Risk Management Lead

Mib Last; King's Walden; Hybrid; GBP 100,000 - 125,000; Full time

Job summary

A leading insurance organization is seeking a Procurement and Third-Party Management Lead to deliver first-class services and manage high-risk third-party relationships. The role includes conducting supplier performance reviews, leading procurement processes, and partnering with stakeholders for effective sourcing. The position is hybrid, requiring 2 days per week in the office, and offers a start-up allowance along with various benefits for overall well-being and work-life balance.

Benefits

Start-up allowance

Hybrid working

Contributory pension scheme

Life assurance

Employee Assistance Programme

Enhanced leave policies

Qualifications

• Experience in procurement and third-party management in a fast-paced organization.
• Strong influencing skills with proven ability to negotiate results.
• Collaboration with senior stakeholders in the insurance or financial services sector is a plus.

Responsibilities

• Deliver procurement services to meet the needs of the organization.
• Support management of critical third parties in line with TPRM framework.
• Lead procurement activity from sourcing to contracting and onboarding.

Skills

Stakeholder management

Negotiation

Procurement

Third-party management

Job description

Job Title

Procurement and Third‑Party Management Lead – Milton Keynes

Location & Employment

Milton Keynes, UK
Permanent – £320 before tax & a start‑up allowance. Hybrid working: 2 days a week in office.

Overview

About MIB: Last year we helped more than 34,000 people struck by uninsured and hit‑and‑run drivers and paid over £400 million in compensation to support victims rebuild their lives. MIB seeks a Procurement leader to deliver first‑class services, manage high‑risk third‑party relationships, and drive procurement excellence across assigned business areas.

Responsibilities

• Deliver procurement services to assigned business areas that meet the needs of MIB.
• Support the management of third parties—especially critical and high‑risk ones—in line with the TPRM framework.
• Lead the implementation and ongoing operation of the TPRM framework, providing a comprehensive risk‑management approach.
• Develop and maintain the Procurement and Third‑Party Management policy framework, ensuring documentation is reviewed and updated.
• Develop and deliver TPRM training materials, workshops, and training sessions across the business.
• Partner with Third‑Party Accountable Executives (TPAE) and Third‑Party Relationship Owners (TPRO) to define a collaborative sourcing and ongoing management approach.
• Lead end‑to‑end procurement activity—sourcing approach, pre‑qualification, tender, negotiation, contract preparation, due diligence, onboarding, renewals, and off‑boarding.
• Work with Legal to draft contractual documents that contain adequate commercial structure, required clauses, and performance criteria that drive delivery aligned with business needs.
• Provide third‑party management support to TPROs and TPAEs in line with the TPRM framework, including lighter‑touch support for medium and low‑risk engagements and full ownership for critical and high‑risk engagements.
• Conduct supplier introductory meetings, performance reviews, monitor supplier performance against KPIs and SLAs, identify improvement areas, and manage performance issue resolution, improvement actions, and exit planning.
• Deliver cost‑reduction, efficiency, and value opportunities through procurement and third‑party management activities.
• Provide SME inputs, strategic commercial advice, and challenge at a senior leadership level.
• Offer peer‑to‑peer guidance, challenge, and support to the central team in delivering procurement services and support.
• Work with Finance partners to produce accurate budgets, forecasts, and supplier spend analysis.
• Build and maintain an external network of procurement and third‑party contacts to develop category expertise, market insight, and commercial power.
• Identify and implement process and system enhancements to drive procurement maturity and continuous improvement.

Qualifications

• Procurement and third‑party management experience in a fast‑paced organisation.
• Strong influencing and stakeholder management skills, with a proven ability to build constructive relationships with suppliers, negotiate to deliver results, enforce contractual obligations, and achieve cost savings.
• Highly credible, collaborative team member, comfortable challenging and establishing trust with senior stakeholders.
• Sector experience in insurance and/or financial services is highly desirable.

Benefits

• Start‑up allowance.
• Hybrid working – 2 days in the office per week.
• Contributory group stakeholder personal pension scheme.
• Life assurance.
• 2 days holiday (plus public holidays) and holiday purchase scheme.
• 24/7 Employee Assistance Programme.
• Free access to online tools for mental and physical health.
• Enhanced maternity, paternity, and adoption leave.