Sourcing and Supplier Relationship Manager

Pension Insurance Corporation plc; Greater London; On-site; GBP 60,000 - 90,000; Full time

Benefits offered by this job

Private medical insurance

Generous pension scheme

28 days annual leave

Job summary

Pension Insurance Corporation plc is seeking an experienced sourcing professional to enhance value through strategic procurement. You will lead sourcing strategies, negotiate contracts and manage supplier relationships across the lifecycle to deliver cost savings and compliance.

The role requires data-driven decision making, strong stakeholder influence, and a proven ability to work within financial services regulation. A comprehensive benefits package accompanies a competitive base salary.

Qualifications

• Understanding of regulatory frameworks (FCA/PRA) relevant to financial services.
• Experience in sourcing strategies to optimise procurement processes.
• Track record of delivering cost savings through tender activities.

Responsibilities

• Develop and deliver sourcing strategies to optimise procurement processes.
• Negotiate contract terms to ensure favourable pricing and quality.
• Manage supplier relationships across the lifecycle from due diligence to renewal or exit.

Skills

Strategic sourcing

Supplier management

Contract negotiation

Data-driven decision making

Stakeholder influencing

Project management

Digital proficiency

Education

Procurement or supply chain qualification

Tools

MS Access

PowerPoint

Word

Job description

The TP&O function plays a critical role in enhancing efficiency, reducing costs, mitigating risks, and driving value across the entire organisation. This is achieved by looking for cost savings through negotiating favourable terms and optimising processes to eliminate inefficiencies and reduce cycle times. You will actively manage relationships with suppliers ensuring risks are assessed, mitigated and managed in accordance with relevant laws, regulations, and internal policies. You will partner with allocated 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.

Key Responsibilities & Accountabilities

• Sourcing strategy - Responsible for the successful development and delivery of sourcing strategies to optimise procurement processes and achieve cost savings through tender activities, negotiating contract terms and ensuring favourable pricing, quality standards, and delivery.
• Data driven decision making - effective collaboration internally and externally to analyse and interpret data and make recommendations to develop/improve our systems, processes, and technology, as appropriate.
• Cost savings - responsible for developing and implementing sourcing strategies, managing supplier relationships, and ensuring the timely and cost-effective procurement of goods and services.
• Relationship Owner - accountable as a Relationship Owner of third party and supplier relationships by proactively assessing and applying robust processes throughout the relationship lifecycle.

Role purpose

The TP&O function plays a critical role in enhancing efficiency, reducing costs, mitigating risks, and driving value across the entire organisation. This is achieved by looking for cost savings through negotiating favourable terms and optimising processes to eliminate inefficiencies and reduce cycle times. You will actively manage relationships with suppliers ensuring risks are assessed, mitigated and managed in accordance with relevant laws, regulations, and internal policies. You will partner with allocated 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.

Key Responsibilities & Accountabilities

• Sourcing strategy - Responsible for the successful development and delivery of sourcing strategies to optimise procurement processes and achieve cost savings through tender activities, negotiating contract terms and ensuring favourable pricing, quality standards, and delivery.
• Data driven decision making - effective collaboration internally and externally to analyse and interpret data and make recommendations to develop/improve our systems, processes, and technology, as appropriate.
• Cost savings - responsible for developing and implementing sourcing strategies, managing supplier relationships, and ensuring the timely and cost-effective procurement of goods and services.
• Relationship Owner - accountable as a Relationship Owner of third party and supplier relationships by proactively assessing and applying robust processes throughout the relationship lifecycle.

Key skills and experience

PIC operates within the financial services industry and, therefore, is regulated by the FCA and the PRA. We would expect you to be able to demonstrate a good understanding of the regulatory framework and how it applies to the company.

Technical Attributes

• Strong expertise in strategic sourcing, supplier management and third-party selection across IT and Investments
• Proven commercial negotiation capability, delivering cost efficiencies, economies of scale and improved supplier value
• Strong category management experience, using spend analysis and market insight to develop effective category strategies
• Proven track record of improving supplier performance
• Strong understanding of supply chain resilience and ESG considerations
• Data-driven decision-making capability
• Demonstrable ability to drive innovation and collaboration across the supply chain
• Proficiency in procurement and strategic sourcing systems and tools
• Relevant procurement or supply chain qualification, or equivalent professional experience.

Personal Attributes

• Strong project, organisational and self-management skills, with the ability to prioritise effectively and consistently meet deadlines
• Excellent communication, negotiation and influencing skills, with the ability to build support and achieve positive outcomes with a range of stakeholders
• Strong commercial judgement, applying sound business awareness to decision-making and problem-solving
• Analytical and data-driven mindset, with the ability to interpret information, identify insights and make well-informed decisions
• Ability to operate effectively within established policies, procedures and functional frameworks, while maintaining accountability for delivery
• Strong digital capability, with a good working knowledge of MS Access, PowerPoint and Word, alongside effective use of AI tools.

DE&I at PIC

At PIC, we believe that true innovation stems from embracing diverse perspectives, backgrounds and experiences. We are committed to building a workplace where every individual, regardless of race, gender identity, sexual orientation, disability, age, religion, or socio-economic background, feels valued, heard and empowered to succeed. We hold ourselves accountable through ongoing initiatives, such as inclusive hiring practices, and equitable career development opportunities that support belonging and community. While we're proud of our progress, we recognise there's work ahead, and we remain dedicated to listening, learning and evolving together.

Benefits

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'll have access to some great benefits, including private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme, insurance for Travel, Private Medical, Critical Illness, Life Assurance and Income Protection, and much more.