Assistant Manager, Procurement Shared Services

LSEG recently acquired Refinitiv. An integration programme is currently underway to execute the combination of the two companies and deliver organisational and procurement synergies. LSEG is taking this opportunity to combine and transform both procurement functions into a single, world class Group Procurement function.

Group Procurement is responsible for managing third-party supplier engagements, partnering with the business to drive high performance and sustainable value from our supplier relationships. We aim to make LSEG easier and more attractive to do business with and we consider our suppliers as a source of competitive advantage and not just about cost.

We operate a business partnering and supplier relationship management (SRM) model, aligned to stakeholder groups and spend categories, ensuring value through early and strategic engagement and insightful vendor spend analytics.

Some key characteristics of the new Group Procurement organisation:

• Supplier spend c £2BN and c. 5,000 suppliers
• Team structured around:
  • Three towers aligned to the master categories of spend (Technology, Services and Corporate), focused on category management, sourcing, supplier relationship management and business partnering
  • A Strategy & Performance centre, enabling function to drive and implement the strategy of the Group Procurement function, best in class procurement policy and processes
• Key hubs for the category teams in London, Bangalore and New York with a small amount of decentralised activity to support local markets which are in various global locations including Europe and Asia

The purpose of the role is to support the Category Lead and Category Managers with the delivery of the category strategy and deployment of the supplier relationship management program, ensure data quality issues are resolved with the supply base and monitor the PR/PO pipeline.

This role sits in the Services tower, reporting to the Category Director for Technology Services, who is responsible for the global procurement activities including engagement and ongoing management of third-party suppliers, the sourcing and vendor strategy, and roadmap for the Category.

This Category represents a spend of c.£550m, with key spend areas including Technology Data & Analytics, Infrastructure & Cloud, Cyber Security.

The role will perform a combination of supplier management and business partnering activities, with an emphasis on sourcing data analysis.

Although primary aligned to the above category, this role may be required to support other sub-teams with Group Procurement.

Budget Responsibility: N/A.

Direct Reports: None.

Indirect Reports: None.

Key interfaces:

• With line management (Category Director Technology Services)
• Head of Services Category
• Category Managers and other buyers
• Group Procurement Centre of Excellence and Shared Services teams
• Business: supplier business owners and budget holders
• Technology COO, 3rd Party Management Team
• Third Party Risk Management Team (1LOD)
• Finance groups

Key responsibilities of the role:

Support the delivery of the category strategy and deployment of the supplier relationship management program

Contribute to the development of basic sourcing strategies, including identifying risks, key outputs and deliverables. Lead the development, maintenance and enhancement of core financial and data tools for the category.

Rate Card tool

Supplier capabilities tool & refresh

Contingent Labour reporting

Build Business Tower Procurement dashboards – spend, resources, suppliers

SOW renewal monthly reporting across LSEG

Develop reports for SOW PR/PO in Oracle and Ariba ERP tools

Maintain and update the above quarterly

Support Category Leads or Category Managers with SRM activities, manage allocated supplier relationships Support sourcing activities across the wider team (Category Leads or Category Managers in other categories), as required depending on workload Manage the PR/PO pipeline for the assigned Category of spend

Review pipeline and Purchase Requisition queue and liaise with the Category Lead and relevant Category Managers

Ensure purchase requests meet required standards - i.e. approval process has been followed, a fully signed LSEG standard contract and statement of work (if applicable) is in place, due diligence has been completed appropriately on new suppliers

Ensure Category managers are kept informed

Keep abreast of market and industry developments. Able to make recommendations on alternate sources of supply to inform specifications

Stakeholder engagement

Engage with key stakeholders across the business and key functions such as Legal, Finance and HR to progress queries and act as a point of procurement contact, with support from the Category Lead and other Category Managers Engage with budget-owners to obtain key information and explain procurement processes in line with agreed process and procedures. Deal with stakeholder queries escalating as appropriate Engage with key functions to obtain information and complete necessary actions such as supplier segmentation form

Managing BAU

Information technology

Maintain Procurement systems and tools (e.g. pipeline management tool, savings tracker, supplier and contract databases, Category spend metrics)

Ensure that purchasing, pricing and supplier master data is kept up to date on the relevant IT systems so as to maintain procurement and planning efficiencies

Assess the value added by IT systems to resources employed (e.g. assess benefits of new sourcing solutions), support the design, implementation and management of procurement systems

Contract management

Ensure that relevant contracts are in place for key suppliers as assigned and supported by the Category Lead.

Monitor contract performance and able to identify when corrective action needed

Manage the aging of contracts, liaising with Category managers as to the need for renewals, replacement or variations

Provide assistance to the business and suppliers across the end to end sourcing process, i.e. reviewing purchase orders, facilitating exceptions such as payment difficulties and ensuring timely delivery of goods and services, ensuring an excellent service is provided from within Group Procurement and other key stakeholders. Escalate when appropriate Actively promote continuous improvement by challenging process and procedure to identify and implement valid improvements

The essential experience and skills required:

• 3-year experience in data analytics, data modelling of procurement information
• Commercially minded and proficient negotiator
• Ability to liaise with and manage suppliers
• Ability to assess, prioritise workload and meet deadlines
• Strong IT skills (Office programs especially, Procurement systems desirable), ability to provide management information to assist sourcing and contract management process
• Ability to build relationships, influence and act as an expert across the organisation up to senior management level
• General analytical, problem solving, and decision-making skills
• Pro-active behaviour that demonstrates initiative and positive work ethic to ensure activities are delivered to the required time, budget and quality
• Maximise opportunities, i.e. challenges ways of working, adopts Group practices, seeks and provides information and clarification
• Teamwork - ability to work with other category teams, both a local and an off-shore to deliver services to stakeholders
• Strong communication skills (written and verbal)
• Educated to degree level
• Experience of software tools:
  • Power BI – 3 years
  • Excel – 3 years

Desirable

• Procurement / supply operation qualification, e.g. MCIPS or IAACM, or working towards the qualification
• Experience of procurement in a Financial Services Regulated Environment, Information Services Companies; FinTechs; Global, multi-country organisations preferred
• Oracle & SAP ERP systems

LSEG is a leading global financial markets infrastructure and data provider. Our purpose is driving financial stability, empowering economies and enabling customers to create sustainable growth.

Our purpose is the foundation on which our culture is built. Our values of Integrity, Partnership, Excellence and Change underpin our purpose and set the standard for everything we do, every day. They go to the heart of who we are and guide our decision making and everyday actions.

Working with us means that you will be part of a dynamic organisation of 25,000 people across 65 countries. However, we will value your individuality and enable you to bring your true self to work so you can help enrich our diverse workforce. You will be part of a collaborative and creative culture where we encourage new ideas and are committed to sustainability across our global business. You will experience the critical role we have in helping to re-engineer the financial ecosystem to support and drive sustainable economic growth. Together, we are aiming to achieve this growth by accelerating the just transition to net zero, enabling growth of the green economy and creating inclusive economic opportunity.

LSEG offers a range of tailored benefits and support, including healthcare, retirement planning, paid volunteering days and wellbeing initiatives.

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