Sr Partner, Sourcing

Sr Partner, Sourcing (6-8 Month Contract)

Toronto, ONT, Canada and 2 more

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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.

We are seeking a highly motivated and skilled Senior Procurement Sourcing Partner to join our dynamic team supporting the sourcing and procurement needs of various departments within Definity such as Claims, Technology Solutions as well as Indirect Spend (Corp. Services, HR, Finance, etc.).

As a Senior 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.

• Strategic Sourcing and Contract Negotiations
  • 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…