At a Glance
- Tasks: Lead procurement activities and manage supplier relationships for the Bank's Location Strategy Project.
- Company: Join the Bank of England, a key player in the UK's financial landscape.
- Benefits: Competitive salary, generous leave, private medical insurance, and a strong pension scheme.
- Why this job: Make a real impact on the Bank's expansion and community trust across the UK.
- Qualifications: Experience in procurement and contract management within public-sector organisations.
- Other info: Flexible working arrangements and a commitment to diversity and inclusion.
The predicted salary is between 52000 - 78000 £ per year.
Join the Bank of England as a Contract and Procurement Management Lead for the Location Strategy Project (within the Central Operations Directorate) and help drive the Bank's expansion across the UK.
Location: Leeds or London
Base Pay Range: Leeds £62,480 – £70,290; London £69,440 – £78,120
Project Overview
The Bank aims to increase its presence across the UK, growing the Leeds office to 500 people by 2027 and establishing a permanent office, while evaluating office space usage in London for future needs. This project supports sustainable property solutions, collaborative working, and strengthens community trust.
Responsibilities
- Work with the wider London and procurement team to ensure LSP adheres to the Procurement Act in all procurements undertaken.
- Lead and manage procurement activities in line with the Bank and programme objectives, ensuring compliance with relevant policies and regulations.
- Drive the Bank's Supplier Relationship Management programme, fostering partnerships, monitoring performance, and ensuring continuous improvement.
- Support ongoing Cost Management processes, including change control, forecasting, early warnings, and financial reporting.
- Provide proactive risk identification and mitigation strategies to address supplier and cost risks.
- Collaborate with internal stakeholders to translate contractual and commercial requirements into practical guidance.
- Deliver timely, detailed, and accurate reporting to support decision‑making and demonstrate value for money.
- Work with stakeholders to ensure legislation and timelines are followed for procurement.
- Oversee and maintain the relationship between the Bank and suppliers to ensure maximum value and steady supply.
- Build and maintain strong, collaborative relationships with key suppliers and internal stakeholders.
- Manage contract performance metrics, risk/reward mechanisms, and contractual performance.
Role Requirements
Minimum Criteria
- Significant experience leading strategic sourcing in a public‑sector organisation.
- Proven experience in procurement, contract management, or commercial roles within complex organisations.
- Strong track record in managing Supplier Relationship Management programmes.
- Expertise in Cost Management, change requests, forecasts, early warnings, and financial reporting.
- Detailed understanding of procurement regulations, including the new Procurement Act.
- Experience in a client‑focused environment covering whole project lifecycles.
Essential Criteria
- Strong communication and stakeholder management skills.
- Excellent written and verbal communication, able to present clearly at all levels.
- Analytical, detail‑oriented, and able to identify and act on risks and opportunities.
- Proactive self‑starter who works effectively within a team.
- Flexible and adaptable, committed to personal development and new responsibilities.
Desirable Criteria
- MCIPS qualification and experience of programme management in public‑sector procurement.
- Experience running procurement exercises in property/engineering/construction under the new Procurement Act.
- Experience working in secure locations and in public‑sector facing organisations.
Inclusion and Equality
The Bank values diversity, equity and inclusion. We support different backgrounds and are committed to building an inclusive culture. We welcome flexible working arrangements and support candidates under the Disability Confident Scheme.
Salary and Benefits
Part‑time salary and benefits will be pro‑rated. In addition to base pay, the Bank offers a comprehensive benefits package, including pension, discretionary performance award, 8% benefits allowance, 26 days annual leave with options for additional days, private medical insurance, and income protection.
Security Vetting
Employment requires National Security Vetting clearance (6 to 12 weeks) and bank security checks. More information will be provided to the successful applicant.
Application Process
The role closes on 21 January. Please apply online, ensuring you complete the work history and all application questions.
Other Details
Seniority level: Entry level
Employment type: Full‑time
Job function: Purchasing
Industries: Banking and Financial Services
Contract and Procurement Management Lead - Location Strategy Project in London employer: Bank of England
Contact Detail:
Bank of England Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Contract and Procurement Management Lead - Location Strategy Project in London
✨Tip Number 1
Network like a pro! Reach out to people in your industry on LinkedIn or at events. A friendly chat can lead to opportunities that aren’t even advertised yet.
✨Tip Number 2
Prepare for interviews by researching the Bank of England and its projects. Knowing the ins and outs of the Location Strategy Project will show you’re genuinely interested and ready to contribute.
✨Tip Number 3
Practice your answers to common interview questions, especially around procurement and contract management. We want you to feel confident and articulate when discussing your experience!
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you’re serious about joining the team.
We think you need these skills to ace Contract and Procurement Management Lead - Location Strategy Project in London
Some tips for your application 🫡
Tailor Your Application: Make sure to customise your application to highlight how your experience aligns with the role. Use keywords from the job description to show we’re on the same page and you understand what we’re looking for.
Showcase Your Skills: Don’t just list your skills; demonstrate them! Provide examples of how you've successfully managed procurement activities or supplier relationships in the past. We want to see your expertise in action!
Be Clear and Concise: When writing your application, keep it straightforward. Use clear language and avoid jargon. We appreciate a well-structured application that gets straight to the point without unnecessary fluff.
Apply Through Our Website: Remember to submit your application through our website. It’s the best way for us to receive your details and ensures you’re considered for the role. Plus, it’s super easy to do!
How to prepare for a job interview at Bank of England
✨Know Your Procurement Regulations
Make sure you brush up on the latest Procurement Act and any relevant regulations. Being able to discuss how these impact procurement activities will show that you're not just familiar with the rules, but that you can apply them effectively in a real-world context.
✨Showcase Your Supplier Relationship Skills
Prepare examples of how you've successfully managed supplier relationships in the past. Highlight specific instances where you improved performance or resolved issues, as this will demonstrate your ability to foster partnerships and drive continuous improvement.
✨Be Ready for Cost Management Discussions
Since cost management is a key part of this role, come prepared with examples of how you've handled change requests, forecasts, and financial reporting. This will help you illustrate your analytical skills and attention to detail, which are crucial for the position.
✨Communicate Clearly and Confidently
Practice articulating your thoughts clearly, especially when discussing complex topics like contract performance metrics or risk management. Strong communication skills are essential, so consider doing mock interviews to refine your delivery and ensure you can present your ideas effectively.
