Senior Manager - Procurement - Life Insurance

We have very urgent position in one of BEST MNC JV of LIC organization --

POSITION - Senior Manager - Procurement

Level : Senior Manager

REPORTING TO : VP - Procurement

LOCATION - Gurgaon ( hq )

OFFERED CTC - upto 12 lacs (APPROX ) ; depending upon last drawn CTC, total experience .

JOB PURPOSE :

Responsible for day to day procurements of various functions in the company such as Operations, Sales Training, HO admin & Hub admin, handling spend of approx INR 20-25 Cr and meeting the TAT of over 95% for fulfilling the requirements as per procurement policy. The role includes Outsourcing, cost benefit analysis, vendor management, vendor finalization, negotiations and closing transactions with meeting all compliance requirements and enhancing business efficiencies.

Able to drive continuous improvements in the process through simplification and value addition.

End-to-end management of Procurement workflow in terms Automation, Simplification by cutting non value adding processes and handling of day to day operations in close coordination with internal customer and Service Provider.

Principal Accountabilities: Key activities and decision making areas

Typical Targets and Measures:

Impact on the Business / Function

- Ensure procurement process is followed

- Manage Customer Relations

- Workflow Changes

- Manage workflow effectively

- Resolve day to day operational issues.

- Address issues of deviation and give viable solutions to everyday problems.

- Build supplier/ product/ service databases.

- Ensure contractual obligations and statutory compliance is fulfilled.

- Creates evaluation matrices for products & services

- Interact with internal customers regularly.

- Do dip stick analysis of customer needs and build strategies to meet them.

- Ensure established TATs are met.

- Train individual SPOCs in all depts.

- Drive the Automation of various manual processes.

- Evaluate and simplify the existing worflow through continuous customer feedback.

- Manage day to day workflow changes such as additions / deletions of licenses

- Optimization of licenses to get value for money

- Automating MIS to meet the time to time requirements of Procurement

- Documentation for workflow processes.

Customers / Stakeholders:

- Interact with Sales Trg, Finance, Investments, Acturials on an everyday basis.

- Build strategies to meet customer needs.

- Ensure established TATs are met.

- Train individual SPOCs in all depts.

- Build and develop long term relationships with vendors/ suppliers/ service providers.

Leadership & Teamwork:

- Train internal team members on the current process/ work flow

- Giving responsibilities to the team members so that they can get the task closed end to end.

- Regular meetings to understand the issues they face on day to day basis.

Operational Effectiveness & Control :

- Be able to raise critical issues/ identify risks through efficient data management

- Coordinate with BCP and Risk teams periodically.

- Continuous improvement thru Automations

Major Challenges:

- The process per se is challenging enough.

- Managing varied requirements at the same time (not akin to multi tasking).

- Ensuring high level of customer interaction and support and satisfaction.

- Meeting stiff TAT criteria on an everyday basis establishing and fulfilling contractual obligations is a tedious task within a no tolerance zone.

- Ensuring statutory compliance

- Maintain & control 100% process compliance

- Outsourcing and cost benefit analysis

Role Context:

- Will have to take on the spot decisions in the absence of clear cut guidelines.

- Building a bridge between somewhat opposing requirements of the business and regulatory bodies

- A highly demanding customer environment.

Management & Leadership of Regulatory, Compliance & Operational Risk (Operational Risk / FIM requirements)

- Managing a high level of integrity of the procurement process with high degree of compliance and thorough due diligence during the awarding any commitment to the suppliers/service providers.

Observation of Internal Controls (Compliance Policy / FIM requirements):

- Maintain and observe CLIENTS internal control standards, implement and observe Group Compliance Policy, including the timely implementation of recommendations made by internal/external auditors and external regulators.

- Foster a compliance culture and implement Group Compliance Policy by managing compliance risk in liaison with the Head of Group Compliance, Regional Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources are in place and training is provided, and optimizing relations with regulators.

REQUIREMENTS :

Industry : INSURANCE / BFSI / ITES / Service Industry. Relevant profiles ONLY.

POST GRADUATION mandatory.

TCPL