Finance and Risk Category Manager, Corporate Procurement

About Us

LSEG (London Stock Exchange Group) is more than a diversified global financial markets infrastructure and data business. We are dedicated, open-access partners with a commitment to excellence in delivering the services our customers expect from us. With extensive experience, deep knowledge and worldwide presence across financial markets, we enable businesses and economies around the world to fund innovation, manage risk and create jobs. It's how we've contributed to supporting the financial stability and growth of communities and economies globally for more than 300 years.

Through a comprehensive suite of trusted financial market infrastructure services and our open-access model we provide the flexibility, stability and trust that enable our customers to pursue their ambitions with confidence and clarity.

LSEG is headquartered in the United Kingdom, with significant operations in 70 countries across EMEA, North America, Latin America and Asia Pacific. We employ 25,000 people globally, more than half located in Asia Pacific. LSEG's ticker symbol is LSEG.

Our People

People are at the heart of what we do and drive the success of our business. Our culture of connecting, creating opportunity and delivering excellence shape how we think, how we do things and how we help our people fulfil their potential.

We embrace diversity and actively seek to attract individuals with unique backgrounds and perspectives. We break down barriers and encourage teamwork, enabling innovation and rapid development of solutions that make a difference. Our workplace generates an enriching and rewarding experience for our people and customers alike. Our vision is to build an inclusive culture in which everyone feels encouraged to fulfil their potential.

We know that real personal growth cannot be achieved by simply climbing a career ladder which is why we encourage and enable a wealth of avenues and interesting opportunities for everyone to broaden and deepen their skills and expertise.

As a global organisation spanning 70 countries and one rooted in a culture of growth, opportunity, diversity and innovation, LSEG is a place where everyone can grow, develop and fulfil your potential with meaningful careers.

Role Profile

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.

The Procurement function is structured around three master categories of spend (Technology, Services and Corporate), with category teams benchmarked to best-in-class ratio and rightsized based on category complexity, supplier base complexity and business stakeholders.

Some Key Characteristics Of The Group Procurement Organisation

• Supplier spend c 2BN and c. 5,000 suppliers
• Other Towers within Group Procurement
• A Strategy & Performance centre, enabling function to drive and implement the strategy of the Group Procurement function, best in class procurement policy and processes
• A Supplier Relationship Management team responsible for strategic partnership with key suppliers, and the Supplier Relationship Management Framework
• 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 this role is to create, develop and deliver a best in class category procurement service with the express intent of delivering year-on-year value add to the Group in terms of innovation, speed to market, quality, efficiency, risk mitigation and lower cost.

This role sits in the Corporate tower, reporting to a Category Director, 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 certain categories which may include; HR, Legal, Finance, Property, Travel or Marketing.

Corporate categories represent a combined total spend of c.516m.

The role will perform a combination of sourcing, supplier relationship management and business partnering activities, with an emphasis on sourcing for some of the above categories.

It Also Entails Working As Part Of The Group Procurement Team To Support The Evolution Of The Wider Procurement Strategy And Transformation Roadmap, Ensuring This Is Reflected Across All Categories Of Spend Within This Remit

Budget Responsibility: N/A.

Direct Reports: None.

Indirect Reports: None.

Key Interfaces

• With line management: Category Director and Head of Corporate Procurement
• Other Category Managers and Buyers
• Group Procurement Centre of Excellence and Shared Services teams
• Business: supplier business owners and budget holders
• Third party suppliers
• Key partnering functions: Legal, Finance, Risk, Third Party Risk Management (TPRM), Supplier Relationship Management (SRM)
  
  

Key Responsibilities Of The Role

Establishing a Group Procurement Strategy for the Category

Define, gain agreement to and implement strategic sourcing plans (including a pipeline of procurement opportunities) for Finance and Risk category, and sourcing initiatives in support of defined business goals and business roadmaps Lead the implementation of strategic and preferred suppliers for the Category and drive downwards the number of active suppliers. Implement a programme of supplier categorisation to drive value and focus Use internal and external data and analysis, relationships and specialist insight to provide a clear expert view on business investment decisions (e.g. spend analysis, supply markets, sourcing value levers, supply market reviews, business case assessments etc.), to stimulate innovative problem solving within the business Develop and commit to performance targets and provide reporting in line with business compliance and procedures Provide support to business Category owners to drive upwards preferred supplier and channel compliance to global best practice standards Develop and maintain Category strategies and plans in conjunction with the business stakeholder and wider members of the team Anticipate future procurement challenges, ensuring the business is equipped with the right strategies to deliver the best possible commercial outcomes including risks, routes to market, resource commitments, supply market dynamics, competitive strategies and delivery plans

Implementing the Group Procurement Strategy for the Category

Develop and manage supplier performance improvement programs and develop strategies to effectively improve supply chain performance in quality, delivery, and cost management Lead and drive strategic sourcing engagement for the Category, focusing on commercial and contractual negotiations, working with stakeholders and legal to close negotiations with contracts which fully protect the Group's commercial interests and ensure mitigation of operational risks Execute competitive RFI's/RFP's and lead on supplier negotiations as required Provide an advisory service within a matrix orientated business by utilising an appropriate level of commercial expertise and acumen to ensure cost management and functional discipline Lead the delivery of a breadth of procurement initiatives, of varying complexity and value, using best in class sourcing solutions such as e-Procurement, e-Auctioning, strategic sourcing etc. Work with the business to ensure strategic SRM is considered in all procurement decisions, facilitating the handover into the contract management team and providing on-going support and insight to address challenges with incumbent suppliers On-going proactive review of existing Category arrangements in collaboration with business executives and responsibility centre owners, to include ownership of the Category policy to ensure full compliance and least cost Manage the negotiations, tendering and selection of suppliers for all affiliate companies Sourcing leadership on strategic projects including attendance at relevant project / programme boards Ensure appropriate risk mitigation strategies are an intrinsic part of sourcing decisions and contract management including contractual protections and on-going supplier risk management

