The Bank of England is the UK’s central bank. Our mission is to promote the good of the people of the United Kingdom by maintaining monetary and financial stability. The Bank of England is a diverse organisation with over 4,000 staff committed to public service.
Department Overview
The Bank of England spends over a quarter of a £billion each year with third party suppliers. Suppliers play an important role in supporting the Bank’s critical functions and mission. The central Procurement team is committed to working with the Bank’s key business areas to achieve the highest commercial standards in Procurement and Supplier Management.
Commercial Plus+ is an exciting new initiative being led by the Central Procurement Team to take the Bank to the next commercial level. Our aim is to build on the new policy framework to:
- Ramp up engagement by partnering Business areas through the new Commercial Boards
- Embed new digital tools such as DocuSign and the Bank’s new ERP system
- Drive 3rd Party value for money business cases to achieve better outcomes i.e. CSR, Efficiency, Economy & Effectiveness
- Launch the Commercial Academy to develop new commercial skills and competencies
- Raise commercial standards to mitigate risk and maximise value
Role Description
With the new procurement policy successfully launched in 2019, the foundations have been laid and you will join a great team on a mission to elevate the commercial standards at the Bank. By working with a diverse range of stakeholders including up to C-suite you will support the Category Lead to deliver the Commercial Plus + strategy across the Corporate Category. You will typically support this delivery through leading on strategic and operational procurements (across indirect areas of spend), identifying savings opportunities, delivering value to stakeholders and championing best practice category management to enhance the commercial maturity across the Bank’s divisions and projects.
Role Requirements
Minimum Essential Criteria
- A full or partial qualified member of the Chartered Institute of Procurement (MCIPS)
- Strong working knowledge of the Public Contract Regulations (2015)
- Previous experience of Category Management i.e. strategic sourcing models & vendor management
- Some operational experience of leading high value, high profile strategic sourcing projects (deploying sourcing tools) in a complex and politically sensitive environment
- Ability to work autonomously and manage workload
- Experience of influencing stakeholders up to C-suite/E.D. level
- Knowledge of the sub categories within the Corporate category e.g. HR and Professional Services, Information Services and Subscriptions, Market Data Services
- Ability to develop innovative initiatives in conjunction with Procurement Category Lead to reduce bottom line costs and manage risk
- Strong commercial management experience
Desirable Criteria
- Good knowledge of eProcurement systems and functionality
- Experience of delivering in a brownfield procurement environment
- Experience of change management
- Experience of working in a heavily bias process and governance driven environment
- Experience of cross-functional working.
Remuneration
As a unique institution, we have a reward package which sets us apart from other organisations. It includes a competitive salary, but also a much wider offering, including a defined benefit pension and comprehensive flexible benefits. We also offer a working environment which fully supports individuals through flexible working, wellbeing initiatives including an on-site medical and dental unit.
This specific role offers a base salary of c. £45,000 – £49,000 (subject to experience and skillset).
The total package also includes:
- A non-contributory, career average pension giving you a guaranteed retirement benefit of 1/95th of your annual salary for every year worked. There is the option to increase your pension (to 1/50th) or decrease (to 1/120th) in exchange for salary through our flexible benefits programme each year. The current cost to the Bank of providing this pension is 35% of your salary.
- A discretionary performance award based on a current award pool and target award of 10%, with a maximum potential award of 25%
- A 7% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits
- 25 days annual leave with option to buy up to 13 additional days through flexible benefits
- Private medical insurance and income protection insurance.
Please click the apply button to find out more and apply.
Closing date: 1 April 2020
