Manager – Strategic Sourcing

alrajhi bank Malaysia; Kuala Lumpur; On-site; MYR 80,000 - 120,000; Full time

Job summary

A financial institution in Kuala Lumpur seeks a Manager - Strategic Sourcing to develop and execute sourcing strategies aligned with Shariah principles. The role involves optimizing procurement processes, negotiating contracts, and managing supplier relationships. Candidates should have relevant degrees and at least 5 years of experience in procurement, preferably in financial services. Proficiency in Oracle FMS is a plus.

Qualifications

• At least 5 years of experience in strategic sourcing and procurement, preferably in financial services.
• Knowledge of banking systems and processes is a plus.

Responsibilities

• Develop and execute strategic sourcing initiatives aligned with the bank's objectives.
• Conduct analysis of spend data and market trends.
• Build relationships with key suppliers and negotiate favorable terms.
• Collaborate with internal stakeholders on procurement strategies.

Skills

Analytical and meticulous

Strong MS Office skills

Logical & critical thinking ability

Good command of English and communication skill

Team player

Ability to multi-task

Education

Degree in Accounting / Finance / Business Administration / IT / Computer Science / Supply Chain Management

Tools

Oracle FMS

Job description

Job Purpose

The Manager - Strategic Sourcing role is responsible in developing and executing strategic sourcing initiatives that align with the Bank's overall strategic objectives and Shariah principles. This role is responsible for optimizing the Bank's procurement processes, identifying cost‑saving opportunities, mitigating risks, and building strong relationships with key suppliers while adhering to Islamic finance guidelines. This role will lead sourcing projects across various categories, ensuring value for money, quality, and ethical sourcing practices.

Accountabilities

• Formulate and execute comprehensive strategic sourcing plans for assigned categories, considering market trends, supplier capabilities, and the bank's specific needs and Shariah requirements.
• Conduct in‑depth analysis of spend data, market dynamics, and supplier landscapes to identify opportunities for optimization, consolidation, and value creation within assigned categories (e.g., IT, Marketing, Facilities, Professional Services).
• Build and maintain strong, collaborative relationships with key strategic suppliers. Monitor supplier performance, address issues, and explore opportunities for continuous improvement and innovation.
• Lead complex negotiations with suppliers to secure favorable terms and conditions, ensuring contracts are legally sound and aligned with the bank's policies and Shariah principles.
• Collaborate effectively with internal stakeholders across different departments to understand their needs, provide sourcing expertise, and ensure alignment on procurement strategies.
• Drive cost savings and efficiency improvements
• Review, compare and analyze information related to items to be purchased
• Research and evaluate prospective suppliers
• Negotiate and perform Best and Final Offer (BAFO) with vendor
• Close and systematic oversight of all CAPEX & OPEX items tracked by Finance within the approved budget.
• Manage the administration of all procurement activities
• Provide advice, guidance, and support to staff regarding all aspects of procurement activities, procurement principles and requirements
• Manage ARBM General Takaful Insurance policies
• Maintain accurate records
• Monitor & manage vendor performance review
• Monitor & manage contracts
• Monitor & manage vendors
• Manage & report procurement spend & compliance
• Manage the Procurement Module (Oracle Fusion System)
• Maintain accurate records of supplier information, prices and purchases
• The duties and responsibilities outlined above may evolve over time without altering the overall nature or seniority of the role.
• The job holder may also be required to undertake other responsibilities as assigned by the Immediate Leader or Head of Division consistent with the role's scope and level of authority.
• The particular duties and responsibilities may vary from time to time without changing the general character of the duties or the level of responsibility entailed.
• In addition to the responsibilities listed above, the job holder may be required to perform other duties as assigned by his/her immediate leader or any senior manager from time to time.
• This job description is to be read in conjunction with the relevant Roles and Responsibilities.

Qualifications

• Degree in Accounting / Finance / Business Administration / Information Technology / Computer Science / Supply Chain Management any other related degrees.

Experience & Knowledge

• Must have at least 5 years working experience in strategic sourcing and procurement, preferably within the financial services industry
• Knowledge in Oracle FMS would be an added advantage
• Knowledge of banking systems and processes would be an added advantage

Skills & Competencies

• Analytical and meticulous
• Strong MS Office skills
• Logical & critical thinking ability
• Able to work in tight deadlines and stressful situation
• Good command of English and communication skill
• Team player, capable of working well across a range of roles throughout the Bank
• Ability to build credibility and trust by demonstrating high ethical standards. Extreme discretion, as work often involves confidential and sensitive information
• Ability to multi-task, prioritise and manage multiple projects, timelines, and budgets simultaneously