Strategic Procurement Lead

3 weeks ago

London, Greater London, United Kingdom Bank of England Full time
Job Overview

Department Insight

The Procurement division is tasked with ensuring optimal value for the Bank, adhering to procurement policies and regulations, and managing risks associated with third-party vendors.

Role Summary

The Bank is dedicated to maintaining monetary stability and contributing to financial security; the Central Operations Directorate provides essential infrastructure and services to support the Bank's vital functions.

The Location Strategy Initiative is part of the Central Operations Directorate. This extensive multi-year project will significantly influence and enhance our operational methods.

The initiative aims to:
  • Broaden the Bank's footprint across the UK to better reflect the diverse population of the United Kingdom, as part of our ongoing strategy to engage with a wider range of diverse talent nationwide.
  • Strategize the future utilization of our office spaces, including planning for our central London presence.
Position Details

This fixed-term role spans 23 months and is accountable for spearheading procurement and sourcing initiatives in alignment with the Public Contracts Regulation 2015, the Procurement Act 2023, and Bank policies. The position will be integrated within the Property Location Strategy team, serving as the project's Commercial Lead, overseeing all procurement activities from strategy formulation to contract award, signature, and subsequent vendor management.

You will operate as the commercial lead for the initiative, employing a matrix-style approach, reporting to the Senior Commercial Business Partner while being embedded in the Property Location Strategy Team, collaborating closely with the Bank's real estate team and external consultants.

Your responsibilities will include:
  • Engaging with key stakeholders to comprehend business needs and the necessity for transformation.
  • Formulating procurement strategies for strategic programs and complex procurements in accordance with the Public Contract Regulations 2015, the Procurement Act 2023, and Bank Commercial Policies.
  • Conducting intricate sourcing exercises, utilizing existing public-sector frameworks/DPS, leveraging your expertise to determine suitable strategies for the Bank's requirements.
  • Guiding critical sourcing decisions through the Bank's internal governance structures and executive boards.
  • Assisting the business area in developing Contract Management Plans and Supplier Strategies in line with Bank policies and industry best practices to ensure successful program delivery post-procurement.
  • Acting as the procurement subject matter expert in governance and senior leadership forums throughout the procurement initiative and delivery phases.
  • Creating and maintaining a pipeline of sourcing activities and future procurement with the embedded team for regular assessment.
Required Knowledge, Skills, and Experience

Minimum Qualifications
  • Extensive experience in leading strategic sourcing activities within a public-sector organization.
  • Proven track record in managing FTS-level procurements.
  • Familiarity with the Construction market and NEC contracts.
  • Experience in a client-focused environment across entire project lifecycles.
  • Background in supplier and/or contract management following contract award.
  • Consistent history of delivering benefits through strategic sourcing techniques and relevant systems.
Essential Qualifications
  • Exceptional stakeholder management skills with the ability to assertively challenge.
  • Strong communication abilities, fostering rapport and constructive relationships.
  • Demonstrable influencing capabilities.
  • Excellent written and verbal communication skills, with the capacity to present information clearly and concisely at all levels.
  • Self-motivated, capable of working independently and collaboratively within a team.
Desirable Qualifications
  • MCIPS qualification is advantageous, along with experience in program management within public-sector procurement.
Commitment to Inclusion

The Bank prioritizes diversity, equity, and inclusion. We recognize the importance of a workforce that mirrors the society we serve to effectively maintain monetary and financial stability.

At the Bank of England, we strive for all colleagues to feel valued and respected, working diligently to cultivate an inclusive culture that empowers individuals from all backgrounds to excel in their roles. We celebrate all forms of diversity, including age, disability, ethnicity, gender, gender identity, race, religion, sexual orientation, and socioeconomic status. We believe that diverse perspectives and experiences enhance our decision-making for the public good.

We welcome applications from individuals seeking flexible work arrangements, including job shares and part-time roles. We have partnered with external organizations to facilitate necessary adjustments for candidates and employees throughout the recruitment process.

For roles that can be performed remotely, we encourage colleagues to spend approximately half of their time in the office, with a minimum of 40% per month. Individuals and managers should collaborate to determine the best working arrangements for their teams and stakeholders.

We are proud members of the Disability Confident Scheme. If you wish to apply under this scheme, please indicate your preference in the relevant section of the application.

Compensation and Benefits

We promote flexible working, part-time roles, and job share options. Compensation and benefits for part-time positions will be adjusted accordingly.

This role offers a competitive salary range, complemented by a comprehensive benefits package, including:
  • A non-contributory, career average pension scheme providing guaranteed retirement benefits.
  • A discretionary performance award based on current award pools.
  • An 8% benefits allowance, with options to receive it as salary or to purchase various flexible benefits.
  • 26 days of annual leave, with the option to acquire up to 12 additional days through flexible benefits.
  • Private medical insurance and income protection.
Security Clearance Process

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