IT Procurement Contract Specialist (Banking)

Strategic Sourcing & Category Management is responsible for procurement (e.g., purchasing and supply chain activities) (e.g., negotiation, purchase, and relationships associated with outsourced services). Specializes in overseeing and managing strategies for procurement of information technology (IT) initiatives, formulating goals, objectives, and timelines. Collaborates with management to understand business requirements and develops plans to achieve objectives, such as cost savings, cost avoidance and concluding of contractual negotiations.

Job description:

• Review and negotiate IT contracts with suppliers on IT initiatives.
• Working in close collaboration with the strategic sourcing and procurement colleagues, group legal and IT stakeholders to protect and to optimize the value from the supply market.
• Ensure compliance to the Bank's policies, process standards and guidelines.
• Provide advice on contracts, explain impact of contract gaps and mitigate contract risks to the stakeholders effectively and collaboratively.
• Ensure the right risk culture through strong communication lines with stakeholders and colleagues.

Requirements

• Diploma or Degree Holder.
• 1 to 2 years of relevant experience in procurement, sourcing, contract management, vendor management, commercial analysis, or related functions.
• Experience reviewing contracts, Statements of Work (SOWs), quotations, commercial proposals, and supporting procurement documentation will be advantageous.
• Strong analytical and problem-solving skills with the ability to identify commercial, contractual, and operational issues.
• Good stakeholder management and communication skills, with the ability to work effectively with business users, vendors, Legal, Compliance, Risk, and Technology teams.
• Detail-oriented with the ability to review large volumes of information, perform data analysis, and prepare clear recommendations.
• Proficient in Microsoft Excel, PowerPoint, and Word.
• Familiarity with procurement, outsourcing, third-party risk management, contract review, or governance processes will be advantageous.
• Self-motivated, proactive, and able to manage multiple assignments in a fast-paced environment.
• Banking, financial services, technology procurement, or contract management experience will be an added advantage.