Assistant Vice President, Procurement, Vendor and Contract Management

Kenanga Group; Kuala Lumpur; On-site; MYR 70,000 - 90,000; Full time

Job summary

A leading financial institution in Kuala Lumpur is seeking a vendor management professional responsible for overseeing vendor relationships and ensuring compliance with internal policies and regulatory requirements. You will conduct vendor due diligence, monitor performance, negotiate contracts, and review outsourcing arrangements. The ideal candidate holds a degree or diploma and has a minimum of 5 years of relevant experience with strong analytical and communication skills. This role requires attention to detail and governance awareness.

Qualifications

• Minimum 5 years of relevant experience.
• Strong knowledge of vendor management and outsourcing arrangements.
• Excellent analytical, problem-solving, and organization skills.
• Effective written and verbal communication skills.
• Ability to work independently in a fast-paced team environment.
• Detail-oriented with strong governance and compliance awareness.

Responsibilities

• Oversee vendor relationships and outsourcing arrangements.
• Conduct due diligence assessments on vendors.
• Monitor vendor performance and service delivery.
• Negotiate contracts, pricing, and service terms.
• Perform gap analysis on outsourcing arrangements.

Skills

Vendor management

Analytical skills

Problem-solving skills

Organizational skills

Effective communication

Education

Degree or Diploma

Job description

Responsible for overseeing and managing the Bank’s vendor relationships and outsourcing arrangements to ensure compliance with internal policies and regulatory requirements (including BNM guidelines). The role involves vendor due diligence, performance monitoring, contract oversight, cost optimization, and coordination with internal stakeholders such as Group Risk Management and Group Compliance.

Vendor Management and Contract Management

• Responsible for overseeing the Bank’s outsourcing arrangement. This includes review the outsourcing checklist submitted, liaison with Group Risk Management and Group Compliance on the materiality of the proposed outsourcing management.
• Annual review and update the outsourcing register and perform the gap analysis when necessary.
• Meeting with suitable vendors to access their products, inquiries about their services, negotiate pricing, and communicate any product or service-related concern.
• Conduct due diligence assessments on potential and existing vendors.
• Ensure vendor selection are in accordance with the Bank’s policy and governance requirements
• Conducting interviews with new vendors and informing approved vendor on their responsivity and obligation.
• Monitor vendor performance, service delivery, quality, safety standards, and cost efficiency.
• Evaluating current vendor management program and identifying ways to improve it.
• Review, evaluate, and update vendor contracts and service agreements
• Address and communicate vendor-related issues, service concerns, or non-compliance matters
• Negotiate contracts, pricing, and service terms with vendors.
• Continue identify and monitoring the overall cost saving initiative.

Outsourcing Management

• Conduct annual reviews of the Outsourcing Plan and Outsourcing Register
• Perform gap analysis on existing outsourcing arrangements and implement corrective actions
• To ensure all outsourcing arrangement approving process are follow Kenanga Investment Bank and BNM guideline.
• Review and update the service agreement of all outsourcing arrangement.
• To review and check all the outsourcing arrangement submitted.
• To liaise with Group Risk Management and Group Compliance on the outsourcing arrangement.
• To perform annual review and gap analysis of all existing outsourcing arrangement.
• To ensure accurate and up to date records of all outsourcing plan and register as per BNM Policy and Guideline

Job Requirements

• Degree holder, or Diploma holder with minimum 5 years of relevant experience.
• Strong knowledge of vendor management and outsourcing arrangements, preferably within a banking or financial services environment.
• Possess an excellent analytical, problem solving and organization skills
• Possess knowledge of vendor management and outsourcingn
• Effective written and verbal communication skills
• Ability to work independently and multi-task in a fast-paced team environment
• Detail-oriented with strong governance and compliance awareness.