Head Of Procurement

time left to apply End Date: December 13, 2024 (11 days left to apply)
job requisition id R4032
Lloyd's is the world's leading insurance and reinsurance marketplace. We share the collective intelligence and risk sharing expertise of the market's brightest minds, working together for a braver world.
Our role is to inspire courage, so tomorrow's progress isn't limited by today's risks.
Our shared values: we are brave; we are stronger together; we do the right thing; guide what we do and how we act. If you share our values and our passion to build a future that's more sustainable, resilient and inclusive, you'll find a home at Lloyd's – build a braver future with us.
The RoleProvide insightful procurement leadership globally, that will develop and maintain a coordinated approach towards procurement and vendor management for Lloyd's, seeking value for money, relationship and performance management of suppliers and offering advice on all areas of the Corporation's purchasing and contract activity that instils a high-performing culture.
Principal AccountabilitiesFull accountability for the Procurement Strategy for the Corporation that instigates best-practise commercial behaviour and establishes clear vendor management policies, processes and governance.Responsible to act as subject matter expert and counsel for all major programmes and projects across the Corporation.Achieve financial goals including cost reduction strategies - support /advise internal stakeholders and functions at all levels.Establishing a framework to ensure that there is adequate oversight and management of Third-Party Activities through enhanced due diligence and on-going monitoring of vendors.Performance monitoring on an ongoing basis, escalation of material issues at the right level to adequate governance and ensuring compliance with regulatory expectations on continuous vendor monitoring.Ensure that a clear roadmap is in place driving effective operational, contractual and commercial management of these relationships in line with the contract.Ensure Vendor Management governance is established, robust and is operationally effective.Monitor Supplier performance through engagement with the Service Managers and escalate to governance committees where required. Full accountability for supplier capability, including cost benefit analysis, issue resolution, risk mitigation and contingency planning.To lead the sourcing and contracting of suppliers and service providers across all procurement categories across the Corporation globally.Ensure that categories are clearly defined and identify mandatory and optional projects throughout the Corporation.Accountable for the assessment and selection of all established and newly appointed suppliers to ensure optimum cost, product solutions and service, establishing a supplier management process to monitor suppliers' ongoing performance.Draft and negotiate agreements with suppliers following legal principles.Ensure compliance with relevant legislation, deliver management information, ensure data quality and appropriately communicate information to all internal stakeholders. This is to include oversight of the SMF 24 responsibilities.Foster innovative procurement solutions with a focus on process optimization/automation, digitalisation and electronic purchasing capabilities to minimize transaction and resource intensive processes and to further drive efficiency and cost reduction.Work with IT to rationalise system architecture and manage legacy estate costs.SkillsInfluencing & negotiating skills across industry and profession.Thought leadership/public advocacy skills within and across global industry.Multiple stakeholder management and effective networking skills.Functional strategy development and influencing skills.Written and Numerical skills.Driving change and innovation skills.Ability to lead complex/largest projects and initiatives.Ability to work in a multi-cultural environment.Team leadership and people management skills.KnowledgeKnowledge of supply chain, production and processing.Knowledge tools and technology (P2P), procurement regulations and standards, administration and management.Knowledge including Financial Services/Banking or London Market & International Markets.Knowledge of financial and business processes in the insurance industry.Knowledge of legal principles and their application in a commercial environment.Knowledge of corporate governance principles and structures.ExperienceEvidence of a career in procurement.Experience of leading and managing multi-disciplinary and international teams.Experience of stakeholder management within complex organisations.Experience of developing and evaluating risk and compliance standards/processes throughout the procurement cycle.Experience leading complex and large cross-functional projects and initiatives.Experience providing thought leadership on global issues and communicating complex information to diverse stakeholders.Demonstrable experience in delivering end to end best practice Supplier Relationship Management for internal and external vendors.Extensive experience in managing outsourced suppliers and ability to influence key stakeholders.Diversity and inclusion are a focus for us – Lloyd's aim is to build a diverse, inclusive environment that reflects the global markets we work in. One where everyone is treated with dignity and respect to achieve their full potential. In practice, this means we are positive and inclusive about making workplace adjustments, we offer regular health and wellbeing programmes, diversity and inclusion training, employee networks, mentoring and volunteering opportunities as well as investment into your professional development. You can read more about diversity and inclusion on our website.
We understand that our work/life balance is important to us all and that a hybrid of working from the office and home can offer a great level of flexibility. Flexible working forms part of a total reward approach which offers a host of other benefits over and above the standard offering (generous pension, healthcare, wellbeing etc). These include financial support for training, education & development, a benefit allowance (to spend on our flexible benefits such as gym membership, dental insurance, extra holiday or to partake in our cycle to work scheme), employee recognition scheme and various employee discount schemes.
By choosing Lloyd's, you'll be part of a team that brings together the best minds in the industry, and together with our underwriters and brokers, we create innovative, responsive solutions allowing us to share risk and solve complex problems.
Please note, clicking on this link does not register your application for the vacancyAbout UsLloyd's aim is to build a diverse, inclusive environment that reflects the global markets we work in and in which everyone is treated with dignity and respect.
We will invest in attracting the best talent to Lloyd's, making sure recruitment is targeted at bringing in the skills we need to evolve.
We will develop a talent pipeline that provides us with the key capabilities we will need for the future. To also create a culture in which every employee fulfils their full potential, ensuring that leaders role-model the behaviours we expect in ourselves and others.

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