Duration: 12 months
Work Type: Full-time contract
Industry: Banking & Financial Services
Work Location: Barbados
Role Purpose: The Senior Specialist, Procurement will manage the development, implementation and administration of less complex supplies and services contracts with third-party providers, ensuring that procurement activities support the organisation’s business objectives. The role works closely with internal stakeholders to source supplies and services, manage supplier relationships, negotiate contracts, analyse market trends, and ensure compliance with procurement policies, procedures and third-party risk management requirements.
Key Responsibilities
- Manage, initiate and administer negotiations for local, less complex supply and services contracts in line with company policies, ensuring adherence to service-level agreements while helping safeguard the organisation from financial, legal and reputational risk.
- Conduct due diligence on new and existing procurement contracts, including reviewing terms and conditions, identifying unfavourable or non-compliant agreements, and escalating concerns where required to ensure contracts are fair, enforceable and aligned with internal policies and regulatory requirements.
- Review existing procurement processes and conduct cost-benefit analyses and feasibility studies related to supplier selection, evaluation and contract negotiation, identifying opportunities for efficiency gains, cost savings and service improvements.
- Make practical, data-informed recommendations to support effective procurement decisions, strengthen supplier performance and align sourcing activities with broader business objectives.
- Comply with applicable procurement procedures and review relevant documentation and materials to ensure commercial, financial and service delivery risks are mitigated wherever possible.
- Support compliance with current procurement and third-party risk management policies across all procurement activities.
- Maintain close working relationships with stakeholders, including shared service units, country management and other internal partners, conducting needs analyses and guiding stakeholders through the sourcing process.
- Assess supplier performance against agreed service standards, identify underperforming supplier contracts, and recommend appropriate actions such as renegotiation of terms, vendor changes or service delivery improvements.
- Conduct meetings and presentations with stakeholders, including senior management and third-party suppliers, presenting data-driven insights to support contract negotiations, transparency, accountability and strong supplier relationships.
Qualifications, Skills and Experience
- Undergraduate degree in a relevant discipline such as Procurement, Supply Chain Management, Business Administration, Management, Banking, Finance, or another closely related field.
- Minimum of 4 years’ experience in procurement, including contract negotiation, sourcing materials and services, and managing supplier relationships across local, regional and international suppliers.
- Experience working in cross-functional teams to develop practical sourcing solutions is preferred.
- Understanding of current local legislation and proposed legislative changes affecting sourcing activities.
- Detailed understanding of international regulations governing the shipment and importation of goods, including Incoterms 2020.
- Strong negotiation, analytical and contract management skills.
- Proven stakeholder engagement and communication skills, with the ability to present information clearly and build effective working relationships.