Procurement and Vendor Manager

Pacific Life Re; City Of London; On-site; GBP 70,000 - 90,000; Full time

Job summary

A leading financial services company in London is seeking a Procurement and Vendor Manager. This role involves managing vendor relationships, negotiating contracts, and ensuring compliance. The ideal candidate has 8+ years of experience in contract management, strong analytical and communication skills, and the ability to monitor vendor performance effectively. Benefits include competitive leave, healthcare, and wellness options.

Benefits

25 days of annual leave

Comprehensive private insurance

Subsidized gym membership

Qualifications

• 8+ years of experience in contract and vendor management, preferably within financial services.
• Strong knowledge in contract negotiation and vendor relationships.

Responsibilities

• Oversee the end-to-end procurement process.
• Manage vendor contracts and ensure compliance with company policies.
• Monitor vendor performance against SLAs and KPIs.

Skills

Contract and vendor management experience

Analytical and problem-solving skills

Strong communication abilities

Attention to detail

Education

Contract related certification preferred – IACCM and/or CIPS

Job description

Overview

Job Title: Procurement and Vendor Manager

Role: We are currently seeking to recruit a Procurement and Vendor Manager to join our Global Technology Services (GTS) team in London. This role involves commercial management of projects, monitoring third party performance, negotiating contracts, and mitigating risks. The Procurement and Vendor Manager is responsible for managing contracts and relationships with third party vendors to ensure compliance, cost efficiency and alignment to the business objectives.

Responsibilities

• Oversee the end-to-end procurement process, from requisition to payment
• Develop, issue and manage Requests for Proposal (RFPs)
• Develop, review, negotiate and manage vendor contracts in accordance with company policies
• Ensure contract terms align with business objectives and mitigate risks effectively
• Work closely with business teams to understand the appropriate terms and conditions of contracts
• Ensure that contract requirements are resolved in appropriate timeframes
• Collaborate effectively with legal, risk and finance teams to ensure compliance to company policy and procedures
• Continuous review and monitoring of contract changes and identify gaps and improvement opportunities
• Monitor vendor performance against SLAs and KPIs
• Conduct regular vendor reviews to ensure adherence to contract terms and company guidelines
• Build strong relationships with vendors to enhance service quality, cost effectiveness and continuous improvement
• Drive process improvements to enhance operational efficiencies and reduce vendor related risks
• Undertake other responsibilities as required for the proper performance of the role

Skills / Experience

Essential

• 8+ years of experience in contract and vendor management, preferably within the financial services sector
• Strong knowledge and experience in contract and vendor life-cycle management, contract negotiation and managing vendor relationships
• Excellent analytical, problem solving and decision-making skills
• Strong communication and stakeholder management abilities
• Exceptional attention to detail

Desirable

• Experience of specific re-insurance industry would be desirable but other industries would be considered.
• Contract related certification preferred – IACCM and/or CIPS

Personal Characteristics

• Collaborates well with all levels of management and employees
• Good Communicator – succinctly communicates product vision to all stakeholders in a compelling and effective way
• Data Driven – values evidence, research and customer feedback
• Decisive – makes effective customer centric decisions
• Flexible – adapts and thrives under change and ambiguity in an independent and flat structure
• Excellent internal customer service and communication skills
• Ability to understand and communicate data design and patterns to non-technical audiences
• Ability to work in a fast-paced environment with multiple priorities
• Ability to produce accurate work under pressure with frequent deadlines
• Demonstrate critical thinking and analytical skills with attention to detail
• Excellent problem-solving skills, with the ability to work independently and collaborating with others
• Ability to exercise confidentiality and professionalism in the performance of duties

Working For Pacific Life Re

We value the unique qualities our global team brings and support their ambitions. We work under pressure, strive for achievement, and also foster opportunities to connect, relax and collaborate. We provide a healthy work-life balance with employee benefits, social activities and wellbeing initiatives, and support community involvement through fundraising, volunteering and charitable activities.

Benefits (For Permanent and Fixed Term Employees)

Leave

• 25 days of annual leave with option to buy/sell more days
• Adoption and fertility leave
• Generous enhanced parental leave

Healthcare

• Comprehensive private insurance coverage for employee and dependents
• Group Life Insurance Coverage of 9x basic annual salary and Group Income Protection up to 75% of basic annual salary
• Optical benefits

Savings & Retirement

• 15% combined employee/employer contributions

Wellness

• Subsidized gym membership
• Access to Employee Assistance Program
• Cycle to Work and Electric Car Salary Sacrifice Scheme
• Time off for volunteering
• Charitable matching of employee donations

Diversity and inclusion: We provide reasonable adjustments during the recruitment process to ensure equal access to applicants with disabilities. Please contact us about your needs so that we can discuss suitable adjustments where possible.

Pacific Life Re Values

View our company values through the provided link.