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Senior Vendor Manager

Toronto, ON
Full Time
6 days ago
Company Overview

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Department Overview

Wealth Shared Services is the group of experts responsible for driving operational excellence in Wealth, managing a robust control environment and promoting data driven decision making. The team includes: Wealth Business Management Group; Wealth Operations; Strategy, Products & PAIR; Wealth Data, Analytics and Reporting; Strategic and Editorial Content.

The Wealth Vendor Management Office (WVMO) is an integrated member in the Business Management Group (BMG) within Wealth Shared Services. We are a centralized support group accountable for adhering to TD Bank's Third-Party Policies by developing, implementing and executing on vendor strategies through a four-pillar approach for Wealth Vendor Management:
  • Risk & Control
  • Performance Management
  • Relationship Management
  • Value for Money

Job Description

As a key member of the WVMO, the successful candidate will manage strategic, critical and/or complex vendor relationships through all stages of the agreement lifecycle, in alignment with TD Bank's framework and methodologies; and with business and enterprise objectives. The role will provide leadership, direction and coaching to teams while partnering with business and executive stakeholders with a focus on developing strategic roadmaps for key vendors optimizing vendor costs, efficiencies and enterprise capacity.

  • Manage, coach, lead and mentor team members, fostering an environment of continuous learning, including the sharing of experience and knowledge across the team
  • Participate fully as a member of the team and contribute to a positive work environment that encourages productivity, professionalism and teamwork
  • Make an impact by getting things done, focusing on what matters, owning and delivering superior results for all stakeholders in both the short and long-term
  • Support the four pillars in WVMO as stated above ensuring vendor relationships are continuously optimized with a focus on value for money or optimization of vendor costs
  • Responsible for the execution of strategies and initiatives to achieve a high-quality vendor service while supporting the growth objectives of the line of business and the Bank
  • Understand the varying objectives of all business stakeholders, facilitating the process to bring all parties together and contributing to the development and delivery of enterprise programs and initiatives to maximize value for third-party spend in the context of enterprise goals and specific business objectives
  • Partner with key stakeholders in setting direction for TD's most critical or strategic vendor relationships, developing vendor roadmaps, leading the implementation of the vendor strategy and development plans
  • Ownership of vendor relationships, in partnership with appointed Accountable Executive, including seeking continuous improvement opportunities and implementation of initiatives to drive savings, pursue efficiencies, and increase capacity
  • Remain abreast of market, industry and supply-chain developments, draw on knowledge and expertise of supply market and vendor(s) to provide decisive support, guidance and input as appropriate for the purpose of vendor analysis, strategic planning and selection
  • Partner with and support VM team's active engagement with Strategic Sourcing to devise and implement various strategic sourcing strategies to standardize and/or centralize sourcing activity, reducing the cost of goods and services, consolidating the supplier base or improving internal controls
  • Develop an understanding of technical and business aspects of vendor services in order to identify synergies, seek continuous improvement opportunities and implement initiatives to drive savings, pursue efficiencies, and increase capacity
  • Manage relationships with key business owners and Executive stakeholders
  • Partner with Vendor Management Centre of Excellence to influence the development and lead the delivery of policies and programs to support business objectives
  • Oversee the tracking and collection of service credits and/or penalties against vendor performance in accordance with contract commitments; maintaining enterprise-level oversight of vendor penetration and spend against purchase and utilization forecasts ensuring the prompt and thorough resolution and escalation of performance issues
  • Oversee and facilitate on-going vendor governance and oversight including the onboarding of new vendor initiatives per the Bank Sourcing Policies that varies with risk rating
  • Understand contractual terms & conditions and amendments, and their commercial implications to the business in order to effectively manage vendor agreements, relationships and associated risks; representing the needs of the business during vendor negotiations
  • Remain apprised of all risk related policies and provide guidance to ensure business and vendor compliance to the Vendor Policy and Handbook
  • Support in the resolution of enterprise-level risk and compliance issues related to the vendor
  • Lead the implementation of action and remediation plans to address performance, risk and governance issues

Additional Information
  • Maintain enterprise oversight of vendor performance; including oversight of vendor performance management, reporting disciplines and remediation plans to address issues highlighted at the enterprise level
  • Facilitate/support application of appropriate governance structure and discipline as agreed by the executive comm
  • Bachelor's Degree or equivalent experience
  • Strong analytical skills
  • Demonstrated financial analysis skills including development and presentation of project business cases
  • Excellent oral and written communication skills
  • Strong decision-making skills
  • Excellent written and verbal communication skills
  • Demonstrates skills in managing client and or partner relationships
  • Creative problem solver
  • Ability to work in a highly structured, yet dynamic working environment
  • Work effectively within a team and independently
  • 5-7 years of experience in vendor management an asset
  • Wealth Management industry knowledge an asset
  • ittee



At TD, we are committed to fostering an inclusive, accessible environment, where all employees and customers feel valued, respected and supported. We are dedicated to building a workforce that reflects the diversity of our customers and communities in which we live and serve. If you require an accommodation for the recruitment/interview process (including alternate formats of materials, or accessible meeting rooms or other accommodation), please let us know and we will work with you to meet your needs.
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About TD

The Toronto-Dominion Bank & its subsidiaries are collectively known as TD Bank Group (TD). TD is the sixth largest bank in North America by branches & serves approximately 22 million custom...

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Banking & Finance
10,000+ employees