The Head of Procurement will lead the bank's 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 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.