Procurement & Vendor Manager

# Procurement & Vendor ManagerProcurement & Vendor ManagerSalary£80000 - £100000LocationLondon, UKContractPermanentIndustryLife Insurance Contactollie James is currently searching on behalf of an Insurance client for a Procurement and Vendor Manager to join their business on a permanent, full-time basis.This role will involve both sourcing new suppliers and managing the existing vendor list, holding vendors to performance standards, negotiating and re-negotiating contracts and improving processes.The role is based in London and offers hybrid working arrangements.Financial Services experience is a requirement for this role.Oliver James is currently searching on behalf of an Insurance client for a Procurement and Vendor Manager to join their business on a permanent, full-time basis.This role will involve both sourcing new suppliers and managing the existing vendor list, holding vendors to performance standards, negotiating and re-negotiating contracts and improving processes.The role is based in London and offers hybrid working arrangements.Financial Services experience is a requirement for this role. Role Responsibilities Manage the end-to-end procurement lifecycle, from sourcing and contracting through to invoicing and payment Lead the development, issuance and management of Requests for Proposal (RFPs) and related sourcing activities Draft, review, negotiate and manage vendor contracts in line with company policies and governance standards Manage contract renewals, extensions and terminations proactively to avoid commercial, operational or compliance risks Ensure contractual terms are aligned with business objectives while effectively identifying and mitigating commercial and operational risks Identify cost optimisation and value creation opportunities across the vendor portfolio, including benchmarking and renegotiation initiatives Partner closely with business stakeholders to understand requirements and define appropriate contractual terms and conditions Partner with business leads to shape sourcing strategies aligned to business priorities and long term objectives Collaborate with legal, TPRM and finance teams to ensure full compliance with internal policies, procedures and regulatory requirements Drive continuous improvement in procurement and vendor management processes, tools and controls, including automation where appropriate Support change and transformation initiatives by ensuring third party arrangements are fit for purpose and scalable Conduct regular vendor performance and governance reviews to ensure compliance with agreed service level agreements (SLAs), contractual obligations and company standards Escalate and manage vendor issues and disputes, working collaboratively to achieve timely and commercially sound resolutions Develop and maintain strong vendor relationships to drive service quality, cost efficiency and continuous improvement Provide training and awareness sessions to internal stakeholders on procurement policies, contract management and vendor best practices Undertake additional responsibilities as required to support the effective delivery of the role Skills & Experience Essential 8+ years of experience in contract and vendor management, preferably within the financial services sector Experience using Coupa to manage end-to-end procurement processes, reporting, controls and compliance Experience developing and using dashboards, KPIs and management information (MI) to track spend, vendor performance, risk and compliance Strong knowledge and experience in contract and vendor life-cycle management, contract negotiation and managing vendor relationships Excellent analytical, problem solving and decision-making skills Strong communication and stakeholder management abilities Exceptional attention to detail Experience of specific re-insurance industry would be desirable but other industries would be considered. Contract related certification preferred - WorldCC and/or CIPS Ability to exercise confidentiality and professionalism in the performance of duties.