Head of Procurement at Fairmoney Microfinance Bank Full Time

Job Title: Head of Procurement

Location: Lagos
Employment Type: Full-time

Job Summary

• The Head of Procurement will be responsible for developing and implementing procurement strategies to optimize costs, ensure supplier quality, and drive operational efficiency.
• This role involves overseeing all procurement activities, managing vendor relationships, ensuring compliance with regulatory requirements, and aligning procurement functions with the company’s strategic objectives.

Key Responsibilities
Strategic Procurement Management:

• Develop and implement procurement policies, procedures, and strategies to optimize spending and enhance operational efficiency.
• Align procurement activities with FairMoney’s financial and business objectives, ensuring cost savings and value creation.
• Lead negotiations with suppliers to secure the best terms, pricing, and service levels.
• Identify and mitigate procurement-related risks, including supplier reliability, regulatory compliance, and market fluctuations.

Vendor and Supplier Management:

• Establish and manage strong relationships with key suppliers and vendors to ensure the timely and cost-effective delivery of goods and services.
• Evaluate and categorize suppliers based on strategic importance, quality, and risk exposure.
• Implement supplier performance management processes, including key performance indicators (KPIs) and regular assessments.

Operational and Compliance Oversight:

• Ensure that procurement processes comply with internal policies, financial controls, and regulatory requirements.
• Collaborate with Finance and Legal teams to review and approve contracts, ensuring transparency and risk mitigation.
• Develop and oversee procurement budgets and spending forecasts, ensuring cost-effective purchasing decisions.

Team Leadership and Development:

• Build, train, and manage a high-performing procurement team, fostering a culture of efficiency and continuous improvement.
• Provide guidance and coaching to procurement staff, ensuring alignment with business priorities and best practices.
• Promote ethical procurement practices and adherence to corporate governance policies.

Technology and Process Optimization:

• Leverage procurement technology and automation tools to improve procurement efficiency and reporting.
• Monitor industry trends and emerging best practices to enhance FairMoney’s procurement strategy.
• Implement and maintain supplier management and e-procurement systems for streamlined operations.

Requirements
Key Qualifications & Experience:

• Bachelor’s degree in Procurement, Supply Chain Management, Business Administration, Finance, or a related field.
• Professional certification (e.g., CIPS, CPSM, PMP) is a strong advantage.
• Minimum of 5 years of experience in procurement
• Experience in the financial services or banking sector is preferred.
• Strong knowledge of procurement best practices, contract negotiation, and supplier management.
• Proficiency in procurement software and ERP systems (NetSuite experience is a plus).
• Excellent leadership, negotiation, and stakeholder management skills.

Key Competencies:

• Cost management and budgeting
• Risk assessment and mitigation
• Relationship management and negotiation skills
• Regulatory compliance and governance
• Strong analytical and problem-solving abilities.

Benefits

• Private Health Insurance
• Pension Plan
• Paid Time Off
• Training & Development.

Application Closing Date
Not Specified.