement practices.

This position is offered in a hybrid work model

What to Expect

• Strategic Sourcing and Contract Negotiations: build and execute sourcing strategies for complex and/or high dollar value engagements that include;

• leading RFx/competitive bid processes including the negotiation strategy and/or support on contract negotiations with vendors to deliver value and savings to the organization;

• financial reviews, cost comparisons;

• external market and vendor analysis, including analyzing purchasing trends and data;

• establishing category strategy;

• collaborating with internal stakeholders to understand business needs;

• liaising with external vendor partners;

• creating and delivering presentations to senior leaders and executives throughout the lifecycle of sourcing initiatives;

• collecting appropriate artifacts and completing required internal documents to conclude sourcing events (e.g. contract summaries).

• Contract Management: in partnership with Legal Services, act as the liaison between internal clients and vendors to resolve problems and or discrepancies, establish new contracts, renewals or terminations of contracts and interpret terms & conditions to address contractual gaps. Deliver robust and comprehensive agreements that meet business requirements while mitigating organizational risk. Proactive planning of the contract lifecycle to identify and action renewals in a timely fashion and address any compliance concerns.

• Risk Management: in partnership with second line risk functions, act as the liaison between internal clients and vendors to assess and mitigate risk. Deliver robust and comprehensive agreements that mitigate organizational risk, which includes collecting effective documentation and registering risks that are inherent to the organization across the vendor lifecycle. Knowledgeable of applicable regulatory requirements as they relate to sourcing and procurement (e.g. OSFI B-10).

• Relationship Management: developing and maintaining strong working relationships with internal stakeholders and external vendor partners. Collaborate with cross-functional teams to understand their requirements and provide guidance on sourcing options and identify strategic opportunities.

• Project Management: independently facilitates information gathering sessions with stakeholders and establishes reliable schedules for priority projects/action items. Self-manage to ensure deliverables are completed within established timelines. Managing multiple priorities simultaneously while ensuring internal processes are followed to capture status updates and key metrics (i.e. weekly huddle reports, monthly savings tracker, etc.). Prepare and present presentations on sourcing activities, supplier performance, cost savings and other relevant aspects to senior and executive management.

• Category/Industry Knowledge: Conduct comprehensive market research and supplier evaluations to identify potential vendors and assess their capabilities, quality standards, and pricing models. Analyze market trends, monitor industry developments and identify opportunities for cost savings, process optimization, and risk mitigation.

• Technology procurement (cloud computing, software, data, AI, hosting) experience required

• Significant sourcing/procurement experience, strong knowledge of procurement processes, sourcing strategies and contract management principles in one or more of the following areas: Insurance, Technology, Professional Services, Financial Institutions and experience with outsourcing and managed services is an asset

What You Bring

• 7-10 years’ experience in a similar role within a corporate / business environment with direct experience in negotiating and drafting agreements

• An effective communicator, influencer and negotiator with strong interpersonal skills

• Solution oriented strategic thinker and demonstrates analytical and problem-solving abilities, with a data-driven approach to decision-making

• Proficiency in the development of executive level presentation materials

• Your negotiation, presentation, facilitation, project management and planning expertise are second to none

• Highly organized with attention to detail and work effectively in a fast-paced environment, prioritize tasks and meet deadlines

• Seasoned procurement professional with a full understanding of applicable legislation and industry best practices related to contract agreements

• An asset to have experience using a variety of procurement tools including dynamic sourcing tools, auctions, spend analytics, procure-to-pay, contract lifecycle management, vendor management and third-party risk management

• Completion of post-secondary education (university degree or public college diploma), and potentially CSCMP designation (the latter is an asset but not required)

• We also take potential into consideration. If you don’t have this exact experience, but you know you have what it takes, be sure to give us more insight through your application and cover letter.

Salary Range: $73,500- $123,500

Actual salary for the role may vary depending on work location of the successful candidate and other factors including but not limited to, skills, education, experience, working conditions and the local labour market.

This position is being posted to fill an existing vacancy.

We also take potential into consideration. If you don’t have this exact experience, but you know you have what it takes, be sure to give us more insight through your application and cover letter.

Our inclusive work environment welcomes diversity and supports accessibility. If you require accommodation at any time during the recruitment process, please let us know by contacting accessibility@economical.com.

Background checks

This role requires successful clearance of a background check (including criminal checks and leadership references).