Head of Procurement at Fairmoney Microfinance Bank

FairMoney is the leading digital lending platform in Nigeria. In 2020, we disbursed 40% more than the next competitor. We have continued to scale quickly and prudently culminating in our closing of our $42 million Series B Equity round. Due to our growth, we are scaling our Capital Markets team to further drive an ambitious local currency debt fundraising program. You will be joining an innovative and ambitious team that recently closed a Fintech Private Note with leading investment banks acting as Arrangers to the offer. We have plans to continue to offer debt investors a range of innovative solutions to enable them to provide FairMoney, a fast-growing yet prudent fintech with debt funds. This is where you come in.

We are recruiting to fill the position below:

Job Title: Head of Procurement

Location: Lagos
Employment Type: Full-time

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
Key Qualifications & Experience:

• 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.

Benefits

• Private Health Insurance
• Pension Plan
• Paid Time Off
• Training & Development.

Application Closing Date
Not Specified.