Procurement Specialist

Gulf International Bank; Eastern Province; On-site; SAR 150,000 - 200,000; Full time

Job summary

A leading bank in Saudi Arabia is seeking a Procurement Analyst to optimize procurement processes and foster supplier relationships. The role involves developing strategies, negotiating contracts, and ensuring compliance with procurement policies. Ideal candidates will have a Bachelor's degree and 1-2 years of relevant experience.

Qualifications

• 1 to 2 years of experience in procurement and supplier management.
• Proven skills in contract interpretation and negotiation.
• Understanding of legal, regulatory, and commercial supply data.

Responsibilities

• Develop and implement procurement strategies to meet bank objectives.
• Source and evaluate suppliers, negotiate contracts, and manage relationships.
• Monitor market trends and identify opportunities for cost savings.

Skills

Business Acumen/Commercial Awareness

Effective Communication

Teamwork

Collaboration

Education

Bachelor's degree in Supply Chain, Finance, Marketing, or Business

CIPS certification (preferred)

Job description

Procurement Analyst Job Description

The Procurement Analyst plays a crucial role in optimizing the bank's procurement processes, fostering strong supplier relationships, and ensuring cost-effective and compliant procurement practices. This position requires a detail-oriented individual with strong negotiation skills, market knowledge, and the ability to collaborate effectively with stakeholders across the organization.

Responsibilities:

1. Develop and implement procurement strategies to meet the bank's objectives and requirements.
2. Source and evaluate suppliers, negotiate contracts, and manage relationships to ensure cost-effective and timely procurement of goods and services.
3. Monitor and analyze market trends, dynamics, and pricing using analysis tools such as SWOT and Kraliij matrix to identify opportunities for cost savings and process improvements.
4. Collaborate with internal stakeholders to understand their procurement needs and provide guidance on best practices and compliance requirements.
5. Ensure compliance with procurement policies, procedures, and regulatory requirements throughout the procurement process.
6. Manage procurement documentation, including contracts, purchase orders, and supplier agreements, to maintain accurate records and facilitate audits.
7. Identify and mitigate procurement risks, such as supply chain disruptions, price fluctuations, and vendor non-compliance, to ensure business continuity.
8. Utilize systems and maximize automation opportunities to achieve greater efficiencies and process optimization.

Skills and Qualifications:

• Bachelor's degree (preferred) in Supply Chain, Finance, Marketing, or Business. Recognized post-qualification courses related to Strategic Procurement (e.g., CIPS) are also preferred.
• Professional certifications such as CIPS or equivalent are preferred but not required.
• 1 to 2 years of experience in procurement and supplier management, with proven skills in contract interpretation, negotiation, and understanding of legal, regulatory, and commercial supply data.
• Skills include Business Acumen/Commercial Awareness, Effective Communication, Teamwork, and Collaboration.

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