BMO Financial Group Cost Advisor, Corporate Real Estate in Toronto, Ontario
Procurement is a group of skilled sourcing, risk, strategy, technology, finance and operations professionals located across North America. Our team drives the Enterprise’s vision of being the Bank that defines great customer experience through its Enterprise accountability to innovate and identify strategic levers to achieve targeted service and cost levels from suppliers and ensuring efficient and effective supplier management is critical to improving the Enterprise’s competitive position.
Are you someone who is able to critically think through problems and develop creative solutions quickly? Are you able to effectively leverage your leadership and management skills to drive key partnerships and relationships with those you interact with to influence and drive results? BMO is looking for a Strategic Sourcing Manager/Cost Advisor – Corporate Real Estate to join our Procurement team!
What is the opportunity?
The Strategic Sourcing Manager/Cost Advisor – Corporate Real Estate is a member of the Sourcing team in Procurement. The role will have prime accountability to lead the development and execution of sourcing strategies to achieve business and cost management objectives and maintain cost and pricing integrity for various Corporate Real Estate initiatives globally. This role will work closely with the line of business head within Corporate Real Estate and be accountable to manage designated spend categories across the business to support and achieve savings goals and objectives.
What will you do?
As the Strategic Sourcing Manager/Cost Advisor – Corporate Real Estate, you will:
Lead the execution of the sourcing strategy including the development and management of the project throughout its lifecycle including competitive events (RFPs, RFIs, reverse auctions) and facilitate supplier contract negotiations with appropriate internal business partners
Leads end to end management of sourcing category initiatives, identifying areas of opportunity through analyses of industries and supply markets, cost models for products and services, supplier category spend, and the performance of key suppliers in the market
Perform sourcing activities for capital projects as required including competitive events for specific construction projects within Corporate Real Estate (CRE’s) preferred General Contractor roster
Review/analyze quotes, estimates and other costs submitted by suppliers to ensure CRE is receiving favorable pricing from suppliers on small to large jobs alike
Develop, maintain and deepen relationships with business partners and external suppliers to achieve business objectives, savings goals and supplier cost management strategies
Act as a key partner for resolution or escalation of issues and concerns
Identify and support implementation of new strategic opportunities with CRE clients and suppliers, developing opportunity strategies, engaging stakeholders and facilitating due diligence as it aligns to the Bank’s Risk Management framework in a First Line of Defence (1B) capacity
Work with suppliers to create value/savings and mitigate risk
Developing Service Level Agreements (SLA’s) and Key Performance Indicators (KPI’s) with CRE so as to enable the effective management of the supplier relationship after contract signing
Assist with the development of a competitive bidding and supplier performance model for the construction program
Perform detailed reviews, analyses and validations on estimates, approval quotes and other costs put forward by suppliers on a regular basis
Critically analyze quotes and pricing put forward by suppliers and raise constructive challenges regularly when pricing is not aligned to market standards and industry benchmarks;
Perform value engineering activities with CRE and their suppliers to minimize costs to the organization while optimizing the value delivered
Perform invoice verification and spot audits to ensure invoices received from suppliers are aligned to the approval quotes and well-substantiated with supporting details
Work closely with cost consultants engaged by CRE and act upon collective insights on where costs can be further reduced
Work closely with BMO’s project managers on bid packages produced by General Contractors and review bid submissions received by their subcontractors on a project-by-project basis
Ensure sub-trade bids received by BMO’s preferred suppliers are in compliance to contracted rates with BMO where available
Negotiate complex agreements for Real Estate products and services – a working knowledge of CCDC agreements and Supplemental Conditions is an asset
Establish and maintain internal and external relationships, providing advice and direction concerning category and supplier strategies and by applying a disciplined methodology to the Procurement of goods and services
Work with all areas of CRE to identify and track additional savings achieved via CRE’s supplier management activities post-contract
Throughout established and documented processes, ensure all internal stakeholders are included in the sourcing and supplier engagement process (including supplier diversity; customer relationship managers, environmental sustainability, legal counsel and CS areas as required)
Business planning involving monthly, quarterly and annual savings forecasts based on sourcing project, category strategies, CRE supplier spend, productivity and demand management strategies
Provide Sourcing and CRE Leadership with regular reporting on savings achieved, trends, strategies and recommendations to optimize costs across CRE
What you bring to the table
Undergraduate or related college diploma in a related discipline (BA, CPA, CGA, CMA, Supplier Chain Management Diploma or Certificate). MBA and/or Master’s degree is an asset.
5-10 years in construction management preferred. Related experience to strategic sourcing, consulting, supply chain and or Procurement work experience is an asset.
Other certifications that are an asset: Real estate certifications, PMP and/or other related professional certifications (e.g. Six Sigma)
Strong project management, relationship management, negotiation, critical analysis and risk management skills
In-depth understanding and/or experience with negotiating construction contract structures including CCDC agreements (CCDC5B and CCDC2), Supplemental Conditions and Design-Build agreements
In-depth Financial Services, Financial or Cost Management experience with experience in savings methodologies (i.e. Cost Reduction, Cost Avoidance) and the financial treatment of same
In-depth understanding of the real estate industry, translating to Procurement and sourcing lens, in various categories (construction, furniture and professional services, facilities management, security and safety, food services, utilities and/or other real estate services such as brokerage)
Familiarity with labour & material rates, innovations and advancements in CRE practices/technologies
Working knowledge of sourcing and Procurement systems and applications (i.e. ARIBA, Coupa, Spotfire and Hiperos) as well as standard office tools (i.e. Word, Excel, PowerPoint, Microsoft Office)
Working independently with minimal supervision
We’re here to help
At BMO we have a shared purpose; we put the customer at the centre of everything we do – helping people is in our DNA. For 200 years we have thought about the future—the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together we’re changing the way people think about a bank.
As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.
To find out more visit us at https://bmocareers.com/ .
BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process.
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