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.
• 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.