Procurement Manager

Job Description Role Purpose

• Responsible for end-to-end strategic sourcing and contracting across assigned indirect spend categories, ensuring the Bank secures best value, fit for purpose suppliers and robust commercial agreements that support business outcomes and delivery timelines.
• Leads competitive sourcing activity (including “net new” and renewal/recurring engagements), shaping sourcing strategies, running structured tender processes, and negotiating contracts (including appropriate service levels, governance, risk protections and exit provisions) in partnership with Service Owners, Legal and relevant risk/control teams.
• Operating within a regulated financial services environment, the role ensures sourcing and contracting activity is delivered in line with internal procurement frameworks and the Bank’s obligations relating to outsourcing and third party risk management, operational resilience, auditability, and ethical/sustainable procurement.

• Develop and maintain category sourcing strategies for assigned indirect spend areas, informed by business demand, supplier market dynamics, cost drivers, and risk considerations.
• Build multi year pipelines of “net new”, renewal and optimisation opportunities; identify initiatives to deliver measurable value (commercial benefit, risk reduction, operational simplification).
• Provide proactive market insight (benchmarking, supplier innovation, emerging risks such as concentration risk) and brief stakeholders with clear options and recommendations.

• Lead structured sourcing events (RFI/RFP/RFQ, evaluation, negotiation, award), ensuring a transparent, fair and well documented process with a clear audit trail.
• Define commercial models, pricing constructs and contractual mechanisms (e.g., indexation controls, usage bands, service credits, gainshare where appropriate) to optimise value over the contract lifecycle.

• Negotiate and deliver contracts that are fit for a regulated bank, ensuring contractual provisions support operational resilience and third party risk expectations (e.g., clear service definitions, data protection/security obligations, access/audit rights, sub contracting controls, incident obligations, BCP/DR, and exit/transition provisions).
• Work with the Procurement Vendor Governance function, Service Owners, Information Security and SMEs to ensure risk assessment and due diligence outputs are appropriately reflected in contract schedules and obligations.
• Ensure sourcing activity follows internal frameworks (Sourcing Management Framework, Sustainable Procurement Policy, Outsourcing & Third Party Risk policy), including correct routing, approvals and records management.
• Support remediation of legacy contracts where required by updated regulatory expectations at renewal or material change points (working with Legal and stakeholders to prioritise and sequence).

• Act as a trusted commercial advisor to stakeholders, shaping requirements early, challenging “must haves” vs “nice to haves”, and ensuring sourcing approach is proportionate to risk and spend.
• Facilitate cross functional alignment across Finance, Legal, Technology, Risk/Compliance and Info Sec to remove blockers and drive timely decisions.
• Prepare concise sourcing papers (options, evaluation outcomes, commercial justification, key risks) suitable for senior approval forums in line with authority levels.

• Deliver a disciplined handover from contract execution into ongoing vendor governance / relationship management, ensuring service owners and vendor managers have what they need to manage performance, risk, renewals and obligations.
• Ensure contract artefacts, key metadata and obligations are stored and indexed appropriately to support auditability and ongoing management (with Procurement maintaining central contract records).

• Monitor and analyse spend and supplier performance trends to identify savings, demand management and rationalisation opportunities without…