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- Tasks: Manage vendor relationships and oversee the entire vendor lifecycle from sourcing to exit.
- Company: Established mortgage lending and servicing company with a strong reputation.
- Benefits: Competitive salary up to £60k, hybrid working, and opportunities for professional growth.
- Other info: Collaborative environment with a focus on compliance and risk management.
- Why this job: Join a dynamic team and make a real impact in the financial services sector.
- Qualifications: 3+ years in procurement/sourcing with strong negotiation and analytical skills.
The predicted salary is between 60000 - 60000 £ per year.
My client is an established mortgage lending and servicing company. They are seeking a permanent person along with somebody to complete an FTC.
Overview
The Sourcing and Vendor Management Specialist is responsible for the delivery of the end to end vendor lifecycle management, from sourcing and negotiating contracts, managing vendor relationships and performance and facilitating the exit of vendors when services are no longer required.
Responsibilities
- Strategic Sourcing: Partner with key business stakeholders to ensure sourced goods and services meet the needs of the business. Identify potential vendors, conduct market research, and lead the RFx (RFP/RFI/RFQ) process to select vendors.
- Negotiation & Contracting: Negotiate commercial terms, pricing, and Service Level Agreements (SLAs) for new vendor relationships, drafting contracts that minimise risk. Negotiate and manage contractual variations for existing and renewed vendor contracts, ensuring the Company’s risks are minimised where possible.
- Vendor Management: Manage vendor performance, ensure regular performance reviews are undertaken by the internal Business Relationship Managers, and resolve disputes or remediate performance issues when escalated ensuring required level of service is maintained.
- Stakeholder Management: Collaborate with internal departments to define sourcing needs and align with company goals and in coordination with the wider Sourcing team, ensure that sourcing and vendor management decisions and outcomes are appropriate, clearly documented and outcomes are in accordance to policy, process and procedures.
- Risk & Compliance: Ensure vendors adhere to legal, ethical, and sustainability standards as required by the Company. Undertake appropriate due diligence and ongoing oversight activities in accordance with the allocated vendor rating.
- Project Management: Ensure sourcing activities such as third‑party risk management, due diligence, contract renewals and competitive bids in coordination with the business relationship manager and the wider Sourcing team are effectively managed in accordance with agreed deliverables.
Essential Skills/Qualifications
- +3 years procurement/sourcing experience with a proven track record of delivery against targets, including delivery of complex competitive bid (tender) processes and contract negotiations and contract drafting.
- Relevant professional or degree qualification (i.e. CIPS level 4) or qualification by experience.
- Strong negotiation, analytical, and interpersonal skills.
- Proficiency in Excel, third‑party risk management and procurement systems (e.g. Oracle Fusion, Onetrust, Power BI).
- Knowledge of a variety of indirect category sourcing management.
Desirable Skills/Qualifications
- Working knowledge of financial services regulatory and legislative frameworks relevant to UK businesses.
- Project management skills in a cross‑functional environment.
Salary: Up to £60k, depending on experience.
Location: Berkshire (hybrid working).
Sourcing & Vendor Management Specialist - Financial Services in Reading employer: Energy Jobline ZR
Contact Detail:
Energy Jobline ZR Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Sourcing & Vendor Management Specialist - Financial Services in Reading
✨Tip Number 1
Network like a pro! Reach out to your connections in the financial services sector and let them know you're on the hunt for a Sourcing & Vendor Management Specialist role. You never know who might have the inside scoop on job openings or can refer you directly.
✨Tip Number 2
Prepare for interviews by researching the company and its vendor management practices. Be ready to discuss how your experience aligns with their needs, especially around negotiation and contract management. Show them you’re not just another candidate, but the perfect fit!
✨Tip Number 3
Don’t underestimate the power of follow-ups! After an interview, send a quick thank-you email to express your appreciation and reiterate your interest in the role. It keeps you fresh in their minds and shows your enthusiasm.
✨Tip Number 4
Apply through our website for the best chance at landing that dream job! We make it easy for you to showcase your skills and experience directly to hiring managers. Plus, it’s a great way to stay updated on new opportunities tailored to your expertise.
We think you need these skills to ace Sourcing & Vendor Management Specialist - Financial Services in Reading
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Sourcing & Vendor Management Specialist role. Highlight your procurement experience and any relevant qualifications, like CIPS level 4, to show us you’re the right fit for the job.
Craft a Compelling Cover Letter: Your cover letter should tell us why you’re passionate about vendor management and how your skills align with our needs. Use specific examples from your past experiences to demonstrate your negotiation and analytical skills.
Showcase Your Achievements: Don’t just list your responsibilities; showcase your achievements! Quantify your successes in previous roles, especially around contract negotiations and vendor performance management, to give us a clear picture of your capabilities.
Apply Through Our Website: We encourage you to apply through our website for a smoother application process. It’s the best way for us to receive your application and keep track of it, so don’t miss out on this opportunity!
How to prepare for a job interview at Energy Jobline ZR
✨Know Your Stuff
Make sure you brush up on your procurement and sourcing knowledge, especially in the financial services sector. Familiarise yourself with key terms like RFx processes, SLAs, and vendor management strategies. This will show that you're not just interested in the role but also understand the industry.
✨Showcase Your Negotiation Skills
Prepare examples of past negotiations you've led or been a part of. Highlight how you managed to minimise risks and secure favourable terms. This is crucial for the role, so be ready to discuss specific scenarios where your negotiation skills made a difference.
✨Demonstrate Stakeholder Collaboration
Think of instances where you've worked closely with different departments to achieve a common goal. Be prepared to explain how you aligned sourcing needs with company objectives and how you documented outcomes. This will illustrate your ability to work cross-functionally, which is key for this position.
✨Understand Risk & Compliance
Brush up on the legal and ethical standards relevant to vendor management in the UK. Be ready to discuss how you've ensured compliance in previous roles and what due diligence processes you've implemented. This will show that you take risk management seriously and are well-prepared for the responsibilities of the job.