Head of Procurement

Responsibilities :

1. Develop Procurement Strategies : Formulate and execute procurement strategies tailored to the unique needs and objectives of our group of companies. Continuously assess market trends, regulatory requirements, and business priorities to optimize procurement processes and drive cost savings.

2. Supplier Relationship Management : Identify, assess, and select suppliers based on criteria such as financial stability, regulatory compliance, and service quality. Cultivate and maintain strategic relationships with key suppliers to ensure timely delivery of goods and services, mitigate risks, and drive innovation.

3. Contract Negotiation : Lead negotiations with suppliers to secure favorable terms and conditions that align with our business objectives. Negotiate pricing, payment terms, service levels, and other contractual terms while ensuring compliance with regulatory and internal requirements.

4. Budget Oversight : Collaborate with finance and other relevant departments to develop procurement budgets and forecasts. Monitor procurement expenditures, identify variances, and implement corrective actions to ensure adherence to budgetary constraints and financial targets.

5. Team Leadership : Provide strong leadership and guidance to the procurement team, fostering a culture of accountability, collaboration, and continuous improvement. Recruit, train, and develop procurement professionals to enhance their skills and capabilities in support of organizational goals.

6. Process Enhancement : Identify opportunities for process improvement within the procurement function and implement best practices to enhance efficiency, reduce costs, and mitigate risks. Leverage technology and automation solutions to streamline procurement processes and enhance operational effectiveness.

7. Compliance and Risk Management : Ensure compliance with applicable laws, regulations, and industry standards governing procurement activities within the NBFC / BFSI sector. Implement robust controls and procedures to mitigate procurement-related risks, such as fraud, corruption, and supply chain disruptions.

8. Stakeholder Engagement : Collaborate closely with internal stakeholders, including business units, risk management, legal, and compliance functions, to understand their procurement needs and priorities. Develop procurement strategies and solutions that align with business objectives while maintaining regulatory compliance and risk management standards.

Qualifications :

• Bachelor's degree in business administration, finance, or a related field. Master's degree or professional certifications preferred.
• Minimum of 15 years of progressive experience in procurement within the NBFC / BFSI sector, with 5-7 years in a leadership role.
• Demonstrated expertise in developing and implementing procurement strategies that drive cost savings, mitigate risks, and support business objectives in the financial services industry.
• Strong negotiation skills and a proven track record of successfully negotiating complex contracts with suppliers and vendors.
• Excellent leadership and team management abilities, with a focus on fostering a culture of collaboration, innovation, and excellence.
• In-depth knowledge of procurement best practices, regulatory requirements, and industry trends within the NBFC / BFSI sector.
• Exceptional analytical and problem-solving skills, with the ability to make data-driven decisions in a fast-paced and dynamic environment.
• Excellent communication and interpersonal skills, with the ability to effectively engage and influence stakeholders at all levels of the organization.

Additional Requirements :

Interested candidates can share their profile on nbfcrecruitment@rathi.com