At a Glance
- Tasks: Support category strategy and savings through commercial analysis and sourcing activities.
- Company: Join M&G, a leading firm with over 175 years of innovation in finance.
- Benefits: Flexible working arrangements, workplace adjustments, and a supportive environment.
- Other info: Opportunity for career growth in a dynamic and collaborative team.
- Why this job: Make a real impact on procurement transformation and drive cost savings.
- Qualifications: Experience in procurement or sourcing, strong analytical skills, and Excel proficiency.
The predicted salary is between 56250 - 68750 £ per year.
At M&G, our purpose is to give everyone real confidence to put their money to work.
With a heritage dating back more than 175 years, we have a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions.
Our two distinct operating segments, Asset Management and Life, work together to provide access to balanced, long-term investment and savings solutions.
Through telling it like it is, owning it now and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent.
We will consider flexible working arrangements for any of our roles and offer workplace adjustments to ensure you have the support you need to succeed in your role.
Role Purpose
The Category Specialist provides UK based commercial and analytical support to the Category Manager(s).
The postholder builds the evidence that underpins category strategy, savings and negotiation, runs sourcing activity that requires UK stakeholder contact, and works with the India Procurement team, which delivers execution work at scale.
The role contributes directly to the category savings plan and to a responsive, credible service to the business.
Context
M&G Procurement is on a transformation journey, our objectives include: Identifying and delivering material, recurring cost reduction on M&G third-party spend; and materially improving how the business experiences Procurement, measured through an internal NPS.
To achieve these objectives, Procurement is moving from a business unit aligned, generalist model to a category structure that operates as an internal commercial consultancy.
The UK team offers the business deep category knowledge, strategic sourcing capability and negotiation expertise, so that M&G can compete with its vendors on commercial strategy.
Key Responsibilities
- Savings and Value Delivery
- Find savings opportunities through spend analysis, such as price variance, fragmented suppliers, off-contract spend, unused licences and auto-renewals.
- Quantify savings using the agreed methodology and baselines, keep pipeline and savings records accurate, and track realised benefits against plan.
- Use usage and consumption data to show where demand exceeds need, for example unused licences, consultant days against deliverables or contingent workers past planned end dates, and prepare the evidence the Category Manager needs to challenge the business.
- Commercial Analysis and Negotiation Support
- Analyse spend, compare rate cards, and model bids, prices and total cost of ownership.
- Prepare negotiation packs, run lower-value negotiations and support the Category Manager in complex negotiations.
- Research markets and suppliers, maintain category fact packs and track market and price movements.
- Sourcing Delivery
- Run sourcing events that require UK stakeholder involvement in Market Dojo, managing timelines and clarifications, scoring responses and keeping the audit trail.
- Work with the India Procurement team on execution activity, giving clear requirements and checking outputs before they go to stakeholders.
- Stakeholder and Supplier Support
- Manage day-to-day stakeholder contact on assigned activity and gather requirements clearly.
- Coordinate supplier reviews, track performance data and follow up commercial actions.
- Contract, Risk and Governance
- Track renewal and notice dates and contract obligations, so that renewals are planned early enough to create competitive tension.
- Coordinate TPRM due diligence with the TPRM team and business owners, and keep procurement records accurate in the relevant systems.
- Data, Digital and AI
- Use spend cubes, Power BI and AI-assisted analysis and drafting to build insight for the Category Manager, and question data rather than accept it at face value.
- Keep procurement data accurate in the system of record and e Sourcing tooling.
- Category Knowledge Requirements
The postholder needs working knowledge of the assigned category or categories, sufficient to support credible market engagement and analysis.
The requirements for the category is set out below: Working knowledge of per-user and subscription licensing and of auto-renewal and notice terms.
Able to use licence usage data to identify unused licences and support demand challenge.
Person Specification
Essential
- Experience in procurement, sourcing or category support, ideally within indirect spend.
- Working knowledge of the assigned category, or a closely comparable spend area.
- Strong analytical skills, including spend analysis, rate card comparison and total cost of ownership modelling, with advanced Excel.
