Cost and Procurement Manager (Agile) – S3 – CFO – Multiple Locations (United Kingdom)
Overview
Santander is evolving into a technology‑driven organisation, and the Cost & Procurement team plays a key role in creating a platform to maximise the value of its supplier ecosystem. The Cost Management and Procurement group is seeking a highly passionate, forward‑thinking manager to lead a suite of Agile categories and workstreams based in Milton Keynes, Bradford or Glasgow.
Role Summary
• Lead complex sourcing and cost‑management initiatives to help the bank achieve cost‑to‑income targets.
• Unlock value from the third‑party ecosystem and support strategic programmes, including mergers and acquisitions (M&A) activity.
• Provide analytical, commercial and strategic leadership to senior stakeholders, ensuring best value is achieved whilst managing risk and regulatory obligations.
Responsibilities
* Lead end‑to‑end strategic procurement and sourcing activity across key categories, from demand shaping and market engagement through to contract execution and close, optimizing total cost of ownership and value‑for‑money.
* Support the organisation’s transformation plans and key business activity such as mergers, acquisitions and other strategic transactions, including cost due diligence, synergy identification, and design of supplier and contract integration or separation plans.
* Drive cost transformation activity by designing, improving and embedding cost reporting and management information (dashboards) to give senior leaders insight into cost performance and levers to improve the cost‑to‑income ratio.
* Analyse complex spend and cost data across suppliers, contracts, categories and business areas to perform cost‑driver analysis, benchmark external markets and develop robust business cases for executive decision‑making.
* Partner with senior business stakeholders and strategic suppliers to develop sourcing and commercial strategies that unlock cost efficiencies, innovation and risk reduction.
* Ensure all procurement and M&A‑related supplier decisions comply with third‑party risk, legal, regulatory and policy requirements, including robust due diligence, onboarding, ongoing monitoring and exit planning.
* Coaching and constructively challenging stakeholders through the sourcing and transaction lifecycle so that specifications, commercial structures and business cases reflect realistic cost assumptions, risks and benefits.
* Contribute to financial planning and forecasting by tracking budgets, challenges, risks, opportunities and benefits across your portfolio, and articulate the cost impact of sourcing decisions and M&A activity.
Qualifications – Professional Experience
* Significant experience leading high‑value, high‑risk strategic sourcing and cost optimisation initiatives in a regulated financial services environment.
* Demonstrable experience managing complex cost bases in a large financial services organisation, including deep understanding of key cost drivers such as third‑party spend, technology, change, property and headcount.
* Hands‑on experience leading or supporting procurement and cost workstreams on mergers, acquisitions and large strategic transactions.
* Proven track record of using data and financial management information to perform detailed cost‑driver analysis, scenario modelling and total cost of ownership assessment.
* Experience of supplier relationship management and performance management for strategic suppliers, driving cost, service and innovation benefits across the contract lifecycle.
* Experience operating in an agile, fast‑paced change environment and influencing across multiple business areas or entities.
Hard Skills
* Strong understanding of strategic sourcing, category management and supplier relationship management.
* Advanced cost analysis and financial modelling skills – cost‑driver analysis, total cost of ownership, scenario and sensitivity modelling.
* Knowledge of UK contract law and extensive experience negotiating complex commercial contracts.
* Strong understanding of third‑party risk management and UK financial services regulation as it relates to outsourcing and suppliers.
* Proficiency in using procurement, cost management and portfolio tools (e.g. Ariba, Cost Plan, Planview or similar).
Soft Skills
* Commercially astute and highly cost‑focused, able to balance cost, risk and value in complex sourcing and budgeting decisions.
* Excellent communication and stakeholder management skills, with the ability to challenge constructively where proposals do not optimise the bank’s cost base.
Salary & Benefits
Salary Range: £53,500.00 – £70,000.00 per annum (depending on experience).
Annual salary based on a standard 35‑hour working week.
30 days holiday plus bank holidays (31 days after 5years service), with option to purchase up to 5 contractual days per year.
£6,000 car allowance per year.
Company‑funded private medical insurance.
Protection (death‑in‑service benefit, income protection) and optional discounted life assurance and critical illness cover.
Participation in Santander share plans.
Access to employee bonuses and discounts on Santander products and services.
Wellbeing support: physical, mental, social and financial wellbeing programmes and partner apps.
Enhanced family leave and childcare options.
Volunteering opportunities.
Equal Opportunity & Compliance
At Santander, we’re proud to be an inclusive organisation that provides equal opportunities for everyone – regardless of age, gender, disability, civil status, race, religion or sexual orientation. We’re committed to creating a recruitment experience that’s accessible, fair and welcoming for all candidates. We want our people to thrive – at work and at home – while delivering the best outcomes for our customers and supporting each other to grow.
Right to work in the UK: All candidates must have the right to work in the UK to commence employment with Santander.
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