Job Description

Prudential's purpose is to help people get the most out of life. We will deliver our purpose by creating a culture in which diversity is celebrated and inclusion assured, for our colleagues, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and in exchange, we support our people's career ambitions. We pledge to make Prudential a place where you can Connect, Grow and Succeed.

The candidate would be expected to provide oversight over the Company's procurement, vendor management process and compliance with regulatory and internal guidelines on outsourcing, including maintenance of procurement system. The incumbent is expected to have strong experience in procurement and vendor management, with good knowledge of controls and governance - key controls over the vendor selection and maintenance would be expected, including maintenance of an established procurement system. The role requires engagement and interaction across all key functions within the Company. There would also be expectation of understanding of regulatory guidelines (from Bank Negara Malaysia (BNM)) and best practices on outsourcing. There will be various interactions with parties external to the Company, including internal and external auditors, Bank Negara officials and Regional Office representatives. The incumbent is also expected to have good communication skills, strong networking ability to positively influence counterparties and possess the character to provide deliverables within stipulated timelines.

1. Vendor selection and management :

• Review and maintain internal organization policies on vendor selection and management, including the tender process for purchases above set threshold and review of relevant bids from vendors, within approved internal process/policy.
• Regularly review overall purchasing experience, introducing improvement where necessary.
• Provide assurance on compliance with BNM regulations and internal & regional policies.
• Regularly identify new vendors for current services/products, to develop cost savings and quality improvement opportunities.

2. Negotiation of commercial terms and manage cost saving initiative through vendor management :

• Where appropriate, support business lines within the organization to negotiate commercial, in the best interest of the Company.
• Perform regular review on commercial terms, to ensure that regular updates are made to bring commercial terms up to date.
• Develop initiatives for cost savings, by promoting cost savings opportunities through vendor management.
• Monitor and analyse company expense trend, developing cost savings opportunities.

3. Maintenance of procurement system :

• Business owner of the procurement system.
• Key support and maintenance for the organisation's procurement system.
• Regularly provide support and training to the wider business lines for the procurement system.
• Where required, help develop and test new improvements to the procurement system.

4. Management of company-wide outsourcing compliance :

• Understand key requirements in outsourcing by BNM and internal policies
• Regularly monitor all outsourcing activities, ensuring that performance of outsourcing vendors is annually tracked together with business owners and thereafter present this to Exco and Board.
• Review request of outsourcing with business owner, to provide assurance as to compliance to regulations and policies.
• Provide regular update and obtain approval from Exco and Board on outsourcing activities.
• Develop annual outsourcing strategies for approval by Exco and Board.

5. Management of resources and staff development :

• Provide leadership to team under care and demonstrate the character to bring the best out of resources.
• Impose good culture and working environment, by promoting teamwork and collaboration.
• Participate strongly in development of staff, in terms of technical knowledge, ethics and communication.

6. Provide support for various projects which requires involvement of procurement and outsourcing, including but not limited to development of new products/services, introduction of new systems and change of business rules. :

• Key liaison person for Procurement where procurement is related.
• Establish understanding of vendor selection and outsourcing within expected guidelines and policies.
• Ensure key controls are adhered to for vendor selection and outsourcing.

7. Provide risk management support to Chief Financial Officer. :

• Help establish and/or maintain risk management practices within the procurement and outsourcing process, in line with the various risk and compliance guidelines as released by the corresponding section in the Company.
• Ensure all audit related and compliance requirements are adhered to and appropriately addressed.

8. Other ad-hoc activities deemed necessary to support investment functions. :

• As and when required, the candidate may be required to provide support to other functions. Such requests would be initially assessed for its appropriateness by the management and would be of a nature such that no unreasonable demands are made of the candidate, and with expectations that is reasonable given the circumstances.

Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with special requirements.