Cost and Procurement Manager Transformation)| S3 | CFO

Cost and Procurement Manager (Change & Transformation) S3 CFO Milton Keynes

Milton Keynes, United Kingdom

Santander is evolving from a global high‑impact brand into a technology‑driven organisation and our people are at the heart of this journey. Together we are driving a customer‑centric transformation that values bold thinking, innovation and the courage to challenge what’s possible. This is more than a strategic shift – it’s a chance for driven professionals to grow, learn and make a real difference.

• Leading end‑to‑end strategic procurement and sourcing activity across key categories from demand shaping and market engagement through to contract execution and close, ensuring that total cost of ownership and value‑for‑money are optimised.
• Supporting the organisation’s transformation plans and key business activities such as M&A, cost due diligence, synergy identification and the design of supplier and contract integration or separation plans.
• Driving cost transformation activity across Santander UK by designing, improving and embedding cost reporting and management information such as dashboards that give senior leaders clear insight into cost performance, cost drivers and levers to improve the cost‑to‑income ratio.
• Analysing complex spend and cost data across suppliers, contracts, categories and business areas to perform cost‑driver analysis, benchmark external markets and develop robust business cases and options for executive decision‑making.
• Partnering with senior business stakeholders and strategic suppliers to develop sourcing and commercial strategies that unlock cost efficiencies, innovation and risk reduction, including value‑sharing and performance‑based commercial models.
• Ensuring that all procurement and M&A‑related supplier decisions comply with third‑party risk, legal, regulatory and policy requirements, including robust due diligence, onboarding, ongoing monitoring and exit planning.
• Coaching and constructively challenging stakeholders through the sourcing and transaction lifecycle so that specifications, commercial structures and business cases reflect realistic cost assumptions, risks and benefits.
• Contributing to financial planning and forecasting by tracking budgets, challenges, risks, opportunities and benefits across your portfolio and clearly articulating the cost impact of sourcing decisions and M&A activity.

• Significant experience leading high‑value, high‑risk strategic sourcing and cost optimisation initiatives in a regulated financial services environment with a strong understanding of how cost drivers impact the cost‑to‑income ratio (Required).
• Demonstrable experience of managing complex cost bases in a large financial services organisation, including deep understanding of key cost drivers such as third‑party spend, technology change, property and headcount, and how these translate into budgets and financial performance (Required).
• Hands‑on experience leading or supporting procurement and cost work streams on M&A and/or large strategic transactions, including cost due diligence, synergy sizing, one‑off cost assessment and post‑deal integration or separation of suppliers and contracts (Preferred).
• Proven track record of using data and financial MI to perform detailed cost‑driver analysis, scenario modelling and total cost of ownership assessment and turning these insights into clear recommendations and business cases for senior and executive stakeholders (Required).
• Experience of supplier relationship management and performance management for strategic suppliers with a focus on driving cost, service and innovation benefits across the contract lifecycle (Required).
• Experience of operating in an agile, fast‑paced change environment and influencing across multiple business areas, functions or entities (including Group/Global) (Preferred).

• Strong understanding of strategic sourcing, category management and supplier relationship management, including the ability to link sourcing strategies directly to cost outcomes and business strategy (Required).
• Advanced cost analysis and financial modelling skills, including cost‑driver…