Assistant Vice President, Vice President, Senior Procurement Specialist

  • Competitive
  • Hong Kong Hong Kong Hong Kong HK
  • Permanent, Full time
  • Bank Of America / Merrill Lynch
  • 26 May 18 2018-05-26

Assistant Vice President, Vice President, Senior Procurement Specialist

About Bank of America Merrill Lynch:

Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 40 countries. In the U.S alone, we serve almost all Fortune 500 companies and approximately 59 million consumers and small-business customers. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.

Connecting Asia Pacific to the World

Our Asia Pacific team is spread across 23 offices in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region's leading financial services companies.

Bank of America Merrill Lynch is committed to attracting, recruiting and retaining top diverse talent from across the globe. Our diversity and inclusion mission is to actively promote an inclusive work environment where all employees have the opportunity to achieve personal success and contribute to the growth of our business. Each of our global Employee Networks bring together employees, create dialogue and awareness in support of our Diversity and Inclusion mission.

Bank of America Merrill Lynch is an equal opportunities employer.

Position Description

Senior Procurement Specialist hired to support (list FLUs/CFs) in the end-to-end management of procurement and related risk management activities within the (insert FLU/CF/Region) Procurement Team.

As a Senior Procurement Specialist, you will be responsible for negotiating mid-to high-level deals. This includes identifying the critical elements of a deal and developing a procurement strategy, which best serves the interests of BAC and drives value to the enterprise. When completing an assigned deal, the Senior Procurement Specialist is responsible for the quality of the deal, including process adherence, deal substance, and accurate data capture. Viewed as a trusted advisor by the business stakeholders, the Senior Procurement Specialist is expected to have subject matter expertise in diverse commodity areas and to frequently support the development of category strategies. Aside from supporting the procurement of goods and services, a Senior Procurement Specialist may also support in effectively implementing the Third Party Policy, including the effective use of third parties.

Key Responsibilities

  • Negotiate contracts in accordance with best practices, assists the business owner in creating a SOW/SLA, providing clarity and addressing all applicable requirements
  • Understand and adhere to Global Procurement processes and policies
  • Able to use persuasion to build group consensus and resolve challenging situations
  • Assist in leading a project team in the development of complex proposal documents and is proficient in the objective analysis of proposal responses, the identification on non-conforming items and the overall evaluation of potential service providers
  • Help structure elements of an RFP (technical, contractual, schedule and cost) in order to ensure that uniformed bids are received
  • Capable of influencing the category strategy to achieve business goals and objectives
  • Is a practitioner of minimizing risk, attaining best value (cost saves), and providing complete solutions
  • Help identify and escalate risks and issues to the appropriate governance routines
  • Analyze business level of adherence within program scorecards in order to identify potential themes and issues
  • Quickly adapt to changes within the Procurement Program and be able to help reinforce changes within the business stakeholders
  • Balance being an advocate for the Procurement Program and representing legitimate concerns from business stakeholders
  • Work routinely with risk partners (Legal, Compliance, Ops, Info Sec, etc.) in negotiating deals and in managing outsourcing risk
  • Assist business in providing documentation/evidence when responding to audit and/or regulatory inquiries
  • Has a strong desire to learn, positive attitude, and be flexible and creative in job execution
  • Consistently provide a high level of service by establishing and clearly communicating mutual expectations, developing an understanding of business needs, and demonstrating competency and consistency in meeting commitments
  • Builds broad-based business relationships and partnerships across the organization, skillfully influences peers and colleagues to promote and sell ideas, and proactively surfaces and resolves conflict with minimal noise
  • Proven ability to communicate, partner, and influence across a matrix organization
  • Leverages organizational skills to monitor work and keep it on track to meet or exceed commitments and consistently provides updates to the concerned parties
  • Exemplifies strong time management skills, able to work independently, manage concurrent projects, set goals, and prioritize focus
Key Requirements
  • Significant experience of sourcing for (Technology) categories
  • Software category experience would be beneficial
  • Legal experience, while not required, would be beneficial
  • Previous experience, ideally within the Financial Services Industry, preferred, but not mandatory
  • Have experience managing outsourcing and/or third party risk
  • Self-starter, with capability of working autonomously across multiple procurement projects is essential
  • Working knowledge of relevant outsourcing laws, rules, and regulations
  • Have experience negotiating contracts
  • Sound commercial awareness and good analytical and research skills
  • Comfortable with Sourcing systems (ideally Ariba) spreadsheets, presentations and project management
  • Excellent communicator at all levels
  • Able to build and manage relationships with business partners across various teams
  • Proactive, conscientious and high level of attention to detail

Posting Date: 09/05/2018
Hong Kong, , 51 KWAI CHEONG ROAD ,
- Hong Kong

Full / Part-time: Full time
Hours Per Week: 40