Manager, Procurement

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. Reporting to the Head of Procurement, this position shall be responsible to: • Ensure that products and services are procured in a seamless manner, reduce the total cost of ownership, realize savings targets and customer satisfaction while ensuring that all procurement and sourcing activities / projects are in compliance to the applicable regulatory requirements and guidelines, and internal policies and procedures of the Company and Prudential Group. • Manage different procurement categories such as information, technology, advertising & marketing, corporate services, human resources, travel & entertainment, professional services, etc., including sourcing, performing due diligence, monitoring performance and ensuring compliance of the internal policies, guidelines, procedures and applicable regulatory requirements of the Company and Prudential Group. • Assist the improvement of procurement strategies, methodologies, operating models, systems and procedures to ensure controls effectiveness, efficiency of processes, productivity enhancements while maintaining the highest degree of integrity. PRINCIPAL DUTIES & RESPONSIBILITIES: End-to-end Procurement Implement procurement strategies, methodologies, operating models and best practices to leverage procurement as well as addressing challenges for their strategic advantage. Implement sustainable and responsible procurement policies to ensure the new and existing vendors meet the responsible supplier guidelines and framework in order to be in line with the Environment, Social and Governance (ESG) requirements. Ensure that the established standards and targets are met for all activities relating to procurement, sourcing, tender / auction, and vendors management. Support the business requesters’ requirements gathering, researching the market to meet requirements, identifying potential vendors, vendors evaluation, negotiation of contracts and vendors selection for all sourcing activities. Support the business requesters to identify potential new vendors and to facilitate the interview in order to secure more cost-effective sources of products and services. Examine the pre-qualification of vendors / service providers to ensure that only capable vendors / service providers (from the aspects of financial, technicality, competency, capacity, commitment and track records) are selected to participate in the project or tenders / auction. Provide negotiation advice and contract reviews for vendors, including pricing benchmarks, discounting methodologies and best commercial terms and conditions. Prepare the tender strategy, bid proposal / award papers to document the award decision for Management / Procurement Committee’s approval. Ensure that all procurement activities especially relating to award of contracts and appointment of vendors comply with the internal policies and procedures. Work closely with all relevant parties to resolve underlying procurement related issues. Implement effective category management, preferred vendors list, procurement savings methodology, vendor selection and evaluation criteria. Support the enhancement / improvement of Procurement system and processes, procurement related initiatives and influence vendors to optimize the usage of Procurement system. Governance & Reporting Work closely with the Third Party Risk Management Team to ensure that vendors due diligence procedures are properly performed by the business requesters and are in accordance to the internal policies and procedures, and