AVP, Contract Specialist (JRI-4904)

Sumitomo Mitsui Banking Corporation (SMBC); Singapore; On-site; SGD 60,000 - 80,000; Full time

Job summary

A leading company in the financial services sector is seeking a Contract and Vendor Management Specialist. This role involves supporting contract execution, vendor performance evaluation, and leveraging data analytics to provide insights on contract performance. Candidates should have a degree in relevant fields and a minimum of 5 years of experience in project and vendor management.

Qualifications

• Minimum 5 years’ experience in managing vendor contracts.
• In-depth knowledge of MAS Notices and Guidelines.
• Proficient in using Microsoft Office for documentation.

Responsibilities

• Assist in drafting and reviewing contracts for accuracy.
• Manage vendor performance evaluations and compliance.
• Develop and maintain dashboards for contract and vendor performance.

Skills

Project Management

Vendor Management

Negotiation

Problem-Solving

Analytical Skills

Education

Bachelor’s Degree in Finance, Banking, Law or Information Technology

Tools

Microsoft Office

Job description

The Japan Research Institute (JRI) Limited is a subsidiary of Sumitomo Mitsui Banking Corporation (SMBC) Group. SMBC Group is a Tokyo-based bank holding company that is ranked among the largest 25 banks globally by assets under management. JRI provides comprehensive, highly value-added information services through the coordinated application of its 3 functions. i.e. information systems, consulting and think-tank. As a system integrator, JRI offers services in IT strategy planning, implementation and outsourcing to a broad range of industries and activities. JRI Singapore currently supports the overall IT functions of Sumitomo Mitsui Banking Corporation (SMBC) in Asia Pacific Region.

Responsibilities

Contract Management

• Assist business teams in drafting and review of contracts and ensure consistency and accuracy of the legal and commercial terms of contracts in the Singapore office.
• Collaborate with business teams to assist with day-to day service delivery and facilitate successful contract executions.
• Maintain the central contract registry and repository and ensure that all contracts are maintained and up to date.
• Work with business team, management, and head office to ensure that contract terms to ensure compliance with industry regulation and corporate policies.
• Escalate contractual and compliance potential risk to superior in timely manner.
• Work with business units to ensure timely renewal of contracts and amendments as necessary, keeping track of key deadlines and milestones.
• Support the onboarding and offboarding process of vendor staff, including liaising with business teams and vendors to ensure requirements are met and expectations are aligned.
• Support and monitor contract governance related to contract milestones, deadlines, and obligations, ensuring compliance and performance against contract terms.

Vendor Management

• Subject matter expert on centralised outsourcing process and ensure continuous operationalistion of process.
• Provide support to contact of business and/or project teams on outsourcing vendors and project related sourcing.
• Implement and execute vendor contract management processes including onboarding and offboarding processes, monitoring, and governance of vendors.
• Support business teams and attend to queries on vendors management processes in accordance with company policies and guidelines.
• Prepare performance evaluations and vendor reviews, perform vendor screening and outsourcing management governance including due diligence checks in accordance with company policies and local regulatory requirements.
• Review, recommend and improve existing vendor and outsourcing management procedures and processes for vendor onboarding and performance.
• Maintain accurate and up-to-date records of all vendors related documentation.

Analytics and Reporting

• Leverage data by develop and maintain dashboards and report to provide insights into contract performance, vendor performance, and other key contract-related metrics.
• Utilize advanced Excel, or other analytical software to manage and analyze contract-related data.

Requirements

• Bachelor’s Degree in Finance, Banking, Law or Information Technology.
• In-depth knowledge of MAS Notices and Guidelines, including but not limited to Guidelines on Outsourcing Risk Management.
• Familiar with industry practices and to ensure that the agreement fulfils the commercial and statutory requirements.
• Min. 5 years’ of relevant working experience in managing projects and vendor management contracts.
• Experienced with IT Projects or IT service agreements, and strong understanding of IT trends and implications on business.
• Experienced in vendor management process in banking industry.
• Experienced in contract management processes and good understanding of standard contractual and commercial terms.
• Experience in Outsourcing or Third Party Risk Management (TPRM) in banking or relevant industry.
• Proficient in using Microsoft Office (MS Word, Excel & PowerPoint).
• Excellent contract writing and documentation skills.
• Excellent interpersonal skills to engage a variety of external and internal stakeholders.
• Detail-oriented with excellent organizational skills.
• Team player with a positive, will do attitude with a flexible yet disciplined approach.
• Strong negotiation and analytical skills.
• Ability to multi-task, work under pressure and tight deadlines.
• Highly flexible and adaptive to be manage varying exigencies at work.
• Able to work independently or in a team to identify solutions and/or resolve issues.
• Strong problem-solving skills, with the ability to think logically and strategically.
• Able to analyze complex data and derive actionable insights to support business decision-making.