Sourcing Partner, Enterprise Procurement
Job ID : 6895
Category : Finance
Brand : Definity
Regular/Temporary : Regular
Fulltime/Parttime : Full Time
Location : Waterloo, Canada
Definity includes some of Canada’s most long-standing and innovative insurance brands, including Economical Insurance, Sonnet Insurance, Family Insurance Solutions, and Petline Insurance. With strong roots that date back to 1871, we’ve grown to become a digital leader in the insurance industry. We’re proud to help our clients and communities adapt and thrive in a world of constant change.
Our promise to you: It’s better here. Why? Because we CARE, and we provide an employee experience that’s collaborative, ambitious, rewarding, and empowering.
Our ambition is to be one of Canada’s leading and most innovative P&C insurers. Come be a part of our journey, and love what you do.
Definity offers a flexible, hybrid work experience where employees work from the office and virtually depending on the type of work they are doing and who they are working with. Leaders partner with their teams to find the right balance of on-site and remote work that best meets the needs of their teams, colleagues, brokers and customers, while ensuring collaboration, teamwork and accountability for goals.
We are seeking a highly motivated and skilled Procurement Sourcing Partner to join our dynamic team supporting the Corporate Services department a permanent basis. As a Sourcing Partner, you will be responsible for developing and executing sourcing strategies to ensure the availability of high-quality services for our organization and customers. Your role will involve conducting market research, identifying potential suppliers, facilitating RFx processes, negotiating pricing and contract terms, presenting to executives/steering committees, and managing relationships with key stakeholders. The ideal candidate will possess strong analytical abilities, exceptional negotiation skills and a deep understanding of procurement practices.
What can you expect in this role?
- Strategic Sourcing: build and execute sourcing strategies that include; a) analysis of vendors (RFx/competitive bid processes, data analysis, etc.); b) financial reviews, cost comparisons; c) external market analysis, including analyzing purchasing trends; d) establishing category strategy; e) collaborating with internal stakeholders to understand business needs; f) liaising with external vendor partners; g) creating and delivering presentations to senior leaders and executives throughout the lifecycle of sourcing initiatives.
- Contract Negotiations: lead the negotiation strategy and/or support on contract negotiations with vendors to deliver value and savings to the organization.
- Contract Management: in partnership with Legal Services, act as the liaison between internal clients and vendors to resolve problems and or discrepancies, renew or terminate contracts, interpret terms and conditions and review and address contractual gaps. Deliver robust and comprehensive agreements that mitigate organizational risk.
- Relationship Management: developing and maintaining strong working relationships with internal stakeholders and external vendor partners. Collaborate with cross-functional teams to understand their requirements and provide guidance on sourcing options and identify strategic opportunities.
- Project Management: independently facilitates information gathering sessions with stakeholders and establishes reliable schedule for priority action items. Self-manage to ensure deliverables are completed within established timelines. Managing multiple priorities simultaneously. Prepare and present regular reports on sourcing activities, supplier performance, cost savings, and other relevant metrics to senior management.
- Category/Industry Knowledge: Conduct comprehensive market research and supplier evaluations to identify potential vendors and assess their capabilities, quality standards, and pricing models. Analyze market trends, monitor industry developments and identify opportunities for cost savings, process optimization, and risk mitigation.
What do you bring to the role?
- 7-10 years’ experience in a similar role within a corporate / business environment with direct experience in negotiating and drafting agreements
- You have significant sourcing/procurement experience, strong knowledge of procurement processes, sourcing strategies and contract management principles in one or more of the following areas: Insurance, Claims, Professional Services and with experience with outsourcing and managed services is an asset
- You are an effective communicator, influencer and negotiator with strong interpersonal skills
- You are a solution oriented strategic thinker and demonstrate analytical and problem-solving abilities, with a data-driven approach to decision-making
- You have deep experience using a variety of procurement tools including dynamic sourcing tools, auctions, spend analytics, procure-to-pay, contract lifecycle management, vendor management and third-party risk management as well as proficient in the development of executive level presentation materials
- You’re a seasoned procurement professional with a full understanding of applicable legislation and industry best practices related to contract agreements
- Your negotiation, presentation, facilitation, project management and planning expertise are second to none
- You are highly organized with an attention to detail and have the ability to work effectively in a fast-paced environment, prioritize tasks, and meet deadlines.
- You have a completed post-secondary education (university degree or public college diploma), and potentially CSCMP designation
- Insurance industry experience would be beneficial but is not required
We also take potential into consideration. If you don’t have this exact experience, but you know you have what it takes, be sure to give us more insight through your application and cover letter.
Go ahead and expect a lot — you deserve it, and we’ve got it:
- Hybrid work schedule for most roles
- Company share ownership program
- Pension and savings programs, with company-matched RRSP contributions
- Paid volunteer days and company matching on charitable donations
- Educational resources, tuition assistance, and paid time off to study for exams
- Focus on inclusion with employee groups, support for gender affirmation surgery, access to BIPOC counsellors, access to programs for working parents
- Wellness and recognition programs
- Discounts on products and services
Our inclusive work environment welcomes diversity and supports accessibility. If you require accommodation at any time during the recruitment process, please let us know by contacting: [email protected]
This role requires successful clearance of a background check (including criminal checks and leadership references).