Procurement Heads has been retained to recruit a Vendor Performance and Risk Manager (Technology) as part of a multi-role, retained campaign.
Procurement Heads has been retained by a Dorset-based financial services business paving the way in the sector’s evolution to recruit a Vendor Performance and Risk Manager to focus on its technology spend.
Working within a relatively new, highly-competent Third Party Management team and reporting directly to the Director of Third Party Management, you’ll be key to the organisation’s future success, managing and mitigating the risk of all core technology suppliers across the enterprise.
As one of the most senior members in the organisation, you’ll work with other key executives/functions and your role will focus exclusively on key technology third-party vendors/suppliers that underpin the business’ performance and operation.
To be successful in this role, you’ll need deep technology procurement expertise, combined with pragmatism and resilience, and the ability to communicate effectively and influence difficult suppliers and stakeholders at the highest level.
The culture of the function cares personally and challenges directly while having a lot of fun on the job within a fast-paced environment of complete transparency.
The role will see you in its Dorset office approximately three times per week with the rest of the working week conducted remotely.
As Vendor Performance and Risk Manager (Technology) your key responsibilities will be:
- Ensuring material suppliers are managed and governed in line with the regulatory requirements through the application of the board mandates, policy and Third Party Management Operating Procedures (TPMOP)
- Ensuring material supply arrangements have the relevant plans in place to manage and minimise the risk of important business services operating outside of the board-mandated impact tolerances
- Working closely with other key executives and functions to align requirements for performance within the contracting model
- Supporting the Operational Resilience Director in developing Stress Testing Models with material suppliers in line with the regulatory requirements
- Responsible for negotiations and development of contracting models to maximise value and innovation whilst minimising risk with Material Suppliers – this encompasses everything from the initial selection of Suppliers to their effective integration into the supply chain which includes implementing and maintaining a Vendor Performance and Risk Plan
- Supporting the Third Party Management Director to evolve the Third Party Operating Model and TPMOP
- Providing input and reporting capabilities into regular centralised reporting to the Board, Exco and senior leadership team.
- Being responsible for contract reviews and management activity, ensuring compliance with the TPMOP
- Developing and maintaining a Vendor Performance and Risk plan covering the following:
- 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 that stressed exit plans are in place during the pre-execution phase of arrangements. Where arrangements are already in place ensure stressed exit plans are developed during the renewal of the arrangements or at any significant change.
- 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
- Supporting the Operational Resilience Director in developing and implementing Stress Testing Models with Material suppliers in line with the regulatory requirements.
- Combining working with cross-functional teams, Change Management and CIO in the delivery of successful programs.
- With the support of the Market and Data Analyst ensure that stakeholders are fully informed with key information on the stability of the supplier and developments in the relevant market
- Providing evidence and tracking of benefits reports and contributing to the TPM cost management targets
Skills and experience:
- Deep technology supplier expertise, ideally in the financial services sector
- Demonstrable stakeholder management ability with the gravitas to interact and influence at Exco level across the enterprise
- Demonstrable experience in a professional purchasing role, preferably within a FTSE 100 company
- A high level of legal acumen with a good knowledge of contract law.
Strong knowledge of commercial models and approaches/techniques necessary to achieve best-in-class supply arrangements.
- Demonstrate Integrity, Pragmatism and Good Judgement setting an example as a senior member of the Third Party Management Team
- 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
- Strong negotiation skillset and ability 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.
- A good understanding of relevant financial services regulations
- 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.
- Educated to a minimum of A-Level standard or equivalent professional qualification (CIPS desirable) or business experience equivalent
- Previous Project Management experience
- Experience in the banking/insurance services market
Benefits of the Vendor Performance and Risk Manager (Technology) role include:
- £80-90,000 basic salary
- Competitive performance-based bonus
- Private Medical Insurance
- 4 x Life Assurance
- Double-matched pension
- 30 days holiday