Head of Group Procurement and Supplier Management

Rathbones provides individual investment and wealth management services for private clients, charities, trustees and professional partners. We have been trusted for generations to manage and preserve our clients’ wealth.

Our tradition of investing and acting responsibly has been with us from the beginning and continues to lead us forward. Our ambition is to be recognised as the UK’s most responsible wealth manager.

We see it as our responsibility to invest for everyone’s tomorrow. That means doing the right thing for our clients and for others too. Keeping the future in mind when we make decisions today. Looking beyond the short term for the most sustainable outcome. This is how we build enduring value for our clients, make a wider contribution to society and create a lasting legacy. Thinking, acting and investing responsibly.

Job Title: Head of Group Procurement & Supplier Management

Department: Oversight & Control

Location: Liverpool

Contract Type:  Permanent

The Role

Operating within 1LOD, accountable for ensuring a consistent Group wide framework is in place to systemically identify, measure, mitigate, report, monitor & support the management of vendor/supplier management risk. Accountable for the Group vendor risk management framework and supporting procurement processes. Supporting all business entities within the Group, with supplier relationship management activities, helping to identify and drive value, performance, and operational efficiencies.

Outcomes of the Role

• To act as, and be acknowledged as, the subject matter expert on best practice on the full cycle of procurement/supplier relationship management processes for the Group; providing guidance and support to all business entities and business functions/areas.
• To support business areas with the end-to-end contracting process (initial & renewals) of key supplier relationships, including (but not limited to) negotiations on price, terms, service credits, SLAs/KPI, regulatory requirements. Working with, & ensuring, that key stakeholders (Data Protection, BC/Ops Resilience, InfoSec, Corporate Responsibility) are involved / considerations are taken into account, as required.
• To proactively develop procurement/vendor risk management processes, roll-out changes across all business areas; providing supporting training and awareness to ensure that the model and operational processes are understood and embedded.
• Assist business areas in seeking opportunities for cost reduction, supplier consolidation, process efficiencies / delivering the best commercial arrangement without compromising on quality, service or risk appetite.
• Responsible for ensuring that regulatory requirements are met, including the management of the Group/Entity Outsourcing Register(s).

Strategy

• Develop a deep understanding of the Group’s business model & service offerings, in order to provide the appropriate level of guidance & support covering procurement & vendor risk management propositions; acting as a trusted advisor to key stakeholders.
• Develop/review/implement the Group’s procurement & vendor risk mgt strategy & policy.
• Ensure Board risk appetite & tolerance for vendor risk mgt are monitored & maintained.
• Develop or review & monitor action plans that strengthen Group wide vendor risk mgt.
• To keep abreast of industry and profession best practice, as well as any regulatory changes vendor risk management; understand the impact on the Group & provide updates to senior management.

Procurement Activities

• Responsible for the design, implementation & continuous improvement of a procurement strategy for the Group; ensuring that there is a clear framework in place to ensure suppliers are on-board/renewed/terminated in line with commercial and regulatory expectations and standards.

Contract Management Activities

• Responsible for the establishment, and ensuring the maintenance of, a central contract database; ensuring all key contracts are captured/held centrally; & capturing required regulatory, and key commercial information which support on-going relationship management, as well as forward planning activities.

Supplier Relationship Management Activities

• Working with all business areas, supporting the design & development of key performance indicators/measures (KPIs); providing insight of good practice.
• Advising all business areas on how to use appropriately set KPIs to support supplier oversight & management and improve supplier performance/deliverables.
• Responsible for the establishment and on-going maintenance of an Outsourcing (including Cloud) register; coordinating required data inputs from key stakeholders and ensuring regulatory (including EBA guidelines) are met.
• Supporting the management of risk across the supply chain, helping key stakeholders ensure that arrangements are in place to protect the Group from risk, whilst delivering optimum value from the supply chain.

Assurance, Training & Awareness Activities

• Responsible for the development, and rollout, or assurance activity which demonstrates the Group’s adherence to policy/process, and regulatory requirements.
• Responsible for the creation, maintenance & update of guidance materials to support all business areas with all types of procurement activity.
• Responsible for developing, supporting the rollout of training & awareness activities, to support all business areas with their understanding of Group procurement & vendor risk management framework, and associated processes.

Risk Management

• Working with 2LOD Operational Risk, ensure that a consistent framework is in place to systemically identify, measure, mitigate, monitor & manage vendor risks.
• Embed a strong risk culture, where managing risk is simply part of how we work.
• Ensure adherence to the risk management policy and procedures, including expected standards of internal control.

Reporting

• Report monthly to the Director of Group Shared Services on areas of accountability, highlighting areas of concern, key risks & salient issues.
• Produce an annual supplier report for the Board (or nominated forum).
• Participate, engage & produce regular updates (when requested) to senior management, including the GEC, Executive Risk Committee & Group Risk Committee, on procurement/ vendor risk management risks & issues; including the Group’s adherence to regulatory requirements.

Delegation

• Responsible for taking all reasonable steps to apportion responsibilities clearly to direct reports, & ensure that all delegates have the required competence, knowledge, skills & time to discharge their responsibilities.
• Lead, motivate & manage direct reports, support a no-blame culture & high-quality performance, & ensure that suitable resources are utilised to perform assigned activities.

Professional Development

• Take responsibility for ensuring personal continuing professional development.
• Ensuring that the development & training needs of direct reports are monitored, appraised & met. Develop direct reports with a view to contingency & succession.
• Fully meet the requirements of Rathbones’ Competencies & Values.

Other

• Support to the function budgetary process, headcount planning, & expenditure tracking for relevant area of responsibilities.
• Contribute towards the continuing development of the Shared Services, as well as the wider Group by establishing and participating in projects, committees and other activities as required from time to time, as directed by the Director of Group Shared Services, and/or Group COO.
• Any other duties as required.

Knowledge, Skills and Experience

• Must have worked within a similar role, with a minimum of 5 years experience.
• Financial services industry exposure desirable.
• Must have a good understanding of the FCA, PRA & EBA expectations and regulations in relation to outsourcing and vendor risk management in Financial services industry.
• Experience of contractual negotiations, including multi-entity negotiations.
• PC literate, in particular knowledge of MS Office to create reporting dashboard and status reports.
• Good organisation and time management skills.
• Excellent and persuasive communicator, both verbally and in written form.
• Ability to develop, build and maintain relationships with both internal and external stakeholders.
• Proactive stance towards continual professional development.

Life at Rathbones

We aim to become an employer of choice for the wealth management sector, to achieve this we are working hard to build a diverse, equal, and inclusive workplace that motivates, develops and embraces the strengths of all our colleagues. Being part of Rathbones means you will join a team of passionate professionals in a successful culture that cares for its people. At Rathbones, we provide meaningful work, opportunities, and a voice to all.

We are committed to building a team that is made up of diverse skills, experiences and abilities and encourage applications from all backgrounds. We welcome individuals who share our values – those that are passionate about client service, operate with the highest levels of integrity and have a strong results focus.