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Sourcing Manager

Manulife Financial Corporation

This is a Contract position in Toronto, ON posted June 8, 2024.

We are a leading financial services provider committed to making decisions easier and lives better for our customers and colleagues around the world. From our environmental initiatives to our community investments, we lead with values throughout our business. To help us stand out, we help you step up, because when colleagues are healthy, respected and meaningfully challenged, we all thrive. Discover how you can grow your career, make impact and drive real change with our Winning Team today.

Working Arrangement

Hybrid

Job Description

Job profile summary

Manager, North America Procurement

This job description does not represent a comprehensive listing of job duties that are required of the employee performing this role. We reserve the right to change duties or assign additional duties at any time with or without notice.

People Leader Role: No

Essential Responsibilities

Individual Responsibilities:

•Lead cross-functional teams to execute on high to medium value/complexity sourcing projects and contracting efforts. Determine sourcing strategy and conduct analysis and negotiations.

•Influence requirements from business partners necessary to evaluate and select suppliers

•Conduct baseline and market analysis, develop sourcing strategy and conduct contract negotiations

•Manage sourcing resources and engage subject matter experts (such as legal, risk and finance) in support of a specific set of commodities and/or a business line

•Provide sourcing thought leadership and day-to-day oversight of resource activities

•Be responsible for the accuracy of contract archives

•Read and interpret contract terms and accurate explain to stakeholders about risks, limitations and challenges with contract terms

•Track expirations of existing contracts and develop work plan for renewals, interact with legal and drafting teams to incorporate results of negotiations into contract documents

•Provide supporting analytics to finance team to validate realized savings

•Manage relations with key business partners and project owners to develop/maintain strong working relationships

•Support vendor managers in execution of business led initiatives as necessary.

Job Requirements:

• 6+ years of progressive business experience in global Sourcing and/or vendor management and/or contract management

•Good knowledge of sourcing and procurement principles and best practices including RFPs/RFQs

•Experience and expertise with supplier contractual terms and conditions to mitigate legal and business risk

•Experience with sourcing and procurement systems and tools (e.g. Ivalua)

•Solid analytical skills

• Nice to have experience in the Financial and Insurance space.

•Undergraduate degree (business or Finance preferred)

Decision Authorities:

• Responsible for high to medium value negotiation and contracting activities to deliver savings and value consistent with business objectives and priorities.

#LI-Hybrid

About Manulife and 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 Asia, Canada, 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 2022, we had more than 40,000 employees, over 116,000 agents, and thousands of distribution partners, serving over 34 million customers. At the end of 2022, we had $1.3 trillion (US$1.0 trillion) in assets under management and administration, including total invested assets of $0.4 trillion (US $0.3 trillion), and segregated funds net assets of $0.3 trillion (US$0.3 trillion). 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

At Manulife/John Hancock, we embrace our diversity. 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, advancement and compensation, and we administer all of our practices and programs without discrimination on the basis of race, ancestry, place of origin, colour, ethnic origin, citizenship, religion or religious beliefs, creed, sex (including pregnancy and pregnancy-related conditions), sexual orientation, genetic characteristics, veteran status, gender identity, gender expression, age, marital status, family status, disability, or any other ground protected by applicable law.

It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will work with applicants who request a reasonable accommodation during the application process. All information shared during the accommodation request process will be stored and used in a manner that is consistent with applicable laws and Manulife/John Hancock policies. To request a reasonable accommodation in the application process, contact recruitment@manulife.com.

Salary & Benefits

The annual base salary for this role is listed below.

Primary Location

Toronto, Ontario

Salary range is expected to be between

$84,375.00 CAD – $151,875.00 CAD

If you are applying for this role outside of the primary location, please contact recruitment@manulife.com for the salary range for your location. The actual salary will vary depending on local market conditions, geography and relevant job-related factors such as knowledge, skills, qualifications, experience, and education/training. Employees also have the opportunity to participate in incentive programs and earn incentive compensation tied to business and individual performance.

Manulife offers eligible employees a wide array of customizable benefits, including health, dental, mental health, vision, short- and long-term disability, life and AD&D insurance coverage, adoption/surrogacy and wellness benefits, and employee/family assistance plans. We also offer eligible employees various retirement savings plans (including pension and a global share ownership plan with employer matching contributions) and financial education and counseling resources. Our generous paid time off program in Canada includes holidays, vacation, personal, and sick days, and we offer the full range of statutory leaves of absence. If you are applying for this role in the U.S., please contact recruitment@manulife.com for more information about U.S.-specific paid time off provisions.