At a Glance
- Tasks: Lead optimisation efforts in procurement, driving continuous improvement and stakeholder engagement.
- Company: Join the Bank of England, the UK's central bank, dedicated to public service and financial stability.
- Benefits: Enjoy flexible working, a competitive salary, and a comprehensive benefits package including private medical insurance.
- Why this job: Be part of a collaborative culture that values diversity and makes a real impact on the UK economy.
- Qualifications: Experience in leading change in commercial environments and excellent stakeholder management skills required.
- Other info: Applications from diverse backgrounds are encouraged; flexible working arrangements available.
The predicted salary is between 58000 - 72000 £ per year.
Commercial Business Partner – Optimisation Lead
Commercial Business Partner – Optimisation Lead
Commercial Business Partner – Optimisation Lead
Job Description
Location: Leeds or London
The Bank of England (\”the Bank\”) is the UK\’s central bank. The Bank is a diverse organisation, and each of its 5,000 people are committed to public service and dedicated to promoting the good of the people of the United Kingdom by maintaining monetary and financial stability.
The Bank spends approximately £300m annually on third party goods and services via contracts procured through the central procurement division. This expenditure is committed over a wide variety of categories that include ground-breaking technology and payments systems that service over £675bn of payments every single day, activities required to maintain a grade 1 listed building, and the specialist contracts required to print and distribute bank notes.
Job Description
We are looking for an Optimisation Lead within the Procurement Division to support the management of the Division and the coordination of management processes as well as drive forward continuous improvement activities.
This role will report directly to the Chief Procurement Officer, attend the senior leadership team meetings and work together with other leaders within the procurement division.
Responsibilities
The role\’s responsibilities include to
- support the Chief Procurement Officer to continuously improve the Bank\’s commercial division in terms of service offerings and capabilities,
- engage with senior stakeholders across the Bank to determine the change needs that the division needs to fulfil,
- assist in the promotion of the procurement division by supporting senior leadership team members in their efforts to secure funding to embed commercial teams within change and delivery programmes,
- take responsibility for identifying and, if appropriate, sourcing any required procurement resources and oversee their employment at the Bank,
- maintain job descriptions for staff within the procurement division and work together with talent acquisition and other parts of the people organisation to maintain adequate staffing levels through the recruitment of permanent and fixed term employees, and the engagement of temporary labour,
- act as the lead for the division\’s engagement with the senior governance forums in the Bank, building a relationship with the secretaries and leading our liaison for other established bodies of users of procurement services in the Bank including the COO forum and staff networks,
- establish and maintain a community of practice for staff in the Bank engaged in commercial procurement activities including purchase order raisers, contract owners of low value contracts and others,
- support the management of the procurement division\’s budget and training budget including supporting staff engaged in multi-year professional qualifications,
- work with the central communications team and become procurement\’s key contact for internal communication initiatives,
- support all teams within the procurement division with their continuous improvement efforts, including the provision of any tooling that is required, and
- oversee the collection of performance data relating to the division\’s performance against our metrics.
Essential Criteria
- Experience of leading change programmes within a commercial environment and delivering measurable and sustainable value.
- Excellent stakeholder management and influencing skills.
- Experience of working within a Public Contract Regulations 2015 / Procurement Act 2023 controlled environment.
Desirable Criteria
- MCIPS qualification (or equivalent commercial experience).
- Effective interpersonal skills, ability to build rapport and constructive relationships.
- Excellent management skills and experience.
- Excellent written and oral communications skills, with the ability to present and communicate clearly and succinctly at all levels.
- Self-motivation, with the ability to work both on your own initiative and as part of a team.
Bank Behaviours
In addition to the role requirements outlined above, the holder of this role is expected to act and behave in line with the following behaviours:
- Customer focus
- Business acumen
- Evidence based decision-making
as well as the Bank of England behaviours:
Act Inclusively
- Acting inclusively
- Earn trust
- Embrace differences
- Inspire purpose
Drive Growth
- Courage
- Demonstrate self-awareness
- Develop talent
Deliver Outcomes
- Developing vision
- Achieve results
Our Approach to Inclusion
The Bank values diversity, equity and inclusion. We play a key role in maintaining monetary and financial stability, and to do that effectively, we believe we need a workforce that reflects the society we serve.
At the Bank of England, we want all colleagues to feel valued and respected, so we\’re working hard to build an inclusive culture which supports people from all backgrounds and communities to be at their best at work. We celebrate all forms of diversity, including (but not limited to) age, disability, ethnicity, gender, gender identity, race, religion, sexual orientation and socioeconomic status. We believe that it\’s by drawing on different perspectives and experiences that we\’ll continue to make the best decisions for the public.
We welcome applications from individuals who work flexibly, including job shares and part time working patterns. We\’ve also partnered with external organisations to support us in making adjustments for candidates and employees in the recruitment process where they\’re needed.
For most roles where work can be carried out at home, we aim for colleagues to spend half of their time in the office, with a minimum of 40% per month. Subject to that minimum requirement, individuals and managers should work together to find what works best for them, their team and stakeholders.
Finally, we\’re proud to be a member of the Disability Confident Scheme. If you wish to apply under this scheme, you should check the box in the \’Candidate Personal Information\’ under the \’Disability Confident Scheme\’ section of the application.
Salary and Benefits Information
We encourage flexible working, part time working and job share arrangements. Part time salary and benefits will be on a pro-rated basis as appropriate.
