With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.
Job Summary
Absa is on a fast track to become the market leader in various product categories. This role is an integral member of the commodities in the Group Procurement team supporting the Bancassurance / Insurance Category as a Procurement subject matter expert for the insurance business (life and non-life) supporting both Life and non-Life areas of the business. Along with managing commodity and supplier strategies, a large focus of this role will be eliminating any associated operational risk, enabling and supporting the business with delivering procurement solutions in accordance with the approved business strategy
Job Description
Create strategies to achieve cost-effectiveness and build a solid supplier base for the company. Collaborate with the Category manager on procurement issues and exchanging development updates. Manage the procurement initiatives for Bancassurance / Insurance and with the objective to enhance the benefits from the projects by following the agreed-upon processes and crafting solutions that will yield the best result and benefit to the business. Resolve issues related to commodities by developing better plans for negotiation and cost reduction.
Roles and Responsibilities:
- Develop and execute sourcing strategies for strategic and tactical Bancassurance / Insurance projects and where applicable non-category managed, products and services as per sourcing strategy, framework, and procurement policy.
- Perform analysis of business requirements such as market analysis, supply chains, demand patterns and commodity strategies.
- Negotiate optimum commercial agreements for short (one year) and medium term (three year) contracts.
- Draft and conclude agreements and service level agreements for strategic and tactical Bancassurance / Insurance (Product Solutions Cluster) managed goods and services.
- Consult with the Legal department to draft agreement according to the legal standards and guidelines.
- Ensure that all materials and services are sourced and procured according to specification; in accordance with the procurement policy and/or as detailed in the sourcing strategy.
- Highlight and identify potential opportunities for leveraging off existing group agreement to enable greater benefit to the business through the buying power of the group
- Implement and/or follow effective expediting procedure and monitor non-compliance.
- Manage and report all deviations in accordance with the procurement policy and/or as detailed in the sourcing strategy.
- Maintain an effective supplier database.
- Develop existing and identify new suppliers to effectively reduce the total cost of ownership associated with the procurement of products and services in Bancassurance / Insurance (PSC).
- Collaborate with the Supplier Relationship Management to monitor and track supplier performance against service level agreements including quality control where required.
- Identification and implementation of inventory and working capital reduction initiatives.
- Manage and close-off identified audits timeously as required.
- Implement and support the business where required, with guidance and remediation activities relating to the findings from audit and/or combined assurance affecting the portfolio.
- Analysis and interpretation of procurement data and transactions for budgeting process and variance reporting.
- Assist internal customers to identify opportunities and engagement for ESD suppliers.
- Perform benchmarking on price, cost, and supply chain effectiveness.
- Execute cost savings plans and track against targets.
- Support internal customers in developing business cases when required.
- Develop and maintaining internal customer service relationships.
- Participate in and/or lead regional or global multi-functional sourcing teams.
- Load and maintain contract pricing on the Procurement systems.
- Promote and help achieve Group Procurement BBBEE preferential procurement and enterprise development objectives and targets.
- Liaise with internal and external auditors through Group Risk- Procurement department
- Compile monthly, quarterly, and annual operational reports on performance
- Familiarity or experience working with supplier agreements and drafting
- Ability to engage with stakeholders to clarify requirements and understanding of complexity and expected timeframes based on the approved strategy and Book of Work
- Experience with procurement, designing cost effective commercial models to enable decision making
- CIPS certification
- Ability to prove a strong track record of leadership and team building
- Remarkable problem-solving skills with a bias for speed and positive impact
- Ability to learn quickly and prioritize appropriately to meet customer and company needs
- Exceptional analytical and organizational skills
- Excellent customer service skills, always produce exceptional work, highly self-motivated
- Effective written, verbal and presentation communication skills
- Strong technical knowledge and skills in current technologies and applications (e.g. MS Office Suite, COUPA, etc.)
- Detail-oriented, and able to respond quickly to a fast-moving and ever-changing environment.
- Holds self to highest ethical standards, and conducts all activities with the highest of integrity
Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)
Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.
Absa Bank Limited reserves the right not to make an appointment to the post as advertised
