Toa Payoh - VP, Outsourcing Risk & Contract Management

• Opportunity to work in banking industry
• Working hours: Mon - Fri (9:00 AM-6:00 PM)
• Job type: Permanent

As part of the Planning team, you will support planning, development and implementation of new initiatives to improve the IT organization. You will perform day-to-day operation to support the IT procurement, IT outsourcing risk management, vendors and contract management, central contract register maintenance, as well as providing support in vendor onboarding and contract engagement process in compliance with company rules and local regulatory requirements.

• Support Project Managers to perform due diligence on new and existing third-party service engagements according to the prevailing Third-Party Risk Management Framework.
• Support vendor onboarding and contract engagement processes including service classification, risk assessment and materiality check etc.
• Maintain central contract register and contract repository for the entire IT organization.
• Keep abreast of the Company’s local and Head Office rules, and local regulatory requirements (e.g. PDPA, MAS Outsourcing Guidelines etc.) on vendor engagement and service outsourcing.
• Liaise with various stakeholders (vendors, Project Managers and Legal & Compliance Department) on the review of clauses in new contracts to ensure that all the clauses, including both legal and commercial terms are acceptable.
• Act as the contract owner to onboard and manage the contracted onshore and offshore vendors with multiple sub-contracts.
• Establish procurement process and guidelines for the IT Department, including RFP and tendering process.
• Establish rate card for standard goods and services as a benchmark for the IT organization.
• Perform analysis on procurement patterns based on procurement history and contract register to identify potential benefits from vendor consolidation.
• Assimilate the vision and strategies of IT Management to plan and implement initiatives accordingly.
• Propose and develop processes for new initiatives and operationalize them, in order to improve the IT organization.
• Promote centralization initiatives across different teams within the Asia Pacific region to optimize resource utilization and improve process efficiency.

• Master’s or bachelor’s degree in a relevant field such as Information Technology, Business Administration, Law, Finance, or Procurement. Diploma holders with strong working relevant experience will also be considered.
• Min. 5 to 7 years of working experience, preferably in a bank or financial institution.
• Professional Certificate in Contract Management, Procurement, and/or Vendor Management is good to have.
• Proven track record in working or managing a centralized contract and outsourcing risk management department/function for mid-large-scale institution.
• Proven track record in managing legal contracts and outsourcing management for mid-large-scale institution.
• Experience in handling contracts for offshore centers is a good to have.
• Experience in working with virtual teams in the Asia Pacific region.
• Excellent knowledge of the contract management process, contractual terms, and interpretations.
• Good understanding of Asia Pacific countries’ PDPA requirements and regional central bank’s Outsourcing, Technology Risk Management, Third Party Risk Management guidelines.
• Good understanding of Asia Pacific countries’ Procurement Management guideline.
• Strong understanding of the Banking Technology function
• Excellent analytical skills and a keen ability to solve problems with precision.
• Highly adaptable to technology and is driven by an innovative mindset.
• Clear and effective communicator, in both written and spoken forms.
• Proven ability in managing teams and fostering collaboration.

Saghana Sithara

Registration Number: R1550224