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Senior Manager, Strategic Sourcing



Job Description

Senior Manager, Strategic Sourcing

25 York Street, Toronto, Ontario, M5J 2V5 Canada

President's Choice Bank is a wholly owned subsidiary of Loblaw Companies Limited and was established to promote President's Choice Financial services offered by strategic partners in all regions of Canada. President's Choice Financial has grown to over 3 million customers while saving these customers millions in bank fees and earning them millions in better interest rates, free groceries and other rewards. It operates in the following segments:

  • MasterCard-The President's Choice Financial MasterCard is offered and operated by President's Choice Bank.
  • Core Banking-Through a venture with CIBC, complete banking services to individuals is offered through 200 in store pavilions, internet and telephone banking.
  • Insurance-Home and auto insurance, travel and pet insurance are offered through relationships with several insurance companies.
  • PC Points-All PCF customers have the opportunity to earn PC Points that can be redeemed in all LCL stores.

PCF's vision is to provide superior value financial products to consumers.  The business strategy is to treat each customer as a unique individual, meeting their needs with end-to-end solutions, and engaging and energizing employees to serve them, while maximizing overall profitability.  PCF offers consumers meaningful advantages in product value, product selection and a loyalty program, all of which advance objectives of enhancing its business model, gaining market share and improving profitability.

PCF is an important business unit within LCL that manages and develops the products and service programs in order to improve the customer experience, maximize value, and provide a platform to enhance customer insights and relationships.  PCF is responsible for building market competitive, differentiated and innovative financial services products and services designed to build deeper customer relationships by meeting customer needs and supporting our key enterprise strategies.

The Senior Manager, Strategic Sourcing will be responsible for leading the business process of negotiation of vendor agreements, in partnership with business stakeholders. This role will be responsible for opportunity spotting, ensuring efficiencies and ensuring due diligence as it pertains to the bank's regulatory commitments.

Key responsibilities:

  • Lead material vendor due diligence process through to recommendation of the vendor including, where required:
    • Coordinating the development of a vendor due diligence questionnaire with stakeholders across the business;
    • Coordinating the review, evaluation and scoring of the vendor due diligence questionnaire responses;
    • Coordinating site visits;
    • Conducting reference checks;
    • ensuring adequate documentation of the process for audit purposes; etc.
  • Act as business lead for the negotiation of small to large sized vendor agreements, in collaboration with legal and key business stakeholders including:
    • Identification of key business terms for inclusion;
    • Coordination of required input from key business stakeholders;
    • Review of vendor edits - accept edits and/or form counter proposal;
    • Escalation of key risks/issues to Senior Management; and
    • Manage relationship between the vendor, business stakeholders and legal through the process.
  • Support the Senior Director in the negotiation of large material vendor agreements
  • Education/training within the business on the role, objectives and processes of the Strategic Sourcing function
  • Manage expectation/concerns within the organization and vendor /partner organizationsthrough strong, professional communication and leadership skills
  • Manage/develop relationship network as required by dealing with individuals at all levels of the organization and vendor /partner organizations


  • Minimum 3-5 years experience negotiating vendor agreements (preferably agreements within the financial services that satisfy OSFI Guideline B-10 requirements)
  • Minimum 2-3 years management experience
  • Strong understanding of credit card operations is beneficial
  • Vendor management experience is beneficial
  • Post secondary education (preferably in Business or related field)
  • Experience managing multiple internal and external relationships, including the ability to work closely with a variety of stakeholders to achieve common business objectives
  • Strong organizational and project management skills with the ability to prioritize, balance conflicting tasks and manage internal and external stakeholders
  • Ability to communicate effectively at all levels of the organization
  • Well developed presentation and interactive skills sufficient to present both factual and conceptual information/ideas
  • Strong interpersonal and communication skills, both written and verbal

Come and join a winning team who demonstrates innovation, energy, creativity and vision.  We recognize the importance of a diverse workforce and we therefor encourage applications from Aboriginal Peoples, women, members of a visible minority and persons with a disability.  We thank all applicants for their interest, however, only those selected for an interview will be contacted.

Number of Openings:


PC Financial recognizes Canada's diversity as a source of national pride and strength. We have made it a priority to reflect our nation's evolving diversity in the products we sell, the people we hire, and the culture we create in our organization. Accommodation is available upon request for applicants and colleagues with disabilities.

Contact Information

Posting Date: 12-Sep-2017Financial Services Permanent, Full-Time Open 1 ASAP
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