Procurement Specialist

acinrecruit; Greater London; Hybrid; GBP 42,000 - 62,000; Full time

Benefits offered by this job

Bonus scheme

Private medical insurance

Life assurance

Income protection

Pension contribution 10%

Flexible working

Job summary

Insurance Ltd in London is seeking a Procurement Specialist to support supplier sourcing, contract management and governance within a premier insurance business.

You will help achieve value for money, improve purchasing compliance and manage supplier risk, owning contract systems and driving negotiations, renewals and improvements. Occasional UK travel may be required.

Qualifications

• Relevant experience in procurement, supplier management or contract management.
• Understanding of IT software and services contracts and terms.
• Experience preparing RFPs/RFIs, supporting negotiations and approvals.
• Knowledge of supplier due diligence, risk management and governance.
• Awareness of FCA and ICO requirements related to purchasing and suppliers.
• Strong analytical skills and ability to generate reporting.
• Proficient in Excel, Word and procurement systems.

Responsibilities

• Take ownership of the contract management system and keep supplier records complete and accessible.
• Maintain procurement databases, administer access and test system updates.
• Support sourcing and renewal activity, including RFIs/RFPs.
• Manage contract negotiations and obtain internal approvals per policy.
• Oversee supplier relationships, governance reviews and renewals/terminations.
• Conduct supplier due diligence and manage risk and controls.
• Produce management information on spend, data quality and renewals.
• Identify cost-saving opportunities and automate manual processes.
• Draft and review procurement policies, procedures and templates.
• Advise stakeholders on purchasing needs and compliance.
• Coordinate queries, chair meetings and drive projects to outcomes.
• Support colleagues with guidance and coverage for operations.

Skills

Procurement

Supplier management

Contract management

Data analysis

Excel

Communication

Stakeholder management

Tools

Procurement software

MS Office

Job description

Title:Procurement Specialist
Location: London / Hybrid — typically 2–3 days in the office
Salary Range: Competitive salary plus bonus and benefits
Reporting to: Procurement Manager
Type: Permanent, full-time — flexible working arrangements considered

Overview

An opportunity for a Procurement Specialist to support supplier sourcing, contract management and procurement governance within an established insurance business.

You will help the business achieve value for money, improve purchasing compliance and manage supplier risk. The role combines ownership of contract management systems with practical involvement in negotiations, renewals, supplier relationships and process improvement.

This position offers autonomy, exposure to senior stakeholders and opportunities to develop your procurement expertise. Occasional UK travel may be required.

Key Responsibilities

• Take ownership of the contract management system, ensuring supplier agreements, metadata and records are complete, accurate and accessible.

• Maintain procurement databases and due diligence tools, administer access and support testing of system updates.

• Support sourcing and renewal activity for goods and services, including preparing requests for information and proposals.

• Manage contract negotiations and coordinate internal approvals in line with purchasing policies and delegated authority requirements.

• Manage designated supplier relationships, facilitate governance reviews and coordinate renewals and terminations.

• Undertake supplier due diligence, identify key risks and maintain appropriate records and controls.

• Support supplier contract reviews associated with acquisitions and integration activity.

• Produce management information covering supplier spend, data quality, risk and upcoming renewals.

• Identify opportunities to reduce costs, improve value and automate manual processes.

• Create, maintain and review procurement policies, procedures, working instructions and templates.

• Advise business stakeholders on purchasing requirements, supplier selection and procurement compliance.

• Coordinate purchasing queries, chair stakeholder meetings and manage projects through to agreed outcomes.

• Support colleagues through guidance, coaching and cover for operational activities.

What We’re Looking For

• Relevant experience in procurement, supplier management or contract management.

• A good understanding of IT software and services contracts, including commercial terms and contractual requirements.

• Experience preparing RFPs and RFIs, supporting negotiations and managing approval processes.

• Understanding of supplier due diligence, risk management and procurement governance.

• Awareness of FCA and ICO requirements relevant to purchasing and supplier arrangements.

• Strong analytical skills and attention to detail, with the ability to interpret information and produce useful reporting.

• Confident use of Excel, Word, Outlook and procurement or contract management systems.

• Effective communication and relationship management skills, including engagement with senior stakeholders and external suppliers.

• The ability to work independently, prioritise competing demands and meet deadlines.

• A practical approach to problem solving, root-cause analysis and continuous improvement.

• A collaborative working style and willingness to support the development of colleagues.

Desirable but Not Essential

• Procurement experience within insurance or another regulated financial services environment.

• Exposure to supplier contract reviews during acquisitions or business integration.

• Experience improving or automating procurement workflows.

• Familiarity with supplier credit and sanctions screening tools.

• Experience leading procurement projects or coordinating stakeholders across multiple locations.

About the Company

An established specialty insurance business with a collaborative, inclusive culture and a strong focus on professional development. The organisation is investing in efficient operations, effective supplier governance and sustainable growth, offering opportunities to contribute to improvements across the business.

Benefits include a bonus scheme, private medical insurance, life assurance, income protection and an employer pension contribution of 10% when the employee contributes 5%. Flexible working arrangements, including reduced hours and job sharing, will be considered.