Kotak Life Insurance—AVP – Procurement (IT & Professional Services) - Mumbai (Intellion Square - HO)

Job description

Description: OBJECTIVE OF THE ROLE The Professional Services Procurement Manager is responsible for driving strategic sourcing, supplier selection, contract negotiations, and commercial management of professional service categories across the organization. The role partners with business functions to procure specialized services that support operational effectiveness, regulatory compliance, business transformation, and risk management while delivering optimum value, quality, and cost efficiency. Key categories include Operation services like call centre, Data entry, HR, Legal, Consultant, Third party resources, Insurance, etc., HOW Will YOU CONTRIBUTE TO THIS ROLE Weightage Strategic Sourcing - Develop and execute category strategies for professional services spend. - Lead end-to-end sourcing activities, including RFI, RFQ, RFP, evaluation, negotiations, and contract award. - Identify opportunities for cost savings, process improvements, and supplier consolidation. - Analyze spend data and market trends to recommend sourcing strategies. Supplier Management - Build and maintain relationships with key service providers. - Conduct supplier performance reviews and ensure adherence to service levels. - Monitor supplier risk, financial stability, and compliance requirements. - Drive supplier development and continuous improvement initiatives. Contract Management - Lead commercial negotiations for professional services agreements. - Collaborate with Legal, Finance, and Business stakeholders to finalize contracts. - Ensure contracts comply with company policies, regulatory requirements, and risk management guidelines. - Track contract renewals, amendments, and expiration dates. Stakeholder Management - Partner with business units to understand service requirements and project objectives. - Provide procurement guidance throughout the procurement lifecycle. - Influence stakeholders to adopt procurement best practices and preferred suppliers. Financial & Commercial Management - Conduct pricing and commercial analysis to achieve value for money. - Track procurement savings and value creation initiatives. - Support budget planning and spend forecasting activities. Governance & Compliance - Ensure procurement activities comply with company policies and procedures. - Support internal and external audits related to procurement activities. - Maintain accurate procurement documentation and reporting. TOTAL 100% MUST HAVE Education: MBA - Supply Chain Management / Engineering Professional certification such as CPSM, CIPS, CPM, or equivalent preferred. Work experience in years: 7 years + procurement or strategic sourcing experience, preferably in professional services categories. Preference from BFSI Skills / experience required: - Strategic sourcing and category management - Contract negotiation - Supplier relationship management - Spend analysis and reporting - Procurement systems (SAP Ariba / Oracle, etc.) - Commercial and financial analysis