Strategic Procurement Manager

6 days ago

Hong Kong, Central and Western District, Hong Kong SAR China Prudential plc Full time

**About Prudential plc**

Prudential plc is a leading international financial services group with a long history of delivering value to its customers and stakeholders. Our purpose is to be partners for every life and protectors for every future.

**Job Summary**

We are seeking a highly skilled and experienced Strategic Procurement Manager to join our team. As a key member of our procurement function, you will play a critical role in driving cost optimization initiatives, defining sourcing strategies, and leading end-to-end buying activities.

**Key Responsibilities**

  • Drive cost optimization initiatives by identifying sourcing strategies for vendors used by multiple departments, maximizing cost savings and minimizing risk.
  • Report regularly on the performance of cost saving initiatives.
  • 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.
  • 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, collaborating with stakeholders to understand business requirements and aligning procurement strategies with organizational goals.
  • Join tendering and evaluate vendors for significant company buying activities.
  • Introduce vendors 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.
  • Lead contractual negotiation on buying activities above procurement threshold, reviewing and analyzing supplier contracts, terms, and conditions, negotiating favorable commercial terms, including pricing, payment terms, and service level agreements.
  • Ensure stakeholders monitor contract performance periodically and manage contract renewals.
  • Continually utilize best procurement practices and identify continuous improvement opportunities in the capability of the PHKL Procurement function.
  • Support compliance to the Procurement Policy and implement initiatives that drive awareness and compliance to the Procurement Policy across the business.
  • Report regularly to Group and PHKL management on the performance of cost saving initiatives, RFP in pipeline, and support various data requests.

**Requirements**

  • Bachelor's degree in business administration, supply chain management, or a related field.
  • University degree with minimum 6 years of experience in strategic sourcing experience in the insurance industry.
  • Proven experience in Procurement functions.
  • Proven track record of delivering cost savings in sustainable business and value-added initiatives.
  • Experience and expertise with procure-to-pay and contracting system/tools.
  • Possess high-level integrity, work ethics, and good moral values.
  • Strong negotiation and contract management skills, with the ability to manage complex contract and supplier relationships.
  • Excellent communication and stakeholder management skills, with the ability to work effectively with cross-functional teams.
  • Work closely with diverse range of suppliers and possess knowledge of their capabilities, quality of supply, turnaround time, and price competitiveness.
  • Experience across Non-IT procurement categories such as Professional Services, Travel & Entertainment, HR, Marketing, and General Office Expenses, etc.
  • A strong passion for procurement and vendor management, excited about seeking new opportunities to demonstrate the value of effective procurement in business and actively pursuing to continuously improve, learn, and adopt market-leading procurement practices and principles in the industry.
  • Knowledge of procurement system (e.g. Coupa) and Microsoft Office (i.e. Excel, Access, and Word).
  • Excellent oral and written communication and presentation skills; fluent in spoken English and Chinese.
  • Willingness to challenge status quo.
  • Able to work independently and under tight deadlines.

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