Procurement Analyst at Renmoney

About the Role

• The Procurement Analyst will support and strengthen the Bank’s end-to-end procurement operations in alignment with the Bank’s national expansion strategy. The role ensures cost optimisation, vendor governance, process standardization, regulatory compliance, and strong internal controls across all states of operation.
• The successful candidate will contribute to building a scalable, technology-enabled procurement function that supports operational efficiency, risk management, and value creation.

What You Will Do

End-to-End Procurement Operations

• Manage and monitor the full procurement lifecycle including requisition, sourcing, evaluation, contracting, purchase order issuance, goods or service confirmation, and vendor payment coordination.
• Support end-to-end procurement processes from purchase requests to vendor payments.
• Ensure procurement activities are aligned with approved budgets and delegated authority limits.
• Enforce Service Level Agreements for procurement turnaround times.
• Track and update purchase requests and invoice journals.

Vendor Management & Governance

• Coordinate vendor onboarding, due diligence, KYC documentation, and compliance checks.
• Maintain and regularly review the approved vendor database.
• Assist with vendor onboarding documentation and database updates.
• Support periodic vendor performance evaluations and cost bench marking.
• Assist in contract management and renewal tracking.

Cost Optimisation & Strategic Sourcing

• Conduct price comparisons, spend analysis, and cost trend reviews.
• Identify opportunities for cost savings, vendor consolidation, and framework agreements.
• Support strategic sourcing initiatives for multi-state operations.

Compliance & Internal Controls

• Ensure strict adherence to procurement policy, internal controls, and audit requirements.
• Maintain complete audit trails and documentation integrity.
• Support internal and external audit reviews.
• Identify control gaps and recommend process improvements.
• Ensure compliance with procurement policies and internal controls.

Reporting & Analytics

• Prepare periodic procurement reports including spend analysis, vendor concentration. reports, SLA performance, and cost savings tracking.
• Help prepare procurement reports and maintain proper records.
• Use data analytics to support management decision-making.
• Maintain procurement dashboards.

Cross-Functional Coordination

• Liaise with Finance, Operations, IT, all departments, and regional offices.
• Follow up with vendors and internal stakeholders on pending deliverables.
• Support standardisation of procurement processes across all states.
• Follow up with vendors and internal stakeholders on pending items.

Requirements

What You Bring

Education

• Bachelor’s degree in Accounting, Finance, Economics, Business Administration, or related field.
• Professional certifications such as CIPS, ACA, or ACCA are an advantage.

Experience

• 5 years’ and above relevant experience with supervisory or strategic sourcing exposure.
• Experience in financial services or regulated institutions is highly desirable.

Technical Skills

• Strong proficiency in Microsoft Excel including pivot tables, lookups, and dashboards.
• Familiarity with ERP systems and procurement platforms.
• Understanding of procurement documentation flow and contract structures.
• Knowledge of internal control frameworks and audit requirements.

Core Competencies

• Strong analytical and problem-solving skills.
• High level of integrity and professional judgment.
• Excellent communication and stakeholder management skills.
• Strong organisational skills and attention to detail.
• Ability to work under pressure and meet deadlines.
• Process improvement mindset.
• Ability to work collaboratively within a team.
• Performance Expectations
• Reduction in procurement cycle time.
• Improved vendor compliance rate.
• Measurable cost savings and spend visibility.
• Zero major audit exceptions related to procurement.
• Standardised procurement operations across all states.