Note : Opening for the Leading Bank. Looking for a candidates with Banking experience.

JOB DESCRIPTION

Job Title Head - Procurement

Department Finance

Grade SVP1

Location Mumbai

Reporting To CFO

POSITION PURPOSE

The Head of Procurement will lead the banks procurement strategy across both technology and non-technology categories. This role is responsible for driving cost optimization, ensuring regulatory compliance, enhancing vendor performance, and enabling digital transformation through strategic sourcing and process excellence.

Key Objectives:

- Strategic Sourcing: Develop and execute procurement strategies across IT and non-IT categories.

- Cost Efficiency: Drive savings through vendor consolidation, negotiations, and demand management.

- Compliance & Risk: Ensure adherence to regulatory and internal procurement policies.

- Vendor Management: Build strong vendor relationships with performance tracking and SLA governance.

- Digital Enablement: Promote automation and data-driven procurement processes.

- Stakeholder Collaboration: Align procurement with business, finance, legal, and compliance teams.

- Team Leadership: Lead and develop a high-performing procurement team.

A. KEY POSITION RESPONSIBILITIES

Sr. Key Responsibilities

1 Strategic Procurement & Sourcing

- Develop and implement procurement strategies for IT (hardware, software, cloud, services) and non-IT (facilities, marketing, HR, admin, etc.) categories.

- Lead category management and spend analysis to identify savings and efficiency opportunities.

2 Vendor & Contract Management

- Build and manage a robust vendor ecosystem with clear SLAs, KPIs, and performance reviews.

- Negotiate contracts to ensure favorable terms, risk mitigation, and timely renewals.

3 Compliance & Risk Governance

- Ensure procurement processes comply with internal policies, RBI guidelines, and audit requirements.

- Conduct vendor due diligence and risk assessments.

4 Digital Transformation & Process Optimization

- Drive automation in procurement processes (e-sourcing, e-auctions, spend analytics).

- Implement tools and dashboards for procurement visibility and decision-making.

5 Stakeholder Engagement

- Collaborate with business units, technology, finance, legal, and compliance teams to align procurement with organizational goals.

- Act as a strategic advisor to leadership on procurement matters.

6 Team Leadership

- Lead and mentor a team of procurement professionals.

- Build capabilities and foster a culture of innovation and accountability.

B. KEY PERFORMANCE INDICATORS

- Cost Savings Achieved: Measure of year-on-year reduction in procurement spend through strategic sourcing, vendor JOB DESCRIPTION negotiations, and demand management.

- Procurement Cycle Time: Average time taken from requisition to purchase order (PO) issuance across categories.

- Vendor SLA Compliance: Percentage of vendors meeting agreed Service Level Agreements (SLAs) and Key Performance Indicators (KPIs).

- Contract Coverage Ratio: Percentage of total procurement spend under formal contracts with defined terms, SLAs, and risk clauses.

- Strategic Sourcing Penetration: Share of spend managed through strategic sourcing initiatives (e.g., competitive bidding, e-auctions).

- Digital Procurement Adoption: Percentage of procurement processes digitized (e-sourcing, e-auctions, automated workflows).

- Vendor Risk Assessment Coverage: Percentage of vendors assessed for financial, operational, and compliance risks.

C. QUALIFICATIONS AND EXPERIENCE REQUIREMENT

Qualifications:

- Essential MBA / PGDM in Supply Chain, Operations, Finance, or related field. Certifications like CPSM, CIPS preferred.

- Preferred 1218 years in procurement, with at least 5 years in a leadership role managing both tech and non-tech categories.

- Industry Exposure: Banking, Financial Services, or large-scale enterprise procurement.

D. Organisation network and Interlinkages (To understand who are your Stakeholders)

Internal:

All Business Heads, COO, CFO, Corporate Services Head, Procurement Committee members

External:

All IT and Non-IT Vendors / service providers

E. COMPETENCY

Technical Skills

- Expertise in managing IT (hardware, software, cloud, services) and non-IT (facilities, HR, marketing) categories. Experience in managing team of Sourcing Managers and Vendor Management Team.

- Strong knowledge of contract lifecycle, SLA/KPI frameworks, and vendor governance.

- Familiarity with RBI procurement guidelines, audit protocols, and risk frameworks.

- Hands-on experience with platforms like SAP Ariba, Coupa, Oracle Procurement Cloud, etc.

- Experience in implementing e-sourcing, e-auctions, and workflow automation.

- Ability to analyse procurement data, generate dashboards, and drive insights.

Soft Skills

- Ability to lead cross-functional teams, mentor talent, and drive performance.

- Strong negotiation skills with vendors and internal stakeholders.

- Capability to align procurement goals with business strategy and transformation.

- Effective collaboration with CXOs, business heads, and support functions.

- Clear articulation of procurement strategy, performance, and risks to senior leadership.

- Analytical mindset with a proactive approach to resolving procurement challenges.

Alfiya Shaikh