Manulife Financial Corporation
Are you looking for unlimited opportunities to develop and succeed? With work that challenges and makes a difference, within a flexible and supportive environment, we can help our customers achieve their dreams and aspirations.
This role reports to Head of Sourcing, North America and is responsible for the end-to-end management of ‘Professional Services’ spend category including developing and executing a global sourcing and vendor management strategy. Professional Services category at Manulife comprises of contingent labor (including Managed Services Provider, independent contractors, payrollers), statement of work-based suppliers (such as Accenture, TCS, Wipro, Infosys), as well as management consulting (eg.
Deloitte, Bain, McKinsey, Accenture etc.)
The candidate will be expected to work closely with key stakeholders in the businesses, leverage his/her deep knowledge of the category, to identify and implement effective cost reduction strategies and change management plans. He or she will deliver targeted savings through actions such as consolidating global company-wide purchasing volume and applying total cost of ownership levers to reduce cost and manage contracts with suppliers.
- Thoroughly understand spend category of professional services, vendor landscape, industry trends, and new emerging developments and service offerings. Apply analytics to identify cost and demand reduction opportunities
- Integrate closely with the leadership team(s) of the businesses he/she supports to understand business unit goals and priorities, provide thought leadership on emerging vendor models, and align and set proactive sourcing agenda
- Define strategy for the category, and execute cost reduction actions proactively
- Quantify savings achieved, drive efficiencies, centralize competencies and maximize the value of vendor relationships
- Define, report, and achieve vendor metrics and reporting - both strategic and tactical
- Influence and develop supplier negotiation strategies in conjunction with Tower Lead
- Holistically understand and leverage key vendor relationships within the category
- Lead supplier negotiations, particularly for large complex transactions, and ensure execution of developed strategy
What will be expected from Me?
- Undergraduate degree (business or finance preferred) with 10+ years of progressive business experience in finance, and/or vendor management
- In-depth knowledge of sourcing and procurement principles and best practices
- Experience working in the relevant spend category, directly and/or in a procurement organization
- Experience with sourcing and procurement systems and tools
- Solid analytical skills
- Knowledge of financial services industry or a role that entails knowledge of professional services preferred
- Understanding of standard contractual terms and conditions to mitigate legal and business risk
- Technical and professional knowledge - demonstrated understanding and application of procurement and vendor management principles and best practices.
- Problem analyzer and decision maker - effectively searches and uses industry and market insights; able to assimilate, synthesize, and present complex information in a value-added form; attention to detail; evaluates feasibility and practicality of ideas and options; takes ownership and makes informed and timely decisions.
- Proven innovator - expert in identifying and implementing change management and business process transformation; consistently challenges the status quo; takes balanced risks to promote growth of ideas; comfortable in high pressure environments.
- Strategic thinker - thinks conceptually beyond day-to-day business realities; creates a clear vision and goals and adopts a long-term perspective; anticipates emerging issues.
- Global thinker - dedicated to improving the Company’s competitive position on an enterprise and global level; understands and is respectful of what works in different parts of the world and what doesn’t.
- Team builder - builds strategic partnerships with internal clients and vendors; builds buy-in and engagement with key stakeholders.
- Skilled communicator - communicates complexity with clarity and ease; articulates a clear view of concepts, ideas, and objectives; able to interface with different stakeholders at all levels; represents the company externally with confidence; skilled in both oral and written communication.
- Collaborator - shares resources and leverages knowledge across the organization; builds and nurtures an extensive network.
Location is open to Toronto, Boston, Waterloo or Montreal
If you are ready to unleash your potential, it’s time to start your career with Manulife/John Hancock.
Manulife Financial Corporation is a leading international financial services group that helps people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across our offices in Canada, Asia, and Europe, and primarily as John Hancock in the United States. We provide financial advice, insurance, and wealth and asset management solutions for individuals, groups and institutions. At the end of 2020, we had more than 37,000 employees, over 118,000 agents, and thousands of distribution partners, serving over 30 million customers. As of December 31, 2020, we had $1.3 trillion (US$1.0 trillion) in assets under management and administration, and in the previous 12 months we made $31.6 billion in payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 155 years. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.
Manulife is an equal opportunity employer. We strive to attract, develop and retain a workforce that is as diverse as the customers we serve and to foster an inclusive work environment that embraces the strength of cultures and individuals. We are committed to fair recruitment, retention and advancement and we administer all of our practices and programs based on qualification and performance and without discrimination on any protected ground. It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will consult with applicants contacted to participate at any stage of the recruitment process who request any accommodation. Information received regarding the accommodation needs of applicants will be addressed confidentially.
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