Procurement & Vendor Manager

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.

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.