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Strategic Sourcing Manager

2 months ago

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

At Prudential plc, we are committed to being partners for every life and protectors for every future. Our purpose drives everything we do, creating a culture that celebrates diversity and ensures inclusion for our people, customers, and partners. We provide a platform for our people to excel and make a meaningful impact on the business, and we support their career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

The Strategic Sourcing Manager will partner with business stakeholders and lead strategic sourcing, negotiations, and contract management activities. They will identify opportunities to maximize value and mitigate risk from IT expenditure while driving best practices in vendor monitoring and governance. This role requires the ability to engage and influence business stakeholders and key vendors that support our business requirements and Prudential's strategic objectives.

Key Responsibilities:

  • Develop and implement commercial conditions optimization strategies to reduce costs and improve efficiency.
  • Lead end-to-end buying activities above procurement threshold, collaborating with stakeholders to understand business requirements and align procurement strategies with organizational goals.
  • Define sourcing strategies that are aligned with Group Procurement, monitor vendor performance, and track achieved benefits.
  • Lead contractual negotiation on buying activities above procurement threshold, reviewing and analyzing supplier contracts, terms, and conditions.
  • Manage contract renewals and ensure stakeholders monitor contract performance periodically.
  • Continuously utilize best procurement practices and identify opportunities for improvement in the capability of the PHKL Procurement function.
  • Ensure compliance to the Procurement Policy and implement initiatives that drive awareness and compliance across the business.

Requirements:

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