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IT Vendor Management Specialist
2 months ago
About FWD Life Insurance Corporation
FWD Life Insurance Corporation is a leading pan-Asian life insurance business with a strong presence in 10 markets across the region. With a customer base of over 11 million, the company is committed to making the insurance journey simpler, faster, and smoother for its customers.
Job Summary
We are seeking a highly skilled IT Vendor Management Specialist to join our team. The successful candidate will be responsible for managing the team responsible for creating, processing, and overseeing purchase orders. This includes managing vendor relationships and contracts, negotiating contracts to get the desired pricing, and ensuring proper interdepartmental alignment and drive standardized practices across all FWD Life Insurance Corporation departments.
Key Responsibilities
- Manage end-to-end internal procurement process for IT vendors, collaborating across Group Finance and Procurement Departments.
- Lead regular level collaborative meetings between vendors and business, tracking, measuring, and reporting vendor's performance to ensure performance is met with service level agreement.
- Source and identify potential suppliers, comparing and evaluating offers.
- Manage all pertinent and relevant contracts and non-disclosure agreements with aligned vendors.
- Maintain relationships with suppliers to guarantee timely delivery of goods and services within Group Technology.
- Monitor and coordinate vendor processes and methods to approve vendors ensuring it is aligned with Vendor Management Policy.
- Identify improvement areas internally as well as perform closely with all internal stakeholders to prepare solutions.
- Participate to formulate / review frequently workflow processes, methods and policies for applying vendors driving for continuous improvement.
- Analyze market trends, identify opportunities for cost savings, and assess potential risks.
Requirements
- Bachelor's degree in Business Administration/finance/Supply Chain Management, or a related field.
- 5+ years' experience in vendor Management, procurement, purchasing, or supply chain management, with a focus on purchase order management.
- Proficiency in using procurement software and systems.
- Strong Experience with relationship management and third-party management principles/best practices.
- Strong Experience of managing and proceed end to end contract process in FSI industry.
- An Excellent communication and interpersonal abilities.
Preferred Qualifications
- Comprehensive understanding of procurement principles, including sourcing, vendor management, and contract negotiation.
- Good understanding of contractual language and contract law and uses this to draft clear, unambiguous and legally enforceable contractual obligations as well as identifying situations where potential obligations on FWD Life Insurance Corporation could be overly onerous or create undue business risks.
- Effective management of complex contracts without the need for support.
- Strong proficiency in using procurement software, ERP systems, and MS Office Suite.
- Exemplify good interpersonal communication skills at all levels of business users, IT, partners and vendors.
- Excellent with numerical data analysis.