Job Title: Technology Vendor Manager

Contract Length: 12 months

Location: Toronto, Ontario

Pay Rate : $45-$55/Hr (T4), $50-$65/Hr (INC)

Overview:

The Technology Vendor Manager will play a critical role in managing the end-to-end vendor management lifecycle for the Technology and Operations (T&O) and Commercial Banking groups, with a specific focus on the Treasury and Payment Solutions. This includes onboarding new vendors, negotiating contracts, managing risk assessments, and ensuring compliance with the bank’s policies and standards. The role also involves budgeting, managing financials for business application costs, and maintaining strong relationships with internal and external stakeholders.

Key Responsibilities:

Vendor Management:

• Manage a portfolio of vendors and the software applications they support.
• Oversee the onboarding process for new vendors and products, ensuring alignment with enterprise standards.
• Serve as the primary point of contact for vendor-related inquiries, managing relationships, and addressing quality and legal issues.

Contract Negotiations:

• Lead negotiations for third-party agreements, including Master Services Agreements (MSAs) and software licensing contracts.
• Collaborate with legal, procurement, and other stakeholders to ensure favorable terms and mitigate risks.
• Redline contracts and provide expertise in contract management.
• Risk and Cybersecurity Assessments:
• Manage and conduct vendor risk assessments, including cybersecurity evaluations, to ensure compliance with enterprise third-party risk management policies.
• Provide sound judgment in the risk assessment process and act as a subject matter expert for technology managers.

Compliance and Governance:

• Ensure compliance with the bank’s SOX agreements and outsourcing risk appetite framework.
• Act as the lead in vendor disputes requiring legal resolution.
• Maintain alignment with the bank's enterprise risk management policies and procedures.
• Budgeting and Financial Management:
• Manage budgeting and financials for business application costs related to vendor services.
• Analyze and report on vendor spend to identify cost-saving opportunities.

Stakeholder Collaboration:

• Build and maintain strong relationships with internal stakeholders, including product managers, legal teams, and enterprise groups.
• Ensure alignment between stakeholder needs and vendor deliverables.
• Effectively communicate analyses, recommendations, and updates to stakeholders at all managerial levels.

Team Collaboration:

Work closely with a team of 7–8 vendor managers, collaborating on shared goals and best practices.

Qualifications:

• 5+ years of experience in vendor management, procurement, or a related role within a technology-focused organization.
• Hands-on experience with contracts, MSAs, and contract redlining.
• Familiarity with vendor risk assessments and cybersecurity assessments.

Skills:

• Strong negotiation skills with a focus on minimizing costs while achieving objectives.
• Excellent time management, organizational, and multitasking abilities.
• Effective communication skills for engaging with stakeholders at all levels.
• Solid understanding of compliance requirements, including SOX and enterprise third-party risk management policies.

Technical Knowledge:

• Familiarity with budgeting and financial management for technology services and applications.
• Experience managing software licensing agreements and global resourcing.

Education:

Bachelor’s degree in Business, Finance, Technology, or a related field.