We are seeking an experienced Senior Strategic Sourcing Lead – IT to join our Banking client. This is a critical leadership role responsible for driving strategic sourcing initiatives, managing complex vendor relationships, and overseeing end-to-end procurement processes for large-scale IT engagements. You will play a key role in optimizing supplier performance, mitigating risks, and delivering cost-efficient, high-value outcomes aligned with the organisation's strategic objectives.
Key Responsibilities
- Lead strategic sourcing initiatives for IT categories across the banking domain.
- Manage the full procurement lifecycle, including market analysis, RFx development (RFI/RFP/RFQ), evaluation, negotiation, and contract award.
- Oversee large and complex IT contracts, ensuring compliance, performance, and value delivery.
- Develop and maintain strong vendor relationship management frameworks, including governance, performance metrics, and continuous improvement initiatives.
- Conduct commercial negotiations to achieve favourable terms, cost savings, and risk mitigation.
- Identify, assess, and manage supplier and contractual risks, ensuring alignment with regulatory and organisational requirements.
- Collaborate with internal stakeholders (IT, Risk, Legal, Finance) to align sourcing strategies with business needs.
- Drive supplier innovation, cost optimisation, and service excellence.
- Monitor market trends and emerging technologies to inform sourcing strategies.
Required Skills & Experience
- Minimum 15 years of experience in strategic sourcing and procurement within IT, preferably in the banking or financial services industry.
- Strong track record in vendor management and managing strategic supplier relationships.
- Extensive experience handling large, high-value contracts and complex negotiations.
- Demonstrated ability to run end-to-end tender processes (RFP/RFQ lifecycle).
- Solid understanding of risk management principles, including contractual, operational, and third-party risk.
- Strong commercial acumen with excellent negotiation and stakeholder management skills.
- Familiarity with regulatory environments in banking/financial services is highly desirable.
- Exceptional communication, analytical, and problem-solving abilities.
Interested candidates please email your latest resume to [Confidential Information]
