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For Companies At a Glance
- Tasks: Manage IT procurement and vendor relationships to drive value and efficiency.
- Company: Join the London Metal Exchange, a leader in industrial metals trading.
- Benefits: Enjoy a competitive salary, health benefits, and opportunities for professional growth.
- Why this job: Make an impact in a dynamic environment while working with cutting-edge technology.
- Qualifications: Degree in business, engineering, or IT; experience in IT procurement is a plus.
- Other info: Be part of a diverse team committed to collaboration and innovation.
The predicted salary is between 36000 - 60000 £ per year.
The London Metal Exchange (LME) is the world centre for industrial metals trading. The LME's CTO Office is designed to ensure a consistent, transparent and efficient approach to the way the IT organisation operates and delivers value to the business. The role is focused on supporting three critical IT teams: Clearing, Corporate & Post Trade (CCP), Trading, Core Engineering & Data (TED), and Information Security (InfoSec).
The role is accountable for ensuring that the IT supply chain and the vendors which reside within it are managed effectively and efficiently by balancing cost, quality and risk. The person in this position is required to work closely with other managers, mainly the LME IT, Finance and Legal teams.
Responsibilities
- Sourcing and procurement of products and services:
- Work within the policies and plans set out by the Head of IT Procurement & Vendor Management & other key stakeholders.
- Carry out third-party IT spending activities, aligning outcomes to LME's desired objectives for service, cost and value.
- Establish and maintain an effective stakeholder relationship within the respective Tower leadership teams.
- Work with subject matter experts throughout the relevant IT teams to procure the best fit for the organisation.
- Facilitate IT procurement projects, IT outsourcing initiatives, and IT cost-reduction initiatives.
- Perform supplier due diligence and supplier risk management for all procurements.
- Work with the Head of IT Procurement & Vendor Management to develop the capability of the procurement team.
- Vendor Management:
- Relationship Management - coordinating the right internal business stakeholder with external vendors.
- Performance Management - monitoring of the services provided by the supplier according to the contractual service levels.
- Escalations - owning escalations from everyday operation of the services through to resolution.
- Contract Management - reviewing clauses for terminations, costs and dates.
- Risk Management - manage and co-ordinate any risks identified internally or by the supplier.
- Vendor Onboarding & Exit - management of setup and exiting of suppliers.
- Assist with tracking the budget and updating the contract tracker.
- Ensure process documentation standards and templates are kept up to date.
- Service Management:
- Ensuring the Inter Group Service Agreement (IGSA) is reviewed annually.
- Organise and facilitate meetings with vendors for service reviews.
- Monitor and report on vendor performance.
- Complete Management information reporting for the department as required.
Academic and Professional Qualifications Required
- A degree, ideally in business, engineering or IT.
- Certification by purchasing and supply chain professional bodies such as CIPS.
- Information Technology Infrastructure Library (ITIL) experience is desired.
Required Knowledge and Level of Experience
- Experience in IT procurement, with experience as an IT procurement or category manager.
- Experience in running competitive tenders and contract negotiations.
- Legal experience, with a background in technology contracts.
- Experience of driving and delivering significant value from procurement programmes.
Skills set and Core Competencies Required for Role
- Strong negotiation skills for large and complex IT procurement deals.
- In-depth understanding of the IT products and services market and its trends.
- Understanding of financial management, contracts and legal issues.
- Strong project and process management skills.
- An ability and desire to drive increased value from the nominated vendor(s).
Personal Qualities
- High levels of interpersonal skills are required to liaise successfully across various internal teams.
- Ability to bridge communications between IT and its business customers.
- Analytical in approach to problem solving with a focus on managing in a team environment.
- Detail, process-oriented and analytical remaining structured with high workloads.
- Interest in IT and understands technology market trends.
The LME is committed to creating a diverse environment and is proud to be an equal opportunity employer.
IT Procurement & Vendor Management Specialist employer: Hong Kong Exchanges and Clearing
Contact Detail:
Hong Kong Exchanges and Clearing Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land IT Procurement & Vendor Management Specialist
✨Tip Number 1
Network like a pro! Reach out to folks in the industry, attend events, and connect with people on LinkedIn. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by researching the company and its culture. Understand their values and how your skills align with their needs. This will help you stand out and show that you're genuinely interested in the role.
✨Tip Number 3
Practice your pitch! Be ready to explain your experience and how it relates to the IT procurement and vendor management role. Keep it concise and focus on what makes you the best fit for the job.
✨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 at LME.
We think you need these skills to ace IT Procurement & Vendor Management Specialist
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the IT Procurement & Vendor Management Specialist role. Highlight relevant experience, especially in procurement and vendor management, and don’t forget to showcase your negotiation skills!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you’re the perfect fit for the role. Mention specific projects or experiences that align with the responsibilities outlined in the job description.
Showcase Your Skills: Don’t just list your skills; demonstrate them! Use examples from your past work to show how you’ve successfully managed vendors or driven value through procurement initiatives. This will help us see your potential impact.
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way to ensure your application gets into the right hands. Plus, it shows us you’re serious about joining our team!
How to prepare for a job interview at Hong Kong Exchanges and Clearing
✨Know Your Stuff
Make sure you brush up on your IT procurement knowledge. Understand the latest trends in the IT products and services market, as well as the specific needs of the London Metal Exchange. Being able to discuss relevant examples will show that you're not just familiar with the role but genuinely interested in it.
✨Showcase Your Negotiation Skills
Prepare to discuss your negotiation experiences, especially in complex IT procurement deals. Think of specific instances where you successfully navigated contract negotiations or competitive tenders. This will demonstrate your capability to drive value from procurement programmes.
✨Build Relationships
Since relationship management is key in this role, be ready to talk about how you've built strong relationships with vendors and internal stakeholders in the past. Highlight your interpersonal skills and how they helped improve vendor performance or resolve issues.
✨Be Process-Oriented
The role requires a detail-oriented approach, so come prepared to discuss your project and process management skills. Share examples of how you've managed multiple vendors or projects simultaneously while keeping everything organised and stakeholders informed.
