Senior Manager, Finance Procurement

6 months ago

Hong Kong, Hong Kong SAR China Prudential plc Full time

Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

The Sourcing Senior Manager will partner with business stakeholders and actively lead and support strategic sourcing, negotiations and contract management activities whilst continuing to identify opportunities to maximize value and mitigate risk from PHKL IT expenditure whilst also driving best practices with regards to vendor monitoring and governance third-party arrangements,

The Sourcing Senior Manager will be expected to work under the direction of Group Procurement. The role also requires an ability to engage and influence business stakeholders and externally, with key vendors that support our business requirements and Prudential’s strategic objectives.

Job Descriptions:

Commercial conditions optimization

Identify opportunities for spend optimization and risk mitigation through detailed spend analysis and IT category spend expertise (particularly pertaining to cloud spend, software licenses, SaaS and PaaS platforms, digital, network & telephony, IT professional services and contingent labor, hardware leasing and infrastructure to name a few) To seek consolidation of the vendor base through identification of vendor rationalization opportunities and establishment of preferred vendors and strategic partnerships where applicable across the business

Strategic procurement

Define sourcing strategies that are aligned with Group Procurement, monitor vendor performance and track achieved benefits Lead end-to-end buying activities above procurement threshold. Collaborate with stakeholders to understand business requirements and algin procurement strategies with organisation goals Join tendering and evaluate vendors for significant company buying activities. Introduce vendor to business for RFP process Provide guidance, coaching and oversight for business to conduct comprehensive supplier evaluations. Review and approve designed RFP, scorecard and recommendation of award prepared by business. Manage vendors on price negotiation, terms and conditions. Handle any ad-hoc engagements assigned by the manager.

Contract negotiation

Lead contractual negotiation on buying activities above procurement threshold. Review and analyse supplier contracts, terms and conditions. Negotiate favourable commercial terms, including pricing, payment terms and service level agreements. Ensure stakeholders to monitor contract performance periodically. Manage contract renewals.

Project & Initiatives

To continually utilize best procurement practices and identify continuous improvement opportunities in the capability of the PHKL Procurement function Ensure compliance to the Procurement Policy and implement initiatives that drive awareness and compliance to the Procurement Policy across the business Present regularly to Group and PHKL management on the performance of cost saving initiatives, RFP in pipeline for example, and support various data request

Job Requirements:

Bachelor’s degree in business administration, supply chain management or a related field. University degree with minimum 10 years of experience in strategic sourcing experience, preferably in the insurance industry Proven experience in Procurement functions preferably in IT Proven track record of delivering cost savings in sustainable business, and value-added initiative Experience and expertise with procure-to-pay and contracting system/tools

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