Principal Specialist (Technology Sourcing Lead)

Summary of Responsibilities

The Designated Sourcing Lead is responsible for overseeing and supervising the operation of sourcing processing within the Technology Division. This role involves managing annual budgeting in collaboration with IT managers, renewing contracts and services in time without disruption, ensuring prompt tracking and monitoring of cost & expenses, analyzing spending trends, and fostering strong relationships with Finance, procurement, and vendors.

Key Areas of Responsibilities

1.      50% to work on strategic items

·        Oversight of sourcing management of Technology Division operations.

·        Enhance budgetary management:

                                i.           budget preparation, review and refinement

                              ii.           budget monitoring and control including investigation of material variances arising between budget and actuals

                             iii.           aligning budget with financial records through advising on creation / deletion of accounting codes in Chart of Accounts to facilitate consistency

                             iv.           liaison with Finance on matters relating to budget

·        Aligning budget and financial records through application by Technology Division of accounting principles consistent with those applied by Finance for instance apportionment of expenditure.

·        Monitoring and controlling use of virement mechanisms including keeping appropriate records.

·        Lead and facilitate in all initiatives related to enhancing financial and budgetary management.

·        Advising and facilitating improved Financial Reporting in relation to Technology operations and collaborating with Finance to achieve required improvements.

·        Change agent in facilitating and supporting the adoption stronger financial management and greater financial discipline across Technology Division.

2.      50% to work on daily sourcing operation

·        Oversight of day-to-day PO issuance including assisting in resolution of any issues arising for instance in cases of budget insufficiency. 

·        Keeping and maintaining records of virements with the appropriate periodic analysis.

·        Keeping and maintaining an on-going record of maintenance and service contracts and providing early alerts on impending renewals.

·        Negotiate and liaise with vendors / suppliers for better terms and monitoring their compliance to agreed service levels and delivery times.

·        Liaising with users periodically on vendors’ / suppliers’ performance and compliance to agreed service levels and recommending blacklisting by Procurement as appropriately.

·        Managing a team of 2 to 3 members.

·        Communicating and training in relation to initiatives and new requirements on enhancing financial management and discipline.

·        Enhancing and developing new guidance documentation / manuals as needed.

Qualifications

Minimum Qualifications

·        Degree in Information Technology Business, Business Administration, Finance or Accounting.

·        5 to 10 years working experience in an IT-driven / intensive business, preferably in a sizeable financial institution.

·        Experience in IT infrastructure, IT security, IT operations, IT projects and related procurement and financial reporting.

·        Deep appreciation of financial management and discipline in IT operations and project management.

·        Have the drive to implement accurate dashboard monitoring and comprehensive reporting.

Technical Qualifications

·        Proficient in Microsoft Excel, procurement tool and SAP.

·        Practical hand on in Procurement processes & practices; Cost analysis and control; dealing with audits and comply to company policy and guideline.

·        With commercial sensitivity and insight, strong communication and negotiation ability, can promote mutual agreement and mutual benefit.

·        Strong project management ability and method, excellent organization and coordination ability, and excellent project / initiative delivery.

Additional Requirements:

·        Effective communication skills.

·        Fluent in English, another language will be an asset.

·        Extremely diligent, fine eye for details, supreme problem-solving capabilities and a team player.