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The Role

The main purpose of the role is to lead, create and transform and centralise a new Procurement division in the Bank. Focus of the role is to drive efficiency, cost savings and improve an overall procurement performance.

Key Responsibilities

Discovery

Undertake a detailed analysis of our existing Procurement state by reviewing our current operating model to understand the 'As Is' and development of an updated benefits case including efficiency and cost benefit opportunities.Design

Support the creation of a full business case with supporting evidence and strategic framework. The key outcome required is to compare the 'As Is' situation with 'Fit for Purpose' solution whilst ensuring to keep the Bank's strategic objectives in mind to develop a series of recommendations along with the design of a revised target operating model that can be utilised cross-department, as well as outlining the steps required in achieving these objectives.
Delivery

Detailed planning and implementation of the overall agreed upon plan, including delivery of key objectives which include identified saving delivery offerings to create a self-funded function within the organisation. Areas of continuous improvement should also be highlighted to ensure ongoing regeneration of best practises.

Division Creation and Strategic Transformation

Develop and implement a comprehensive procurement transformation strategy aligned with the company's overall business objectives.
Lead the establishment of a new procurement division from the ground up, including staffing, processes, and systems.
Identify opportunities for process improvements, cost reductions, and enhanced efficiency within the new procurement division.
Process Optimization

Conduct thorough analysis of current procurement processes, identifying bottlenecks and inefficiencies.
Design and implement streamlined, scalable procurement processes and systems for the new division.
Ensure procurement activities comply with internal policies and external regulations.
Technology Integration

Lead the selection and implementation of procurement technologies and tools (e.g., e-procurement systems, procurement analytics platforms) for the new division.
Ensure effective integration of new technologies with existing systems and processes.
Change Management

Develop and execute change management plans to ensure smooth adoption of new processes and technologies.
Provide training and support to procurement staff and other stakeholders.
Foster a culture of continuous improvement within the new procurement division.
Performance Measurement

Establish key performance indicators (KPIs) to measure the effectiveness of procurement activities and transformation initiatives.
Regularly monitor and report on procurement performance, providing insights and recommendations for further improvement.
Stakeholder Management:

Collaborate with internal stakeholders (e.g., finance, operations, legal) to ensure alignment and support for procurement transformation initiatives.
Build and maintain strong relationships with key suppliers and external partners.
Risk Management:

Identify and mitigate risks associated with procurement activities and transformation projects.
Ensure robust contract management and supplier performance monitoring processes are in place.
Cross-functional Collaboration:

Collaborate with various departments within the Bank, such as PCM, Legal, and Operations, to ensure procurement activities are aligned with business needs and comply with internal policies.

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Shift F5 Ltd is acting as an Employment Business in relation to this vacancy