Procurement Manager

  • Competitive
  • London, England, Großbritannien London England GB
  • Festanstellung, Vollzeit
  • Bank of America Merrill Lynch
  • 24 Mai 18 2018-05-24

Procurement Manager

Job Description:
Corporate Title: Vice President
Location: London
Line of Business: Chief Administration Office

Here in our London office we are looking for a talented Procurement Manager to join our team; supporting Partner relationships. These will include Cash and Securities services, Financial Market Utilities, Brokers, Trading Execution and Exchanges. You will provide end-to-end management of procurement, related risk management activities and Category level strategies for these services within the EMEA Global Procurement Team.

As an experienced Procurement Manager with expertise in Partner relationships, you will lead the sourcing of deals where the Bank has relationships deemed as Partner.

You will be responsible for negotiating complex deals from inception to completion. This includes performing research to obtain market knowledge, using experience and data to develop and execute intricate procurement strategies, and assigning roles and responsibilities to BAC team members.

Viewed as a trusted advisor by the Front Line Unit (FLU)/Control Function (CF), you are expected to be knowledgeable about the market place to improve the competitive landscape so that we achieve significant cost savings. By using current and future business requirements, market intelligence, and historical spend information, you will develop creative category strategies that drive a simplified supply base, business value and cost reduction.

Aside from procuring goods and services, you shall have a deep understanding of the end-to-end third party risk management lifecycle and ensures the FLU/CF is prepared to handle the risk of contracted goods and services. This will entail supporting FLU/CF personnel in effectively implementing the Third Party Policy, including FLU's/CF's effective use of third parties. You may also be responsible for supporting FLU/CF throughout the third party lifecycle, including third party governance activities and other program requirements.

What will your main responsibilities involve?

  • Negotiating contracts in accordance with standard methodologies, assisting the business owner in building a SOW/SLA, providing transparency and addressing all LOB requirements, and facilitating the collection of additional data from vendor managers as required to support business needs
  • Using persuasion to build group consensus and resolve challenging situations
  • Exercising good legal discernment in settling terms and conditions that are in our best interest, assessing total impact of the contemplated agreement on the corporation
  • Leading a team in the development of complex proposal documents and is proficient in the objective analysis of proposal responses, the identification on non-conforming items and the interview of potential service providers
  • Structuring all elements of an RFP (technical, contractual, schedule and cost) in order to ensure that uniformed bids are received
  • Defining and influencing the category strategy to achieve business results
  • Minimising risk, attaining the best value (cost saves) and providing complete solutions
  • Identifying and raising risks and issues to the appropriate governance routines
  • Analysing and interpreting FLU/CF's level of adherence within program scorecards to identify potential themes and issues
  • Quickly adapting to changes within the Procurement Program; communicating and reinforcing program changes with the FLU/CF through effective change management routines and processes
  • Balancing being an advocate for the Procurement Program and representing legitimate concerns from the FLU/CF
  • Partnering routinely with risk partners (Legal, Compliance, Ops, Info Sec, etc.) in negotiating deals and in handling outsourcing risk
  • Assisting FLU/CFs in providing documentation/evidence when responding to audit and/or regulatory inquiries
  • Consistently provide an elite service by establishing and clearly communicating mutual expectations, developing an understanding of FLU/CF needs and demonstrating competency and consistency in meeting dedications
  • Build broad-based business relationships and partnerships across the organization, skillfully influences peers and colleagues to promote and sell ideas, and dedicatedly surfaces and resolves conflict with minimal noise

What skills and qualifications will you ideally possess?
  • Significant experience sourcing for Cash and Security Partners, Financial Market Utility categories, Trading Execution and Support Services etc.
  • Legal experience is helpful
  • Previous experience, ideally within the Financial Services Industry
  • Have experience handling outsourcing and/or third party risk
  • Working knowledge of local law and outsourcing laws, rules, and regulations
  • Excellent contract negotiation skillset
  • Sound commercial awareness and good analytical and research skills
  • Comfortable with Sourcing systems (ideally Ariba) spreadsheets, presentations and project management
  • Excellent communicator at all levels
  • Able to build and maintain relationships with business partners across various teams
  • Dedicated, conscientious and high level of attention to detail
  • Demonstrable ability to communicate, partner, and influence across a matrix organisation, influence and handle challenging Partners, where there is reduced commercial use
  • Have the organisational skills to monitor work and keep it on track to meet or exceed dedications and consistently provides updates to the concerned parties
  • You will have good time management skills, be able to work independently, juggle concurrent projects, set goals, and prioritise focus
  • Has the ability to accurately interpret complex terminology used in constructing contractual documents
  • Self-starter, with capability of working autonomously across multiple procurement projects


About Bank of America Merrill Lynch
Bank of America is one of the world's leading financial institutions, serving individual consumers, small- and middle-market businesses, large corporations and governments with a full range of financial and risk management products and services. Bank of America Merrill Lynch is the marketing name for the global banking and markets businesses.
The company has had a presence in EMEA since 1922. With offices in 23 countries on three continents, it offers an integrated and comprehensive set of products and services across Global Corporate and Investment Banking, Global Markets and Consumer Card, serving the needs of individual, corporate, institutional and government clients, combining the best of local knowledge and global expertise. Developing solutions for social and environmental challenges is at the core of Bank of America Merrill Lynch's responsibility platform. In more than 90 countries around the world, we partner with employees, clients and stakeholders to help make financial lives better.

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