Group Procurement

1 week ago

Manama, Manama, Bahrain RESO Full time

Job Purpose

The role holder is responsible to oversee and manage the sourcing, purchasing, and supply chain management activities within the Group along with the risks associated with third-party vendors, suppliers, and service providers. This role is responsible for developing procurement strategies, negotiating supplier contracts, managing vendor relationships, and ensuring that goods and services are acquired cost-effectively and in a timely manner along with developing and maintaining a third-party risk management (TPRM) framework, conducting risk assessments, and ensuring vendor compliance with internal policies and external regulations.

Key Responsibilities

Procurement Management

  • Develop and implement procurement strategies in alignment with organizational goals.
  • Manage the procurement lifecycle: sourcing, negotiating, contracting, purchasing, and delivery.
  • Analyse market trends to identify opportunities for cost savings and improved supplier performance.
  • Conduct due diligence for new contractors and suppliers according to the defined pre-qualification criteria and maintain the list of approved contractors and suppliers that comply with NBB's policies and procedures.
  • Evaluate and select suppliers based on price, quality, and delivery capabilities.
  • Build and maintain strong relationships with key vendors and suppliers.
  • Monitor supplier performance and resolve issues related to quality, delivery, or pricing.
  • Collaborate with internal departments to understand purchasing needs and specifications.
  • Ensure compliance with internal procurement policies and relevant regulations.

Third Party Risk Management

  • Develop, implement, and enhance the third-party risk management framework, policies, and procedures.
  • Lead risk assessments and due diligence on new and existing third parties, evaluating financial stability, cybersecurity posture, compliance status, and operational resilience.
  • Monitor and manage the lifecycle of vendor risk, from onboarding through termination.
  • Collaborate with business units, procurement, legal, compliance, IT, and information security teams to ensure effective third-party risk oversight.
  • Maintain a centralized inventory of third-party relationships and associated risk profiles.
  • Identify, assess, and track risk remediation efforts with vendors.
  • Report on third-party risk metrics, issues, and trends to senior leadership and risk committees.
  • Ensure third-party contracts include appropriate risk management and compliance terms.
  • Stay current on regulatory requirements and industry standards related to vendor risk.

Reporting & Communication

  • Prepare reports and presentations for senior management and stakeholders on the status of Procurement & Third-Party Risk management efforts.
  • Track and report on key risk indicators (KRIs) and risk mitigation efforts.
  • Provide recommendations to senior leadership to ensure the alignment of Third-Party risk management with organizational goals.

Training & Awareness:

  • Educate staff on Third-Party risk management principles, best practices, and compliance requirements.
  • Lead, mentor, and develop the procurement team.
  • Promote awareness of Third-Party risk and control processes and facilitate training sessions.
  • Foster a risk-aware culture within the organization.

Qualifications & Experience

  • Bachelor's degree in Supply Chain Management, Business Administration, Logistics, or in any other subject or equivalent is required.
  • Professional qualification is preferred i.e. Certified Third Party Risk Professional (CTPRP) or Certified CIPS Level 4 Diploma in Procurement and Supply (CIPS).
  • Experience in contract management and vendor negotiations. Familiarity with industry standards, frameworks, and regulations i.e. ISO 27001, NIST, GDPR is preferred.
  • Minimum 3-4 years of practical experience in a bank or same or similar function.
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