Senior Manager, IT Procurement

Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

Prudential plc is an Asia-led portfolio of businesses focused on structural growth markets. The business helps individuals to de-risk their lives and deal with their biggest financial concerns through life and health insurance, and retirement and asset management solutions. Prudential plc has 20 million customers and is listed on stock exchanges in London, Hong Kong and Singapore.
Prudential was founded in London in 1848 on the principles of integrity, security and prudence and we still adhere to those principles today.
Prudential Plc issues a significant number of financial products, all of which involve an underlying exposure to investments both from the perspective of generating returns in line with policyholder expectations and matching any guarantees.
Prudential’s Procurement Function plays a strategic enterprise-wide role in delivering value, driving operational efficiency, and safeguarding the organization’s risk posture. The function ensures that business and corporate groups receive the right goods and services at the right time and the right price, while maintaining disciplined spend management and reducing operating costs. It operates through an ethical, structured sourcing framework supported by skilled procurement professionals and cross-functional teams, emphasizing responsible vendor selection, strong supplier relationships, and adherence to Prudential’s Supplier Code of Conduct. The team integrates financial viability, environmental responsibility, and risk management into all sourcing decisions, reflecting Prudential’s values and commitment to integrity. In recent years, Prudential has also accelerated a data-driven procurement transformation—building a robust spend visibility foundation, modernizing sourcing processes, and leveraging advanced technologies such as AI to elevate procurement from a tactical function to a strategic driver of enterprise-wide impact.

Principal Accountabilities:

Strategic Sourcing & Category Management

In this role, you will lead the development and execution of multi‑year procurement strategies across key IT categories—such as cloud, software, infrastructure, cybersecurity, digital platforms, and IT services.

• Define category roadmaps aligned to Prudential’s technology strategy and enterprise goals.

• Lead complex, high‑value sourcing events including RFPs, competitive negotiations, renewals, and vendor selections.

• Develop pricing models and negotiation frameworks to optimize total cost of ownership.

• Continuously identify opportunities for cost optimization, operational efficiency, and value creation while ensuring measurable commercial impact.

Stakeholder & Business Partnering

You will act as a trusted advisor to senior leaders across Technology, Digital, and Business units.

• Understand business priorities and translate them into sourcing strategies that balance cost, innovation, speed, and risk.

• Provide market intelligence, competitive benchmarks, and negotiation levers to help stakeholders make informed decisions.

• Guide stakeholders through the complete procurement lifecycle—from requirements and evaluation to contracting and vendor onboarding.

• Build credibility and influence across a matrixed global environment.

• Identify and advise internal stakeholders of contractual risks and recommend strategies to mitigate risks

Contract management activities

• Liaise with internal stakeholders and contract owners to establish commercially effective and compliant agreements

• General maintenance of existing contracts including the management of addendums, contract reviews, renewals and terminations

• Provide guidance and support with respect to third party risk management and third party due diligence activities

• Partner with business stakeholders in third party/vendor performance management activities

• To continually utilize best procurement practices and identify continuous improvement opportunities in the capability of the Group Procurement function

• To seek consolidation of the vendor base through identification of vendor rationalization opportunities and establishment of preferred vendors and strategic partnerships where applicable across the business

• Support compliance to the Procurement Policy and implement initiatives that drive awareness and compliance to the Procurement Policy across the business

Third‑Party Risk Management (TPRM) Integration

• Embed risk assessment throughout the contract lifecycle (onboarding, renewal, termination).

• Work closely with SMEs to assess vendor risks related to cyber threats, data breaches, business continuity, financial health, and operational resilience.

• Collaborate with Risk, Compliance, InfoSec, and Operational Resilience teams to define required controls and monitoring.

Financial & Commercial Management

• Monitor contract spend, forecast future costs, and identify savings or optimization opportunities.

• Benchmark pricing for cloud, software, services, and outsourcing categories to ensure competitiveness.

• Manage renewals proactively (e.g., 6–12 months in advance) to avoid auto‑renewals or unfavourable terms.

Operational Excellence

• Promote procurement best practices, governance discipline, and continuous improvement initiatives.

• Enable broader digital transformation by driving adoption of sourcing automation tools, data‑driven analytics, and supplier performance dashboards.

• Create and maintain category KPIs, spend analytics, and reporting frameworks to enable strategic decision‑making.

 

Core Competences Required:

Strategic & Commercial Acumen

• Ability to develop multi‑year category strategies aligned to technology and business roadmaps.

• Strong commercial judgment and advanced negotiation capability for complex software,  HW, cloud and Professional Services contracts.

• Understanding of technology trends, IT cost structures, commercial levers, and vendor pricing models.

Enterprise Mindset & Business Partnership

• Influences senior IT, Digital, and Business leaders with well‑reasoned sourcing strategies.

• Converts business needs into procurement solutions balancing cost, innovation, speed, and risk.

• Demonstrates cross‑enterprise thinking, ensuring procurement value extends beyond savings into resilience, performance, and capability building.

Contract & Vendor Governance Expertise

• Deep understanding of contract structures (SLAs, KPIs, cybersecurity clauses, regulatory compliance, pricing constructs).

• Skilled in overseeing complex vendor relationships to ensure performance, service continuity, and contractual compliance.

• Strong ability to drive accountability through structured reviews, governance cadence, and performance scorecards.

Risk, Compliance & Regulatory Awareness

• Solid grasp of third‑party risk management (TPRM), especially for critical IT suppliers in a regulated insurance environment.

• Familiarity with data privacy, operational resilience, cybersecurity controls, and outsourcing regulations.

• Ability to integrate risk controls and compliance requirements directly into contracting and supplier oversight.

Education and Experience: 

• 14+ years in IT Procurement

• Bachelors/Masters

• Having worked on similar environments in other Industries/Institutions

Required:

• Proven category ownership across one or more of:

• IT & Digital (software, SaaS, cloud, systems integrators)

• Professional Services (consulting, actuarial, legal)

• Experience building multi‑year category strategies aligned to business growth and transformation

• Demonstrated ability to move procurement from transactional to value‑led

  Commercial & Contracting Expertise

• Deep experience in:

  • Complex commercial negotiations

  • T&Cs, MSAs, SLAs, SOWs

  • Risk, liability, data privacy, and IP clauses

• Demonstrated success delivering:

• Cost savings

• Value protection

• Commercial innovation (outcome‑based pricing, gainshare, etc.)

• Experience working closely with Legal, Risk, Compliance

Vendor & Third‑Party Risk Management

• Experience managing strategic suppliers and critical vendors

• Familiarity with:

  • Third‑party risk frameworks

  • Outsourcing governance

  • ESG, sustainability, and responsible sourcing

• Experience with vendor performance management, QBRs, and remediation planning

• Governance, Policy & Compliance

• Experience designing and enforcing:

  • Procurement policies

  • Delegation of authority

  • Audit‑ready sourcing processes

• Comfortable working in high‑control environments

• Experience supporting internal audit and regulatory reviews

Preferred:

Financial Services / Insurance Industry Experience

• Prior experience in insurance, banking, asset management, or regulated financial services

• Strong understanding of:

  • Regulatory procurement constraints

  • Outsourcing risk

  • Third‑party risk management

• Experience working with actuarial, underwriting, claims, risk, finance, and technology teams

 

Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.