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About the Role

The Procurement function aims to balance opportunity, risk, and responsibility to drive better business outcomes through the third-party supply chain. This role is responsible for building partnerships and executing contracts with suppliers to support business divisions in optimizing their cost base, operating models, and delivering innovation. It involves leading complex activities with strategic or material suppliers, negotiating and contracting for new BPO deals, and delivering renewals of existing deals. The role also includes informal management of resources from India and accountability for executing buying activities to drive lower costs and mitigate risks associated with third parties.

Responsibilities

Supporting the development and delivery of the procurement strategy for indirect spend, driving efficiencies and savings for the business and supporting delivery of business strategy and third party supply chain control
Delivering an excellent procurement service to internal customers/stakeholders
Managing supplier relationships during the procurement projects and interventions
Creating a supply chain that aligns with the Commercial & Business Strategy
Accountable for delivery of procurement projects driving efficiencies and savings for the business
Understanding and identifying market trends and intelligence to deliver value and innovative solutions that will achieve business success
Building strong working relationships with core centralised teams (such as IT Security, Legal and Financial Crime)
Driving continuous improvement for the processes utilized within their team and across the Procurement function

Requirements

Good knowledge of strategic procurement and category management theories and concepts, financial risk and liability, including understanding the commercial risks associated with indirect supply chain
Strong analytical skills with the ability to cut through information and draw out key trends / insight to support the development and improvement of the category
Excellent written and verbal communications skills, and the ability to communicate to a range of stakeholders at all levels of the organisation
Strong knowledge of procurement best practice, good network/links with external bodies and individuals in category management across other industries
Strong knowledge of UK indirect supplier marketplace in terms of pricing, breadth of suppliers and geographical coverage, supplier financial standing, including broad understanding of the market trends and dynamics
Experience drawing key trends and insight from a complex range of data and driving action from that insight
Experience of working with a range of external suppliers, able to tailor approach based on the nature of the relationship with a specific partner or client
Experience of commercial and contract negotiation, including the drafting and execution of commercial contracts with track record of delivering savings to target and timelines
Experience of building relationships and influencing a range of senior internal and external stakeholders with the ability to manage competing priorities and business objectives in a fast paced environment
Experience of working in a matrix environment / or virtual team environment
Experience of working in a financial services or services based procurement function
Working knowledge of financial services, regulatory and legislative frameworks relevant to the UK business

Skills

Strategic procurement
Category management
Financial risk and liability management
Commercial risk assessment
Analytical skills
Communication skills
Stakeholder management
Procurement best practice
Supplier relationship management
Contract negotiation
Market trend analysis
Data analysis
Influencing skills

Location

Work Type

Flexible working arrangements

Experience Level

Director level

Education Level

Relevant professional or degree qualification (e.g. MCIPS, MBA)

Benefits

Valuable pension scheme of up to 18% (13% employer contributions and 5% employee contributions)
Access to Share Save and Share Incentive Plan
Financial wellbeing and support services
38 days annual leave (including bank holidays)
Opportunity to purchase up to five extra days of annual leave
Time Off When You Need It policy
Market-leading Inspiring Families policy including comprehensive support and paid parental leave (maternity, adoption, surrogacy, paternity)
Private Healthcare
Critical Illness cover
Life Assurance
Additional family options for Health & Protection cover

About the Company

M&G has a heritage dating back more than 175 years with a long history of innovation in savings and investments, combining asset management and insurance expertise.
The company offers a wide range of solutions through its Asset Management and Life operating segments.
M&G aims to create an exceptional place to work for exceptional talent by fostering a culture of telling it like it is, owning it now, and moving it forward together with care and integrity.

Equal Opportunity

M&G strives to have a diverse workforce and an inclusive culture, underpinned by policies and employee-led networks.
Applications are welcomed from people of all backgrounds – across gender, ethnicity, age, disability, sexual orientation and more – including neurodivergent individuals, career returners and those with military service experience.
M&G is proud to be Level 3: Disability Confident Leader under the UK Government Disability Confident employer scheme.
The company is committed to providing an inclusive recruitment process and offers reasonable adjustments for candidates requiring additional support.