Vice President, IT Procurement, Contract Management & Third-Party Risk Management (Singapore)

Job description

Headquartered in Tokyo, Sumitomo Mitsui Banking Corporation (SMBC) is a leading global financial institution and a core member of Sumitomo Mitsui Financial Group (SMBC Group). Built upon our rich Japanese heritage since 1876, we put our customers first and provide seamless access to, from and within the Asia Pacific region. SMBC is one of the largest Japanese banks by assets and maintain strong credit ratings across our global integrated network. We work closely as one SMBC Group to offer personal, corporate and investment banking services to meet the needs of our customers. With sustainability embedded within our strategy and operations, we are committed to creating a society in which today’s generation can enjoy economic prosperity and well-being, and pass it on to future generations. Purpose of the Role The incumbent will be part of the IT Planning Group (IPG) within the Information Technology Department and will be responsible for managing and continuously enhancing the Bank's IT procurement, strategic sourcing, contract management, vendor governance, and third-party risk management functions across the Asia Pacific region. The role focuses on managing the end-to-end vendor lifecycle, including sourcing, procurement, contract negotiation, vendor onboarding, due diligence reviews, outsourcing assessments, and ongoing vendor governance. The successful candidate will drive continuous improvement of procurement and contract management practices, support cost optimization and vendor consolidation initiatives, and ensure compliance with internal policies, Head Office requirements, and applicable regulatory obligations. The candidate will work closely with business stakeholders, project teams, Legal, Compliance, Risk Management, Information Security, and external vendors to support the Bank's business, operational, and regulatory objectives across the Asia Pacific region. Key Responsibilities IT Procurement, Strategic Sourcing & Continuous Improvement Drive continuous improvement of IT procurement, strategic sourcing, contract management, vendor governance, and third-party risk management processes. Manage end-to-end sourcing activities, including RFI, RFQ, RFP, tender exercises, vendor evaluations, supplier selection, and commercial negotiations. Collaborate with Global Procurement and relevant stakeholders to align regional sourcing strategies, procurement practices, and vendor management initiatives with the Bank's global procurement framework and strategic sourcing objectives. Promote standardization and best practices across vendor engagement, procurement, contracting, and outsourcing activities. Perform spend analysis, market benchmarking, and procurement reviews to identify opportunities for cost optimization, vendor consolidation, operational efficiency, and process automation. Maintain and enhance procurement policies, procedures, and governance frameworks in line with internal policies and regulatory requirements. Contract Management & Vendor Governance Maintain and continuously improve the centralized contract repository and contract registry for the IT organization. Manage the full contract lifecycle, including contract review, negotiation, execution, renewal, amendment, and termination. Collaborate with Legal, Compliance, Risk Management, Information Security, and business stakeholders to review and negotiate contractual, commercial, operational, and regulatory requirements. Monitor vendor performance, contractual obligations, service levels, key milestones, renewal timelines, and contractual risks. Manage onshore, offshore, outsourced, and intra-group service arrangements throughout their lifecycle. Third-Party Risk Management & Outsourcing Governance Support vendor onboarding activities, including vendor classification, materiality assessments, outsourcing assessments, and due diligence reviews. Coordinate third-party risk assessments covering information security, data privacy, operational resilience, business continuity, financial, and regulatory risk domains. Perform periodic reviews of vendors, subcontractors, and outsourcing arrangements to ensure compliance with internal policies and regulatory requirements. Support audits, regulatory reviews, issue remediation, and governance reporting relating to vendor and outsourcing risks. Maintain documentation and evidence required for regulatory reviews, audits, and governance purposes. Stakeholder & Vendor Management Build and maintain effective relationships with business stakeholders, project teams, vendors, Legal, Compliance, Risk Management, Information Security, and other support functions. Provide guidance and advisory support on procurement, contract management, outsourcing, and third-party risk management matters. Facilitate vendor discussions and contract negotiations while balancing commercial, operational, risk, and regulatory considerations. Prepare management reports and presentations relating to procurement activities, contract portfolios, vendor performance, risk exposure, and cost optimization initiatives. Requirements Education & Professional Qualifications Bachelor's Degree in Information Technology, Business Administration, Procurement, Supply Chain Management, Finance, Law, Risk Management, or a related discipline. Professional certifications in Procurement, Contract Management, Vendor Management, Third-Party Risk Management, or related disciplines will be an advantage. Experience Minimum 7 to 10 years of relevant experience in IT procurement, strategic sourcing, contract management, vendor management, outsourcing governance, or third-party risk management, preferably within the banking or financial services industry. Proven experience managing sourcing activities, vendor engagements, contract negotiations, and contract governance processes. Experience supporting audits, regulatory reviews, compliance assessments, and governance initiatives will be an advantage. Knowledge & Skills Strong understanding of IT procurement, strategic sourcing, contract lifecycle management, vendor governance, and third-party risk management practices. Good understanding of regulatory requirements relating to outsourcing, technology risk management, data protection, and third-party risk management. Familiarity with MAS Outsourcing Guidelines, MAS Technology Risk Management Guidelines, PDPA, and other relevant regulatory requirements will be an advantage. Strong commercial acumen and contract negotiation skills. Excellent stakeholder management, communication, and influencing skills. Strong analytical, problem-solving, and presentation skills. Proficiency in Microsoft 365 applications, including Excel, PowerPoint, and SharePoint. Ability to work independently and effectively manage multiple priorities across different stakeholders and locations. SMBC Core Values Customer First Integrity Proactive & Innovative Speed & Quality Team SMBC Group