VENDOR RELATIONSHIP MANAGER (M/F) recruitment
RBC Dexia Investor Services offers a complete range of investor services to institutions worldwide. Our unique offshore and onshore solutions, combined with the expertise of our 5,400 professionals in 15 markets, help clients grow their business and sustain enhanced performance through efficiency improvements and robust risk management practices.
Equally owned by RBC and Dexia, the company ranks among the world's top 10 global custodians with USD 2.8 trillion in client assets under administration.
Services offered
RBC Dexia’s innovative solutions include global custody, fund and pension administration, shareholder services, distribution support, securities lending and borrowing, reconciliation services, compliance monitoring and reporting, investment analytics, and treasury services.
rbcdexia.com
Purpose
This role is responsible for assisting the Director, Cost Management in the development, implementation and management of the RBC Dexia enterprise vendor management infrastructure in order to help achieve best value, manage costs, and manage risks of RBC Dexia’s third party relationships. Acts primarily as a consultant to the business leaders to monitor vendor performance and close gaps and ensure compliance with the vendor management program. This role Is responsible and accountable for leading end to end contract management and the analysis of vendor activity and performance, including the recommendations related to spend envelopes, vendor reviews, negotiations and demand management
Key Accountabilities
- Partner with RBC Dexia stakeholders to enhance, implement, manage a vendor relationship and governance model for vendors in the disciplines of performance (service delivery, change orders, problem management), financial, contract management, relationship, and risk management
- Responsible for identifying and facilitating successful transition of appropriate activities from key stakeholders into the RBC Dexia Cost Management function
- Drives efficiencies and optimizes costs by identifying supporting common metrics and capabilities, eliminated duplication in processes, including monitoring spend, invoices, demand management and other financial analysis (benchmarks)
- Manages end to end sourcing, outsourcing and contract management initiatives and activities including developing appropriate strategies, gathering market intelligence and benchmarks, vendor selection processes, negotiations and transitioning
- Manages escalation between RBC Dexia and vendors and negotiates and co-ordinates resolution
- Leads/assists the preparation analysis of documentation pertaining to performance reporting
- Supports the business partners in the implementation of joint RBC Dexia/vendor projects
- Lead and represent RBC Dexia in all related contract negotiations incl determining the appropriate governance processes and service level requirements
- Working with vendors and business partners develops and maintains comprehensive risk mitigation processes including BRP
- Establishes relationship governance model for each strategic vendor relationship
PRIMARY RESPONSIBILITIES
Vendor Relationship Management and Governance- Execution of a company wide standard vendor management process
- Management of RBC Dexia vendors at the enterprise level to maximize value and to minimize cost and risk to the organization
- Support to business leaders in the early stages of contract discussions to assist leaders and key stakeholders in the definition of their needs
- Leads and/or supports business leaders in running processes in relation to completing templates, researching and identifying appropriate vendors to receive a Request for Information/Proposal (RFI/RFP), and in completing the vendor scoring and qualification phase
- Manages or leads the management of third party relationships and working with internal business leaders sets strategic direction
- Support continuous and quality relationships with vendors and business stakeholders
- Management of the preferred vendor list, including the preparation of exit transition strategies as appropriate
- Performance monitoring: Support business leaders for contract monitoring, interpretation, and compliance to ensure the contracts are administered and executed appropriately
- Works with business leaders to develop effective performance management monitoring tools to optimize the organization’s ongoing relationship with the vendor
- Manages the escalation process of major issues with vendors as appropriate for effective resolution
- Schedules performance reviews with major vendors and appropriate internal stakeholders incl client satisfaction and service level measurements. Works actively and directly with vendors and business partners to close gaps
Information and Performance Management
- Invests continuous effort to develp and improve the organizational spend information for assigned vendors and categories including automation opportumities
- Provides ongoing support, training, tools within the VM Centre of Excellence
- Ongoing development of best in class tools to improve vendor performance at the operational, managament and leadership levels
Negotiation and Execution
- Develop sourcing and negotiation strategies, including gathering market intelligence for category spend envelopes, strategic relationships on behalf of the organization
- With the biusiness stakeholders, plan and undertake negotiations on behalf of the enterprise to ensure costs are minimized and risks are mitigated
- Responsible for leading the decision making process on the contract framework, incl commercial terms, the determination of governance structures and service level agreements. Oversees final legal reviews of contracts and ensures all relevant stakeholders have been involved and advised
- Contributes by reviewing and writing contract language, and developing amendments, extensions to contracts and change orders
- Obtains required approvals and ensure documentation is complete
- Assists business in negotiation of parental agreements set with our shareholders Dexia and RBC
Administration of Contracts
- Administration of our contracts to facilitate contract definition, risk mitigation, and vendor performance management
- Maintain and continuous improvement of templates, processes and tools and research of automation tools
- Continuous review and maintenance of contracts to identify and execute valuable opportunities, changes and updates
- Contribute to Vendor Management reporting tasks (savings, flash reports, etc.) and work within the team by researching automation tools
Authorities, Impact, Risk
- This role is expected to perform reasonably independently; reports to Director, Cost Management
- Impact of non-performance: lack of due process in vendor selection; inappropriate selection of vendors; inappropriate contractual language which could lead to legal implications, poor service and peformance by vendors, unnecessary costs, risks to completion of projects
- This role has the authority to manage key strategic vendor relationships, make decisions on approach and relationship governance models
- This role has the potential of exposing the organization to lost opportunities (financial) and risk
- Policies, cost management program and strategies
- Position is located in Toronto
- Scope: enterprise-wide
Working Conditions
- General office environment
Key Relationships
- Business leaders
- IT
- RBC and Dexia BIL strategic sourcing groups
- Director, Cost Management, Finance
- Global services ( Legal, Tax, Risk, Compliance, Strategic Initiatives and Project Control)
- Other management and staff in Finance
- GEC members
- Vendors
Time Allocation
- Should match the subheadings, above
- Vendor Relationship Management and Governance: 50 %
- Negotiation and Execution: 30%
- Administration of Contracts: 20 %
Special Conditions
- Overtime may be required during critical periods
- Participation in conference calls outside of normal working hours may be required
- Some travel may be required (0-25%)
EDUCATION AND EXPERIENCE
Required
- University-level accounting or business degree strongly preferred
- Training and certification(s) related to vendor management and outsourcing
- 5-10 years experience in a vendor management role
- Strong project management skills
- Focused on meeting timelines and deliverables
- Superior communication, presentation and negotiation skills (for interacting effectively with stakeholders (including senior management) and vendors
- Demonstrated understanding of interrelationship between project activities/deliverables and contractual obligations
- Ablility to advise on strategic direction, consequences of action/inaction
- Ability to lead change in a global environment while managing cost and risk
- Demonstrated ability to work collaboratively across jurisdictional, functional and cultural boundaries
- Strong business acumen
- Bilingual skills (English/French) an asset
Competencies
Behavioural
- Business acumen
- Strategic thinker
- Able to persuade and influence others to comply with processes
- Building partnerships with stakeholders
- Building partnerships with vendors
- Financial management
- Problem solving
- Corporate and risk awareness
- Driven to succeed
Technical
- Understanding of vendor management/governance and relationship management structures
- Understanding of sourcing/outsourcing methodologies
- Understanding of contracts including legal, commercial and business objectives and interpretion of same
- Change management
- Negotiation