Sourcing Manager

A transforming insurance company offering a suite of industry-leading insurance and retirement products is recruiting a Sourcing Manager to join its procurement claims team.

Reporting to the Head of Sourcing, the Sourcing Manager will work within a small but high-performing team with a total spend profile of £450m and be responsible for sourcing negotiations to maximise value and innovation while minimising risk. 

You will work closely with business stakeholders and service owners to ensure best-value solutions are commissioned that maximise the commercial benefit for the business. 

This position is a national role and can be based from home or at any of the business’ office locations across Bournemouth, Bristol, Birmingham, Leeds, Croydon, London, Brentwood or Ipswich – you will need to be within a commutable distance from the office for physical meetings on an ad-hoc basis.   

As Sourcing Manager your key responsibilities will be:

• Contract reviews and sourcing activity, utilising the Business Sourcing Process (BSP), including developing, issuing, and scoring RFI/P as required to ensure value in the marketplace is secured
• Engaging proactively with stakeholders to ensure best value solutions and all relevant legal/regulatory/technical requirements are included in our requirements to the market and subsequently embedded in our contract with the successful supplier
• Supporting the Senior Category Manager by continually reviewing the efficacy, efficiency and security of current supply arrangements, ensuring that contracts remain in force, effective and up to date with market trends, price, customer service competitiveness and regulatory change
• Managing the running of RFx and e-Auction opportunities
• Managing the creation of purchase order requisitions, correctly aligned to the spend categories and nominal ledger codes
• Working collaboratively with the Procurement Practice Team to maximise activity through the BSP and capacity planning, ensuring quality focused results are produced
• Leveraging the use of existing goods/services on the Preferred Supplier Lists, ensuring demand is challenged and then matched to an existing product that the business has within its inventory before any steps are taken to go to market
• Leading negotiations on mid/high-value opportunities. You will have the required skills to draft contracts and appropriate schedules using a suite of approved templates/clauses
• Ensuring the above delivers end-to-end commercial, contractual and relationship lifecycle value, specifically ensuring that optimum routes on business requirements are developed
• Understanding cost drivers and value levers when formulating specifications, ensuring value levers are a central part of Procurement activity.
• Ensuring compliance with the BSP at all times
• Regularly feedback suggested improvements to the BSP to drive a culture of continuous improvement.
• Identifying, managing and mitigating commercial and supply chain risk, ensuring effective Due Diligence is completed in line with the BSP with appropriate evidence effectively stored post-contract signature
• In conjunction with Supplier Relationship Managers, ensure full awareness of performance and quality trends within the Category area, and be available to provide commercial and contractual support for any interventions required.

Skills and experience:

• Demonstrable stakeholder management ability with the gravitas to interact and influence at Head of Function level to deliver effective Procurement strategies across the enterprise
• Strong leadership skills and behaviours 
• Strong knowledge of commercial models and approaches/techniques necessary to achieve best in class sourcing deals and to develop good knowledge in your assigned market and category area
• Proven ability to deliver substantial cost-benefit and improved customer outcomes
• Very strong understanding of the customer journey and how to continually improve service as a key differentiator in the marketplace.
• Good relationship management and networking skills and experience, required for both, key stakeholder and supplier engagement.
• Sourcing expertise and in-depth knowledge of the Sourcing Process to ensure optimum levels of Value are delivered.
• Strong negotiation skill set and ability to influence outcomes.
• Demonstrable experience at having successfully drafted contracts and associated schedules of legal agreements.
• Dynamic and self-motivated style with an ability to deliver at pace and drive change.
• Strong organisational skills with an ability to plan, prioritise and deliver work to timescales.
• Strong attention to detail and the capability to assess and mitigate relationship issues and commercial risk.

Benefits of the Sourcing Manager role include:

• £45-50,000
• Competitive bonus
• Private medical
• Double matching pension (up to 14%)
• 30 days holiday
• Flexible benefits