Senior Manager - Strategic Sourcing & Procurement Transportation and Vendor Finance

This position supports a business line that is expected to undergo a strategic ownership transition to infrastructure private-equity firm Stonepeak in connection with a previously announced transaction. Upon completion of the transaction, BMO intends to retain a minority ownership interest in the business. This transition represents an exciting opportunity to be part of an organization backed by Stonepeak, the world’s largest privately owned infrastructure firm, with approximately $88 billion in assets under management, more than 360 employees globally, and over 100 investments across 60 countries. Supported by a diverse group of more than 330 institutional investors, including pensions, endowments, and other leading organizations worldwide, Stonepeak invests in businesses that provide mission-critical services, specialized expertise, and essential infrastructure that communities and economies rely on every day. As the organization embarks on its next phase of growth, employees will have the opportunity to contribute to a business with a strong foundation, long-term investment focus, and commitment to delivering exceptional value to customers. Additional details regarding the organizational structure and transition plans will be discussed during the recruitment process.

Responsibilities

• Develop and implement innovative sourcing and demand-management strategies to achieve business and cost-management objectives and minimize risk associated with BMO’s supplier spend.
• Foster a culture aligned to BMO’s purpose, values, and strategy; role-model BMO values and behaviors, ensuring alignment between values and behavior that promotes diversity and inclusion.
• Connect work to BMO’s purpose, set inspirational goals, define clear expected outcomes, and ensure accountability for follow-through.
• Build interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.
• Attract, retain, and enable the career development of top talent; improve team performance, recognize and reward performance, coach employees, support development, and manage poor performance.
• Provide strategic input into business decisions as a trusted advisor; make recommendations to senior leaders on strategy and new initiatives based on an in-depth understanding of the business/group.
• Assist in the development of strategic plans; identify emerging issues and trends to inform decision-making.
• Act as a subject-matter expert on relevant regulations and policies; influence and negotiate to achieve business objectives.
• Manage and implement sourcing-strategy projects throughout their lifecycle, leveraging appropriate systems and tools to ensure accurate and up-to-date reporting on project progress and issues, including competitive events and supplier contract negotiations.
• Manage sourcing category/supply-chain initiatives end-to-end; network with industry contacts to gain competitive insights and best practices.
• Develop the Category Management Framework and Sourcing Strategy; direct the development of sourcing strategies/recommendations.
• Drive end-to-end execution of sourcing category initiatives; recommend business priorities, advise on resource requirements, and develop a roadmap for strategic execution.
• Conduct analysis to inform strategic recommendations; develop business cases to assess opportunities, including identifying needs, analyzing potential options, and assessing expected return on investment.
• Manage resources and lead the execution of strategic initiatives to deliver on business and financial goals; act as the prime subject-matter expert for internal/external stakeholders.
• Define business requirements for analytics and reporting to ensure data insights inform business decision-making; break down strategic problems and analyze data to provide insights and recommendations.
• Prepare and present reports on key metrics and supplier risks to support better management of costs, risks, and business/group planning for the future.
• Lead change-management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation, and sustainment of initiatives.
• Lead the execution of operational programs; assess and adapt as needed to ensure quality of execution.
• Develop strategies and approaches to manage risk and support the business strategy and goals; direct supplier contract negotiations.
• Identify current and emerging procurement and sourcing trends/best practices and make recommendations on their potential application for the Bank.
• Lead the execution of the sourcing strategy, including the development and management of the project throughout its lifecycle; plan and conduct sourcing events (e.g., RFI, RFP, contract negotiation/renewal).
• Provide market assessments to identify preferred suppliers; evaluate and select suppliers; perform initial supplier risk assessments.
• Create, modify, renew, and terminate contracts as required; drive process improvement and innovation opportunities in sourcing and/or procurement through knowledge of market trends and best practices.
• Provide input into the development of guidelines, policies, and standards for sourcing and/or procuring goods and services; identify business needs, design/develop tools and training programs, and deliver training to audiences.
• Review programs for effectiveness, consider industry trends, and recommend enhancements; make changes as required.
• Work with stakeholders to develop category and/or sub-category sourcing strategies/opportunities, supplier selection, due diligence, and contract negotiations while achieving targeted savings and business objectives.
• Build effective relationships with internal/external stakeholders and ensure alignment; develop an understanding of business partner needs and expectations.
• Provide advice and guidance on implementation of solutions concerning category and supplier strategies, including end-to-end risk management requirements associated with Outsourcing and Supplier Risk (OSR).
• Apply a disciplined methodology and procurement policies to the procurement of goods and services; conduct analysis and develop insights and recommendations that are actionable in alignment with project/program goals.
• Develop solutions and make recommendations based on an understanding of the business strategy and stakeholder needs; collaborate in the management of sourcing category initiatives end-to-end.
• Identify areas of opportunity through analyses of industries and supply markets, cost models, supplier category spend, and performance of key suppliers; work with suppliers to create value/savings and mitigate risk.
• Incorporate market-leading processes and practices to mitigate risk, drive innovation, and maximize overall value for assigned sourcing categories and portfolios.
• Identify, develop, and implement demand-management and cost-reduction opportunities; optimize sourcing strategies, identify and mitigate supplier risk, and negotiate effective controls through the supplier engagement process.
• Prepare project plans and keep key stakeholders informed of progress; manage multiple programs/projects simultaneously and resolve conflicting priorities and objectives.
• Design and produce regular and ad-hoc reports and dashboards; use performance measures to monitor and track performance and address any issues.
• Build change-management plans of varying scope and type; lead or participate in change-management activities, including readiness assessments, planning, stakeholder management, execution, evaluation, and sustainment of initiatives.
• Maintain knowledge of leading procurement practices and promote adoption of procurement standards; continuously upgrade knowledge on event and sourcing methodologies with a specific focus on strategic category development.
• Effectively communicate key messages, recommendations, and results to all managerial levels; provide input into the planning and implementation of operational programs.
• Operate at a group/enterprise-wide level and serve as a specialist resource to senior leaders and stakeholders; apply expertise and think creatively to address unique or ambiguous situations and find solutions to complex, non-routine problems.
• Implement changes in response to shifting trends; take measured risks while protecting the bank by applying the Risk Management Framework in line with BMO’s Risk Culture and approved Risk Appetite.

