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, Eden Park and Fig.

Together, we are the leading alternative lending bank in Canada. 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.

Join Fairstone Bank as a Manager Strategic Sourcing and be part of our talented and growing team!

The incumbent is responsible for overseeing procurement activities and the application of procurement policies, procedures, and regulatory requirements. At Fairstone, he or she is 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.).

Please note that this is a temporary role for 12 months.

• 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,…