Director - IT Procurement - Financial Services

Job Summary:

The Director of IT Procurement is responsible for leading and managing the IT procurement function within the bank. This role involves developing and implementing procurement strategies, managing vendor relationships, negotiating contracts, and ensuring that IT procurement activities align with the bank's overall objectives and compliance requirements. The Director of IT Procurement will work closely with the IT department and other stakeholders to ensure the timely and cost-effective acquisition of IT goods and services.

Key Responsibilities:

Strategy Development and Execution:

- Develop and implement IT procurement strategies that align with the bank's goals and objectives.

- Identify opportunities for cost savings and process improvements in the procurement of IT goods and services.

Vendor Management:

- Establish and maintain strong relationships with key IT vendors and suppliers.

- Evaluate vendor performance and ensure compliance with contractual terms and conditions.

- Conduct regular reviews and assessments of vendor capabilities and performance.

Contract Negotiation and Management:

- Lead negotiations for IT procurement contracts, ensuring favorable terms and conditions.

- Manage the contract lifecycle, including renewals, amendments, and terminations.

- Ensure contracts comply with legal, regulatory, and internal policies.

Procurement Operations:

- Oversee the day-to-day operations of the IT procurement function.

- Ensure timely and efficient procurement of IT hardware, software, and services.

- Manage the procurement process from requisition to payment, ensuring compliance with policies and procedures.

Risk Management and Compliance:

- Identify and mitigate risks associated with IT procurement activities.

- Ensure compliance with all relevant laws, regulations, and internal policies.

- Maintain accurate and complete procurement records and documentation.

Collaboration and Stakeholder Management:

- Collaborate with IT and other departments to understand their procurement needs and priorities.

- Provide guidance and support to internal stakeholders on procurement-related matters.

- Communicate effectively with senior management and other key stakeholders.

- Budgeting and Financial Management:

- Develop and manage the IT procurement budget.

- Monitor and report on procurement expenditures and savings.

- Ensure cost-effective procurement practices are implemented and maintained.

Qualifications:

- Education: Bachelor's degree in Business Administration, Information Technology, Supply Chain Management, or a related field. MBA or advanced degree preferred.

- Experience: Minimum of 15 years of experience in IT procurement, with at least 5 years in a leadership role, preferably within the banking or financial services industry.

- Certifications: Professional certifications such as Certified Purchasing Manager (CPM), Certified Professional in Supply Management (CPSM), or similar are a plus.

Skills and Competencies:

- Strategic Thinking: Ability to develop and execute procurement strategies that support organizational goals.

- Negotiation Skills: Strong negotiation skills to secure favorable terms and conditions.

- Vendor Management: Proven experience in managing vendor relationships and performance.

- Analytical Skills: Strong analytical skills to assess procurement data and identify trends and opportunities.

- Leadership: Strong leadership and team management skills.

- Communication: Excellent verbal and written communication skills.

- Technical Knowledge: Understanding of IT products, services, and market trends.

- Problem-Solving: Ability to identify and resolve procurement-related issues effectively.

- Compliance: Knowledge of relevant laws, regulations, and best practices in procurement.