Requirements

• Typically 7+ years of relevant strategic sourcing, supply chain, and/or procurement work experience.
• Post-secondary degree in a related field of study or an equivalent combination of education and experience.
• Expertise in all areas of sourcing.
• In-depth/expert knowledge of sourcing/procurement processes, procedures, and controls.
• In-depth/expert knowledge of relevant risk and regulatory requirements.
• In-depth/expert knowledge of sourcing in Financial Services or Technology industries.
• In-depth knowledge of business analysis, project delivery practices, and standards across the project lifecycle.
• In-depth/expert Excel and spreadsheet analysis skills.
• In-depth/expert negotiation knowledge, skill, and ability.
• Knowledge of sourcing and procurement systems and applications.
• Strong Financial Services, financial, or cost-management experience.
• Knowledge of the group/business environment, processes, and procedures.
• Experience compiling, synthesizing, and drawing insights from a variety of research sources.
• Demonstrated ability to assess risks, including identifying, quantifying, and prioritizing risks.
• Seasoned professional with a combination of education, experience, and industry knowledge.
• In-depth/expert verbal and written communication skills.
• In-depth/expert analytical and problem-solving skills.
• In-depth/expert influence skills.
• In-depth/expert collaboration and team skills, with a focus on cross-group collaboration.
• Able to manage ambiguity.
• In-depth/expert data-driven decision-making skills.

Pay

Salary: $112,200.00 – $209,000.00 (salaried). Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role and may include a commission structure. Salaries for part-time roles will be pro-rated based on the number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position. Total compensation may include performance-based incentives, discretionary bonuses, as well as other perks and rewards.

Benefits

• Health insurance
• Tuition reimbursement
• Accident and life insurance
• Retirement savings plans

For more details on benefits, visit BMO Total Rewards.