Procurement Specialist

Job Title: Procurement Specialist

Location: Mumbai, MH

Experience: 8-10 Years

Domain: BFSI

Roles & Responsibilities:

Lead and optimize the end-to-end procurement lifecycle across the group for driving strategic sourcing, managing complex vendor ecosystems, enforcing strict regulatory and outsourcing compliance, and negotiating cost-effective contracts. Additionally, the role focuses on procurement automation, vendor risk management, and maintaining robust audit-ready documentation across all group entities.

- Procurement Sourcing: End-to-end RFP management, vendor evaluation, rate negotiation, and standardizing group-wide pricing.

- Compliance & Governance: Ensure compliance with IT/material outsourcing policies, ISO/SOC certifications, and regulatory procurement audits.

- Related Party Transactions: Maintain related-party quotation documentation and execute arms length comparative analysis.

- Vendor Lifecycle Management: Lead vendor onboarding, comprehensive due diligence, and ongoing performance monitoring.

- Contracting & POs: Draft commercial T&Cs, SLA frameworks, contracts, and manage PO issuance.

- Budget & Spend Monitoring: Track procurement budgets, analyze spending trends, and drive cost-reduction initiatives.

- Procurement Automation: Build a central repository mapping contacts, commercials, services, delivery timelines, and payment milestones.