Role Overview
The Sourcing Office is responsible for managing end-to-end sourcing activities, including new supplier selection, contract renewals, renegotiations, and execution of sourcing processes (RFI, RFP, RFQ). The team leads all sourcing activities for contracts valued below £250,000 annually.
The Sourcing Manager will manage and execute sourcing processes across assigned services. This may include responsibility for a specific sourcing category (e.g., Technology, Non-Technology) or span multiple categories simultaneously. The role requires close collaboration with Category Management and Commercial Contract Management teams to execute category strategies and supplier initiatives. In addition, the Sourcing Manager will support the broader Procurement Efficiency Office on Third Party Risk Management, Supplier Onboarding, and Procure-to-Pay processes when required.
Role Responsibilities
Sourcing Management
1. Manage the end-to-end sourcing process for goods/services valued under £250k.
2. Partner with business stakeholders to assess requirements for new, renewal, or extension of services.
3. Prepare and issue RFI, RFP, and Best and Final Offer documentation.
4. Develop tender evaluation frameworks and align with category managers and stakeholders.
5. Analyse commercial bids, prepare reports, and coordinate technical/performance evaluations with service owners.
6. Develop and execute negotiation strategies to optimise commercial value.
7. Support stakeholders and Legal in finalising contracts, ensuring alignment with tender outcomes.
8. Maintain accurate savings data in the Procurement tracker.
9. Drive spend consolidation through preferred suppliers or framework agreements.
10. Actively support Category Management in sourcing projects impacting multiple business functions.
11. Ensure compliance with Procurement policy and procedures while driving category sourcing strategies.
12. Collaborate with Compliance, Legal, Finance, Risk, and other teams to mitigate third-party risks.
13. Contribute to procurement transformation, innovation, and continuous improvement initiatives.
Procurement Support
14. Support Third Party Risk Management in supplier onboarding and due diligence assessments.
15. Assist with onboarding suppliers into financial systems and due diligence platforms.
16. Provide reporting and contract analysis support to business analytics and MI teams.
17. Abstract contract data and ensure accurate metadata storage in central repositories.
18. Assist the Contract Management team in supplier relationship management, performance reviews, and issue resolution.
19. Identify opportunities to improve procurement systems and processes.
Communication & Leadership
20. Provide clear and timely updates to stakeholders throughout procurement processes.
21. Prepare and deliver reports on procurement and outsourcing arrangements for committees or boards.
Change, Risk & Issue Management
22. Identify, manage, and escalate procurement risks as appropriate.
23. Recommend tools, methodologies, and best practices to strengthen procurement effectiveness.
Experience & Competencies
Essential
24. Degree educated or equivalent significant experience in supply chain or procurement.
25. Proven experience in contract management and commercial negotiations.
26. Strong understanding of purchase order and invoice approval processes.
27. Experience with contract management platforms (e.g., ServiceNow, Ariba).
28. Strong Microsoft Office skills, especially Excel.
29. Technical knowledge in at least one key procurement area: Contract management / Contract negotiations (MCIPS or equivalent) / Third Party Risk Management
Desired
30. Professional procurement qualification (e.g., MCIPS or equivalent).
31. Experience working in financial services or other regulated industries.
32. Exposure to category management across technology and non-technology services.
33. Strong analytical skills with experience in procurement data analysis and reporting.
34. Experience supporting procurement transformation or continuous improvement projects.
Band & Level
35. Professional / 5
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