Woolworths Financial Services | Full time Senior IT Sourcing Specialist Cape Town, South Africa | Posted on 02/26/2026 Woolworths Financial Services, or WFS as it is better known, is a Joint Venture with Absa Bank, that supports the Woolworths retail business by providing in-store credit in the form of the Woolworths StoreCard and offering value-added services including credit cards, personal loans and short-term insurance as well as life insurance linked to other products. Job Description Main Purpose Take responsibility and accountability for the development and execution of commercial sourcing solutions aimed at realising significant value for the business whilst reducing risk and enabling business, service, and supplier strategies. Specialist area : Information and Digital Technology including software, hardware, services, and support and maintenance. Responsible for more complex IT requirements with high risk, various stakeholders, integration requirements, high spend, business critical services and systems with cybersecurity and data privacy exposure risk. Managing and influencing multiple internal and external stakeholders per project. Working with other Sourcing Specialists on projects where BU requirements include technology components. This includes: Delivery of all commercial and contractual elements of sourcing initiatives up to contract award ensuring all financial, risk, strategic and commercial considerations are optimised. Own, manage and facilitate the sourcing process from requirement identification to handover of contract to Business upon contract completion. Chair and manage Cross Functional Sourcing Teams (CFST) during supplier selection and contracting processes. Act as a Subject Matter Expert throughout the source to contract cycle. Responsible for effective contract handover to BU supplier/service managers after contract signing. Participate in post-contract supplier risk management activities as per the prescribed Policy & Standards. Implement category/commodity strategies where applicable. Responsible for supplier engagement and leading negotiations during the sourcing and contracting process and annual price negotiations. Working in partnership with Absa Technology Procurement teams to maximise synergies and realise economies of scale. Working with WW ITGRC when required. Work cross-functionally with both internal and external stakeholders to establish and maintain working relations with Absa Group and Woolworths and to provide the required plan to deliver targeted savings. Relationship Management with allocated BU Heads. Engage with WFS Executives and Supplier Senior Management during the source to contract process. Management of Sourcing Lifecycle Ownership and responsibility for the Source-to-Contract Life Cycle including: Procurement planning/forecasting of sourcing requirements for allocated BUs. Facilitate the development of the RFP Terms of Reference (Scope of Work). Conduct market analysis and benchmarking (including pricing). Lead and facilitate cross-functional sourcing teams throughout the Source-to-Contract lifecycle. Manage inputs and deliverables required from internal stakeholders and suppliers. Lead, development and execution of Sourcing Strategies for all assigned initiatives, which invoke a high degree of strategic and/or business risk and value. This would include reviewing different commercial models/options, ensuring alignment with Business and category strategies. Determining evaluation criteria and weightings. RFx compilation and publishing. Engage with supplier representatives on behalf of WFS. Bidder Questions & Answers and/or Bidders conference before RFx closing date. Proposal Evaluations including bidder presentations and demonstrations (if required). Supplier short listing and negotiations. Ensure due diligence and screening is performed on shortlisted suppliers before final selection and recommendation. Supplier selection and recommendation to relevant Execs or Exco. Award and Regret letters. Ensure completion of all pre-contract risk activities has taken place (distributed between ABSA, outsourced services, WFS Risk Management and Sourcing specialist) before contract signing and supplier onboarding. Manage the contracting process. Development of an Exit strategy (if applicable). Contract handover to relevant supplier / service manager in BU. Maintain an audit trail during the RFx process. Responsible to collect & save all documents during the RFx process and ensure safekeeping and destruction as per the Records Management & Retention & Destruction Standard (POPIA). Manage and register deviations and facilitate Motivation for Deviation process and COE approval. Ensure compliance with Third Party Risk Management, Sourcing and Supplier Management Policies, Standards and guidelines. Responsible for the incorporation of BBBEE strategies and ensure the requirements of the Supplier Diversity Standard are incorporated throughout the Source-to-Contract lifecycle. Negotiate BBBEE Transformation Plans for suppliers not meeting the minimum BBBEE Level. Incorporate the Transformation Plan to the contract. Liaise with Absa/Woolworths Sourcing teams to maximize synergies and realise economies of scale. Effectively manage supply side dependencies and interactions up to executive level throughout the sourcing life cycle internally with clients and colleagues and externally with suppliers. Responsible for specified post-contract supplier management activities and participation in annual contract reviews as per the relevant Policy & Standard. Escalate high risk and contentious issues to the Sourcing Manager for resolution. Engage with Supplier Risk Screening specialist to ensure Due diligence and screening requirements (as per the relevant Standards) are completed after short listing but before contract signing. Assist the screening specialist to address issues experienced with suppliers during the due diligence process if necessary. Responsible to facilitate segmentation (IRA) to determine Inherent Risks associated with the service, risk rating of the service and the requirement for inputs/ approval from SMEs (Legal, Finance, Tax, Infosec and Regulatory). From the Inherent Risk assessment identifying relevant Supplier Control Obligations to be incorporated to the Supplier contract. Identify, document (risk register) and resolve risks during the sourcing process. Include unresolved risks to contract handover document deck. Ensure governance and regulatory requirements and approvals are met before contract signing. This includes Cloud Committee approvals and Budget/Business case/Value Case approvals. Ensure sourcing is in line with organisational and external governance, (i.e. Internal Audit, FAIS, FICA, BEE rating and compliance adherence). Ensure a sound risk framework is adhered to in terms of all new and existing sourcing projects and contracts, i.e. that it is in alignment with WFS and ABSA policies and legislative governances. Responsible for implementation of revised and new Policies & Standards. Contracting Delivery of all commercial and contractual elements of major sourcing