Vice President - Procurement

Max Life Insurance

Gurgaon, Haryana
Permanent
Full-time

8 hours ago

aAbout Max Life Insurance:Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of the Max Group, an Indian multi business corporation.Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multichannel distribution including agency and third party distribution partners. Max Life has built itsoperations over almost two decades through need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital.As per public disclosures, during the financial year 2019-20, Max Life achieved gross written premium of Rs. 16,184 crore. As on 31st March 2020, the Company had Rs. 68,471 crore of assets under management (AUM) and a Sum Assured in Force of Rs. 913,660 crore.For more information, please visit the Company's website atWe Stand for:CaringA compassionate leader who demonstrates appreciation for diversity in thoughts and approach towards people as well initiatives, eliminates biases to promote meritocracy. A coach who inspires people to excel and sets a culture of high performance.CollaborationA boundary-less leader who is capable of identifying & leveraging expertise of team members for superlative outcomes, thus, delivers to the organization's ask. A leader who addresses challenges with a solution oriented approach to create “win-win” partnerships within & outside teams through inspired cooperation and teamwork.Customer ObessionA leader who embodies Customer and keeps him at the core of all deliverables. Proactively anticipate customer needs and implement strategies to provide best in class customer experience.Growth MindsetAn ambitious leader who can sponsor game changing ideas and rally the team to turn them into a reality. A leader who challenges the status quo, takes bold & creative actions to manage complex issues & achieve high impact goals by pushing self and others and raise the bar on performance.People LeadershipA people's leader who inspires their teams to stretch themselves and achieve their true potential. A leader who create leaders by coaching, empowering & motivating them to deliver superior business outcomes."Max Life Insurance is an Equal Opportunity Employer and promotes inclusion and diversity."JOB DESCRIPTIONJob titleVice President &Technology Procurement HeadBase LocationGurugram (NCR)Reports ToCorporate Vice President & Procurement HeadPosition TypePeople ManagerHiring FunctionProcurement (CFO Organization)Job PurposeTechnology Procurement Lead is responsible for all direct & Indirect technology sourcing needs across business operations and corporate functions. He/she would be instrumental in identifying, building and managing effective relationships, with key suppliers and in improving the performance and capability of all significant sources of supply.Effectively utilize strategic sourcing and supplier relationship management processes to achieve company goals of securing continuity of supply of goods and services, reducing total cost of ownership, improving supplier quality, establishing external partnerships to accelerate innovation and lead identification and execution of cost optimization initiatives. Support organizational strategies to achieve corporate objectives.Job Accountabilities

Effectively manage the annual Technology Spend of INR 350 Cr+ across hardware, software, cloud, application development, digital initiatives, maintenance, and support services.
Tech Procurement Contracts worth Rs 350 Cr+ will increase to Rs 453 Cr in FY25, 530 Cr in FY26 and 625 Cr in FY27 (~70% of the total spend).
Deliver KPIs of cost reduction, cost avoidance, quality of services, timely deliveries, risk management, stakeholder engagement, controls and compliances, .
Develops and execute Source to Contract Cycle and Category Management Strategy.
Develop and maintain robust eco-system of vendor partners, consolidate spend, reduce the use of non-strategic suppliers, implement supplier-sourcing strategies to ensure cost competitiveness.
Create and negotiate high impact outcome focussed commercial structure
To represent Procurement and Lead all Technology infusion related Strategic Transformational Initiatives in IT and Operations
Lead and Drive Procurement Function related Technology led Transformational Initiatives (Digitalization & Process Improvements).
Lead and build a strong, talented team, and an effective structure leveraging best practices to deliver wider organization goals.

Contribute in establishing robust procurement systems & processes.

Provide hands-on support & guidance to the team in analysing procurement spend, contract negotiation, supplier qualification and selection.
Ensure all established costs, quality, and delivery commitments are met.
Lead all aspects of supplier, outsourcing partner negotiations, including contract terms, pricing and performance management.
Adherence to ever evolving control and compliance requirements for corporate governance, fair and ethical practices
Third party risk management related to Technology vendor partners

Job Context· Max Life Insurance is a fast -growing company (annual sales turnover of ~ $3 Bn). Its one of the largest private insurance companies in India.· Insurance industry is at cusp of explosive growth amid growing market size and federal focus to ensure Insurance for all. Job holder will have the opportunity to support shaping the future of Max Life Insurance and sustain its profitable growth path.Role ProfileProfessional Qualification

Engineering Degree /Graduation in Materials or Supply Chain Management or Operations Management

Preferred MBA or CPSM / equivalent certification

Desired Skills & Experience

20+ years of sourcing and procurement experience. Strong experience in deploying strategic sourcing plans and delivering KPIs (Savings, Quality of Service, Risk Management, Digitalization, Controls & Compliances).
In-depth understanding and expertise in technology sourcing across multiple business use cases.
Adept in understanding of technology alternatives, cloud sourcing and negotiation, design and negotiation of high value high impact deals
In-depth understanding and proven relationships in vendor eco-system comprising of large blue chip companies across diverse technology product and service offerings, Tier 2 local vendors and local taxation.
Proven expertise in managing a spend of Rs 300 Cr+ and leading team of buyers
Proven expertise in stakeholder management (supplier relationship and business stakeholders)
Ability to work in as fast - paced, entrepreneurial environment
Strong compliance mindset, with ability to build & implement robust system & processes
Proven expertise in managing Digitalization initiatives in Source to Contract Systems and Procure to Pay ERP systems.
Prior experience of designing and implementing processes and systems

Values

Customer Obsession

o Go beyond the creating customer delighto Understand the customer business needs and implement strategies to find value added solution to business problems

Collaboration

o Solution Oriented, Inspire by bridging gapso Encourage others to give their best and go beyond the normal call of duty

Growth Mindset

o Uses insights and intellect to raise the bar, continually challenges the boundarieso Sets stretched goals and pushes self and others to maximize outcomes

Highest degree of Ethics and Integrity

Behaviour and Skills:

Focus on Results

o Strong analytical mindseto Good execution ability wherein strategy can be balanced with operations

Change Orientation

o Creativity to seek, encourage and find innovative approacheso Able to adapt quickly to a constantly changing environment

Influencing

o High energy, action oriented, agile in changing and growing environments.

Build Effective Teams

o Collaborative working approach to bring people on boardo Effective leadership and influencing skills.o Orientation towards team development

Self-Awareness & Impact

o Excellent strategic thinking skills combined with strong analytical skills

Communication

o Excellent communication and listening skills; be confident, resilient, and comfortable with communicating at all levelso Emotional intelligence to deal with different stakeholders within the company

Max Life Insurance

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