Head of Procurement at Fairmoney Microfinance Bank

AB Microfinance Bank Nigeria Limited

Date: 20 hours ago

City: Lagos, Lagos

Contract type: Full time

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Company:
Location: Nigeria
State:
Job type: Full-Time
Job category:

FairMoney is building the leading mobile bank for emerging markets. We started with a digital microcredit application on Android, and currently roll out additional financial services (current account, savings, debit card) while expanding the product to Western Africa and South-East Asia.

We Are Recruiting To Fill The Position Below

Job Title: Head of Procurement

Location: Lagos

Job Summary

The Head of Procurement will be responsible for developing and implementing procurement strategies to optimize costs, ensure supplier quality, and drive operational efficiency.
This role involves overseeing all procurement activities, managing vendor relationships, ensuring compliance with regulatory requirements, and aligning procurement functions with the company’s strategic objectives.

Key Responsibilities

Strategic Procurement Management:

Develop and implement procurement policies, procedures, and strategies to optimize spending and enhance operational efficiency.
Align procurement activities with FairMoney’s financial and business objectives, ensuring cost savings and value creation.
Lead negotiations with suppliers to secure the best terms, pricing, and service levels.
Identify and mitigate procurement-related risks, including supplier reliability, regulatory compliance, and market fluctuations.

Vendor And Supplier Management

Establish and manage strong relationships with key suppliers and vendors to ensure the timely and cost-effective delivery of goods and services.
Evaluate and categorize suppliers based on strategic importance, quality, and risk exposure.
Implement supplier performance management processes, including key performance indicators (KPIs) and regular assessments.

Operational And Compliance Oversight

Ensure that procurement processes comply with internal policies, financial controls, and regulatory requirements.
Collaborate with Finance and Legal teams to review and approve contracts, ensuring transparency and risk mitigation.
Develop and oversee procurement budgets and spending forecasts, ensuring cost-effective purchasing decisions.

Team Leadership And Development

Build, train, and manage a high-performing procurement team, fostering a culture of efficiency and continuous improvement.
Provide guidance and coaching to procurement staff, ensuring alignment with business priorities and best practices.
Promote ethical procurement practices and adherence to corporate governance policies.

Technology And Process Optimization

Leverage procurement technology and automation tools to improve procurement efficiency and reporting.
Monitor industry trends and emerging best practices to enhance FairMoney’s procurement strategy.
Implement and maintain supplier management and e-procurement systems for streamlined operations.

Requirements

Bachelor’s degree in Procurement, Supply Chain Management, Business Administration, Finance, or a related field.
Professional certification (e.g., CIPS, CPSM, PMP) is a strong advantage.
Minimum of 5 years of experience in procurement
Experience in the financial services or banking sector is preferred.
Strong knowledge of procurement best practices, contract negotiation, and supplier management.
Proficiency in procurement software and ERP systems (NetSuite experience is a plus).
Excellent leadership, negotiation, and stakeholder management skills.

Key Competencies

Cost management and budgeting
Risk assessment and mitigation
Relationship management and negotiation skills
Regulatory compliance and governance
Strong analytical and problem-solving abilities.