Senior Procurement Specialist

Empowering Africa’s tomorrow, together one story at a time.
- 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

The Procurement Specialist will work closely with business unit’s stakeholders to ensure effective and efficient procurement processes of sourcing initiatives in alignment with Absa's strategic goals, Absa’s Technology Roadmap, compliance standards, and sustainability initiatives.
The specialist is responsible for executing strategic and tactical sourcing initiatives within the technology procurement function, optimizing supplier selection, contract negotiations, cost efficiencies, and risk mitigation.

Job Description

Key Responsibilities:
Procurement Strategy Execution:

- Understand the relevant broader business objectives and metrics (Cost to Income ratio, profitability, B-BBEE, digitilisation) and translate all work into achieving those objectives.
- Support, develop and implement procurement strategies for technology aligned to business objectives, the technology roadmap and procurement best practices.
- Find and report on insights in the relationship between outcomes, spend, risk and reward.

Supplier Identification & Evaluation:
- Research, identify, and assess potential suppliers and service providers to drive competitive advantage and innovation.- Promote sustainable procurement practices and support Absa's targets for preferential procurement and supplier diversity.

Contract & Price Negotiations:

- Drive the negotiation, drafting and management of supplier agreements, ensuring the best value in terms of cost, quality, service, legal, regulatory and risk management requirements.

Cost Management & Value creation:
- Monitor technology procurement trends, supplier innovations, and market shifts to inform strategic decision-making and category planning.- Identify opportunities for cost savings, efficiency improvements and value creation by leveraging supplier expertise in the business.

Stakeholder Collaboration:
- Collaborate with various business units to understand their technology procurement needs and provide support in sourcing and acquiring the necessary goods and services.- Work closely with internal technology, finance, and legal teams to ensure procurement requirements are effectively met.

Risk & Compliance Management:

- Ensure sourcing activities adhere to compliance, governance, and regulatory requirements, mitigating procurement risks. Ensure that all procurement activities comply with Absa's governance, risk, and compliance standards.

Technology & Data Analytics:

- Utilize Absa's digital procurement tools and data analytics to enhance supplier evaluation, sourcing decisions, and performance tracking.

Procurement Process Optimization:

- Contribute to improving sourcing methodologies, procurement policies, and compliance frameworks.

Education & Experience:

- Bachelor's degree in Procurement, Supply Chain, Business Administration, IT, or a related field.
- Professional certifications such as CIPS, CPSM, or equivalent preferred- Minimum of 8 years of experience in value chain procurement or strategic sourcing, must be in technology procurement.- Experience in contract negotiations, supplier management, and procurement analytics.
- Exposure to global procurement processes and industry-leading sourcing strategies.
- Experience in managing procurement activities within a large organization.
- Proven track record of delivering cost savings and efficiency improvements in procurement.

Knowledge and skills:
- Strong understanding of procurement and sourcing best practices within technology categories.- Ability to manage supplier relationships and execute strategic sourcing initiatives.- Applied knowledge of contract negotiation, legal frameworks, and risk mitigation strategies.
- Strong analytical, problem-solving, and data-driven decision-making abilities demonstrating ability to in complex and ambiguous situations.
- Proficiency in procurement systems, ERP tools, and digital sourcing platforms.
- Excellent communication, negotiation, and stakeholder management skills.
- Ability to work in a fast-paced, technology-driven procurement environment.
- Knowledge of compliance and risk management in procurement and a demonstrated understanding of complex risk management activities.
- Commitment to sustainability and diversity in procurement practices.
- Familiarity with Absa's technology standards and procurement tools

Competencies:
- Differentiate between quick deal execution and complex and dynamic deals that require thought and demonstrate the capability to work with both at any given time prioritizing according to business needs.- Manage work in progress and backlog activity, prioritizing according to business needs and contract valid