Commercial Strategy Lead

4 weeks ago

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

Department Insight

The Procurement division is tasked with guaranteeing value-for-money for the institution, adhering to procurement regulations and policies, and overseeing third-party risk management.

Role Summary

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

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

The initiative aims to:
  • Enhance the institution's representation across the UK to reflect the diverse populace, as part of our ongoing strategy to engage broader pools of diverse talent nationwide.
  • Strategize the future utilization of our office and workspace, including considerations for our central London presence.
Position Description

This 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 institutional 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 act as the commercial lead for the initiative, adopting a matrix working style, reporting to the Senior Commercial Business Partner while being embedded in the Property Location Strategy Team, collaborating closely with the real estate team and third-party consultants.

Your responsibilities will include:
  • Engaging with key stakeholders to comprehend business needs and necessary changes.
  • Formulating procurement strategies for strategic programs and complex procurements in compliance with the Public Contract Regulations 2015, the Procurement Act 2023, and institutional commercial policies.
  • Conducting intricate sourcing exercises, utilizing existing public-sector frameworks/DPS, leveraging your expertise to determine suitable strategies for the institution's requirements.
  • Guiding key sourcing decisions through internal governance forums and executive boards.
  • Assisting the business area in developing Contract Management Plans and Supplier Strategies in line with institutional 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 procurements for regular review.
Required Knowledge, Skills, and Experience

Minimum Qualifications
  • Extensive experience in leading strategic sourcing activities within a public-sector environment.
  • Proven experience in managing FTS-level procurements.
  • In-depth knowledge of the Construction market and NEC contracts.
  • Experience in a client-focused setting across entire project lifecycles.
  • Experience in supplier and/or contract management post-contract award.
  • Demonstrated success in delivering benefits through strategic sourcing techniques and relevant systems.
Essential Skills
  • Exceptional stakeholder management skills with the ability to assertively challenge.
  • Strong communication skills, capable of building rapport and constructive relationships.
  • Proven influencing capabilities.
  • Excellent written and verbal communication skills, with the ability to present information clearly and concisely at all levels.
  • Self-motivated, with the ability to work independently and collaboratively.
Desirable Skills
  • MCIPS qualification is advantageous, along with experience in program management within public-sector procurement.
Commitment to Inclusion

The institution values diversity, equity, and inclusion. We play a pivotal role in maintaining monetary and financial stability, and to do this effectively, we believe in having a workforce that mirrors the society we serve.

We strive to create an inclusive culture that supports individuals from all backgrounds and communities to excel at work. We celebrate all forms of diversity, including (but not limited to) age, disability, ethnicity, gender, gender identity, race, religion, sexual orientation, and socioeconomic status. We believe that diverse perspectives and experiences enable us to make the best decisions for the public.

We welcome applications from individuals who work flexibly, including job shares and part-time arrangements. We have partnered with external organizations to assist in making necessary adjustments for candidates and employees during the recruitment process.

For roles that can be performed remotely, we aim for colleagues to spend half of their time in the office, with a minimum of 40% per month. Individuals and managers should collaborate to determine what works best for them, their team, and stakeholders.

Salary and Benefits Overview

We encourage flexible working, part-time arrangements, and job share options. Part-time salary and benefits will be adjusted accordingly.

This role offers a competitive salary along with a comprehensive benefits package, including:
  • A non-contributory, career average pension providing guaranteed retirement benefits.
  • A discretionary performance award based on a current award pool.
  • An 8% benefits allowance with options for salary or a range of flexible benefits.
  • 26 days of annual leave with the option to purchase additional days.
  • Private medical insurance and income protection.
National Security Vetting Process

Employment in this role will be subject to the National Security Vetting clearance process and additional security checks as per institutional policy. Further information regarding vetting and security clearance requirements will be provided to the successful applicant.

Application Process

Important: Ensure completion of the 'work history' section and all application questions. All applications are anonymized to ensure hiring managers cannot view personal information during the screening stage. It is crucial to provide complete work history and application responses, as these will significantly impact the initial selection process.

The assessment process will include two interview stages.

About Us

We are the UK's central bank, recognized for our leading expertise in policy and strategy.

Our mission is to promote the welfare of the UK populace by maintaining monetary and financial stability. We understand that our work is vital to individuals and families across the UK. We are driven by curiosity and the desire to undertake significant, challenging work.

It takes a dedicated team to operate the institution. We rely on one another to fulfill our roles. Our collaborative culture and flexible working arrangements support colleagues in balancing their professional and personal lives. We aim to be a workplace where everyone feels valued and has equal access to opportunities, as diverse perspectives lead to better decisions for the public.

There's much to gain from joining us—career-defining work at the heart of the UK economy, being part of a fantastic team, and a rewarding compensation package.

Join us and discover a unique banking experience. Together, we can make a meaningful impact.

The institution will use and protect the information provided during the application process in accordance with data protection laws. This information will be utilized to assess suitability for the role and manage the application process.

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