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Title:  Third-Party Advisor - Technology (IT Vendor Management)

 

 

 

Requisition ID: 108108

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

 

 

Purpose


The Third-Party Advisor – Technology is responsible for building, maintaining and enhancing relationships with IT vendors
and internal stakeholders (such as IT leadership and end users). This role serves as liaison to the business. They are tasked
with ensuring IT and business requirements align to specifications and priorities, and they are also tasked with arbitration
with IT vendors. The role is also responsible for the IT Vendor’s Risk, Performance, Financial and Contract obligations. The
Third-Party Advisor – Technology will be responsible for one or more vendor relationships, that includes strategic and nonstrategic
vendors, with varying level of engagement for each vendor based on the vendor’s Risk and Criticality. Overall, the
Third-Party Advisor must ensure that the organization achieves its objectives with vendors as per rights and obligations in
our contracts.

The role will manage vendor relationship(s) through all stages of the contract and vendor lifecycle, in alignment with relevant
BNS frameworks/methodologies, and with business and enterprise objectives. Provide leadership, direction and coaching
to stakeholder teams(s) while partnering with business and executive stakeholders within a line of business. Will facilitate
and / or support management of IT vendors (including those that fit the criteria for an “Enterprise” vendor.

 

Accountabilities

 

Vendor Contracts

 

• Work alongside procurement colleagues to assist with developing contracts and understand any current requests
for information (RFIs), requests for quotations (RFQs) and requests for proposal (RFPs) that are in the pipeline.
• Adhere to contract management objectives, procedures, templates and workflow processes for vendor contracts
and deliverable schedules. Maintain an updated contract management database that contains all executed
contracts, as well as contracts that are under development but are not yet active. Moreover, track obligations,
deliverables and contract change notices. Manage and control access to documents as appropriate.
• Work with legal representatives to develop and insert appropriate legal and commercial protections in contracts,
as warranted.
• Work with all teams (security, compliance and tax, HR, accounts payable [AP], and so on) to ensure that vendors
are performing in accordance with existing requirements and regulatory obligations.
• Develop a knowledge base of negotiating strategies, best practices, and negotiation personnel and teams. Make
improvements to processes, procedures, workflow and organizational structures for contract management.
• Administer commercial and financial arrangements with vendors to include billing, invoicing, performance
incentives and remedies, and internal chargebacks, where appropriate.
• Work with vendors and key stakeholders to establish clear contract change control processes.

 

Vendor Management

 

• Understand relevant market trends and vendors. Track, gather and analyze market and industry data and apply
learning to improve current vendor arrangements or propose alternative solutions
• Effectively communicate a clear and concise contract overview (summary of key contract terms, risks, opportunities
and service delivery guidelines) to key stakeholders, and provide clarity on contract elements when required.
• Be responsible for ensuring that pricing is competitive by commissioning benchmarks as needed during the lifetime
of the deal and participate in negotiating concessions from vendors
• Conduct periodic Business reviews (Annual/Quarterly) in collaboration with GPS Category / Sourcing leads
to ensure delivery against objectives and contract budgets. Develop regular reports on contract milestones,
execution and risk, and inform internal customers, vendors and management of activities and progress
through regular written and verbal communication.
• Monitor monthly vendor spend against financial plan, including IT&S Project Portfolio, Capex/Opex, Transit
& OP
• Provides strategic guidance to business/functional leaders to ensure escalated concerns/governance issues
are appropriately managed
• Manage multiple vendor relationships spanning across different service areas, and varying in complexity
• Develops proposals/recommendations related to vendor services and practices in connection with the
vendor(s)
• Deals with a range of complex issues and policies in the management of the vendor(s)
• Interprets data and assesses risks associated with policies/programs and provides
recommendations/escalates as appropriate
• Manage and Report vendor performance and risk at aggregate category and IT&S portfolio level (vs just
vendor level)
• Proactive identification, mitigation, monitoring, and management/resolution of Third-Party risks, including
risks that are specific to an individual vendor (e.g. Financial Health) and external risks (Political, Economic,
Social, technological, Legal, Environment) that may impact vendors
• Negotiate resolution of issues/disputes including contracts with settlement details
• Identify opportunity areas and help implements plans, business cases, etc. to execute opportunities to reduce
cost, increase revenue, improve operational efficiencies, and better manage risk
• Manage the communications process with vendors, utilizing various communication forums with internal and
externally facing audiences. Ensuring internal communication alignment and protocol with internal
stakeholders for consistent vendor messaging and interactions

 

IT Governance

 

• Oversee and coordinate a consistent set of IT governance standards to ensure Third-Party arrangements are aligned
to Technology business objectives including effective and efficient use of IT resources (evaluation, selection,
prioritization, and funding of competing IT investments aligned to strategy and standards).
• Collaborate with internal stakeholders and external third parties to optimize Scotiabank's 3rd-party IT expenditure,
increase velocity and value realization, while mitigating supply and regulatory related risks.
• Establish mutually beneficial relationships with third parties through the joint governance process, including
collaborating to jointly identify and implement innovation opportunities
• Establish Technology Third-Party Management processes to drive awareness/training, compliance, management
reporting, and competitive advantage in strategic third-party operations including Risk, Contract, Relationship,
Financial and Performance metrics, to govern vendors and Technology to contract commitments
• Adhere to standardized Third-Party management processes for Technology to comply with TPRM policies and
standards

 

General

 

• Leads and drives a customer focused culture to deepen client relationships and leverage broader Bank relationships,
systems and knowledge
• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Provides strategic guidance to business/functional leaders to ensure escalated concerns/governance issues are
appropriately managed
• Works closely and effectively with assigned business partners to ensure their requirements are met
• Accountable for the quality of advice and support provided to the business and achievement of the lines of business
overall objectives in relation to the vendor
• Creates an environment in which his/her team pursues effective and efficient operations of his/her respective areas,
while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations
with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited
to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management
Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct.
• Builds a high-performance environment and implements a people strategy that attracts, retains, develops and
motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviours;
communicating vison/values/business strategy; and, managing succession and development planning for the team

 

#scotiatechnology

 

Location(s):  Canada : Ontario : Toronto 

Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.  

At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, please click here. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.


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