Job Description:
1. Procurement Process Management:
- Source and evaluate vendors, products, and services with the use of RFP/RFQ/ procurement strategies, to align with the bank's technology strategy and business needs.
- Negotiate contracts T&Cs, pricing, and service level agreements with technology vendors to ensure optimal value
- Collaborate with internal teams, business units, and stakeholders to understand procurement needs, identify requirements/ specifications and ensure alignment with organizational goals.
- Manage the complete procurement lifecycle from requisition to delivery, 3-way match payment, implementation and vendor service quality review.
- Maintain accurate procurement documentation, tracker and records for audit purposes.
- Conduct market research to identify emerging technologies and cost-saving opportunities.
- Ensure compliance with banking regulations, internal procurement policies, and industry standards.
2. Vendor Management:
- Develop and maintain relationships with key technology suppliers and partners.
- Monitor and evaluate vendor performance against contractual obligations and SLAs, addressing any issues that may arise
- Support internal teams, business units, and stakeholders in vendor management activities.
3. Contract Management:
- Draft, review, and manage contracts, change requests, SOWs and addendums, with suppliers, ensuring compliance with company policies and legal requirements.
- Work with legal to finalize contracts with selected vendors, ensuring compliance with organization policies and legal requirements.
4. Vendor Onboarding & Third-Party Risk Management (TPRM):
- Responsible for timely coordination with internal stakeholders and vendors for Vendor Onboarding and the TPRM process.
- Coordinate with Risk, Outsourcing & various departments to ensure risk assessments, tracking of risks are captured on internal tools.
- Conduct vendor due diligence, risk assessments, and compliance reviews covering TPR, data risk, MAS outsourcing and EU DORA guidelines.
Requirements:
- Bachelor's degree in Business, Commerce, Information Technology, or related field.
- 4-6 years of procurement experience, preferably 1-2yrs in banking/regulated services.
- Knowledge of banking industry regulations and compliance requirements (e.g. MAS658, DORA).
- Experience with P2P Process, contract management, and vendor relationship management.
- Understanding of IT infrastructure, data centres, software licensing models, and technology services.
- Strong analytical skills with ability to evaluate complex proposals and contracts.
- Excellent negotiation and communication skills.
Preferred Skills:
- Certification in procurement or supply chain management (CIPS, CPSM, CPM).
- Experience with procurement & contract process, invoicing, payments, risk management and KYS tools - SAP, CONCUR, OTTER, COSMOS, FIRCOSOFT, ServiceNow, DocuSign etc.
- Knowledge of data center procurement, infra, h/w, s/w, outsourced consultancy services, storage, facilities, building management and broad range of categories.
- Familiarity with cybersecurity requirements in banking.
- Project management experience.
