At a Glance
- Tasks: Lead procurement and supplier management, driving commercial value and ensuring compliance.
- Company: Join Cynergy Bank, the UK's human digital bank, focused on innovation and customer service.
- Benefits: Enjoy a competitive salary, bonus opportunities, hybrid working, and comprehensive benefits.
- Other info: Flexible working environment with a focus on continuous improvement and personal growth.
- Why this job: Shape the future of banking while influencing strategy and building a high-performing team.
- Qualifications: Experience in procurement within regulated financial services and strong analytical skills required.
The predicted salary is between 60000 - 75000 £ per year.
Shape the future of Procurement and Supplier Management at Cynergy Bank. Join us as a Procurement Lead and play a pivotal role in strengthening how we manage suppliers, drive commercial value, and deliver robust governance across the Bank. You will ensure our third-party estate operates with transparency, control, and efficiency, aligned to regulatory requirements and the Bank’s risk appetite.
This is a permanent leadership role within our Procurement function, reporting to the Director of Performance and Enablement. You will have end-to-end accountability for procurement and supplier management, including sourcing, commercial negotiations, governance frameworks, and third-party risk. Operating with a high degree of autonomy, you will shape procurement strategy, drive commercial outcomes, and ensure supplier management is aligned to the Bank’s performance, governance, and control frameworks.
Where you will work: Hybrid working, with three days per week in our London office (ONC) and two days from home.
How You Will Make An Impact
- Lead procurement and supplier management across the Bank, ensuring a controlled, transparent, and effective approach across the supplier estate.
- Shape and deliver procurement strategy, driving commercial value through sourcing, negotiation, and supplier optimisation.
- Establish and oversee governance frameworks covering performance, risk, contract, and relationship management, aligned to regulatory and TPRM requirements (including Tier 1 and 2 suppliers).
- Ensure procurement is engaged early to influence demand, sourcing approach, and commercial outcomes.
- Oversee the end-to-end supplier lifecycle, including onboarding, due diligence, performance management, renewals, and exit planning.
- Maintain strong control and auditability across supplier arrangements, including effective use of systems such as Gatekeeper.
- Deliver high-quality management information, including supplier scorecards, risk dashboards, and governance reporting for stakeholders and Committees.
- Identify, assess, and resolve supplier risks, disputes, and control gaps, driving continuous improvement.
- Align procurement and supplier performance to broader performance, governance, and reporting frameworks across the Bank.
- Lead and develop a high-performing team, acting as a trusted advisor and representing Procurement in governance forums and supplier engagements.
What You Will Bring
- Strong experience in Procurement and/or Supplier Management within a regulated financial services environment.
- Proven track record managing end-to-end procurement and supplier lifecycle activities, including sourcing, negotiation, performance, and risk.
- Knowledge of PRA and FCA requirements, including outsourcing, operational resilience, and third-party risk (PRA SS2/21).
- Demonstrable ability to deliver commercial value and cost optimisation.
- Strong analytical capability, including experience producing clear, insight-led management information and governance reporting.
- Ability to influence, challenge, and advise stakeholders effectively.
- Excellent communication skills.
- Experience with contract lifecycle and TPRM systems (e.g. Gatekeeper).
How We Will Support You
- Competitive salary and bonus opportunity.
- 28 days holiday, with the option to buy more.
- Award-winning pension scheme.
- Private healthcare, life assurance, and income protection.
- Hybrid working.
- Learning and development opportunities.
- A range of wellbeing and lifestyle benefits.
Cynergy Bank is the UK’s human digital bank, combining personal service with smart technology to support ambitious individuals and businesses. Our values guide everything we do: putting customers first, keeping risk front and centre, enabling innovation, working as one inclusive team, and doing the right thing.
StudySmarter Expert Advice🤫
We think this is how you could land Procurement Lead
✨Get Savvy with Industry Perks
Join procurement and purchasing forums or groups where pros hang out, like CIPS (Chartered Institute of Procurement & Supply). They'll share the inside scoop on job openings that might not show up on traditional job boards!
✨Show Off Your Skills
Consider creating a portfolio that outlines your achievements in procurement, like cost-saving initiatives or supplier management strategies. Having tangible evidence of your skills can really set you apart when applying to companies like Cynergy Bank.
✨Tap into Your Network
Leverage LinkedIn to connect with professionals in procurement—follow relevant hashtags, join groups, and engage in discussions. This is a great way to get noticed by potential employers before they even post a job!
✨Keep Your Eyes on Job Boards
With full-time positions, timing can be everything. Set alerts on job boards specifically for procurement roles. Don't wait for a job posting to close; apply through our website as soon as you see a fit—being proactive can give you the edge!
We think you need these skills to ace Procurement Lead
Some tips for your application 🫡
Show Off Your Procurement Know-How:When you're crafting your CV, make sure to highlight any procurement-specific skills you've got. Talk about your experience with supplier negotiations, cost analysis, or inventory management. If you’ve used software like SAP or Oracle, don’t forget to mention that too – it shows you know your way around the tech side of things!
Quantify Your Achievements:In procurement, numbers matter. Use your CV and cover letter to showcase any quantifiable achievements you've made in reducing costs or improving efficiencies. For example, mentioning that you helped save 20% on purchasing costs last year is way more impressive than just saying you managed the budget!
Tailor Your Cover Letter to Cynergy Bank:Your cover letter should read like you’re chatting directly to Cynergy Bank. Research the company’s procurement strategy, mention how your skills align with their goals, and share your enthusiasm for contributing to their success. This personal touch can really set you apart from the crowd!
Professional Certs Can Go a Long Way:If you've got any procurement-related certifications, such as CIPS or APICS, make sure they're front and centre on your CV. These qualifications show you're serious about your career in procurement and are committed to continuous learning. It’s a great way to signal your expertise and dedication to potential employers like Cynergy Bank.
How to prepare for a job interview at Cynergy Bank
✨Show Off Your Negotiation Skills
In procurement, strong negotiation skills are key. Be ready to share examples of past negotiations where you've successfully saved costs or improved supplier terms. We want to hear how you approached those situations and the strategies you used to achieve positive outcomes!
✨Know Your Tools
Make sure you’re familiar with procurement software and tools commonly used in the industry, such as SAP Ariba or Coupa. Come prepared to discuss any experiences you've had with these tools or similar platforms, as we need someone who can hit the ground running at Cynergy Bank!
✨Understand Market Trends
As a procurement professional, being aware of market trends can set you apart. Brush up on recent developments in supply chain management or procurement best practices and think about how they could impact your role at Cynergy Bank. Bringing a current perspective will show your enthusiasm for the industry.
✨Demonstrate Your Team Player Attitude
A full-time position means you'll be working closely with various teams. Be prepared to discuss how you collaborate with others, manage conflicts, and build relationships with stakeholders. Sharing anecdotes about past teamwork experiences will highlight your ability to fit into Cynergy Bank's culture.
