Sourcing Supplier Risk Specialist

MAIN PURPOSE:

• Supplier Due Diligence & Screening Assessments
  
• Supplier Financial Stability Assessments
  
• Annual Supplier SCO Attestations
  
• Conducting
  periodic assurance of suppliers (in collaboration with Absa Group Supplier
  Assurance), including adherence to regulatory requirements, as per the Supplier
  Assurance Standard and Methodology.
  

The role includes
assistance with the management of other supplier risk management controls as
required from time to time.

Responsible for the
review, update and maintenance of Policy & Standards relating to supplier
controls listed above and responsible for compliance to the relevant controls.

Responsible for the development
& implementation of supplier risk processes, guidelines, tools and
enhancement of existing processes, tools, and guidelines.

WFS ownership of
supplier risk assessment tools including e -Casa and Coupa Risk Assess (CRA)

Responsible for compiling
relevant reports (monthly and ad -hoc)

• Supplier Due diligence &
  Screening include the following assessments:
  
• Anti Money Laundering
  
• Sanctions
  
• Political Exposed People
  
• Reputational Risk
  
• Adverse Media
  
• Ultimate Beneficiary ownership
  
• Performing supplier due diligence
  and screening activities for new WFS suppliers before on -boarding.
  
• Perform periodic screening of
  contracted suppliers as per Third Party ABC Standard
  
• Re -screening of suppliers where a
  change in control occurred.
  
• Manage the end -to -end supplier due
  diligence and screening process including stakeholder engagements, escalations,
  and relevant decisions.
  
• Manage the relationship with Absa
  KYV Team to ensure effective completion of Supplier Due Diligence and screening
  assessments.
  
• Manage the relationship with WFS suppliers
  including guidance, training, follow -ups, and instructions.
  

• Supplier Financial Stability
  Assessments to be completed according to the Procurement Policy & Supplier Sourcing
  Standard the Supplier Risk Management Standard and the ABC Standard.
  
• Ensure Financial stability
  assessments are conducted for relevant suppliers before on -boarding.
  
• Ensure Periodic Financial
  Stability Assessment are conducted as per the intervals detailed in Supplier
  management Standard.
  
• Ensure Financial Stability
  assessments are conducted when the control (ownership) of a supplier has
  changed.
  
• Manage the service provider
  responsible for Financial Stability Assessments.
  
• Interpretation and communication
  of FSA outcomes to Business and relevant Executive.
  
• Provide guidance to Business in
  cases where the Financial Standing of a supplier is poor.
  
• Obtain written risk acceptance
  from responsible Exec in cases where the Supplier FS is poor, and Business
  decides to continue the relationship.
  
• Provide inputs to supplier
  contracts to mitigate the financial risk when contracting the suppliers with a
  poor financial standing.
  
• Reporting on FSA outcomes.
  

• Responsible for annual Supplier
  Control Obligations Attestations:
  
• Send SCO attestation document to suppliers annually.
  
• Review attestations and communicate control gaps with Supplier/ Service
  Managers.
  
• Log control gaps and manage remediation of identified gaps.
  
• Liase with WFS Information security with regards to gaps pertaining to
  data privacy and cyber security.
  
• Reporting on SCO attestations, gaps and completed remediations.
  
• Escalate outstanding gaps to the Head of
  Sourcing
  

• On an annual basis select specific
  control obligations for independent assurance testing in collaboration with
  Absa Group Supplier Assurance.
  
• Oversee the assurance testing and
  engage the relevant WFS subject matter experts (SME’s)
  
• Review assurance report, discuss
  outcomes with relevant Execs and agree on remediation plans.
  
• Obtain Exec sign -off on assurance
  report and remediation plan.
  
• Manage
  and report on remediation and close -out.
  

• Ensure in -depth understanding of
  Enterprise Risk Management Framework (ERMF)
  
• Responsible for annual review,
  maintenance, and compliance with Procurement Policy and Standards relating to
  Supplier Risk Management.
  
• Understand, adopt, and implement
  new regulatory requirements relevant to supplier risk management.
  
• Operational Ownership of the
  Third -party ABC Standard. Annual review and inputs to ABC Standard.
  
• Assess supplier risk, identify
  control gaps, develop risk mitigation strategies, escalate risks (where
  required) and monitoring and reporting on supplier risks.
  
• Own, maintain and manage risk
  management/assessment tools – e -Casa and Coupa Risk Assess.
  
• Responsible to implement new CRA
  functionalities/requirements according to Absa requirements.
  
• Identify, prioritise, and pursue
  opportunities to enhance WFS’s supplier risk management processes and introduce
  innovative approaches and solutions to optimise efficiency and effectiveness.
  
• Active participation in Internal and External
  Audit projects.
  

• Direct engagement with Absa
  (Compliance & Fin Crime) & WFS Executives in cases where potential
  suppliers are flagged because of the due diligence & screening assessment.
  
• Collaborate with relevant Absa
  stakeholders to ensure WFS systems, policies, standards, controls, and
  processes are aligned with regulatory and policy requirements.
  
• Responsible for working with WFS
  Operational Risk Management to ensure alignment and compliance to ERMF and ABC
  Standard.
  
• Collaboration with WFS Sourcing
  & BU Supplier Managers to ensure effective contract handover and supplier
  management.
  
• Guide and instruct supplier
  representatives to ensure compliance to WFS control requirements.
  
• Provide training to suppliers where required.
  

Requirements

 MINIMUM QUALIFICATION 

• MinimumNQF level 7 –
  related degree in Risk Management, Sourcing or Project Management
  
• Any other Risk management
  related qualification.  
  

EXPERIENCE REQUIRED

• 5
  years’ experience in Supplier risk management or related risk management field,
  
• 3
  years’ experience in procurement with focus being on roles related to sourcing,
  supplier on -boarding, contracting, continuous improvements projects and process
  automation within procurement/sourcing environment.
  
• 3
  years’ experience in the Financial Services Industry in a procurement or risk
  management role.
  
• Experience
  in Financial statement analysis and interpretation
  
• Sound knowledge and experience of various legal
  entities, company structures and shareholding analysis.
  

• Ability to make decisions based on
  available information.
  
• Ability to work independently and
  take initiative.
  
• Strong Analytical skills
  
• Ability to work in a team.
  
• Strong organisational,
  interpersonal & communication skills.
  
• Solution orientated.
  
• Deadline driven.
  
• A high degree of accuracy and
  attention to detail is essential.
  
• Internal and external senior stakeholder
  engagement.
  
• Problem -solving and analytical
  skills.
  
• Good written and verbal
  communication skills.
  
• Ability to take initiative, be creative,
  and be innovative.
  
• Capacity to learn and think
  critically.
  
• Ability to collaborate and
  influence across multiple stakeholders and within a team environment.
  
• Advanced Excel skills.
  

Woolworths
Financial Services is a proud South African brand, who is committed to
transformation. Meeting our employment equity goals will be taken into account
in our recruitment decisions.