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Commodity Specialist



Randburg, ZA

Date:  08-Apr-2021

Job Classification

Location: 135 Rivonia Campus, Sandton

Requisition and Talent Acquisition Contact Details

REQ: 107686 - Refilwe Falatsi

Closing Date: 19 April 2021


Wealth Cluster - Nedbank Insurance Division

Functional Area: Operations

Job Family

Administration, Operations and Facilities

Career Stream

Procurement and Vendor Management

Leadership Pipeline

Manage Self: Technical

Job Purpose

To analyse; identify; source; negotiate and manage the procurement process while mitigating risks and ensuring regulatory compliance and develop and implement commodity strategies aligned with Groups strategy and build relationship with stakeholders.

Job Responsibilities

  • Analyse trends by reviewing management information.
  • Assisting stakeholders with budget forecasting by providing commodity information.
  • Identifying opportunities to develop sourcing strategy that will result in cost saving by benchmarking and negotiating with internal and external stakeholders.
  • Ensure that preferential procurement BBBEE targets are aligned to the Financial Sector Charter (FSC) as determined by the Department of Trade and Industry code of good practice.
  • Contribute to a culture conducive to the achievement of transformation goals by participating in Nedbank Culture building initiatives.
  • Participate and support corporate social responsibility initiatives for the achievement of key business strategies.
  • Identify and recommend opportunities to enhance processes; systems and policies and support implementation of new processes; policies and systems.
  • Develop and maintain policies by understanding and collaborating with stakeholders to determine practical processes.
  • Mitigating risks by ensuring that policies and regulatory and industry governance requirements are adhered to.
  • Selection of preferred suppliers by conducting a tender or quotation process.
  • Drafting and signing of contracts by liaising with Group Legal and stakeholders.
  • Ensuring SLA's are met through end to end management of the contract (includes supplier relationship and performance management).
  • Measure local procurement and environmental objectives against Nedbank's transformational objectives by conducting surveys or reviewing management information.
  • Identifying business requirements by engaging with internal stakeholders to understand business needs.
  • Collaboration with stakeholders to implement the sourcing strategy by coordinating workshops; presentations and meetings.
  • Exchange of information between stakeholders to achieve the procurement objective by sharing management information.
  • Manage and maintain internal and external stakeholder relationships by conducting regular engagements. Keep abreast of legislation and other industry changes that impacts on role by reading the relevant newsletters; websites and attending sessions.
  • Understand and embrace the Nedbank vision and demonstrate the values through interaction with team and stakeholders.
  • Improve personal capability and stay abreast of developments in field of expertise by identifying training courses and career progression for self through input and feedback from managers.
  • Ensure personal growth and enable effectiveness in performance of roles and responsibilities by ensuring all learning activities are completed; experience practiced and certifications obtained and/or maintained within specified time frames.
  • Ensure information is provided correctly to stakeholders by maintaining knowledge sharing knowledge with team.

People Specification

Essential Qualifications - NQF Level

  • Advanced Diplomas/National 1st Degrees

Preferred Qualification


Type of Exposure

  • Working with a group to identify alternative solutions to a problem.
  • Managing conflict situations
  • Sharing information in different ways to increase stakeholders understanding
  • Comparing two or more sets of information
  • Review cost against a budget
  • Capturing data
  • Building and maintaining effective relationships with internal and external stakeholders
  • Managing customer expectations
  • Interacting with suppliers
  • Working in a fast-paced environment

Minimum Experience Level

3 years' experience within the Short-Term Insurance procurement space (preferably Non-Motor / Home Owners).

Technical / Professional Knowledge

  • Administrative procedures and systems
  • Banking knowledge
  • Banking procedures
  • Business principles
  • Business terms and definitions
  • Data analysis
  • Relevant regulatory knowledge
  • Relevant software and systems knowledge
  • Governance, Risk and Controls

Behavioural Competencies

  • Decision Making
  • Continuous Improvement
  • High-Impact Communication
  • Managing Work
  • Sustaining Customer Satisfaction
  • Technical/Professional Knowledge and Skills

Preference will be given to individuals from underrepresented groups.


Please contact the Nedbank Recruiting Team at +27 860 555 566


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