Strategic Sourcing Specialist

Posted 22 August 2023

Strategic Sourcing Specialist at Ontario Teachers' Pension Plan

Corporate Services Full-time Toronto

Experience: Not specified
Education Required: University degree in business or related subject area preferred
Salary Range: Not Specified

Close date: 21 September 2023

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Position Description

The opportunity

The Strategic Sourcing Specialist represents an exciting opportunity to join and support the strategic procurement team by contributing to the optimization of sourcing strategies and execution of sourcing processes for the enterprise.

Who you'll work with

You will be working in collaboration with other procurement team members and SMEs to analyze, source, evaluate and select suppliers, leading ongoing relationships and contract management. You will support contract management, collaborating closely with Legal, external vendors and internal partners.

What you'll do

  • Recommend and implement cost reduction strategies, analyze the current category landscape, conduct market analyses, recommend short-term and long-term sourcing opportunities, facilitate strategic supplier selection to optimize cost, quality, lead-time, service, innovation, risk and value, for low to medium complexity contracts.
  • Responsible for leading the sourcing and contracting process for low to medium complexity tasks, support the negotiation process of contract pricing, terms and conditions; and facilitate the cross-functional contracting navigation process between SME, Legal, IT Info Security, Privacy Compliance and vendors.
  • Leverage standard contracts to support contract drafting activities, and liaise with internal and external partners to finalize contracts and business terms.
  • Optimize the supply base structure and develop effective relationships with suppliers associated with assigned projects.
  • Optimize and supervise critical metrics to assess and lead supplier performance including performance metrics, vendor risk assessment and mitigation, and improvement initiatives.
  • Develop and maintain vital tools, templates, processes to support efficient sourcing in procurement and track performance of category portfolio and associated suppliers.
  • Develop and execute on a pipeline of savings opportunities with tracking of realized savings
  • Track and report the performance of the projects, as well as handle any modifications to the projects.
  • Support ad-hoc transactional, organizational change and contract management activities as needed.
  • Ensure a collaborative process with all team members.
  • Responsible for developing, gathering, analyzing, recommending, implementing and reporting on key elements of the accountabilities identified.
  • Plan own work to meet given objectives and processes, influence team and peers.
  • Responsible to making recommendations as it relates to sourcing strategies and execute implementation.

What we’re offering

  • Pay-for-performance environment that offers competitive salary and incentive
  • Numerous opportunities for professional growth and development
  • Comprehensive employer paid benefits coverage
  • Retirement income through a defined benefit pension plan
  • The opportunity to invest back into the fund through our Deferred Incentive Program
  • A flexible/hybrid work environment combining in office collaboration and remote working
  • Competitive time off
  • Our Flexible Travel Program gives you the option to work abroad in another region/country for up to a month each year
  • Employee discount programs including Edvantage and Perkopolis
  • Degreed: a digital platform that helps you quickly and easily discover, share, and track various learning resources — from courses to videos to articles and more

At Ontario Teachers', diversity is one of our core strengths. We take pride in ensuring that the people we hire and the culture we create, reflect and embrace diversity of thought, background and experience. Through our Diversity, Equity and Inclusion strategy and our Employee Resource Groups (ERGs), we celebrate diversity and foster inclusion through events for colleagues to connect for professional development, networking & mentoring. We are building an inclusive and equitable workplace where our talent is respected, accepted and empowered to be themselves. To learn more about our commitment to Diversity, Equity and Inclusion, check out Life at Teachers'.

Required Skill / Experience

  • University degree in business or related subject area preferred
  • Relevant work experience and track record in strategic sourcing of related categories
  • Between 3 - 5 years’ experience in strategic sourcing, contract negotiation, competitive price analysis, in one or more specific category, such as, SaaS, Marketing, or Consulting Services, would be an asset.
  • Solid understanding and experience in strategic sourcing, contract negotiation, cost savings and vendor management
  • Strong problem solving skills, business and financial acumen
  • Excellent capability to negotiate, influence, make recommendations, facilitate decisions and prioritize work Ability to develop credibility and manage relationships with all levels of management, business partners and vendors
  • Cost-saving initiatives (examine data and help with reducing costs in all operations)
  • Project management capability
  • Strong client service orientation
  • Strong critical thinking and problem solving skills leading to sound judgments/ decisions
  • Communication & Influence – influences and communicates well with a variety of audiences (internal and external)
  • Solid understanding of Procure to Pay tools
  • Proven track record to act in an ethical and transparent manner
  • Solid understanding of Excel and MS Office Suite.


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