Duration: 12 months
Work Type: Full time, Contract
Industry: Banking & Financial Services
Work location: Barbados
Role Purpose: The Senior Manager, Procurement will support the Associate Director in overseeing spend optimisation and the effective operation of the company’s procurement and sourcing function. The role is responsible for building and maintaining critical supplier relationships, leading complex negotiations, supporting supplier monitoring, and serving as a key point of contact for compliance matters, including regulatory, audit, governance and control requirements. The incumbent will work closely with internal stakeholders to ensure suppliers continue to meet organisational standards and regulatory expectations, and will deputise for the Associate Director as assigned or required.
Key Responsibilities:
- Lead negotiation strategies for critical and high-complexity supplier agreements, ensuring the supporting operational process is efficient, the spend profile is feasible, and the selected supplier delivers best value in meeting business needs.
- Guide, coach and develop the procurement team in vendor management, contracting and negotiation best practices, in collaboration with the Associate Director, to strengthen supplier selection and contract management frameworks.
- Identify opportunities to improve service level agreements and objectives (SLAs/SLOs), working with executives, contract owners, senior managers, Third-Party Risk Management, and parent company counterparts to define expectations and enhance supplier performance.
- Manage sourcing projects from planning through delivery, including the development and implementation of commodity metrics in supplier contracts aligned with business trends, contractual KPIs, regulatory requirements, compliance standards and third-party risk management expectations.
- Develop and implement performance and quality management programmes for key vendors, in collaboration with business owners and leaders, to ensure clear accountability, adherence to contractual requirements and strong supplier relationships.
- Create and lead cross-functional teams to resolve significant sourcing issues, align stakeholders on appropriate solutions, and minimise potential exposure to the organisation.
- Educate and support stakeholders and team members on evolving procurement processes, policies and standards to improve contract quality, policy adherence and compliance.
- Collaborate with enterprise leaders to identify value-creation opportunities, supplier optimisation initiatives and communication strategies that create synergies, improve vendor service delivery and manage company risk.
Qualifications, Skills and Experience
- Bachelor’s degree in Procurement, Supply Chain Management, Business Administration, Management, Finance, Banking, Operations Management or a related field; a master’s degree would be an asset.
- Project Management or Agile certification, and/or working knowledge of Agile processes and methodologies.
- 5–8 years’ experience in procurement, sourcing or supply chain management, including at least 3–5 years in a leadership or senior management role.
- Strong understanding of legal principles relating to contract language, contracting requirements and supplier agreements.
- Demonstrated success leading supplier negotiations, developing win-win strategic relationships, and influencing stakeholders with competing priorities.
- Knowledge of ASP, SaaS, Cloud and IT services-based contracts would be an asset.
- Experience drafting contract schedules, such as scopes of work, service level agreements and related documentation, would be preferred but is not required.
- Proven ability to manage enterprise supplier relationships across local, regional and international suppliers.
- Experience with local regulatory requirements and frameworks relating to outsourcing arrangements for financial institutions in the Caribbean.
- Experience working in complex, technical environments and collaborating with multiple vendors, partners and teams across the business.
- Track record of successfully managing change through cross-functional teams with defined objectives and timelines.
- Strong strategic thinking, analytical and problem-solving abilities.
Core Competencies
- Client Orientation
- Change Adaption
- Solution Orientation
- Cultivates Connections
- Effective Communication
- Nurtures Growth
Please note that based on the volume of applications, only shortlisted candidates will be contacted. Thank you!