Let's Write Africa's Story Together!

Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

JOB DESCRIPTION SUMMARYAs a Strategic Sourcing and TPRM Lead, you will ensure that the bank's sourcing activities are aligned with its overall business goals and objectives. This entails conducting these activities in a manner that optimizes efficiency, reduces costs, and meets the needs of all stakeholders.

KEY RESULT AREAS

This role will lead the banks strategic sourcing initiatives while focused on third-party risk management (TPRM) as an integral part of the sourcing lifecycle. The role will report into the Head of Partner Management.The role must ensure that Third-Party Risk Management (TPRM) is prioritised as a critical outcome throughout the bank's sourcing and selection activities by ensuring that sourcing is aligned with the Bank’s Third-Party Risk and Outsourcing Standard.The role will be responsible for managing the entire TPRM process, including developing assessment methodologies, vendor due diligence, risk mitigation plans, and reporting to stakeholders.Perform in-depth evaluations of third-party risks by conducting assessments, analysing data, and identifying potential vulnerabilities across various risk categories (e.g., financial, operational, compliance, security).Plays a crucial role in integrating TPRM into the vendor selection process by conducting initial screening and ensuring that only low-risk vendors are considered for contracts. The role must ensure that when the bank undertakes sourcing activities its overall business goals and objectives, are conducted in a way that optimises efficiency, reduces costs, limits risk and meets the needs of all stakeholders.You will be expected to develop and implement third party risk processes, procurement strategies and the systems that support them and in particular Due Diligence and Third-Party Risk Management solutions. Ensuring that they align with the banks overall strategic goals.The candidate is expected to have an intimate knowledge of Third-Party Risk Management and the application thereof as well as the regulatory requirements of the South African Reserve Bank. The candidate will be expected to support the implementation of processes and systems to automate the management of Third-Party RiskDevelop a thorough understanding the bank's needs and requirements, identifying potential partners, negotiating contracts, and ensuring that procurement processes are efficient and cost-effective.The role will be responsible for ensuring that all sourcing activities are compliant with relevant laws and regulations. This will involve staying current with changes in regulations and ensuring that the bank's procurement processes are aligned to leading industry best practices.Identify areas where sourcing processes may be optimised based on a continuous improvement approach implementing changes to optimise efficiency and reduce costs. This may involve streamlining processes, leveraging technology, or introducing new tools and systems.Understand the implications of third-party risks in the context of the bank and how to deal with them as they arise.Collaborate with stakeholders across the bank to ensure that sourcing processes meet their needs and requirements. This will involve collaborating with programme heads to understand their procurement needs, providing guidance and support to sourcing staff, or coordinating with finance teams to ensure that sourcing activities are properly accounted for the role will be responsible for managing a team of sourcing professionals, providing leadership, guidance, and support to ensure that sourcing activities are conducted efficiently and effectively.Manage onboarding new strategic partners, and prioritise partnerships based on potential impact and feasibility through thorough due diligence and third-party risk processes.Stay current with industry trends and competitive landscape and provide recommendations for new partnership opportunities.Hone the bank’s policies and standards and ensure alignment to the bank’s risk posture.

ROLE REQUIREMENTS

Minimum of 5 - 10 years of experience in TPRM, in a Sourcing environment.Extensive knowledge and experience in third-party risk management, banking experience will be advantageous.An advanced understanding of Cloud Computing technologies, architectures, and standards as well as a thorough understanding of SaaS business models.Knowledge of regulatory and compliance requirementsPrevious experience implementing third-party risk management solutions.Excellent analytical and problem-solving skills.Strong organisational and project management skills, with the ability to manage multiple projects and priorities.Excellent communication and interpersonal skills, with the ability to build and maintain relationships with suppliers and internal stakeholders.Proficient in Microsoft Office and other procurement-related software.B Degree or equivalent in a related field. (Finance, Technology, Procurement)Additional beneficial skills:Negotiation skills and experience with contract management.Knowledge of procurement processes.

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit.

As a Strategic Sourcing Lead, you will ensure that the bank's sourcing activities are aligned with its overall business goals and objectives. This entails conducting these activities in a manner that optimizes efficiency, reduces costs, and meets the needs of all stakeholders.

KEY RESULT AREAS

Develop and implement procurement strategies that align with the banks overall strategic goals. Develop a thorough understanding the bank's needs and requirements, identifying potential partners, negotiating contracts, and ensuring that procurement processes are efficient and cost-effective.Managing the bank's relationships with its partners ensuring that the banks partnerships philosophy is embedded across the partnerships landscape. Manage partner governance, including contractual obligations, contract negotiations, performance and service level management. Ensure that all sourcing activities are compliant with relevant laws and regulations. This will involve staying current with changes in regulations and ensuring that the bank's procurement processes are leading industry best practices.Identify areas where sourcing processes are optimised based on a continuous improvement approach implementing changes to optimise efficiency and reduce costs. This may involve streamlining processes, leveraging technology, or introducing new tools and systems.Collaborate with stakeholders across the bank to ensure that sourcing processes meet their needs and requirements. This will involve collaborating with programme heads to understand their procurement needs, providing guidance and support to sourcing staff, or coordinating with finance teams to ensure that sourcing activities are properly accounted for.Managing a team of sourcing professionals, providing leadership, guidance, and support to ensure that sourcing activities are conducted efficiently and effectively.Overall, the Strategic Sourcing Lead in a digital-first bank will play a critical role in ensuring that the bank's procurement activities are aligned with its overall business goals and objectives, and that they are conducted in a way that optimizes efficiency, reduces costs, and meets the needs of all stakeholders.Manage on-boarding new strategic partners, and prioritize partnerships based on potential impact and feasibility through thorough due diligence and third-party risk processes.Stay current with industry trends and competitive landscape and provide recommendations for new partnership opportunities.Hone the bank’s policies and standards and ensure alignment to the banks risk posture.

ROLE REQUIREMENTS

Minimum of 5 - 10 years of experience in procurement, with a focus on digital products and services.An advanced understanding of Cloud Computing technologies, architectures, and standards as well as a thorough understanding of SaaS business models.Strong negotiation skills and experience with contract management.Knowledge of regulatory and compliance requirementsKnowledge of procurement processes.Excellent analytical and problem-solving skills.Strong organisational and project management skills, with the ability to manage multiple projects and priorities.Excellent communication and interpersonal skills, with the ability to build and maintain relationships with suppliers and internal stakeholders.Proficient in Microsoft Office and other procurement-related software.Bachelor's Degree in supply chain management or equivalent in a related field. (Finance, Technology, Procurement)

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit.

Skills

Competencies

Balances StakeholdersBuilds Effective TeamsBusiness InsightCommunicates EffectivelyFinancial AcumenManages ComplexityOptimizes Work ProcessesPersuades

Education

Closing Date

10 March 2025 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

The Old Mutual Story!