Developing and maintaining relationships

Act as a business partner to relevant business stakeholders in the Category, by understanding business strategy and providing creative challenge and thought leadership, which influences and supports business decision-making Build strong relationships with key stakeholders in the Group and business teams. Act as a key point of reference, negotiation, escalation for internal and external stakeholders Improve supplier communication to foster an environment of collaboration and innovation Lead SRM of strategic supplier relationships (business critical and high spend), leading all key commercial and governance aspects. Facilitate regular supplier review meetings as well as joint steering group meetings with senior stakeholders. Manage supplier risks and issues

Managing BAU

Facilitate workload management and prioritisation processes to ensure that resource is focused on the highest value opportunities in commercial risk management and cost benefit terms Maintain Procurement systems and tools (e.g. pipeline management tool, savings tracker, supplier and contract databases, Category spend metrics), identifying and acting upon forthcoming renewals as required and identifying future cost reduction opportunities Ensure compliance with corporate product, procedural, regulatory, quality, environmental and corporate social responsibility policies Assist in the development of the team and the wider Group Procurement function across LSEG and different geographies Provide assistance to the business and suppliers across the end to end sourcing process, i.e. reviewing and approving purchase orders, facilitating exceptions such as payment difficulties and ensuring timely delivery of goods and services. Escalate when appropriate Identify the implications of a change and facilitate the variation of the contract Understand the Group Policies in particular Group Procurement Policies and approach to IR35 and apply as appropriate as part of projects to be delivered. Provide assistance to the Business to identify and appropriately resolve issues

Essential Experience And Skills Required

• Strong procurement experience (7+ years) and industry / market knowledge relating to Indirect Procurement and more specifically Finance and Risk, including subcategories such as Financial Services, Tax, Accounting, Internal Audit, External Audit and Risk
• Demonstrable years dedicated to sourcing Finance and Risk related services, dealing with UK based stakeholders and suppliers whilst also having experience of global sourcing
• Strong knowledge of Finance and Risk supplier market and experience of dealing and negotiating with Big 4 consultancies, both commercially and contractually;
• extensive knowledge of various types of pricing structures with for instance, the introduction of Rate Cards and Rebates
• significant contract negotiation experience, dealing with supplier terms and conditions and legal ramifications
• Demonstratable experience developing and executing an end to end procurement strategy across high-value Finance and Risk projects, working in collaboration with key project/business stakeholders
• Extensive knowledge of procurement principles and practices
• Understanding of risks of non-compliance, ability to identify when further advice and support is required
• Understanding of financial accounts, ability to assess the risk of contracting with an organisation based on a review of their company accounts and to identify when specialist financial advice may be needed
• Familiar and comfortable with intermediate IT tools and Procurement systems, 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 Executive level
• Proven track record of managing and leading business change and the transformation of business relationships
• Demonstrated analytical, problem solving, project management and decision-making skills in a senior sourcing leadership capacity for a major corporation
• 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
• Strong planning and prioritising according to business needs
• Coaching and mentoring less experienced resources (e.g. buyers)
• Excellent communication skills (written and verbal)
• Strong top-down critical thinking and the ability to produce compelling narratives to guide stakeholders to sound decision-making
• Educated to degree level
  

Desirable

• Procurement / supply operation qualification, e.g. MCIPS or IAACM.
• Experience of procurement in a Financial Services Regulated Environment, Information Services Companies; FinTechs; Global, multi-country organisations preferred
• Experience dealing with Legal Services category
  
  

Values and Behaviours

Personally demonstrates and leads their team to live the LSEG Values and Behaviours

Connect: We work as one company to serve our customers. We unify to get the best from our people and to deliver the greatest value for our customers. We break down silos, bringing together data, products, people and partners globally in new and better ways. We behave as a truly global organization, creating inclusive teams who work in partnership with our customers and stakeholders.

Create opportunity: We have the courage to think differently. We are proud of our heritage yet not constrained by it. We're curious and willing to disrupt ourselves. We expand our horizons and recognise that brilliant ideas and perspectives can come from anywhere. We shape markets in ways that create sustainable value for society and create an impact we're proud of.

Deliver excellence: We execute to the highest standards. Good enough isn't good enough we constantly challenge ourselves to be better. We deliver on our commitments and take ownership of every aspect of our work. We know that financial communities depend on the integrity of our infrastructure and data, and never compromise on stability and resilience.

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.

We are proud to be an equal opportunities employer. This means that we do not discriminate on the basis of anyone's race, religion, colour, national origin, gender, sexual orientation, gender identity, gender expression, age, marital status, veteran status, pregnancy or disability, or any other basis protected under applicable law. Conforming with applicable law, we can reasonably accommodate applicants and employees religious practices and beliefs, as well as mental health or physical disability needs.

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