Head of Strategic Sourcing (Vendor Management)

Headquartered in Toronto, Canada with 74,000 employees in offices around the world and assets exceeding CDN $435 billion, The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Financial Group (TDBFG). TD Bank Financial Group offers a full range of financial products and services approximately 17 million customers world wide through four key business lines: Canadian Personal and Business Banking including TD Canada Trust; Wealth Management including TD Waterhouse and an investment in TD Ameritrade; Wholesale Banking including TD Securities and US Personal and Commercial Banking including TD Banknorth and Commerce Bank. The Toronto-Dominion Bank trades on the Toronto and New York stock exchanges under the symbol “TDâ€�, as well as on the Tokyo Stock Exchange. Following TD Bank Financial Group's acquisition of Commerce Bancorp Inc. on March 31, 2008, it was announced that operations of TD Banknorth and Commerce Bank will be combined under the brand name TD Bank, America's Most Convenient Bank® . Today, TD Banknorth and Commerce Bank form one of the 20 largest commercial banking organizations in the United States with over $109 billion in assets, and provide customers with a full range of financial products and services at nearly 1,100 convenient locations from Maine to Florida.  Our vision is to be the Better Bank – the best run, integrated, Customer-focused financial institution, wherever we compete.   Head of Strategic SourcingCherry Hill, NJ The Head of Strategic Sourcing Group, US, will be an integral part of the North American Sourcing group and leveraging the North American Strategic Sourcing Competency Centers or SME’s. Principal Responsibilities: Work closely with executives and commodity managers across functional areas in order to build strategic sourcing influence, to set strategic sourcing policy/ direction, and to leverage the bank’s consolidated purchasing power globally. Negotiate all large, long-term commitments with suppliers in such a way to ensure that both short-term and long-term service and cost objectives set by the Bank are met. Develop/maintain an effective and efficient firm-wide supplier diversity program. Leverage savings measurement processes and tools created by the TDBFG Sourcing group that quantify the impact of strategic sourcing cost reduction; build new processes and tools where required or appropriate. Drive sourcing of various business process outsourcing arrangements for internal business processes globally and provide a corporate “portfolio governanceâ€� function over material outsourcings.  Accountabilities: Formulate supplier/supply chain strategies that support and enable general TD strategies, and specific TD BU strategies. Develop strategies to optimize the Bank’s spend on external goods and services, including supplier rationalization, supply chain management, offshoring and supplier risk. Ensure close alignment between the Sourcing group, the TD BU supplier relationship managers and suppliers. Ensure supplier and outsource arrangements meet all policy and regulatory requirements, while protecting the Bank’s reputation by using a documented best practices framework. Ensure compliance with the Bank’s expense policy framework and legal signoff policy. Requirements: The successful candidate will possess a minimum of 10-15 years of broad-based senior leadership experience within Fortune 500 companies in high transaction industries.  The last 5 years should have focused exclusively on the sourcing / procurement area. Must have a track record in implementing best-in-class procurement, strategic sourcing, outsourcing and vendor management systems. Must possess comprehensive business insight and experience in developing and implementing enterprise-wide procurement systems and processes with companies that are recognized for state-of-the-art supply chain systems. Must be able to see the big picture while concurrently being able to dig into the details in order to ensure optimum business solutions, processes and systems. Must have a proven track record in building effective relationships both up, down and across the organization. The ability to provide leadership, influence and direction regardless of reporting relationships. Bachelor’s Degree  To apply for this position please visit www.commerceonline.com, click JOIN OUR TEAM and complete an online application. This opportunity can be found listed under the EXECUTIVE  Job Category.  EOE, m/f/d/v. Drug testing and background check required. TD Banknorth, Commerce Bank and TD Bank are trade names of TD Bank, N.A.  Commerce Bank is a trade name of TD Bank, N.A.