Job Description

What is the opportunity?
The Senior Manager, Strategic Sourcing (Insurance and Investor Services) will influence sourcing decisions, drive supplier consolidation, cost savings and cost avoidance efforts. This role will partner with senior management to proactively develop negotiation and contract strategies for high risk/complex and sensitive sourcing initiatives. This role will gather and analyze data to create playbooks and strategies to support the different business models for services contemplated or currently under contract and prepare findings for senior management. This role will develop and negotiate complex (strategically critical, high value, or high risk) contract strategies that will provide cost effective, sustainable solutions to RBC businesses, and optimizing total value generated from RBC's supplier base.
What will you do?

• Identifies and analyzes the strategic issues and challenges related to various supplier strategies and recommends the best solution to senior management.
• Effectively prepare, coordinate and conduct all complex supplier negotiations. Creation and redline review of MSA, SOW, Transaction Agreements, Evaluation Agreements - pulling in the right Center of Governance and expertise as required
• Develop methodologies to capture savings as well as manage value driven negotiations.
• Negotiate complex supplier contracts, supports business groups in managing supplier contracts and relationships and drafts and makes necessary amendments to current contracts as necessary.
• Act as a trusted business partner to influence and lead key sponsors and stakeholders through the sourcing process, to gain buy-in, overcome challenges and deliver on high priority, high-risk, complex initiatives.
• Develop strategic sourcing strategies for specific business units executing purchases through the use of industry analysis, business knowledge, competitive analysis and sourcing expertise.
• Create plans to identify or recommend alternative suppliers against the sourcing execution plan, to maximize service levels and procurement activities and create alignment to long-term business strategies.
• Provide mentoring, coaching to help develop skills and abilities of team members to optimize future job performance.

What do you need to succeed?
Must have:

• 7+ years' Experience in global procurement, sourcing and relationship management
• Experience working and negotiating MSA's, Transaction Agreements/SOW's, Amendment Agreement, Evaluation Agreements and completing Executive Contract Summaries
• Experience running and facilitating RFx initiatives
• Strong communication skills, negotiation skills, business acumen, analytical skills and experience leading and supporting stakeholder interactions/relationship
• Post-secondary education in Finance, Related Purchasing field or Procurement Designation.

Nice-to-have:

• Experience working with Contract and Procurement software such as Coupa and iValua
• Procurement experience specific to IT segment, Professional Services, Software and/or Insurance related products
• Presentation Skills preparing executive summaries and reviewing with senior leadership
• People management skills specific to providing guidance and coaching to help build team capabilities

What's in it for you?
We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
• Leaders who support your development through coaching and managing opportunities
• Ability to make a difference and lasting impact
• Work in a dynamic, collaborative, progressive, and high-performing team
• A world-class training program in financial services
• Flexible work/life balance options
• Opportunities to do challenging work
• Opportunities to take on progressively greater accountabilities

#LI-POST
Job Skills Business, Business Strategies, Communication, Contracting Strategies, Contract Management, Contract Negotiations, Cost Avoidance, Cost Savings, Decision Making, Interpersonal Relationship Management, Leadership, Negotiation, Procurement, Reviewing Contracts, Risk Management, Sourcing and Procurement, Sourcing Strategies, Strategic Sourcing, Supplier Contracts, Supplier Evaluations, Supplier Negotiations, Supplier Relationship Management, Taking Initiative, Third Party Relationships, Vendor Management
Additional Job Details
Address: BAY WELLINGTON TOWER, 181 BAY ST:TORONTO
City: Toronto
Country: Canada
Work hours/week: 37.5
Employment Type: Full time
Platform: CHIEF LEGAL & ADMIN OFFICE GRP
Job Type: Regular
Pay Type: Salaried
Posted Date: 2025-10-23
Application Deadline: 2025-11-07
Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above
Inclusion and Equal Opportunity Employment
At RBC, we believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.
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