initiatives up to contract award ensuring all financial, strategic and commercial considerations are optimised and potential risks are identified and documented. Facilitate compilation and agreement between Business and Supplier of Service Level Agreements (SLA’s) to be included to the supplier contract. Responsible for contract negotiations (including commercial), contract compilation, resolving contract mark-ups and review of contract mark-ups and engagement with Legal, Risk and other stakeholders where applicable. Responsible for contract finalisation. This applies to Variation Agreements, Renewals and new requirements. Include relevant SCOs to supplier contracts and address and resolve supplier mark-ups to the SCO’s. Engage with SMEs for resolving SCO mark-ups. Perform Supplier Annual Attestation of relevant SCO’s before contract approval & signing Obtain Business risk acceptance for accepted deviations from material contract clauses. Facilitate the compilation and signing of the Legal Risk Report (LRR) if applicable. Obtain contract approvals as per the WFS Board authority levels and assist with the compilation of Board resolutions where required. Facilitate compiling, socialising and submission of Board Memorandums for projects where a Board resolution is required. Ensure the Board resolution is signed before contract finalisation. Compile a Contract Obligation Tracker and hand-over to the supplier manager in the BU during contract handover. This includes SCO actions, transformation plans and key contract obligations of WFS and the supplier. Responsible for effective handover appropriate documentation to the appointed BU Supplier Manager after the completion of the Sourcing process. Ensure Contract Handover document is approved by Executive. Responsible for contract renewals, Variation Agreements and compiling new FoOs. Maintaining Contract Register and action contracts nearing expiry dates. Send contract updates to allocated BUs monthly and manage potential contract breaches. Escalate delays in contract renewals to the relevant Executive as per the contract expiry matrix. Manage the breach process. Responsible for contract terminations and provide support to Supplier manager in BU during supplier exit. StakeholderManagement Work cross-functionality to establish and maintain working relations with other parts of business to deliver in the role – typically up to and including senior and executive leadership level. Act as the commercial lead on major business sourcing initiatives translating strategy into executable plan, educating and guiding wider business team on commercial issues and leading subsequent execution and management of other commercial resources (e.g. Accounting, Tax and Legal experts). Responsible for relationship management with allocated Business Units. This includes: Understanding the BU value chain, operating plans, strategic initiatives and supplier requirements. Attending allocated BU’s LT meetings at least once a month. Standard meetings with key stakeholders monthly or bi-monthly. Review sourcing requirements (demand) with BU quarterly and adjust inputs to the annual Procurement plan. Act as Sourcing Partner. Receive and allocate/execute/advise all sourcing related requirements from allocated BU’s. Advise on appropriate supplier selection mechanism. Responsible for relationship building and management with process stakeholders including Legal, Finance, Infosec, WFS Risk & Compliance. Responsible for relationship building & management with counterparts at Absa Technology Procurement and other Absa Business Areas. Responsible for alignment with WW ITGRC. Initiate Oracle on-boarding of newly appointed suppliers. Participating in Sourcing workshops and stakeholder training. Manage the production of value-added reporting which will help business to comply with Sourcing policy. Annual Spend analysis to extract efficiencies in 3rd party supplier spend. Responsible for: Supplier Spend reporting & analysis Weekly Project updates to project owners Adhering to project specific TurnAround times (TAT) Identification, capturing and realising of cost savings, avoidance and optimisation ideas Continuously seek to improve WFS sourcing processes and procedures and communicate changes to relevant stakeholders and business unit leaders. Stay abreast with Sourcing trends, what is in the market, relevant legislation and events in the sourcing and/or procurement industry. Provide support and guidance to junior sourcing specialists in the team. Requirements Qualifications Minimum: 3-year university business degree or National Diploma or a MCIPS qualification Preferred: Project management Business or IT degree/qualification. Membership of the Chartered Institute of Purchasing and Supply and a CIPS qualification (Level 4 completed or studying towards a CIPS qualification). Experience Minimum: Minimum of 8 years' sourcing management experience at least 3 years sourcing experience with Information and Digital Technology commodities of at least 3 years sourcing experience in the Financial Services Industry. Strong IT background and IT experience. In-depth experience and successful record in commercial negotiations, managing complex RFx processes and third-party risk assessment and management. Sound track record of internal and external stakeholder management including senior and executive leadership level. Preferred Up to 10 years sourcing management experience across various sourcing commodities of which 5 years sourcing experience within the Information and Digital technology category. At least 3 years of the Sourcing experience must be in the Financial Services Industry. At least 3 years’ operational experience in the Information and Digital Technology space. At least 3 years’ experience across the sourcing value chain – demand planning pre and post contract risk management, preferential procurement, contracting & supplier management. Understanding of the Financial Services value chain and Regulatory Framework Experience in the development and implementation of category/commodity strategies and strategic sourcing process Intermediate level of experience and understanding of material legal terms & conditions Additional Requirements Problem solving and analytical skills. Excellent written and verbal communication skills. Financial and commercial management and expertise – life cycle costing calculations, identification of cost drivers and cost and income contribution. Strong project and time management skills to be able to complete projects effectively to deadlines (SLA’s) and manage multiple projects simultaneously. Possess high degree of initiative, creative, innovative, proactive skills and abilities. Proven ability to collaborate and influence across multiple stakeholders and within a team environment. Relationship management skills at senior level within WFS and Supplier entities A motivated self-starter with a high energy level. Accuracy and attention to detail. Proven ability to work as a team player to ensure effective delivery of reporting, tasks, projects and any other related deliverables. #J-18808-Ljbffr