Senior Procurement Specialist (Contracts & Vendor Management)

About the role

The Senior Specialist, Procurement is a 12-month full-time contract position in Barbados within the banking and financial services industry. The role covers the negotiation, administration and ongoing management of supplier and service contracts with third-party providers, working closely with stakeholders and suppliers to negotiate commercial terms, manage vendor relationships and ensure procurement aligns with business, regulatory and third-party risk requirements.

Key responsibilities

• Negotiate, initiate and administer local, less complex supply and services contracts in line with company policies, safeguarding the organisation from financial, legal and reputational risk.
• Conduct due diligence on new and existing contracts, reviewing terms and conditions, identifying non-compliant agreements and escalating concerns.
• Assess supplier performance against agreed service standards and recommend renegotiation, vendor changes or service improvements.
• Review procurement processes and run cost-benefit analyses and feasibility studies on supplier selection and contract negotiation.
• Make data-informed recommendations to support procurement decisions and strengthen supplier performance.
• Comply with procurement procedures and third-party risk management policies, and maintain close working relationships with shared service units, country management and other partners.
• Hold meetings and present to stakeholders and senior management to support contract negotiations and supplier relationships.

Required profile

• Undergraduate degree in a relevant field such as Procurement, Supply Chain Management, Business Administration, Management, Banking or Finance.
• Minimum 4 years' experience in procurement, including contract negotiation, sourcing and managing third-party suppliers locally, regionally and internationally.
• Experience in cross-functional teams is preferred.
• Understanding of local legislation and proposed changes affecting sourcing, and of international regulations on the shipment and importation of goods, including Incoterms 2020.
• Preferred: experience in supplier agreement negotiation, vendor management, technology/software/licensing agreements, professional services and outsourcing contracts, and procurement in regulated industries.

Required skills

• Strong negotiation, analytical and contract management skills.
• Stakeholder engagement and communication skills, with the ability to present information clearly.