We offer a salary as follows:
- Leeds circa £60,720 – £68,310
- London circa £67,440 – £75,870
In addition, we also offer a comprehensive benefits package as detailed below:
- Currently a non-contributory, career average pension giving you a guaranteed retirement benefit of 1/80th of your annual salary for every year worked. There is the option to increase your pension (to 1/65th) or decrease (to 1/105th) in exchange for salary through our flexible benefits programme each year. The Bank has the discretion to vary standard accrual rates and dial up and dial down rates at any time and to withdraw dial up and dial down options at any time.
- A discretionary performance award based on a current award pool.
- An 8% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.
- 26 days\’ annual leave with option to buy up to 12 additional days through flexible benefits.
- Private medical insurance and income protection.
National Security Vetting Process
Employment in this role will be subject to the National Security Vetting clearance process (and typically can take between 6 to 12 weeks post offer) and the passing of additional Bank security checks in accordance with the Bank policy. Further information regarding the vetting and security clearance requirements for the role will be provided to the successful applicant, and information about how the Bank processes personal data for these purposes, is set out in the Bank\’s Privacy Notice.
The Bank of England welcomes applications from all candidates, but as a UK Visas and Immigration (UKVI) approved sponsor, we have a responsibility to comply with the Immigration Rules and guidance. As such, our ability to employ individuals who require sponsorship for immigration purposes is limited. The Bank cannot guarantee that you and / or the role you are applying for will be eligible for sponsorship and that any application made to UKVI will be successful. Eligibility will therefore be considered on a case by case basis.
The Application Process
Important: Please ensure that you complete the \’work history\’ section and answer ALL the application questions fully. All candidate applications are anonymised to ensure that our hiring managers will not be able to see your personal information, including your CV, when reviewing your application details at the screening stage. It\’s therefore really important that you fill out the work history and application form questions, as your answers will form a critical part of the initial selection process.
The assessment process will comprise of two interview stages and a psychometric assessment.
This role closes on XXXX
Please apply online, ensuring that you complete your work history and answer ALL the application questions fully and in detail as your application will not be considered if all mandatory questions are not fully completed.
About Us
We are the UK\’s central bank – and we are a bank like no other; known by our peers for our world-leading thinking on policy and strategy.
Our mission is to promote the good of the people of the UK by maintaining monetary and financial stability. We seek to keep prices stable and people\’s money safe. We know our work matters to people, to families, up and down the UK. We are driven by curiosity and the desire to do important, challenging work.
It takes a great team to run the Bank of England. We rely on each other to play our part. We benefit from a collaborative culture and long-established flexible ways of working, supporting our colleagues balance their work and personal lives. We strive to be a place where people feel they belong and have equal access to opportunities, because different perspectives helps us make the best decisions for the public.
There\’s much to gain from working with us – from career defining work at the heart of the UK economy, being part of a fantastic team, and a rewarding compensation package.
Join us and find a bank like no other. Together, we can make a difference.
The Bank of England will use and protect the information you provide when you apply for a role with us, in line with our obligations under data protection law. This is so we can assess your suitability for the role and administer your application. If you\’re successful we\’ll use it to offer you a position and onboard you to join the Bank.
If you would like more details about how your information will be used and your information rights, please visit our recruitment privacy notice
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Commercial Business Partner - Optimisation Lead | London, UK employer: Bank of England
Contact Detail:
Bank of England Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Commercial Business Partner - Optimisation Lead | London, UK
✨Tip Number 1
Familiarise yourself with the Bank of England's mission and values. Understanding their commitment to public service and financial stability will help you align your responses during interviews, showcasing how your personal values resonate with theirs.
✨Tip Number 2
Network with current or former employees of the Bank of England. Engaging with them can provide insights into the organisational culture and expectations, which can be invaluable when preparing for interviews.
✨Tip Number 3
Prepare specific examples of your experience in leading change programmes and stakeholder management. The role requires strong influencing skills, so having concrete instances ready will demonstrate your capability effectively.
✨Tip Number 4
Stay updated on current trends in procurement and public sector regulations. Being knowledgeable about the Public Contract Regulations 2015 and the Procurement Act 2023 will show your commitment to the field and readiness for the role.
We think you need these skills to ace Commercial Business Partner - Optimisation Lead | London, UK
Some tips for your application 🫡
Understand the Role: Read the job description thoroughly to grasp the responsibilities and essential criteria. Tailor your application to highlight how your experience aligns with the role of Optimisation Lead.
Highlight Relevant Experience: Emphasise your experience in leading change programmes within a commercial environment. Use specific examples that demonstrate measurable outcomes and stakeholder management skills.
Showcase Communication Skills: Since excellent written and oral communication skills are crucial, ensure your application is clear and concise. Use professional language and structure your responses logically.
Complete All Sections: Make sure to fill out every section of the application form, especially the work history and mandatory questions. Incomplete applications may not be considered, so double-check before submitting.
How to prepare for a job interview at Bank of England
✨Understand the Role and Responsibilities
Before the interview, make sure you thoroughly understand the job description and responsibilities of the Optimisation Lead. Familiarise yourself with the key tasks such as supporting the Chief Procurement Officer and engaging with senior stakeholders. This will help you articulate how your experience aligns with their needs.
✨Showcase Your Stakeholder Management Skills
Given the importance of stakeholder management in this role, prepare examples from your past experiences where you've successfully influenced or managed relationships with senior stakeholders. Be ready to discuss specific strategies you used to engage and communicate effectively.
✨Demonstrate Change Management Experience
The role requires leading change programmes, so be prepared to discuss your experience in this area. Highlight any measurable outcomes from previous initiatives you've led, focusing on how you delivered sustainable value in a commercial environment.
✨Emphasise Your Communication Skills
Excellent written and oral communication skills are essential for this position. Practice articulating your thoughts clearly and succinctly, and consider preparing a brief presentation on a relevant topic to demonstrate your ability to communicate effectively at all levels.