Procurement Manager

Lloyd's; City Of London; Hybrid; GBP 80,000 - 100,000; Full time

Job summary

A leading global insurance marketplace in London seeks a Procurement professional to support their strategy and manage supplier relationships. The role involves leading sourcing activities, negotiating contracts, and developing category strategies to drive financial savings. Candidates should have strong commercial acumen, negotiation skills, and the ability to collaborate with senior stakeholders. Emphasizing diversity, this position offers a balance of office and flexible working options, along with comprehensive benefits.

Benefits

Generous pension

Healthcare benefits

Flexible working options

Employee recognition scheme

Training and development support

Qualifications

• Strong business acumen and negotiation skills.
• Ability to build collaborative sourcing plans.
• Experience in managing supplier relationships effectively.

Responsibilities

• Support development and delivery of category strategies.
• Lead sourcing activities to achieve financial savings.
• Negotiate contracts to ensure service and quality.
• Manage supplier relationships and ongoing negotiations.

Skills

Commercial Acumen

Business partnering support

Influencing senior stakeholders

Negotiation skills

Supplier relationship management

Job description

Lloyd’s is the world’s leading insurance and reinsurance marketplace. We share the collective intelligence and risk sharing expertise of the market’s brightest minds , working together for a braver world.

Our role is to inspire courage, so tomorrow’s progress isn’t limited by today’s risks.

Our shared values: we are brave; we are stronger together; we do the right thing; guide what we do and how we act. If you share our values and our passion to build a future that’s more sustainable, resilient and inclusive, you’ll find a home at Lloyd’s – build a braver future with us.

The Role

To support the Procurement Delivery Lead in achieving agreed objectives in line with the procurement strategy, providing a commercial procurement category management function for all spend categories with external suppliers.

Principal Accountabilities

• Supporting the development and delivery of category strategies
• Lead complex sourcing activities which generate benefits and achieve financial savings targets through insight and analysis of category and sub categories areas
• Development of savings opportunities and benchmarking of industry standards and practices to identify quick win opportunities.
• Preparation of pre tender and tender documents in conjunction with key stakeholders
• Use leading practice procurement tools to develop and implement the sourcing strategies including:
• Supply market positioning
• Supply base profiles
• Supplier assessment
• Supplier financial analysis
• Request For Information (RFI), Request For Proposal (RFP),
• Request for Quotation (RFQ)
• Service level agreements
• e Auctions
• Summary of quotations
• Cost analysis
• Objective decision making
• Negotiate contractual agreements with suppliers to ensure that service, quality, added value, total cost, security of supply and the deployment of the suppliers capabilities in innovation are secured
• Manage and develop supplier relationships and ongoing negotiations, for the procurement category and sub categories
• Negotiation of complex contracts within a regulatory environment

Skills

• Commercial Acumen
• Providing business partnering support across procurement related activity
• Influencing senior stakeholder and building collaborative sourcing plans
• Negotiating and influencing skills at all levels
• Sourcing and supplier relationship management skills

Diversity and inclusion are a focus for us – Lloyd’s aim is to build a diverse, inclusive environment that reflects the global markets we work in. One where everyone is treated with dignity and respect to achieve their full potential. In practice, this means we are positive and inclusive about making workplace adjustments, we offer regular health and wellbeing programmes, diversity and inclusion training, employee networks, mentoring and volunteering opportunities as well as investment into your professional development. You can read more about diversity and inclusion on our website.

We understand that our work/life balance is important to us all and that a hybrid of working from the office and home can offer a great level of flexibility. Flexible working forms part of a total reward approach which offers a host of other benefits over and above the standard offering (generous pension, healthcare, wellbeing etc). These include financial support for training, education & development, a benefit allowance (to spend on our flexible benefits such as gym membership, dental insurance, extra holiday or to partake in our cycle to work scheme), employee recognition scheme and various employee discount schemes.

By choosing Lloyd's, you'll be part of a team that brings together the best minds in the industry, and together with our underwriters and brokers, we create innovative, responsive solutions allowing us to share risk and solve complex problems.