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Contract and Outsourcing Risk Management Specialist
1 week ago
Assist Project Managers in conducting due diligence for new and existing third-party service engagements in alignment with the organization's Third-Party Risk Management Framework.
Support vendor onboarding and contract engagement activities, including service classification, risk assessment, and materiality evaluation.
Maintain and update the central contract register and repository for the entire IT organization.
Stay informed on company policies, Head Office directives, and local regulatory requirements (e.g., PDPA, MAS Outsourcing Guidelines) regarding vendor engagement and outsourcing services.
Collaborate with stakeholders, including vendors, Project Managers, and the Legal & Compliance Department, to review contractual terms and ensure both legal and commercial clauses are acceptable.
Act as the primary contract owner for managing onshore and offshore vendors with multiple sub-contracts.
Develop and implement procurement processes and guidelines for the IT department, including overseeing RFP and tendering procedures.
Establish a standardized rate card for IT goods and services to serve as a benchmark for procurement.
Analyze procurement trends and contract history to identify potential cost-saving opportunities through vendor consolidation.
Align IT initiatives with the organization’s strategic vision and management objectives to drive effective planning and execution.
Design, develop, and operationalize new processes to enhance the efficiency and effectiveness of the IT organization.
Promote centralization initiatives across teams within the Asia Pacific region to optimize resource allocation and improve overall process efficiency.
Job Requirements:
A Master’s or Bachelor's degree in Information Technology, Business Administration, Law, Finance, Procurement, or a related field. Diploma holders with substantial relevant experience may also be considered.
At least 5 to 7 years of professional experience, preferably within the banking or financial services sector.
Professional certifications in Contract Management, Procurement, or Vendor Management are advantageous.
Demonstrated experience in managing a centralized contract and outsourcing risk management function in a mid-to-large-scale organization.
Proven expertise in handling legal contracts and outsourcing arrangements for mid-to-large-scale institutions.
Prior experience in managing contracts for offshore centers is beneficial.
Experience working with virtual teams across the Asia Pacific region.
Strong knowledge of contract management processes, contractual terms, and their interpretations.
Good understanding of PDPA regulations across Asia Pacific countries, as well as regional central bank guidelines on Outsourcing, Technology Risk Management, and Third-Party Risk Management.
Familiarity with procurement management guidelines applicable in Asia Pacific countries.
Solid understanding of banking technology functions.
Strong analytical skills with a problem-solving mindset.
Highly adaptable to technological advancements with an innovative approach.
Excellent communication skills, both written and verbal.
Proven ability to lead teams and foster collaboration.
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