Sourcing and Supplier Relationship Manager

PIC; City Of London; On-site; GBP 60,000 - 80,000; Full time

Job summary

A financial services company in London seeks a Sourcing and Supplier Relationship Manager to enhance procurement strategies and manage supplier relationships. Responsibilities include developing data-driven sourcing strategies, driving cost savings, and optimizing procurement processes. Candidates need strong knowledge of supplier management and proven experience in similar roles. Competitive salary plus benefits offered.

Benefits

Private medical insurance

28 days annual leave

Study support for qualifications

Generous pension scheme

Qualifications

• Proven track record of driving cost savings and supplier performance improvements.
• Demonstrable experience of creating a culture of innovation and collaboration within the supply chain.
• Proven track record of using data-driven strategies to make informed decisions.

Responsibilities

• Develop and implement sourcing strategies for procurement.
• Manage supplier relationships and ensure cost-effective procurement.
• Conduct thorough analysis of supply chain and key procurement metrics.

Skills

Supplier sourcing and management strategies

Third-party selection and due diligence processes

Contract negotiation with suppliers

Category management techniques

Supply chain resilience and ESG credentials

Education

Recognised qualification in supply chain management or business administration

Tools

Procurement software/tools

Job description

Pension Insurance Corporation (“PIC”) provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. Our purpose is to pay the pensions of our current and future policyholders. We achieve our purpose by setting Companywide strategic objectives and driving a healthy culture based on our PIC Values of Resilient, Adaptable, and Loyal.

Role purpose

• The TP&O function plays a critical role in enhancing efficiency, reducing costs, mitigating risks, and driving value across the entire organization. This is achieved by looking for cost savings through negotiating favourable terms and optimising processes to eliminate inefficiencies and reduce cycle times.
• The TP&O function actively manages relationships with suppliers ensuring risks are assessed, mitigated and managed in accordance with relevant laws, regulations, and internal policies. TP&O champion data driven decision making by driving strategic initiatives that value to PIC.
• Roles within TP&O are designated relationship owners partnering with the various teams and functions at PIC to deliver robust third party and supplier lifecycle from due diligence to selection to onboarding to renewal or exit processes.

• Our Company values are expected to be reflected in the delivery and performance of every role.

Relationship Owner - The role assumes accountability as a Relationship Owner of third party and supplier relationships by proactively assessing and applying robust processes throughout the relationship lifecycle.

Cost savings - The role will be responsible for developing and implementing sourcing strategies, managing supplier relationships, and ensuring the timely and cost-effective procurement of goods and services.

Data driven decision making - The role requires effective collaboration internally and externally to analyse and interpret data and make recommendations to develop/improve our systems, processes, and technology, as appropriate.

Specific accountabilities assigned to the role of Sourcing and Supplier Relationship Manager within the Business Services function:

• Conducts thorough analysis of PIC’s supply chain, third parties and all associated data.
• Responsible for the successful development and delivery of sourcing strategies to optimize procurement processes and achieve cost savings through tender activities, negotiating contract terms and ensuring favourable pricing, quality standards, and delivery.
• Conducts thorough analysis and reports on key procurement metrics to track cost savings, supplier performance, and other performance indicators ensuring that data-driven decision making can identify opportunities for improvement and drive strategic initiatives to optimize TP&O activities.
• Effectively collaborates across the business with a range of key business users and other stakeholders, including Legal, Finance and Enterprise Architecture,
• Takes ownership for their own learning and development in both technical (e.g. data analysis and critical judgement) and non-technical (self-insight and relationship management) skills of TP&O.
• Keeps informed of industry trends, market developments, regulatory changes in the public and private sectors, as well as best practices related to Procurement by attending industry seminars, reading and sharing relevant published articles.

Knowledge

• Strong knowledge of supplier sourcing and management strategies
• Strong knowledge of third-party selection and due diligence processes
• Strong knowledge of contract negotiation with suppliers and achieving economies of scale
• Good knowledge of category management techniques, including how to analyse spend data, understand market dynamics, and develop category plans that optimize value for the organisation
• Knowledge of supply chain resilience and ESG supplier credentials.

Experience

• Recognised qualification or strong employment record of supply chain management, business administration, or a related field.
• Proven track record of driving cost savings and supplier performance improvements.
• Proficient user of procurement and sourcing software/tools
• Demonstratable experience of creating a culture of innovation and collaboration within the supply chain.
• Proven track record of using data driven strategies to make informed decisions to optimise TP&O activities and corporate initiatives.

In addition to a competitive base salary and the opportunity to participate in our annual, performance-related bonus plan, upon joining us here at Pension Insurance Corporation, you will get access to some great benefits, including private medical insurance, 28 days\' annual leave (excluding bank holidays), study support with qualifications, a generous pension scheme and much more.