Vendor Manager

Octopus1; Greater London; Hybrid; GBP 55,000 - 90,000; Full time

Job summary

Octopus1 seeks a procurement professional to own supplier relationships from selection to renewal, negotiating pricing, terms and renewals while coordinating with Information Security, Legal, Risk and Compliance to ensure governance.

You will lead supplier selection, tender support and due diligence, using data and AI tools to improve spend visibility, risk management and value from supplier relationships.

Qualifications

• Experience in procurement, vendor management, supplier relationship management or commercial contract management.
• Track record of building supplier relationships and negotiating strong commercial terms.
• Experience supporting supplier selection and tendering.
• Confidence working with financial information, supplier data and spreadsheets.
• Clear communication with senior colleagues and practical stakeholder advisory.
• Sound commercial judgement balancing cost, service quality and risk.

Responsibilities

• Build long-term relationships with approved suppliers and give colleagues practical, clear advice on contracts.
• Run service reviews and improvement plans and address supplier issues and commercial risks.
• Negotiate pricing, renewals, extensions and terms, focusing on value and supplier consolidation.
• Support tenders (RFPs/RFIs), review proposals and recommend suppliers on cost, quality and risk.
• Ensure due diligence and onboarding with Information Security, Legal, Risk and Compliance; manage contract records and risk.

Skills

Procurement experience

Vendor management

Contract management

Financial acumen

Clear communication

Education

CIPS (Chartered Institute of Procurement & Supply) qualification

Tools

Procurement platforms

AI tools for research & analysis

Spreadsheets

Job description

What's in it for you

You'll own our supplier relationships from selection to renewal, and your recommendations will shape what we buy. You'll negotiate pricing and terms, see each supplier through onboarding, performance and renewal, and have room to use AI and automation to cut admin and sharpen decisions. Your judgement will decide whether we get real value and whether our suppliers are reliable and well governed.

The role

You'll look after our supplier relationships and make sure we get good value from every contract. You'll work closely with colleagues across the business, and with Information Security, Legal, Risk and Compliance.

What you'll do

Build supplier relationships

Build long-term relationships with approved suppliers, and give colleagues practical, clear advice on their contracts.

Run service reviews and improvement plans, and step in early on supplier issues and commercial risks.

Negotiate and source

Negotiate pricing, renewals, extensions and terms, looking beyond the lowest price to overall value, and spot savings from supplier consolidation to better contract terms.

Support tenders (requests for proposal and requests for information), review proposals and recommend suppliers on cost, quality and risk.

Keep suppliers safe and well governed

Support due diligence and onboarding, working with Information Security, Legal, Risk and Compliance so the right checks happen.

Keep contract records accurate and help manage risks such as service continuity, financial stability and data protection.

Improve how we buy

Use data, reporting tools and AI responsibly to simplify processes and report clearly on spend, renewals, savings and supplier performance.

Help colleagues understand the cost of buying AI-enabled products, including licensing and usage-based pricing.

Essential

• Experience in procurement, vendor management, supplier relationship management or commercial contract management.
• A track record of building supplier relationships and negotiating strong commercial terms.
• Experience supporting supplier selection and tendering.
• Confidence working with financial information, supplier data and spreadsheets.
• Clear communication with senior colleagues, and a practical approach to advising stakeholders.
• Sound commercial judgement: balancing cost, service quality and risk, and knowing when to bring in specialists.

Desirable

• Experience in financial services or another regulated environment.
• Familiarity with supplier due diligence, third-party risk management and procurement governance.
• Experience buying technology, software as a service (SaaS) or professional services.
• Experience with procurement or contract management platforms, or using AI tools for research and analysis. Curiosity about both counts too.
• A CIPS (Chartered Institute of Procurement & Supply) qualification, or equivalent experience.

Don't tick every box? If you meet most of the essentials, we'd still love to hear from you.

What we offer

• A competitive salary, bonus, pension and share incentive plan
• Untracked holiday
• Hybrid working - three days in the office, two days from home
• Anchor (our wellness hub) which includes Headspace, one to one coaching through Wellness Cloud, Digital GP, employee assistance program & more
• Up to 6 months paid parental leave regardless of gender
• Life insurance, critical illness cover and income protection
• Private medical insurance for you and your family
• The option to work overseas up to a month per year
• Plus: pension, free mortgage advice, a financial coach through Octopus Money, electric vehicle leasing and cycle to work through salary sacrifice, season ticket loans, professional study benefits, ClassPass and Perks at Work.

Our Values

At our core, we believe that how a company behaves is just as important as what it does. That's why we chose to become an accredited B Corp (the equivalent of a Fairtrade coffee stamp but for companies) and to change our Articles of Association so that the interests all our stakeholders - employees, customers, communities, environment and shareholders - considered in every decision we make.

We are committed to building a workplace where diversity is valued, and inclusion is a priority. By providing equal opportunities for growth and development, we embrace and celebrate all races, genders, religions, sexual orientations, ages, disabilities, and socio-economic backgrounds. We believe teams achieve their best when every member feels safe, respected and empowered to be their authentic selves.

We're proud to be disability confident and are committed to supporting candidates with a disability, including neurodiversity and mental health conditions, throughout the recruitment process. Applicants are welcome to opt-in to the disability confident scheme as part of our application process. If you require any adjustments to the interview process, we'll be happy to accommodate where possible.