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Procurement Manager

Head Office|Letchworth

We have an exciting new opportunity for a Procurement Manager to join our fast-paced Operations team.

Redwood’s staff are pivotal in delivering our special customer experience. We are a team of talented individuals who make a genuine difference to the future of business lending and savings.

Our inhouse culture has been carefully cultivated to support curious minds within a collaborative workforce. 

As a fast-developing Challenger Bank, we are always seeking ambitious, loyal and dedicated people who have diverse backgrounds, experiences and skills. 
We have an exciting new opportunity for a Procurement Manager to join our fast-paced Operations team.

The individual will be responsible for driving the sourcing strategy as well as owning and driving the Supplier Management Framework for Redwood.

The role will include the ownership of the procurement, outsourcing and supplier management processes, including commercial negotiations of new contractual and commercial relationships. The role requires excellent procurement capabilities, commercial leadership, negotiating skills and strong supplier management experience.

Main Responsibilities of the role include:

•    Establishing best practice governance and processes across all procurement, contract management and supplier management activity; with a clear aim of delivering value and reducing risk across the Bank
•    Interpreting any Regulatory requirements for supplier risk management, reviewing and challenging existing practices. Look to design and implement a rigorous operating model for ongoing supplier management
•    Managing and optimising a sourcing strategy for the organisation
•    Defining the sourcing and outsourcing processes for the organisation
•    In partnership with business functions, running appropriate supplier selection processes to select the best products and services for the Bank across all spend categories
•    Responsible for the Service Ownership model where the business owns the 3rd party supplier relationships under the guidance and control of Supplier Management policy
•    Working with internal Service Owners to ensure that services are being delivered in line with contractual obligations and resolve any relationships where there are significant issues
•    Carrying out periodic cost reviews to determine if contracts remain value for money
•    Actively promoting the benefits of the procurement capability, ensuring the best use of procurement practice for all third-party engagements & responsible for disseminating procurement processes and policies internally
•    Developing and implementing an appropriate supplier risk assessment framework to ensure ongoing risk assessment is handled in the appropriate time frame based on third party risk tier, and supporting internal Service Owners to deliver on-going supplier risk management processes
•    In conjunction with compliance, legal & finance, looking to mitigate risks to the business by keeping abreast of legal and regulatory changes to ensure no supplier failures occur
•    Ensuring all policy and regulatory requirements are adhered to by operating within an agreed compliant framework, specifically PRA, FCA and EBA guidelines
•    Maintaining the contracts master list. 

Applicants should be educated to degree standard or with equivalent professional experience. At least five years’ experience as Vendor/Procurement Manager within financial services. The application should also possess:

•    Specific experience of negotiating, establishing, and managing material outsourcing in line with regulatory standards
•    Experience in negotiating contracts & working with legal teams on drafting
•    Experience in building strong supplier risk frameworks

If you are looking for a career where you will be respected as an individual and valued for the contributions you make, then it is time to join Redwood Bank.

To find out more or to apply for this role, please email your CV and covering note to our HR team.

Send an email to our HR team

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