Sr Manager, Procurement-Transportation & Vendor Finance

This position supports a business line that is expected to undergo a strategic ownership transition to infrastructure private equity firm Stonepeak. Upon completion of the transaction, BMO intends to retain a minority ownership interest. Stonepeak is 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, Stonepeak invests in businesses that provide mission-critical services, specialized expertise, and essential infrastructure. 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.

About the role

Works with stakeholders to develop and implement innovative procurement, sourcing, and demand management strategies to achieve business and cost management objectives while minimizing risk associated with BMO’s supplier spend. Fosters a culture aligned to BMO purpose, values, and strategy, and role models BMO values and behaviors. Ensures alignment between values and behavior that fosters diversity and inclusion.

Responsibilities

• Manages and implements 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.
• Creates, modifies, renews, negotiates, and terminates contracts as required.
• Manages sourcing category/supply chain initiatives end-to-end.
• Networks with industry contacts to gain competitive insights and best practices.
• Develops Category Management Framework and Sourcing Strategy.
• Directs the development of sourcing strategies and recommendations.
• Drives end-to-end execution of sourcing category initiatives.
• Maintains knowledge of leading procurement practices and promotes adoption of procurement standards.
• Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.
• Attracts, retains, and enables the career development of top talent; improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.
• Provides strategic input into business decisions as a trusted advisor.
• Acts as a subject matter expert on relevant regulations and policies.
• Influences and negotiates to achieve business objectives.
• Recommends business priorities, advises on resource requirements, and develops roadmaps for strategic execution.
• Conducts analysis to inform strategic recommendations; develops business cases to assess opportunities.
• Develops the business case by identifying needs, analyzing potential options, and assessing expected return on investment.
• Prepares and presents reports to business/group on key metrics and supplier risks to support better management of costs, risks, and input in business/group planning for the future.
• Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation, and sustainment of initiatives.
• Leads the execution of operational programs; assesses and adapts as needed to ensure quality of execution.
• Directs supplier contract negotiations.
• Identifies current and emerging procurement and sourcing trends/best practices and makes recommendations on their potential application for the Bank.
• Leads the execution of the sourcing strategy, including the development and management of the project throughout its lifecycle.
• Plans and conducts sourcing events (e.g., RFI, RFP, contract negotiation/renewal, etc.).
• Drives process improvement and innovation opportunities in sourcing and/or procurement of goods and services through knowledge of market trends and best practices.
• Identifies business needs, designs/develops tools and training programs; may include delivery of training to audiences.
• Builds effective relationships with internal/external stakeholders and ensures alignment between stakeholders, including developing an understanding of business partner needs and expectations.
• Provides advice and guidance to assigned business/group on implementation of solutions concerning category and supplier strategies, including the end-to-end risk management requirements associated with Outsourcing and Supplier Risk (OSR).
• Applies a disciplined methodology and procurement policies to the procurement of goods and services.
• Conducts analysis and develops insights and recommendations that are actionable in alignment with project/program goals.
• Develops solutions and makes recommendations based on an understanding of the business strategy and stakeholder needs.
• Collaborates in the management of sourcing category initiatives end-to-end.
• Identifies areas of opportunity through analyses of industries and supply markets, cost models for products and services, supplier category spend, and the performance of key suppliers in the market.
• Works with suppliers to create value/savings and mitigate risk.
• Incorporates market-leading processes and practices to mitigate risk, drive innovation, and maximize overall value for assigned sourcing categories and portfolios.
• Identifies, develops, and implements demand management and cost reduction opportunities, optimizes sourcing strategies, identifies and mitigates supplier risk, and negotiates effective controls through the supplier engagement process.
• Prepares project plans and keeps key stakeholders informed of the process and progress.
• Continuously upgrades knowledge on event and sourcing methodologies with a specific focus on strategic category development.
• Effectively communicates key messages/recommendations/results to all managerial levels.

Qualifications

• 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 procurement/sourcing.
• Strong Financial Services, Financial, or Cost Management experience.
• Knowledge of the Transportation & Vendor Finance businesses, processes, and procedures.

Pay

The pay range for this position is $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 represents BMO Financial Group’s expected target for the first year in this position. Total compensation may also 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.