Commodity Specialist - Insurance at Nedbank

Job Purpose

• As part of our Procurement team, you’ll help shape smarter ways of working with suppliers and internal teams. You’ll be involved in everything from analysing trends to improving processes and building strong relationships. Your work will directly support Nedbank’s goals for transformation, innovation, and sustainability.

Job Responsibilities
Strategic Sourcing & Vendor Management:

• Identify and onboard suppliers aligned with short-term insurance needs. 
• Maintain supplier relationships and ensure compliance with B-BBEE and regulatory requirements. 
• Conduct supplier audits and manage documentation (BEE certificates, liability insurance, etc.). 

Procurement Operations 

• Monitor and update supplier records and contracts. 

Compliance & Governance 

• Ensure procurement activities adhere to internal policies and industry regulations. 
• Track and report on sourcing compliance and take corrective actions where needed. 

Cost Optimisation 

• Propose cost-saving initiatives. 
• Benchmark pricing and negotiate favourable terms with suppliers. 

Stakeholder Engagement 

• Collaborate with Claims, Assessing, and Service Providers. 
• Attend regular meetings with business units to align Procurement strategies. 

Reporting & Documentation 

• Maintain accurate records of supplier communications and procurement activities. 
• Prepare reports on spend analysis, supplier performance, and compliance metrics. 

People Specification

• Strong negotiation and communication skills 
• Attention to detail and analytical thinking 
• Ability to manage multiple priorities and meet deadlines 
• Proficiency in Microsoft Office (especially Excel) 
• Team player with a proactive mindset 
• Understanding of procurement governance and risk management 

Essential Qualifications - NQF Level

• Advanced Diplomas/National 1st Degrees

Preferred Qualification

• National Diploma, CIPS or Degree in Procurement, Supply Chain, or Business Administration. 

Essential Certifications
Minimum Experience Level

• 3–5 years’ experience in procurement within the insurance or financial services sector.

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