Senior Buyer - London, United Kingdom - LSEG (London Stock Exchange Group)

LSEG (London Stock Exchange Group)

Verified Company

London, United Kingdom

2 weeks ago

Posted by:

Tom O´Connor

beBee Recruiter

Description

Senior Buyer - Technology

Role profile:
LSEG acquired Refinitiv in 2021. A transformation programme is currently underway to full realise the potential of the now integrated companies.

LSEG combined its procurement functions early in the integration phase and is continuing to enhance its own capabilities and maturity, whilst supporting the wider transformation programme.

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 quality issues are resolved with the supply base and monitor the PR/PO pipeline.

This role sits in the Technology tower, reporting to one of the Category Directors, who are responsible for the global procurement activities including engagement and ongoing management of third-party suppliers, the sourcing and vendor strategy and roadmap for their Category, split as follows:
Networks, Datacentres & Storage

Infrastructure

Cybersecurity

Cloud & End User

Capital Markets

Post Trade & Corporate

Innovation, D&A & Shared Tech

The total annual spend for Technology for the above categories combined is c £750m

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

This role will report to one of the Category Directors and will be primarily be aligned to their Category, although the role may be required to support other Categories with Technology Procurement and the wider Group Procurement team from time to time.

Budget Responsibility:
None.

Direct Reports:
None.

Indirect Reports:
None

Key interfaces:

With line management
Category Managers and other buyers
Group Procurement Centre of Excellence and Shared Services teams
Business: Supplier business owners and budget holders, within the technology or business area associated with the category
Key partnering functions: Finance, Legal, Third Party Risk Management

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 sourcing and negotiation for low to medium spend new agreements or renewals within own scope and escalating those that are not, analysing financial and commercial structure, engaging Legal as required and ensuring correct terms and conditions are applied Engage stakeholders to ensure renewal is required and scale is accurate Engage the appropriate business stakeholder or vendor manager to get PO raised 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, wit