Enterprise Vendor Portfolio Relationship Manager

at  Workplace Safety and Insurance Board

The Enterprise Vendor Portfolio Relationship Manager (EVPRM) is responsible for Enterprise-wide development, implementation, and coordination of framework elements for Third-party risk management (TPRM), Vendor and Contract Management functions; by serving as a subject matter expert and working collaboratively with external Vendors, Business Areas, and Strategic Sourcing and Vendor Services (SSVS) team.
This role will be accountable for the organizational implementation of third-party risk and associated vendor management framework for all WSIB Clusters/Business Areas. The EVPRM will coordinate data collection and harmonization with Business Areas, contract and vendor management resources where applicable. The EVPRM will also assist the Business Areas in the development of those functions and the associated resources in order to ensure compliance with the WSIB Vendor Management Framework (VMF) and associated third-party risk management activities. In addition, this role is also responsible and accountable for the application of the Vendor Management Framework to all contracts owned by Strategic Sourcing as part of the enterprise support function.
The role may involve access to highly sensitive information that is confidential in nature and as such must be managed accordingly.
The EVPRM will support the development of contract and vendor management resources by providing guidelines and material support for Business Areas in compliance with vendor and contract obligations, performance management and reporting, dashboards and tracking for internal and external stakeholders. The EVPRM will lead and assist management across the division in collaboration with the sourcing process, vendor management, governance and data analytics. This includes maintenance and enhancements of tools and system technology utilized.

JOB REQUIREMENTS:

1. Education requirements:

1. Lead, develop and create the engagement strategy for the third-party risk and vendor portfolio to ensure proper cadence to drive successful outcomes.

• Work with internal WSIB teams in all Ontario offices to integrate vendor management requirements into their methodologies and disciplines (e.g. performance, adherence to SLA/SLOs KPIs etc).
• Develop annual strategic plan for third-party risk and vendor portfolio and implement strategic direction across all relevant business units.
• Collaborate with SSVS staff and management to ensure third-party risk management and vendor management approaches and practices are incorporated into sourcing activities (e.g. competitive processes, annual procurement planning, category strategies etc.).
• Assist/support with managing cross cluster vendor relationships to align with the business’ strategic goals and objectives, understanding and reconciling competing priorities and evolving business requirements.

1. Review and work with business areas on vendor performance against agreed service levels by utilizing vendor scorecards and assessments to ensure the prompt and thorough resolution/escalation of performance issues, understanding/managing risks associated with customer-facing activities.

• Identify synergies, seek continuous improvement opportunities and implement initiatives to drive service delivery optimization, savings, pursue efficiencies, lower risk and increase capacity.
• Ensure that knowledge transfer occurs for consistency and business continuity, by developing, knowledge of marketplace and industry developments pertaining to vendor relationship, category and business requirements.
• Lead and manage the application of TPRM and VMF across the vendor portfolios with the utilization of the two primary verticals of the VMF, contract management and vendor relationship management.
• Conduct vendor segmentation exercises on the vendor portfolio to determine the current and future disposition, in collaboration with business areas/stakeholders.
• Utilize a risk-adjusted approach to analyze and provide third-party risk recommendations within the organization This role will also collaborate across the enterprise to integrate and support the vendor management function.

1. Provide leadership, where required, on Partner management and contract management activities such as: legal reviews, risk assessments, warranty claims, contract segmentation, regulatory, financial, procurement compliance, development of contract scorecards and response plans for contract and related business risks.

• Work collaboratively with the Procurement Analysis and Reporting function to ensure high quality work product through VMF/sourcing data and information stewardship.
• Organize, assemble and chair regular meetings with internal business areas and external vendors to review service delivery, contractual commitments, compliance, terms and vendor governance.
• Participate in the strategic planning and vendor analysis drawing on knowledge of the supply market from previous partner analysis by drawing on knowledge of the supply market and previous vendor management experience.
• Prepare report for strategic vendor performance tracking related to contract compliance, performance metrics (e.g. SLA, SLO, KPI etc.), internal customer surveys, risk program, dashboards and feedback from business areas.
• Ensure vendor risk management and governance oversight for vendors is achieved by ensuring compliance with contractual agreements.
• Act as a champion for the TPRM and VMF both internally and externally, championing a culture that is rooted in reciprocal benefit, trust, transparency, and accountability.

1. Working with the SSVS team to monitor service credits &/or penalties against vendor performance in accordance with contractual commitments, and review negotiated rates, rebate programs and volume thresholds against aggregated spend, invoice charges, and financial commitments.

• Create and conduct regular financial retrospectives to review vendor invoices and facilitate the resolution/escalation of invoice or credit abnormalities in accordance with the contact terms and conditions.
• Responsible for the continuous application of financial/contract analytics to provide information for annual budgets and identify any cost reduction opportunities.