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- Tasks: Lead procurement and third-party management to enhance MIB's services and support victims of uninsured drivers.
- Company: MIB is dedicated to making roads safer by compensating victims of hit-and-run incidents.
- Benefits: Enjoy hybrid working, a generous pension scheme, 25 days holiday, and wellness support.
- Why this job: Join a mission-driven team that values diversity and aims to make a real impact on lives.
- Qualifications: Experience in procurement, strong negotiation skills, and a CIPS qualification are essential.
- Other info: This role offers a chance to work with senior leaders and drive meaningful change.
The predicted salary is between 46800 - 78000 £ per year.
Procurement and Third Party Management Lead – Milton Keynes
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.
Job Title: Procurement and Third-Party Management Lead
Salary: Circa £57,000
Grade: 12
Working Hours: 35
Working Pattern: Monday to Friday
Office Location: Milton Keynes
Job Type: Permanent
IT kit supplied to you
£320 (before tax) start up allowance
Hybrid working (2 days in the office per week) from our Milton Keynes office, MK14
Other Benefits include:
Contributory Group Stakeholder Personal pension scheme
Life Assurance
Employee Incentive Scheme
25 days holiday (plus public holidays)
Holiday purchase scheme
Sports and Social Club
24/7 Employee Assistance Programme
Free access to online tools to support mental and physical health
Enhanced maternity, paternity and adoption leave
1 volunteer day each year and charity matched funding scheme
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 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
✨Tip Number 1
Familiarise yourself with the TPRM framework and its implementation. Understanding how this framework operates will not only help you in interviews but also demonstrate your proactive approach to managing third-party relationships.
✨Tip Number 2
Network with professionals in procurement and third-party management, especially those with experience in IT services and the insurance sector. Building these connections can provide valuable insights and potentially lead to referrals.
✨Tip Number 3
Prepare to discuss specific examples of how you've successfully managed supplier performance and resolved issues in past roles. Highlighting your problem-solving skills will resonate well with the hiring team.
✨Tip Number 4
Showcase your ability to build relationships with senior stakeholders. Be ready to explain how you've influenced decision-making processes in previous positions, as this is crucial for the role at MIB.
We think you need these skills to ace Procurement and Third Party Management Lead - Milton Keynes
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant procurement and third-party management experience, especially in IT services and professional services. Use specific examples that demonstrate your skills in negotiation, stakeholder management, and contract drafting.
Craft a Compelling Cover Letter: In your cover letter, express your passion for making roads safer and how your background aligns with MIB's mission. Highlight your experience in implementing frameworks like TPRM and your ability to build relationships with stakeholders.
Showcase Your Skills: Emphasise your strong influencing and communication skills. Provide examples of how you've successfully managed supplier performance and driven cost savings in previous roles. This will demonstrate your capability to excel in the position.
Proofread and Edit: Before submitting your application, carefully proofread your documents for any spelling or grammatical errors. A polished application reflects your attention to detail and professionalism, which are crucial in procurement roles.
How to prepare for a job interview at MIB
✨Understand the TPRM Framework
Make sure you have a solid grasp of the Third Party Risk Management (TPRM) framework. Be prepared to discuss how you would implement and operate this framework effectively within MIB, as it’s a key part of the role.
✨Showcase Your Procurement Expertise
Highlight your experience in procurement, especially in IT services and professional services. Be ready to provide examples of past successes in negotiating contracts and managing supplier relationships that led to cost savings or improved service delivery.
✨Demonstrate Stakeholder Management Skills
Prepare to discuss how you build and maintain relationships with stakeholders at all levels. Share specific instances where your influencing skills made a difference in achieving project goals or resolving conflicts.
✨Communicate Clearly and Effectively
Practice articulating complex ideas in a clear and concise manner. You may be asked to explain technical concepts related to procurement, so being able to simplify these for non-experts will be crucial.
