Procurement Specialist - Toronto, Canada - Fidelity Investments

Fidelity Investments

Verified Company

Toronto, Canada

1 week ago

Posted by:

Sophia Lee

beBee Recruiter

Description

Job Description

Position:
Procurement Specialist

This is a hybrid role with a mix of remote and in-office working

Current work authorization for Canada is required for all openings._

Company Overview

Established in 1987, Fidelity Investments Canada Inc. (FIC), provides Canadian investors with a full range of mutual funds, ETFs, and alternative funds.

Fidelity funds are available through a number of advice-based distribution channels, including financial planners, investment dealers, banks and insurance companies.

FIC manages over $168 billion (CAD) in mutual fund and institutional assets, as at December 15, 2020.

This includes $41 billion in assets for institutional clients, including public and corporate-defined benefit pension plans, endowments, foundations, and corporate assets on behalf of clients across Canada.

The Investment Management team focuses on research analysis and delivering strong returns, and is comprised of portfolio managers, research analysts, traders and more.

FIC has more than 1000 full time employees and is headquartered in Toronto, with regional offices in Montreal, Calgary, and Vancouver.

Position Overview

The Procurement Specialist leads medium to high-risk procurement negotiations, performs financial, commercial, technical and performance evaluations of medium and small suppliers, coordinates procurement processes, reviews, reconciles and presents data, and drives Fidelity's various Canadian business units in delivering optimized deals.

You seek to achieve value for services, maximize operational efficiency, and lead different Fidelity business units through the procurement process, from sourcing to negotiating to contract management.

What You Will Do

Evaluate and manage medium and large suppliers and implement Service Level Agreements (SLA) / Key Performance Indicators (KPI's) in agreements.
Perform financial, technical, and commercial evaluations of large and medium suppliers.
Participate in service level agreement (SLA) and key performance indices (KPI) negotiations with suppliers.
Assist and mentor vendor managers in managing external supplier relationships (e.g., performance management, service delivery, SLA/KPI monitoring and reporting, service extensions).
Manage quarterly vendor score carding process.
Launch RFP/RFI and evaluate suppliers based on results.
Collaborate with Fidelity stakeholders to develop sourcing strategies for products and services.
Leverage opportunities for and with other Fidelity procurement teams globally.
Determine the appropriate request for proposal/request for information to launch, prepare the relevant documentation and evaluate supplier capabilities and pricing.
Benchmark program costs and identify and implement cost saving opportunities.
Drive procurement deals to deliver optimally balanced solutions.
Assist with commercial and technical negotiations for contracts and trigger the involvement of relevant business units (i

e:
Legal, Finance, HR, Risk, IT, and Information Security) to review contracts and contract terms and ensure the timely completion of projects.

Work with Fidelity's international procurement teams to ensure that deals maximize economiesofscale across Fidelity, where appropriate, and deliver local/global cost savings initiatives.
Run and manage adhoc procurements projects.
Assist with Contract Management.
Identify and assist with the implementation of key contractual terms and conditions to meet business needs, limit liability, and reduce legal exposure.
Prepare contract summaries.
Identify and communicate contractual risks and opportunities.
Followup with Supplier Relationship Managers (SRM) to fulfill policy requirements.
Train SRMs as per policy requirements.
Relationship Management.
Expand and promote the role of Procurement throughout Fidelity.
Work closely with the supplier and business units to ensure Procurement is providing the highest level of support.
Work directly with business unit stakeholders to assess Fidelity's needs and provide guidance on strategy, opportunity assessments and sourcing execution.
Keep abreast of current and evolving business requirements and market capabilities to provide customized procurement support.
Develop, communicate, present, and deliver reports to management.
Automate and Streamline.
Assist with automation of various procurement processes and procedures to reach efficiencies within the group
Become a key communicator among various business units to streamline processes of the procurement group
Collaborate with local and international colleagues to gain insight on best industry practices

The Expertise You Bring

Proven experience in endtoend procurement of tech & nontech products and services.
Experience of supplier selection via formal request for information/proposal processes.
Excellent relationship management, team, and communication skills (both oral and written).
Strong negotiation, faci