Procurement Heads Financial & Professional Services team has been retained by a transforming financial services company to recruit a Contract Manager.
Procurement Heads is delighted to be retained by a transforming, Dorset-based financial services business operating at the forefront of the financial services sector’s evolution to recruit four Contract Managers as part of a multi-role, retained campaign.
Within a revamped procurement function (now called Third Party Management) headed up by a new Director of Third Party Management, you’ll be responsible for ensuring maximum ROI from a portfolio of circa 60 contracts of varying complexity and difficulty from a wide range of suppliers.
The role will be multi-faceted and encompass supplier relationship management, sourcing and risk management (depending on the nature of the contract and supplier) together with managing the pipeline of contract renewals to ensure appropriate cost challenges and negotiation.
To be successful in this role, you’ll have prior experience managing contracts and strong legal acumen to be able to recognise both errors and where improvements can be made, combined with strong commercial acumen and experience working in a medium-to-large-sized procurement function.
The hiring manager is open to previous category and industry experience, placing a higher emphasis on attitude, work ethic and a willingness to roll up sleeves to get the job done.
Historically, this business has been recognised for its values-based culture, providing excellent employee satisfaction and continues to offer a warm family feel.
The role will see you in the Dorset office approximately twice weekly and the rest of the working week can be conducted remotely.
As Contract Manager your key responsibilities will be:
- Contract reviews and management activity, ensuring compliance with the operating model
- Working with key stakeholders to early engage on new requirements and support project activity not yet ready to enter CLM processes
- Developing and maintaining a plan for each significant supplier covering the following:
- Sourcing and Due Diligence
- Negotiation and Contract Creation
- PO Process and Authorisation
- Supplier Onboarding
- Contract Compliance and Reporting
- Contract Exit and Renewals
- Pipelining contracts to ensure appropriate time is allocated in the CLM process
- Working with the Supplier Account Executive and Account Manager to progress the goals and objectives of the arrangement
- Developing and implementing a Third-Party Management/Sourcing Strategy in partnership with key stakeholders, ensuring it is aligned with the overall business objectives
- Fully understanding the details of the supply arrangements and the stakeholder map
- Drafting appropriate contracts and statements of work engaging specialist legal advice as needed
- Ensuring that the contractual arrangements have been assessed against the contractual review criteria and that the contract has followed the correct approval process as laid down in the TPMOP
- Understanding cost drivers and value levers when formulating specifications, ensuring value levers are a central part of Third-Party Management activity
- Ensuring awareness of performance and quality issues within the business area and providing commercial and contractual support for any interventions required
- Maintaining accurate records including contracts, key communications and decisions and stakeholder maps
- Combining working with cross-functional teams, Change Management and CIO in the delivery of successful programs
- Providing evidence & tracking of benefits report and contributing to the TPM cost management targets
- Contribute to TPM Supplier reduction target
Skills and experience:
- You must have demonstrable stakeholder management ability with the gravitas to interact and influence at various levels across the business
- Demonstrable experience in a professional purchasing role, preferably within a FTSE 100 company
- A good level of legal acumen with a good knowledge of contract law.
- Strong knowledge of commercial models and approach/techniques necessary to achieve best in class supply arrangements
- Demonstrate Integrity, Pragmatism and Good Judgement
- Proven ability to deliver substantial cost-benefit and service improvement outcomes
- Good relationship management and networking skills and experience are required for both key stakeholder and supplier engagement
- Good negotiation skill set and able to influence outcomes
- Demonstrable experience in having successfully managed outsourcing contracts and associated schedules of legal agreements
- Strong organisational skills with an ability to plan, prioritise and deliver work to timescales
- Strong attention to detail and capability to assess and mitigate relationship issues and commercial risk
- Dynamic and self-motivated style with an ability to deliver at pace and drive change
- Self-starter, able to operate will minimal supervision
- Willing to adopt a flexible approach to the fulfilment of work commitments
Benefits of the Contract Manager role include:
- £55-60,000 basic salary
- Up to 20% bonus
- Private medical insurance
- Double-matched pension (up to a max of 7/14%)
- 4 x life assurance
- 30 days holiday