Prudential's purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people's career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.
The Procurement Manager will be support the Non-IT Procurement Associate Director to provide procurement expertise and support of end-to-end procurement support to business stakeholders across Prudential's Head Office, Service Entities and business units across Asia and Africa, based at its offices in Hong Kong, with a particular focus on Non-IT categories of expenditure (professional services, marketing and advertising, legal, corporate services and facilities management spend).
The Procurement Manager will support strategic sourcing, category management, vendor management, negotiations and contract management activities whilst continuing to identify opportunities to maximize value and mitigate risk from the Group's c. USD 450m/annum Non-IT expenditure (out of the Group's total procurement expenditure of c, USD 800M) whilst also driving best practices with regards to vendor monitoring and governance third-party arrangements, particularly with the Group's strategic partners.
The Procurement Manager requires an ability to engage and influence business stakeholders and externally, with key vendors that support our business requirements and Prudential's strategic objectives.
Key Accountabilities
- To develop, maintain and influence relationships with business stakeholders and vendors across the Head Office and business units as appropriate, as part of establishing the Group Procurement function as a trusted business partner
- Identify opportunities for spend optimization and risk mitigation through detailed spend analysis and non-IT category spend expertise (particularly pertaining to professional services, corporate services, marketing and advertising, HR services, contingent workers and facilities management to name a few)
- Support the execution of category management, vendor management and procurement activities, including strategic sourcing, RFP/RFI's and commercial/contractual negotiation
- Conduct contract management activities:
- Identify and advise internal stakeholders of contractual risks and recommend strategies to mitigate risks
- General maintenance of existing contracts including the management of addendums, contract reviews, renewals and terminations
- Provide guidance and support with respect to third party risk management and third party due diligence activities
- Partner with business stakeholders in third party/vendor performance management activities
- To continually utilize best procurement practices and identify continuous improvement opportunities in the capability of the Group Procurement function
- To seek consolidation of the vendor base through identification of vendor rationalization opportunities and establishment of preferred vendors and strategic partnerships where applicable across the business
- Support compliance to the Procurement Policy.
Candidate Specifications:
- Strong stakeholder management skills and experience (both internal and external stakeholders) in particular with senior management/ (C-Suite level)
- Strong networking, communication and influencing skills, able to work with colleagues from different management levels, cultures and background to influence changed behaviors across cultural and geographic boundaries
- A strong and genuine passion for procurement and vendor management, excited about seeking new opportunities to demonstrate the value of effective procurement in business and actively pursuing to continuously improve, learn and adopt market leading procurement practices and principles in the industry
- Experienced and comfortable to work in a dynamic, and sometimes, unstructured working environments, with an ability to adapt to changing circumstances,
- Deadlines, multiple concurrent agendas and adaptable to changing priorities often under pressure
- Deep analytical mindset and problem-solving skills with a high attention to detail, whilst being able to operate at the strategic level and understand the "bigger picture"
- Demonstrated ability to work independently and in a team, able to motivate and drive themselves and team members in identifying new opportunities and demonstrating value to the broader business
- Strong understanding and experience of best practices of non-IT procurement categories, particularly category management, supplier management, strategic sourcing, commercial negotiations, contract development and management activities and processes
- Detailed and dynamic cross category experience including but not limited to consulting and advisory services, contingent workers, auditors, legal services, corporate services, marketing and advertising, HR services and facilities management spend. Experience across IT categories sich as software, SaaS and
- PaaS platforms, digital, networks and telephony, hardware, IT infrastructure/architecture is not essential but useful
- Proven experience working across procurement functions within multinationals across various industries
- Proven experience in supporting cross functional projects and strong understanding of project management principles, time management and organization
- Strong understanding and skills of Procure-to-Pay processes and methodologies as well as experience with Procure-to-Pay tools
- High level of proficiency in Microsoft Office 365 suite, particularly with Excel, PowerPoint, Word and SharePoint
- Strong and effective communication skills (written, verbal and visual)
Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.