Savings Governance Lead, FFG Procurement & Property

Standard Chartered Bank; Kuala Lumpur; On-site; MYR 120,000 - 160,000; Full time

Job summary

A leading financial institution in Kuala Lumpur seeks a Savings Governance Lead. This role requires 8+ years in procurement within financial settings, focusing on verifying and validating cost savings. Candidates should possess strong analytical abilities, problem-solving skills, and be adept at managing stakeholder communications. The role offers a competitive salary along with comprehensive benefits.

Benefits

Competitive salary

Medical and life insurance

Retirement savings funding

Flexible working options

Wellbeing support

Qualifications

• 8+ years experience in procurement and supply in a financial institution.
• Highly analytical with strong problem-solving abilities.
• Ability to summarize, categorize, and spot trends in data.

Responsibilities

• Verify and validate Fit For Growth cost saves relating to third parties.
• Work with Global Category Managers to identify savings opportunities.
• Ensure accurate reporting of sustainable savings.

Skills

Analytical skills

Problem solving

Stakeholder management

Financial acumen

Proactive initiative

Education

Degree level qualifications

Professional certifications

Job description

Savings Governance Lead, FFG Procurement & Property

Supply Chain Management (SCM) is responsible for the strategic direction and governance of all third-party spend, which accounts for over 40% of the bank’s cost base. The Procurement and Property FFG transversal stream has responsibility to deliver USD 193m of cost reduction, and to support an additional USD 550m of additional saves relating to third-party costs in TTO.

This role is for an experienced Supply Chain practitioner to verify, validate and submit Fit For Growth cost saves relating to third parties. To qualify as FFG cost savings, saves need to be a real year-on-year reduction in a cost line in the P&L, sustainable for multiple years, and need to be removed from budgets to ensure that they reach the bottom line of the bank. The role holder will be responsible for working with the Global Category Managers to identify potential savings opportunities, determining the validity for FFG submission, creating the artefacts and leading approval discussions with Finance colleagues and the impacted business or function.

The successful candidate will work closely with the FFG Procurement and Property Portfolio Head, the Global Head of Supply Chain Management, the Global Category Services and Technology heads and the Global Category Leads to ensure that savings made are recording and the FFG targets are met.

Strategy: Excellent understanding of SCM, Finance and the organizational structure of the bank. Good understanding of the Bank’s vision and strategy appropriate to the role. Thorough understanding of the Fit For Growth programme and how this ties in with the strategic goals of the Bank

Business: Along with the Global Category Leads, work with business and function stakeholders to agree FFG savings. Facilitate and influence cross business/function partnerships to meet common spend controls and goals. Awareness and understanding of the wider business and functional responsibilities and coordination challenges, economic and market environment in which the Group operates, bringing these into supplier spend and save governance.

Processes: Establish and lock-down the process for Procurement and Property FFG savings verification and approval across the bank. Ensure accurate reporting of sustainable savings. Work closely with Finance to ensure that savings are accurately reflected in the budgeting process, and build the pathway for this to be an ongoing activity.

Risk Management: Monitor, maintain, manage and escalate the risks relating to delivery of the Procurement and Property FFG transversal stream. Take personal responsibility for understanding the risk and compliance requirements of my role. Understand and comply with applicable laws and regulations, the Groups policies, procedures and the Group Code of Conduct.

Regulatory & Business Conduct: Display exemplary conduct and live by the Group’s Values and Code of Conduct. Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank.

Requirements: 8+ years experience in procurement and supply in a financial institution setup. Degree level qualifications and professional certifications preferable. Highly Analytical and Problem Solving. Adept at accurately summarizing, categorising, spotting trends in numbers. High levels of personal accountability and proactive initiative taking, together with a pragmatic, customer-focused approach.

We offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing, including core bank funding for retirement savings, medical and life insurance, time-off, flexible working options, and proactive wellbeing support.

Standard Chartered Bank is an equal opportunities employer and is committed to creating a diverse and inclusive workplace.