Position Overview

We are seeking a detail-oriented and proactive IT Procurement Specialist to manage the acquisition of technology products, services, and solutions within our organization. This role requires expertise in end-to-end procurement (P2P), vendor onboarding, Third-Party Risk Management (TPRM), contract negotiation, and vendor management.

The successful candidate will work closely with internal stakeholders such as Legal, Risk, Finance, and Technology teams, as well as external vendors, to ensure procurement activities align with the organization’s technology strategy, compliance standards, and business goals.

Key Responsibilities

1. Procurement Process Management

• Source and evaluate vendors, products, and services using RFP/RFQ and strategic sourcing processes.

• Negotiate contracts, pricing, and service level agreements (SLAs) with technology vendors to ensure optimal value.

• Collaborate with internal stakeholders to gather procurement requirements and define specifications aligned with business needs.

• Manage the full procurement lifecycle including requisition, vendor selection, purchase order creation, delivery, implementation, and 3-way match payment processing.

• Maintain accurate procurement documentation, trackers, and records to support audits and compliance.

• Conduct market research to identify emerging technologies and cost optimization opportunities.

• Ensure procurement activities comply with internal policies, banking regulations, and industry standards.

2. Vendor Management

• Build and maintain strong relationships with technology vendors and strategic suppliers.

• Monitor vendor performance against contractual obligations and SLAs, resolving issues when required.

• Support internal stakeholders in vendor governance and relationship management activities.

3. Contract Management

• Draft, review, and manage contracts, Statements of Work (SOWs), change requests, and addendums with suppliers.

• Work closely with the Legal team to finalize vendor contracts in accordance with company policies and regulatory requirements.

4. Vendor Onboarding & Third-Party Risk Management (TPRM)

• Coordinate vendor onboarding processes with internal stakeholders and external vendors.

• Work with Risk, Outsourcing, and other departments to ensure risk assessments and approvals are completed.

• Conduct vendor due diligence, risk assessments, and compliance reviews, including:

  • Third-party risk (TPR)

  • Data risk assessments

  • Regulatory compliance (e.g., MAS outsourcing guidelines, EU DORA).

Qualifications

• Bachelor’s degree in Business, Commerce, Information Technology, or a related field.

• 4–6 years of procurement experience, with 1–2 years in banking or regulated industries preferred.

• Strong understanding of banking regulations and compliance frameworks (e.g., MAS guidelines, DORA).

• Experience with Procure-to-Pay (P2P) processes, contract management, and vendor relationship management.

• Knowledge of IT infrastructure, data centers, software licensing models, and technology services.

• Strong analytical and negotiation skills with the ability to evaluate complex vendor proposals and contracts.

• Excellent communication and stakeholder management skills.

Preferred Skills

• Professional certification such as CIPS, CPSM, or CPM.

• Experience with procurement and risk management tools such as:

  • SAP

  • Concur

  • ServiceNow

  • Docu Sign

  • FIRCOSOFT

  • OTTER

  • COSMOS

• Knowledge of data center procurement, infrastructure, hardware, software, consultancy services, and facilities management.

• Familiarity with cybersecurity requirements in the banking sector.

• Project management experience.
  
  ALC - R26159876
  Recruitment Consultant

  EA 05C3053
  BGC Group Pte Ltd (Outsourcing)

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