About The Role

A Senior Associate of Technology Procurement shall be driving strategic sourcing, contract negotiations, and vendor governance for critical IT infrastructure, software, and services.

Role Overview

Department: Group Procurement / Technology & Operations
Key Focus: Driving cost optimization, mitigating third-party risk, and ensuring strict regulatory compliance in a highly secure financial environment.

Key Responsibilities and Requirements

Strategic Sourcing & Category Management:
Lead end-to-end procurement projects for major technology portfolios, including IT Infrastructure – Switches, Routers, Storage, core banking applications, cybersecurity solutions, data centers, and IT professional services.
Develop multi-year category strategies aligned with the bank’s digital transformation and operational goals.
Commercial Negotiation & Cost Optimization:
Drive complex commercial negotiations with major tier-1 technology vendors to achieve Total Cost of Ownership (TCO) reductions.
Establish pricing models, volume discounts, and favorable service level agreements (SLAs).
Conduct Reverse Auctions to discover pricing
Risk & Regulatory Compliance:
Ensure all technology vendor engagements adhere to financial regulatory frameworks
Partner with Risk, Information Security, and Legal teams to perform vendor due diligence and risk assessments.
Vendor Lifecycle & Relationship Management (SRM):
Manage strategic vendor performance reviews, contract renewals, dispute resolution, and vendor rationalization.
Stakeholder & Team Leadership:
Collaborate with internal business partners (CIOs, CTOs, Finance, and Legal) to forecast technology demand and streamline the procure-to-pay (P2P) lifecycle.
Education: Bachelor’s degree in Engineering with MBA from reputed institute shall be an added advantage
Experience: 8 to 10 years of progressive experience in IT procurement, strategic sourcing, or commercial management, with significant exposure to a regulated banking or financial services environment.
Technical Knowledge: Deep understanding of software licensing metrics, cloud consumption models, hardware infrastructure, and IT service agreements.
Skills: Advanced contract negotiation, Advance excel skills, executive-level stakeholder management, financial modeling (TCO/ROI analysis), and risk mitigation.
Tools & Certifications: Familiarity with e-procurement platforms, COUPA etc