- Experience running sourcing events and evaluating supplier responses.
- Able to work from the London or Kildean (Stirling) office for the majority of the working week.
Desirable
- Experience in a regulated environment such as financial services or insurance.
- Experience with Market Dojo or similar e Sourci
Category Specialist - Client Software in London employer: Prudential UK Services
M&G is an exceptional employer that prioritises employee wellbeing and professional growth, offering a generous benefits package including a valuable pension scheme, extensive annual leave, and comprehensive family support policies. With a commitment to inclusivity and flexibility, M&G fosters a collaborative work culture where employees can thrive and contribute meaningfully to the company's long-standing legacy in asset management and insurance. Located in a dynamic environment, this role as a Reporting Development Analyst provides the opportunity to engage with diverse teams and enhance financial reporting processes while enjoying a supportive workplace.
StudySmarter Expert Advice🤫
We think this is how you could land Category Specialist - Client Software in London
✨Get Savvy with Industry Perks
Join procurement and purchasing forums or groups where pros hang out, like CIPS (Chartered Institute of Procurement & Supply). They'll share the inside scoop on job openings that might not show up on traditional job boards!
✨Show Off Your Skills
Consider creating a portfolio that outlines your achievements in procurement, like cost-saving initiatives or supplier management strategies. Having tangible evidence of your skills can really set you apart when applying to companies like Prudential UK Services.
✨Tap into Your Network
Leverage LinkedIn to connect with professionals in procurement—follow relevant hashtags, join groups, and engage in discussions. This is a great way to get noticed by potential employers before they even post a job!
✨Keep Your Eyes on Job Boards
With full-time positions, timing can be everything. Set alerts on job boards specifically for procurement roles. Don't wait for a job posting to close; apply through our website as soon as you see a fit—being proactive can give you the edge!
We think you need these skills to ace Category Specialist - Client Software in London
Some tips for your application 🫡
Show Off Your Procurement Know-How:When you're crafting your CV, make sure to highlight any procurement-specific skills you've got. Talk about your experience with supplier negotiations, cost analysis, or inventory management. If you’ve used software like SAP or Oracle, don’t forget to mention that too – it shows you know your way around the tech side of things!
Quantify Your Achievements:In procurement, numbers matter. Use your CV and cover letter to showcase any quantifiable achievements you've made in reducing costs or improving efficiencies. For example, mentioning that you helped save 20% on purchasing costs last year is way more impressive than just saying you managed the budget!
Tailor Your Cover Letter to Prudential UK Services:Your cover letter should read like you’re chatting directly to Prudential UK Services. Research the company’s procurement strategy, mention how your skills align with their goals, and share your enthusiasm for contributing to their success. This personal touch can really set you apart from the crowd!
Professional Certs Can Go a Long Way:If you've got any procurement-related certifications, such as CIPS or APICS, make sure they're front and centre on your CV. These qualifications show you're serious about your career in procurement and are committed to continuous learning. It’s a great way to signal your expertise and dedication to potential employers like Prudential UK Services.
How to prepare for a job interview at Prudential UK Services
✨Show Off Your Negotiation Skills
In procurement, strong negotiation skills are key. Be ready to share examples of past negotiations where you've successfully saved costs or improved supplier terms. We want to hear how you approached those situations and the strategies you used to achieve positive outcomes!
✨Know Your Tools
Make sure you’re familiar with procurement software and tools commonly used in the industry, such as SAP Ariba or Coupa. Come prepared to discuss any experiences you've had with these tools or similar platforms, as we need someone who can hit the ground running at Prudential UK Services!
✨Understand Market Trends
As a procurement professional, being aware of market trends can set you apart. Brush up on recent developments in supply chain management or procurement best practices and think about how they could impact your role at Prudential UK Services. Bringing a current perspective will show your enthusiasm for the industry.
✨Demonstrate Your Team Player Attitude
A full-time position means you'll be working closely with various teams. Be prepared to discuss how you collaborate with others, manage conflicts, and build relationships with stakeholders. Sharing anecdotes about past teamwork experiences will highlight your ability to fit into Prudential UK Services's culture.
