A Senior Associate of Technology Procurement shall be driving strategic sourcing, contract negotiations, and vendor governance for critical IT infrastructure, software, and services.
Role Overview
- Department: Group Procurement / Technology & Operations
- Key Focus: Driving cost optimization, mitigating third-party risk, and ensuring strict regulatory compliance in a highly secure financial environment.
Key Responsibilities and Requirements
- Strategic Sourcing & Category Management:
- Lead end-to-end procurement projects for major technology portfolios, including IT Infrastructure – Switches, Routers, Storage, core banking applications, cybersecurity solutions, data centers, and IT professional services.
- Develop multi-year category strategies aligned with the bank’s digital transformation and operational goals.
- Commercial Negotiation & Cost Optimization:
- Drive complex commercial negotiations with major tier-1 technology vendors to achieve Total Cost of Ownership (TCO) reductions.
- Establish pricing models, volume discounts, and favorable service level agreements (SLAs).
- Conduct Reverse Auctions to discover pricing
- Risk & Regulatory Compliance:
- Ensure all technology vendor engagements adhere to financial regulatory frameworks
- Partner with Risk, Information Security, and Legal teams to perform vendor due diligence and risk assessments.
- Vendor Lifecycle & Relationship Management (SRM):
- Manage strategic vendor performance reviews, contract renewals, dispute resolution, and vendor rationalization.
- Stakeholder & Team Leadership:
- Collaborate with internal business partners (CIOs, CTOs, Finance, and Legal) to forecast technology demand and streamline the procure-to-pay (P2P) lifecycle.
- Education: Bachelor’s degree in Engineering with MBA from reputed institute shall be an added advantage
- Experience: 8 to 10 years of progressive experience in IT procurement, strategic sourcing, or commercial management, with significant exposure to a regulated banking or financial services environment.
- Technical Knowledge: Deep understanding of software licensing metrics, cloud consumption models, hardware infrastructure, and IT service agreements.
- Skills: Advanced contract negotiation, Advance excel skills, executive-level stakeholder management, financial modeling (TCO/ROI analysis), and risk mitigation.
- Tools & Certifications: Familiarity with e-procurement platforms, COUPA etc
Location:
Mumbai
Job:
Sourcing
Schedule:
Regular
Employee Status:
Full time
