Vendor Manager

Job title:

Vendor Manager

Company

Randstad

Job description

The business Banking provides financial solutions to Canadian businesses. The Business Banking VMO supports a dozen LOBs, including Merchant Solutions, Auto Finance, and Commercial Banking. This role is a thought leadership position focused on driving the business forward and ensuring compliance with TPRM policies. You will be responsible for managing vendor relationships, performance, and risk.Position: Vendor Manager
Shift: M-F Core business hours
Location: Toronto, Ontario (In-office 2 days a week)Advantages
Work within a leading financial institution. Opportunity for growth and development.Responsibilities

• Facilitate phases of the Third-Party Risk Management Lifecycle and ensure compliance.
• Conduct Third Party Inherent Risk Assessments.
• Monitor vendor performance and risk via reporting/dashboards.
• Manage and drive timely contract renewals and negotiations.
• Manage and drive timely renewal of all contracts; Participate in/facilitate contract renewal and negotiation process, working with internal partners (Legal, Sourcing, Contracts) as well as business partners to ensure contracts and agreements maximize our values, meet business objectives, regulatory requirements, mitigate risks and meet TD policies and standards
• Possess a strong understanding of contractual terms and conditions, and their commercial implications to the business to effectively manage vendor agreement(s) and relationship(s) and ensure adherence to contractual requirements
• Lead the assessment/development of SLA’s, standards, policies, procedures and compliance monitoring plans that maximize customer satisfaction, decrease risk and/or mitigate to the maximum of availability, efficiency and effectiveness
• Collect/Review/Assess audit documentations (i.e. CSAE3416, SOC I/II) and determine next steps for remediation of gaps
• Provide oversight to ensure organized storage of evidence of all activities for audit readiness
• Provide oversight in support of invoice processing, ensuring procedures are in place, including billing, invoicing, rebates, performance/penalty adjustments and internal charge backs, where appropriate
• Closely monitor vendor spend (costs), proactively identifying opportunities to improve cost effectiveness and trends against budget forecasts
• Maintain a strong understanding of the Bank”s vendor management tools including Enterprise Spend Portal (ESP), Enterprise Contract Management (ECM), Hiperos, etc.
• Maintain and ensure satisfactory Internal and External Audits & Compliance requirements are met
• Build/foster solid relationships and organizational alignment with our business, sourcing, legal and contract partners, ensuring communication channels exist, attending/facilitating meetings and participating in working session
• Provide effective day-to-day coaching and guidance to colleagues; share and teach best practices
• Act as the leader in administering change management, performance management and the talent pipeline for the development of the team

Qualifications

• 5+ years of vendor management experience in the banking industry is preferred.
• Bachelor’s degree required.
• Strong understanding of contractual terms and conditions and their commercial implications.
• Excellent communication, presentation, and negotiation skills.
• Experience with risk management and compliance.
• Proficiency in Microsoft Office Suite.

Summary
If you are a highly professional individual with established relationship-building skills and experience in vendor management, apply now by sending an email to amey.bhise@randstad.ca with a subject line – Vendor Manager 55343Randstad Canada is committed to fostering a workforce reflective of all peoples of Canada. As a result, we are committed to developing and implementing strategies to increase the equity, diversity and inclusion within the workplace by examining our internal policies, practices, and systems throughout the entire lifecycle of our workforce, including its recruitment, retention and advancement for all employees. In addition to our deep commitment to respecting human rights, we are dedicated to positive actions to affect change to ensure everyone has full participation in the workforce free from any barriers, systemic or otherwise, especially equity-seeking groups who are usually underrepresented in Canada’s workforce, including those who identify as women or non-binary/gender non-conforming; Indigenous or Aboriginal Peoples; persons with disabilities (visible or invisible) and; members of visible minorities, racialized groups and the LGBTQ2+ community.Randstad Canada is committed to creating and maintaining an inclusive and accessible workplace for all its candidates and employees by supporting their accessibility and accommodation needs throughout the employment lifecycle. We ask that all job applications please identify any accommodation requirements by sending an email to accessibility@randstad.ca to ensure their ability to fully participate in the interview process.

Expected salary

Location

North York, ON

Job date

Thu, 12 Jun 2025 22:06:44 GMT

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