Third Party & Supplier Manager | Operations

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This is a hybrid role working 3 days per week in the office (City of London location) and 2 days working from home.

Role Purpose:

The Third Party and Supplier Manager will play a pivotal role in managing the bank's relationships with external suppliers, ensuring that the procurement process is efficient, cost-effective, and compliant with regulatory standards.

The role holder will be responsible for designing and implementing a robust third-party management framework, overseeing contract negotiations, and maintaining supplier performance. Collaborating closely with internal stakeholders, they will ensure smooth onboarding, contract renewals, and the resolution of any disputes.

This role requires a commercially minded individual with effective communication, analytical, and leadership skills to deliver strategic value to the business.

Responsibilities:

Central SME for Third Party Management:

• Serve as the go-to expert for the business on third-party and outsourcing matters
• Provide comprehensive support throughout the lifecycle of third-party engagements, including onboarding, ongoing management, and withdrawal plans

Collaboration and Implementation:

• Work closely with the Head of Central Operations to develop, implement, and maintain robust third-party and outsourcing management practices across the business
• Ensure all processes meet quality assurance standards and comply with relevant regulations

Training and Awareness:

• Design and deliver training programs to supplier owners, enhancing their understanding and management of third-party relationships
• Raise awareness of best practices and compliance requirements across the business

Management Information (MI) Reporting:

• Compile and present key management information to relevant committees
• Highlight areas of non-compliance or concern, providing actionable insights to mitigate risks

Centralised Management of Key Relationships:

• Be the primary contact for certain centrally managed third-party relationships that are common across the business
• Oversee these relationships to ensure consistency and compliance with company standards

Procurement & Contract Management:

• Manage the procurement process, ensuring timely and cost-effective sourcing of goods and services in line with business needs
• Oversee contract management, ensuring agreements are up to date and comply with necessary legal requirements
• Identify and drive cost saving opportunities through supplier negotiations and improved procurement practices
• Collaborate with internal teams to ensure smooth onboarding of new suppliers, renewing of existing contracts and addressing any disputes or performance issues

Skills and Experience sought

• 5 years of experience in the design, implementation, and management of third party risk frameworks
• Proven record in negotiating contracts and managing supplier relationships to achieve business objectives
• Background in procurement, with experience in cost management and identifying savings opportunities
• Experience in managing the full supplier lifecycle, from onboarding and contract renewals to dispute resolution and offboarding
• Knowledge of regulatory requirements related to third parry and supplier management
• Strong negotiation skills, proven ability to negotiate favourable terms and manage complex contract discussions
• Stakeholder management: Ability to build strong relationships across the business and with external suppliers
• Commercial awareness: Keen understanding of cost management, procurement strategies and market trends
• Strong analytical skills with the ability to generate reports and insights on supplier performance and cost
• Problem solving: Ability to resolve disputes and issues with suppliers effectively and quickly.
• Have the passion, drive, and diligence to deliver the very highest levels of customer service.
• Effective communication and people skills
• Microsoft Outlook, Word, Excel & PowerPoint. MS Teams

Remuneration & Benefits:

• competitive salary and bonus package.
• matched pension contributions up to 7%
• 26 days annual leave plus two wellbeing days and opportunity to purchase additional holiday
• flexible and hybrid working
• private medical insurance via Vitality
• life, income protection and critical illness insurance
• enhanced family leave pay
• extensive learning and personal development opportunities
• electric car scheme and cycle to work scheme
• season ticket loan
• wellbeing support - discounted gym membership, employee assistance programme, 24/7 private GP access for staff and their immediate family (online), 1:1 key life stage coaching