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Senior Manager, Group Procurement

FWD Group Management Holdings Limited Kuala Lumpur, Malaysia
Posted 2 months ago Permanent Competitive
Senior Manager, Group Procurement
About FWD Group

FWD Group is a pan-Asian life insurance business with approximately 11 million customers across 10 markets, including some of the fastest growing insurance markets in the world. Established in 2013, FWD is focused on making the insurance journey simpler, faster and smoother, with innovative propositions and easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD is committed to changing the way people feel about insurance.

For more information please visit www.fwd.com

FWD Technology and Innovation Malaysia Sdn. Bhd., known as FWD TIM, was set up in late 2019 and is part of the FWD Group. FWD TIM in Malaysia is one of the FWD Group's office locations serving multiple markets within FWD Group and employing team members in various functions including Group Digital & Data, Digital Innovation, the IT Hub and our Centre of Excellence comprising Actuarial, Finance and Product Proposition functions.

Purpose
  • Key team member driving procurement transformation across the Group.
  • Lead the development and implementation of procurement strategies for full range of professional services categories.
  • Manage category management activities, sourcing, negotiation and contracting process for strategic and material spend to drive leverage, deliver cost and strategic benefits.
  • Lead vendor risk management and cost management initiatives.

Key Accountabilities
  • Manage procurement categories with primary focus on full range of professional services related spend and global vendor strategy, including professional, consulting services, HR services, contingent workers, etc.
  • Lead the development of category sourcing plan that sets short, medium and long term goals and objectives, partnering with the Group functions and business units' key business stakeholders.
  • Identify opportunities for operational efficiencies, risk mitigation and cost savings.
  • Implement appropriate category strategy across the Group to deliver target benefits and financial savings.
  • Execute end-to-end sourcing activities including but not limited to internal requirement analysis, supply market analysis, sourcing strategy development, competitive bidding process, commercial and contract negotiation. Collaborate with business stakeholders throughout the process.
  • Provide inputs for impact assessment and management of potential risk associated with different sourcing strategies. Conduct vendor risk management and due diligence activities.
  • Support procurement function related transformation projects and organization development in Group Office and Business Units.
  • Key procurement business partner for the designated business functions and categories. Support stakeholders on procurement best practice and risk management. Build business partnership, drive awareness and compliance of policy across the Group.
  • Manage key vendor relationships to optimize performance on cost, service and quality, including technical input to negotiations on strategically significant contracts.
  • Commit to deliver annual savings target for designated spend categories.
  • Support enhancement of procure-to-pay process and development of contract management initiative.
  • Support development and implementation of vendor risk and lifecycle management framework.
  • Identify potential supplier rationalization opportunity.

Key Performance Indicators
  • Value delivery: cost savings, business performance and efficiency improvement.
  • Service quality: stakeholder satisfaction of procurement services and advice.
  • Supplier risk management: comply with policies, mitigate risks and ensure continuity of supply.

External & Internal Contacts

Internal
  • Group Office functional executives and their team: build business partnership on procurement activities.
  • Group Finance Operations/TIM finance COE teams: provide guidance and streamline P2P process.
  • Business Units Finance, Procurement, and vendor contracts owners in different functions.
  • GO risk, compliance and IT teams for building and ongoing management of vendor risk and lifecycle management.

External
  • Vendors
  • External Consultants

Decision Making
  • Sourcing plan and vendor sourcing strategy including options, potential vendors and approach to the supply market.
  • Vendor selection criteria, critical commercial points and negotiation strategy of vendor engagement
  • Potential commercial and contract risk and the respective mitigation plan
  • Vendor engagement and contracting structure
  • Any specific vendor due diligence requirement

Qualifications / Experience
  • Over 10 years of relevant experience in procurement managing professional services related categories including professional, consulting services, HR services, contingent workers, etc. Strong understanding and hands-on experience of procurement category management best practice, relevant global and regional supply market, strategic sourcing, track record of end-to-end sourcing execution on high spend strategic negotiations, contract development and vendor management.
  • Experience working in financial institutions, preferably global/regional insurance company and relevant experience in top tier consulting firms.
  • Experience working in a dynamic, fast-growing, multi-national and -cultural business organizations.
  • Bachelor's Degree in Supply Chain Management, Business or other relevant degree.
  • Deep understanding and experience of contracts with complex structure.
  • A good technical appreciation of the range of procurement categories.
  • Knowledge and experience of source-to-pay system is essential, preferably Oracle Finance and Procurement systems.
  • Proven change management capability.
  • Excellent analytical and problem-solving skills with good attention to details.
  • Excellent written and oral communication skills and strong relationship management with stakeholders at different levels
  • Strong influencing skills at senior levels to influence acceptance of a new way of working and sourcing strategy.
  • Ability to negotiate at the highest levels with vendors.
  • Self-motivated, able to work independently and in a team to drive cross functional collaboration.
Job ID  R-0019881
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