Procurement Specialist

1 month ago

Greater Bengaluru Area, India Vervent Full time

Summary:


We are seeking a highly skilled Procurement Specialist to manage procurement activities for our operations in India and the USA. The ideal candidate will be responsible for sourcing, negotiating, and purchasing goods and services to ensure efficient and cost-effective procurement processes. This role requires strong communication skills, strategic thinking, and the ability to collaborate with various stakeholders to meet the organization's procurement needs.


Primary Responsibilities



  • Develop and implement procurement strategies aligned with organizational objectives for India and USA operations.
  • Source suppliers and manage supplier relationships to ensure high-quality products and services are delivered on time and within budget.
  • Read SOW & Contract, negotiate contracts, pricing, and terms with suppliers to achieve cost savings and favorable terms for the organization.
  • Collaborate with internal stakeholders, including finance, operations, and legal teams, to understand procurement needs and requirements.
  • Conduct market research and analysis to identify potential suppliers, assess market trends, and benchmark pricing.
  • Manage the procurement process from requisition to purchase order issuance, ensuring compliance with company policies and procedures.
  • Monitor and evaluate supplier performance, address any issues or discrepancies, and implement corrective actions as needed.
  • Identify opportunities for process improvements and cost optimization within the procurement function.
  • Stay updated on industry best practices, regulations, and trends in procurement to drive continuous improvement and innovation.
  • Prepare and present reports and analysis on procurement activities, including savings, supplier performance, and key metrics, to Manger


Position Requirements:



  • Bachelor’s degree in related field, MBA or certification in supply chain management preferred
  • Minimum of 5 years of experience in procurement, sourcing, or supply chain management, with a focus on procurement.
  • Knowledge of local procurement laws (Customs, GST, Taxation, Contract laws etc)
  • Proven track record of negotiating contracts and achieving cost savings in procurement activities.
  • Strong understanding of procurement processes, sourcing strategies, and supplier management principles.
  • Excellent communication, negotiation, and interpersonal skills, with the ability to build relationships and collaborate effectively with internal and external stakeholders.
  • Analytical mindset with the ability to conduct market research, analyze data, and make data-driven decisions.


Soft Skills:


  • Excellent verbal and written communication skills.
  • Ability to operate well under pressure.
  • Flexibility to adapt to changing environments.
  • Sound decision making ability.


Company Overview


As a fintech leader, Vervent sets the global standard for outperformance by delivering superior expertise, future-built technology, and meaningful services. We support our industry-leading partners with primary strategic services and our goal is to empower companies to accelerate business, drive compliance, and maximize service.

Founded in 1986, purchased by current CEO, David Johnson, in 2008 Privately owned by Stone Point Capital, Vervent Management and other passive investors.


Lines of Business:


Primary Servicing – Loan, Credit Card & Lease

Capital Markets Services – Backup Servicing, Verifications,

Collateral Management, Structured Settlements, etc.

Credit Card Programs – within the Vervent Card Division we offer a) Captive Credit Card Programs (secured and unsecured) b) Managed Card Services

Global Service Operations supports all divisions to facilitate servicing and card program management Clients include consumer and small business “marketplace” lenders, finance companies, leasing companies, insurance companies, captive finance companies, alternative capital providers, consumers and banks Vervent services ~$150 billion in assets as a primary and backup servicer. It also manages ~1 million consumer credit cards.


Locations: San Diego, Baja, Portland, Sioux Falls, Philippines, India

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