Senior Procurement Officer at Jubilee Insurance

Role Purpose

• The role holder is responsible for overseeing and managing the procurement process within the life insurance company, ensuring the acquisition of goods and services is conducted efficiently, cost-effectively, and in compliance with internal policies and regulatory requirements. This role plays a critical part in supporting the company's operations and optimizing procurement activities, under the guidance of the Senior Manager – Procurement.

Main Responsibilities

• Procurement Strategy: Participate in the preparation of the annual procurement plan. Ensure the procurement strategy is aligned with the company's objectives, including defining sourcing approaches, supplier selection criteria, and cost-saving initiatives.
• Supplier Management: Identify, evaluate, and select suppliers based on quality, pricing, delivery, and other relevant criteria. Maintain strong relationships with key suppliers, monitor their performance, and address any issues or concerns.
• Contract Negotiation: Negotiate and finalize contracts with suppliers, ensuring favorable terms and conditions that mitigate risks, protect the company's interests, and comply with regulatory requirements.
• Purchase Requisition Processing: Review and approve purchase requisitions, ensuring accuracy, adherence to budgetary guidelines, and compliance with procurement policies and procedures.
• Purchase Order Management: Generate and manage purchase orders, track deliveries, resolve discrepancies, and ensure timely receipt of goods and services.
• Cost Control: Monitor and control procurement costs, identify opportunities for cost savings, and implement strategies to optimize procurement spend.
• Compliance and Risk Management: Ensure compliance with internal policies, legal requirements, and ethical standards in all procurement activities. Conduct risk assessments and implement appropriate measures to mitigate procurement-related risks.
• Supplier Performance Evaluation: Establish key performance indicators (KPIs) and conduct regular supplier performance evaluations to drive continuous improvement and maintain a high level of supplier performance.
• Process Improvement: Continuously review and enhance procurement processes, systems, and procedures to increase efficiency, streamline workflows, and improve overall procurement operations.
• Reporting and Analysis: Prepare and present reports on procurement activities, including spend analysis, cost savings, supplier performance, and compliance metrics.
• Preparation and/or endorsement of the tender strategy proposal, bids opening, bids evaluation, asset disposal, and order award proposals, including communication of results from bids and undertaking negotiations where required.
• Organize travel logistics as per the company travel policy.
• Manage the coordination of the disposal of obsolete goods.

Key Competencies

• Strategic Thinking: Ability to develop and execute procurement strategies aligned with business goals.
• Negotiation Skills: Proficiency in negotiating contracts, terms, and pricing with suppliers.
• Supplier Relationship Management: Strong relationship-building and communication skills to foster productive partnerships with suppliers.
• Analytical Thinking: Capacity to analyze data, identify trends, and make data-driven decisions to optimize procurement activities.
• Attention to Detail: Thoroughness in reviewing contracts, purchase orders, and other procurement-related documents to ensure accuracy and compliance.
• Problem Solving: Ability to identify and address procurement-related challenges and find effective solutions.
• Financial Acumen: Understanding of financial principles and cost analysis to control procurement spend and identify cost-saving opportunities.
• Stakeholder Management: Excellent interpersonal skills to collaborate with internal stakeholders across various departments and levels.

 Qualifications

• Bachelor’s degree in Supply Chain Management, Finance, Business Administration or any other related field.
• IT proficiency (especially excellent command in MS Word, Excel, PowerPoint and Outlook)
• Professional certifications in Procurement (e.g., CIPS, CPSM) would be an added advantage.

 Relevant Experience

• At least 4-6 years’ experience in a similar role.