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- Tasks: Lead procurement and third-party management to enhance road safety.
- Company: Join MIB, a passionate team dedicated to making roads safer.
- Benefits: Enjoy competitive salary, hybrid work, generous holiday, and wellness support.
- Why this job: Make a real difference by helping victims of uninsured drivers.
- Qualifications: Experience in procurement and strong stakeholder management skills required.
- Other info: Inclusive workplace where your unique self is valued.
The predicted salary is between 40800 - 67200 £ per year.
About MIB
At MIB our people are passionate about making roads safer by getting uninsured and hit-and-run drivers off our roads. Working in partnership with the Police, Insurers and Government our collective aim is to make it a thing of the past but, until that’s accomplished, we’re here to compensate victims quickly, fairly and compassionately. Last year we helped more than 34,000 people struck by uninsured and hit-and-run drivers and paid over £400 million in compensation to support victims rebuild their lives.
About the role
Support the business to adopt and embed the TPRM framework. Deliver first-class Procurement services to assigned business areas that meet the needs of the MIB. Support assigned business areas to manage their third parties – particularly their critical and high risk third parties – in line with the TPRM framework.
Key responsibilities
- Support the implementation and ongoing operation of the TPRM framework at MIB, as a comprehensive approach to managing risk and driving value from our key third party service providers.
- Support the development of a Procurement and Third-Party Management policy framework, ensuring the documentation is reviewed and updated on an ongoing basis as required.
- Support to develop and deliver TPRM training materials, workshops and training sessions across the business.
- Partner with Third Party Accountable Executives (TPAE) and Third-Party Relationship Owners (TPRO) to define a collaborative approach to sourcing and ongoing third party management for assigned business areas, ensuring roles and responsibilities are clearly documented and understood.
- Lead the delivery of end-to-end Procurement activity for assigned business areas, including sourcing approach, pre-qualification, tender, negotiation, preparation of contract, due diligence, onboarding, renewals and offboarding.
- Work collaboratively with Legal to ensure contractual documentation is drafted to contain adequate and appropriate commercial structure, all required clauses to ensure legal and regulatory compliance, and third-party performance criteria to drive delivery aligned to business needs.
- Provide third party management support to TPROs and TPAEs in assigned business areas in line with the TPRM framework. Level of support will vary according to the criticality of the third-party relationship.
- The Lead may be required to provide lighter-touch support for medium and low risk third party engagements but may be required to lead third party management activities for critical and high risk third parties.
- Third party management activities include (but are not limited to) conducting supplier introductory meetings and performance reviews, monitoring supplier performance against key performance indicators (KPIs) and service level agreements (SLAs), identifying areas for improvement, addressing performance issues and agreeing improvement actions, supplier issue resolution, performance recovery and exit-planning activities.
- Contribute to the delivery of cost reductions, efficiencies and value opportunities through delivery of Procurement and third-party management activities.
- Build and maintain excellent relationships with internal stakeholders throughout the business, including those at a senior leadership level.
- Provide Procurement and Third-Party Management SME inputs, strategic commercial advice and challenge at a senior leadership level.
- Provide peer-to-peer guidance, challenge and support to the central team in their delivery of Procurement services and Third-Party management support to the business.
- Work with Finance business partners to produce accurate budgets, forecasts and supplier spend analysis, as required.
- Support to develop and maintain an external network of Procurement and Third-Party Management contacts to develop category expertise, drive market insight, leverage market commercial power and bring technical and/or industry subject matter expertise back into MIB.
- Identify and implement process and system enhancements as required, to drive procurement maturity and ongoing continuous improvement.
Skills and Experience
- Procurement and third-party management experience in a fast-paced organisation.
- Extensive Procurement and third party management experience and experience in IT services and professional services.
- Commercially astute, financially literate and legally competent to negotiate and draft complex supplier contracts.
- Strong influencing and stakeholder management skills, with a proven ability to build constructive working relationships with suppliers, negotiating to deliver results, enforcing contractual obligations and achieving cost savings and improvements.
- Highly credible and collaborative team member, comfortable to challenge, and with excellent influencing skills and the gravitas to establish trust and confidence of senior stakeholders (TPAEs and TPROs) at senior management level.
- Excellent presentation and communication skills, both written and verbal, with an ability to translate complex technical subject matter into clear, concise and impactful information that drives the right decisions.
- Sector experience of insurance and/or financial services is highly desirable.
- Fully qualified CIPS professional, with a commitment to maintaining CPD and keeping up to date with developments within the profession and best practice.
We believe in a workplace where everyone can be themselves. Through our different ideas, personalities and experiences, we redefine what is possible every day. And regardless of your colour, age, race, gender, sexual orientation or anything else you consider yourself to be, there is a place for you at MIB. A place where you can bring your best self to work every day. So, if you think big, love a challenge and want to make a difference to people’s lives, we want to hear from you.
Procurement and Third Party Management Lead - Milton Keynes in Letchworth Garden City employer: MIB
Contact Detail:
MIB Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Procurement and Third Party Management Lead - Milton Keynes in Letchworth Garden City
✨Tip Number 1
Network like a pro! Reach out to people in the industry, attend events, and connect with potential colleagues on LinkedIn. The more people you know, the better your chances of landing that dream job.
✨Tip Number 2
Prepare for interviews by researching MIB and understanding their mission. Be ready to discuss how your skills in procurement and third-party management can help them achieve their goals. Show them you’re not just another candidate!
✨Tip Number 3
Practice makes perfect! Do mock interviews with friends or family to get comfortable with common questions. This will help you articulate your experience and skills confidently when it counts.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who take the initiative to engage directly with us.
We think you need these skills to ace Procurement and Third Party Management Lead - Milton Keynes in Letchworth Garden City
Some tips for your application 🫡
Tailor Your Application: Make sure to customise your CV and cover letter for the Procurement and Third Party Management Lead role. Highlight your relevant experience in procurement and third-party management, especially in fast-paced environments like insurance or financial services.
Showcase Your Skills: Don’t just list your skills; demonstrate them! Use specific examples from your past experiences that showcase your influencing and stakeholder management abilities. We want to see how you’ve built relationships and delivered results.
Be Clear and Concise: When writing your application, keep it clear and to the point. Use straightforward language to explain complex ideas, as this reflects the excellent communication skills we’re looking for. Remember, clarity is key!
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, you’ll find all the details you need about the role and our company culture there!
How to prepare for a job interview at MIB
✨Know Your TPRM Framework
Before the interview, make sure you understand the Third Party Risk Management (TPRM) framework inside out. Familiarise yourself with how it applies to procurement and third-party management, as this will show your potential employer that you're ready to hit the ground running.
✨Showcase Your Stakeholder Management Skills
Prepare examples of how you've built relationships with stakeholders in previous roles. Highlight your influencing skills and how you've navigated complex negotiations. This is crucial for the role, so be ready to discuss specific instances where you’ve made a positive impact.
✨Demonstrate Commercial Acumen
Brush up on your knowledge of financial literacy and contract negotiation. Be prepared to discuss how you've achieved cost savings or improved supplier performance in past roles. This will demonstrate your ability to drive value from third-party service providers.
✨Practice Clear Communication
Since the role requires excellent presentation and communication skills, practice explaining complex concepts in simple terms. You might be asked to present a case study or scenario during the interview, so being able to articulate your thoughts clearly will set you apart.
