Procurement Lead

7 hours ago

Bengaluru, Karnataka, India Embassy REIT Full time

Job Purpose:

This role will lead and oversee controls and compliance procurement back-office processes, ensuring strategic alignment with project budgets, financial reporting, and vendor management. This role will involve managing the allocation of project budgets, monitoring expenditures, coordinating procurement transactions in SAP, and working closely with the CFO to ensure timely approvals for payments. They will collaborate extensively with Project Teams, Procurement team, Finance, and external vendors to drive efficient procurement processes while maintaining robust compliance and financial controls.

Key Responsibilities:

  • Design and implement effective control on the P2P process.
  • Periodic review of the design and operating effectiveness of those controls.
  • Ensure no non compliance issues on P2P process during audits.
  • Lead coordination efforts for budget approvals and allocations for projects, ensuring alignment with organizational financial goals.
  • Generate and manage work orders in accordance with approved budgets and track expenditures against project forecasts.
  • Ensure work orders are in due compliance with the Organization's policy and applicable laws and regulations
  • Ensuring adequate documentations are in place for work order approvals
  • Proactively manage project costs and provide timely reports on budget variances to senior leadership.
  • Collaborate with Treasury to forecast project-related payments and contribute to cash flow planning.
  • Oversee the creation and management of Project codes in SAP, ensuring data accuracy and consistency across systems.
  • Deliver comprehensive and actionable MIS reports, including work order status, cash flow projections, PO tracking, and payment certifications, to the Finance and Treasury teams, ensuring visibility to the CFO.
  • Serve as the primary liaison between vendors and internal teams, maintaining clear and transparent communication channels.
  • Ensure compliance with all CLRA regulations for subcontractors and take corrective actions in case of deviations.
  • Provide strategic recommendations to improve procurement efficiency and cost management.

Qualifications and Work Experience:

  • CA will be preferred, Post Graduate degree or equivalent with 8-10 years of relevant experience in procurement or financial management.
  • At least 8 years of experience in a procurement leadership role within the construction or real estate sectors.
  • Strong experience in managing procurement functions, financial planning, and team leadership.

Knowledge, Skills and Competencies:

  • Proven ability to manage complex procurement functions and budgets at a senior level.
  • Excellent interpersonal, communication, and presentation skills with a focus on stakeholder management.

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