Job Description
Summary
To provide support to the Procurement Manager drafting, reviewing, negotiating, and managing contracts to ensure compliance with Bank policies, legal requirements, and business goals. This role acts as a liaison between user departments, legal, finance and suppliers to facilitate smooth contract lifecycle and change/variation management and minimize contractual risks.
Contracts Management Activities (Duties & Responsibilities)
1. Support to manage end-to-end Contract lifecycle.
2. Develop standard contract templates and terms and conditions.
3. Develop standard terms and conditions for purchase orders.
4. Prepare, review, and amend a wide range of contracts including but not limited to goods/services call-off, IT hardware/software supply, installation, maintenance and support, leasing services, insurance, consultancy services, service level agreements, non-disclosure agreements, etc.
5. Ensure all contracts comply with company standards, applicable laws, and regulatory requirements.
6. Collaborate with user, legal, finance and procurement sourcing team to gather contractual inputs and ensure alignment.
7. Liaise with suppliers to obtain updated legal documents and contractual inputs.
8. Support contract negotiations with suppliers, consultants, and service providers.
9. Identify and mitigate potential legal and business risks during negotiations.
10.Initiate contract approvals and sign-off as per the company delegation of authority / financial authority matrix.
11. Distribute the signed original contracts to the Suppliers.
12. Store the Original signed contract copies in safe custody.
13.Distribute an electronic copy of the contacts to all internal stakeholders (user, finance, sourcing team, etc.).
14. Maintain and manage a centralized contract repository (electronic and physical).
15. Monitor and track key contract milestones such as renewal dates, obligations, and deliverables.
16. Review the active contract list periodically and notify users on the contract expiry dates and ensure users are raising the contract renewal requests well before the expiry dates.
17. Process and manage the contract variations, addendum, amendments, etc.
18. Ensure timely execution, amendment, renewal, or closure of contracts.
19. Manage and recommend the best way forward to resolve disputes to ensure mutual satisfaction of both parties, liaising with relevant departments (e.g., users, legal, etc.) as needed for proper dispute management.
20. Develop and generate reports on contract status, expirations, and performance metrics.
21. Maintain accurate and up-to-date contract records and documentation.
Budgeting and Financial Performance
1. Monitor the financial performance of a given area of activity versus budgets and ensure all activities are carried out in line with the approved guidelines while promptly reporting on any variances to internal stakeholders.
Supplier Relationship Management
1. Build high levels of trust and understanding with key external stakeholders including suppliers and contractors to promote full compliance with industry regulations and promote broader understanding of Banks’ interests and practices.
2. Keep record of all suppliers and goods, services and/or works purchased through contracts for future reference ensuring the continuous procurement of high-quality goods, services and/or works in the most cost-efficient manners.
3. Support in conducting the supplier performance evaluation in conjunction with the user dept and supplier management team.
4. Initiate and support supplier pre-qualification initiatives in coordination with Supplier Management team and maintain a list of pre-qualified suppliers of assigned or group of categories.
Policies, Systems, Processes & Procedures
1.Provide inputs and implement policies, systems and procedure so that all relevant procedural / legislative requirements are fulfilled while delivering a quality and cost-effective service.
2. Ensure compliance at all times of the Company to procurement and contract processes, delegation of authority and any other relevant policies and processes in all procurement activities carried out.
Quality, Health, Safety, & Environment
1. Ensure compliance with all relevant quality, health, safety and environmental management procedures and controls to guarantee employee safety, compliance, delivery of high-quality products/service and a responsible environmental attitude.
Continuous Improvement
1. Identification of opportunities for continuous improvement and sustainability of systems, processes and practices considering global standards, productivity improvement and cost reduction.
2. Take responsibility for own ongoing personal development and growth of expertise.
3. Remain up to date with market trends and developments in procurement and supply chain domain.
MIS and Reporting
1. Prepare sectional statements and reports timely and accurately to meet department requirements, policies and quality standards.
2. Provide regular status updates to procurement management and stakeholders on active and inactive ongoing, pending contracts and procurement/contracts savings etc.
Related Assignments
1. Perform other related duties or assignments as directed.
2. To act as a back-up in the absence of a colleague.
COMMUNICATIONS & WORKING RELATIONSHIPS
Internal
1. User departments / Business Units
2. Legal
3. Finance
4. Procurement/Sourcing
External
1. Suppliers
2. Contractors
3. Executive Member
FRAMEWORKS, BOUNDARIES & DECISION-MAKING AUTHORITY
1. The Contract Specialist is required to support Procurement Manager with all company contract management activities.
2. Key decisions in the assigned categories are referred to the Procurement Manager for approval before implementation.
3. All decisions concerning policies and procedures for the department are taken by the Head of Administration.
4. All financial decisions will be as per the DOA / financial authority matrix set by Bank.
