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For Companies At a Glance
- Tasks: Lead procurement strategies and manage supplier relationships for a top-tier insurance company.
- Company: Join a leading FTSE 500 multinational insurance conglomerate with a strong market presence.
- Benefits: Enjoy competitive salary, career growth opportunities, and a dynamic work environment.
- Why this job: Be a trusted advisor, drive innovation, and make a real impact in a fast-paced industry.
- Qualifications: Strong experience in category planning, sourcing, and contract management, especially in IT.
- Other info: MCIPS qualification is a plus; excellent negotiation and communication skills are essential.
The predicted salary is between 43200 - 72000 £ per year.
Procurement Manager – Insurance – FTSE 500
Excellent opportunity opens for broadly skilled Procurement Manager able to take a holistic view across all areas, supplier and vendors for Multi National Insurance Conglomerate.
Responsibilities:
- The Procurement Manager will proactively engage with the business to understand and support their strategy through the sourcing and management of third-party suppliers to extract maximum value, bring innovation and mitigate supplier risk for new and existing contracts and relationships.
- The Procurement Manager will need to be able to identify and then lead commercial negotiations with third parties and drive a culture of competitiveness and effective risk management becoming a trusted advisor to the business.
- The role will support Business Leaders, Contract business owners for key contracts and sourcing events. They will support key stakeholders in leading and executing deals according to business policy and agreed timelines and create a proactive pipeline that brings savings and value to the business. Ensuring that we receive the products and services that we have contracted for and that key suppliers are effectively managed, and contractual obligations and internal governance and risk processes are met.
- The successful candidate/s must be able to use competitor and industry knowledge to drive innovation and commercial value.
What you’ll do:
- Lead on specific category knowledge in the creation and continual review of robust and forward-looking category plans that use the full range of demand, specification and supply levers. Plans to provide forward-looking data driven opportunities based on business needs, supply market dynamics, and technological changes in the marketplace to achieve or exceed agreed annual savings targets.
- Be responsible for identifying new opportunities and assess their relevance and potential value to the organisation in conjunction with UK and European/Global framework requirements.
- Collaborate with the global Procurement teams on Global/European agreements to ensure that the requirements of the UK business are captured in framework agreements (e.g., customer data provisions/considerations).
- Execute and drive a culture of competitive behaviour and ensure we bring viable options to the go to market strategies including usage of e-auctions and quick RFX.
- Support the assessment of supplier associated risks inherent to the business at the point of contract such as taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
- Always ensuring an appropriate balance of risk with cost of control.
- Ensure robust data integrity in our systems and ensure appropriate procurement methodology for each initiative and track all Pipeline activity and savings as required by procedures.
- Manage any out of governance contract actions ensuring a timely closure ensuring all SRM activities are effectively delivered and reported.
- Work with the business to deliver a clear handover between market sourcing to contract handover.
Skills, Knowledge and Experience:
- Strong evidence of leading category planning development, sourcing and contract management, specifically within IT categories.
- Excellent strategic agility, critical thinking, communication and influencing skills.
- Excellent senior level negotiation skills.
- Ability to think strategically as well as tactically.
- Strong written and verbal communication including presentation skills for engaging stakeholders and making a robust business case for change.
- Strong business planning skills, able to drive change.
- Strong team player.
- Good knowledge of contract law.
- Advanced user of MS Word/Excel/Powerpoint/Visio – especially Excel and Powerpoint.
Desirable:
- Financial Services experience – knowledge of the regulatory environment.
- MCIPS qualified (or studying towards).
- Strong presentation skills for engaging stakeholders and making a robust business case for change.
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Procurement Manager - Insurance - FTSE 500 employer: Rothstein Recruitment Ltd
Contact Detail:
Rothstein Recruitment Ltd Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Procurement Manager - Insurance - FTSE 500
✨Tip Number 1
Familiarize yourself with the latest trends in procurement and insurance. Understanding the current market dynamics and technological advancements will help you demonstrate your strategic agility during interviews.
✨Tip Number 2
Network with professionals in the procurement and insurance sectors. Attend industry events or join relevant online forums to connect with potential colleagues and gain insights that could be beneficial for your application.
✨Tip Number 3
Prepare to discuss specific examples of how you've successfully led category planning and contract management in previous roles. Highlighting your experience with IT categories will be particularly valuable.
✨Tip Number 4
Brush up on your negotiation skills. Be ready to showcase your ability to drive competitive behavior and manage supplier risks effectively, as these are crucial aspects of the Procurement Manager role.
We think you need these skills to ace Procurement Manager - Insurance - FTSE 500
Some tips for your application 🫡
Understand the Role: Take the time to thoroughly read the job description for the Procurement Manager position. Understand the key responsibilities and required skills, especially around category planning, sourcing, and contract management.
Tailor Your CV: Customize your CV to highlight relevant experience in procurement, particularly in IT categories. Emphasize your strategic agility, negotiation skills, and any experience with financial services or regulatory environments.
Craft a Compelling Cover Letter: Write a cover letter that showcases your understanding of the role and how your background aligns with the company's needs. Mention specific examples of past successes in procurement and how you can bring value to their organization.
Highlight Relevant Skills: In your application, make sure to emphasize your strong communication and influencing skills, as well as your ability to think strategically. Mention your proficiency in MS Word, Excel, PowerPoint, and Visio, as these are important for the role.
How to prepare for a job interview at Rothstein Recruitment Ltd
✨Showcase Your Category Expertise
Be prepared to discuss your experience in leading category planning and management, especially within IT categories. Highlight specific examples where you've successfully developed and executed category plans that resulted in significant savings or value for the business.
✨Demonstrate Strategic Agility
During the interview, illustrate your ability to think both strategically and tactically. Share instances where you've navigated complex negotiations or adapted to changing market conditions, showcasing your critical thinking and problem-solving skills.
✨Engage Stakeholders Effectively
Prepare to discuss how you have engaged with various stakeholders in previous roles. Use examples to demonstrate your strong communication and influencing skills, particularly in making a robust business case for change.
✨Highlight Your Negotiation Skills
Expect questions about your negotiation experience. Be ready to provide examples of successful negotiations you've led, focusing on how you balanced risk with cost control and achieved favorable outcomes for your organization.
