Description:

Job Description: Senior Manager Cost Management

Department: Cost Management

Function: Finance

Position: Senior Manager

Band: M1

Location: Mumbai Andheri (LBP)

Reporting To: M3

About HDFC ERGO

HDFC ERGO General Insurance Company Limited, a subsidiary of HDFC Bank Limited, is one of India's leading private-sector general insurance companies.

The company offers an extensive portfolio of products across motor, health, travel, home, property, marine, and liability insurance segments.

With a nationwide network of branches and 24x7 customer support, HDFC ERGO is known for its customer-first approach, innovative offerings, and operational excellence.

Our Vision

To be the most admired insurance company that enables customers progress by being responsive to their needs.

HDFC ERGO as an Employer

We believe in Sensitivity

We drive Excellence

We uphold Ethics

We bring Dynamism

Role Overview

The Senior Manager Cost Management will be responsible for leading non-IT procurement across multiple categories, managing high-value spends, ensuring vendor governance, driving cost optimization, and delivering business value through strong procurement practices.

The role demands deep expertise in the end-to-end procurement lifecycle, stakeholder management, negotiation, compliance, and vendor performance management.

Key Responsibilities

End-to-End Procurement (Non-IT Categories)

Independently manage the complete procurement lifecycle including:

- Requirement gathering

- RFP preparation & floating

- Comparative analysis / bid evaluation

- Commercial negotiations

- Reverse & forward auctions via ProcureTiger

- Vendor selection & onboarding through ProcureBuddy

- Contracting & PO issuance (Oracle P2P)

- Vendor performance evaluation

- Procurement audit compliance

- Ensure cost competitiveness, quality standards, and timely closure of all procurement requirements.

Vendor Management & Governance

- Conduct vendor/partner due diligence and ensure compliant onboarding.

- Manage existing strategic and preferred vendor relationships.

- Build backup vendors for each category to mitigate risks.

- Track vendor performance metrics and drive continuous improvement initiatives.

Spend Management

- Manage procurement spend in the range of INR 80100 Crores annually.

- Perform spend analysis, category-wise optimization, and negotiate cost savings opportunities.

- Support budgeting, forecasting, and cost control through effective procurement strategies.

Process, Policy & System Management

- Update procurement policies, SOPs, and automation initiatives as needed.

- Utilize Oracle P2P, ProcureBuddy, and procurement modules to ensure governance and compliance.

- Prepare structured MIS reports and procurement dashboards for management reviews.

Stakeholder Collaboration

- Act as a key point of contact for internal stakeholders across finance, operations, admin, and business teams.

- Ensure swift coordination and a solution-oriented approach for timely closure of all procurement requirements.

- Build strong engagement with cross-functional teams to support business needs.

Compliance & Audit

- Ensure procurement activities comply with internal audit, external audit, and regulatory requirements.

- Maintain documentation, supplier contracts, and negotiation records for audit readiness.

Key Requirements Education & Certifications

- Graduate / Post Graduate

- Preferred: MBA, Material Management, or Supply Chain diploma

Key Requirements Experience

- Minimum 7 to 8 years of relevant experience in Procurement

- Experience must be in Non-IT procurement (mandatory)

- Should have handled procurement spends of INR 80100 Cr annually

- Must have minimum 2 years of stability with current or previous organization

- Preferably from BFSI industry (manufacturing profiles will not be considered)

Skills & Competencies

Technical Skills

Hands-on experience with:

- ProcureBuddy

- Oracle P2P

- ProcureTiger (Reverse & Forward Auctions)

- Strong proficiency in MS Excel & MS PowerPoint

- Ability to create MIS, dashboards, comparative statements, and cost sheets

- Strong understanding of PO governance

Functional & Soft Skills

- Excellent communication and negotiation skills

- Result-oriented, with strong ownership mindset

- Strong analytical thinking and problem-solving ability

- Ability to manage multiple stakeholders and close requirements within timelines

- High integrity, discipline, and adherence to procurement governance

Remarks

- The details of this position are confidential.

- Management reserves the right to modify the job specifications as needed