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Senior Procurement Specialist

London, , United Kingdom

Job Description:

Job Title: Senior Procurement Specialist

LOB: CAO / International Procurement / International Global Corporate Services

Corporate Title: VP

Location: London

The International Global Corporate Services team are looking for a Senior Procurement Specialist to join their department in the London office.  As a Senior Procurement Specialist, you will be responsible for negotiating mid-to high-level complexity deals for FLU/CF’s outside of GT&O (GHR, CFO, GBAM, Audit, Legal & Risk Management) focusing on non-technology categories. This includes identifying the critical elements of a deal and developing a procurement strategy, which best serves the interests of Bank of America and drives value to the enterprise.

When completing an assigned deal, the Senior Procurement Specialist is responsible for the quality of the deal, including process adherence, deal substance, and accurate data capture. Viewed as a trusted advisor by the business stakeholders, the Senior Procurement Specialist is expected to have subject matter expertise in diverse commodity areas and to frequently support the development of category strategies. Aside from supporting the procurement of goods and services, a Senior Procurement Specialist may also support in effectively implementing the Third Party Policy, including the effective use of third parties

Responsibilities:

  • Negotiate contracts in accordance with best practices, assists the business owner in creating a SOW/SLA, providing clarity and addressing all applicable requirements

  • Understand and adhere to Global Procurement processes and policies

  • Able to use persuasion to build group consensus and resolve challenging situations

  • Assist in leading a project team in the development of complex proposal documents and is proficient in the objective analysis of proposal responses, the identification on non-conforming items and the overall evaluation of potential service providers

  • Help structure elements of an RFP (technical, contractual, schedule and cost) in order to ensure that uniformed bids are received

  • Capable of influencing the category strategy to achieve business goals and objectives

  • Is a practitioner of minimizing risk, attaining best value (cost saves), and providing complete solutions

  • Help identify and escalate risks and issues to the appropriate governance routines

  • Analyse business level of adherence within program scorecards in order to identify potential themes and issues

  • Quickly adapt to changes within the Procurement Program and be able to help reinforce changes within the business stakeholders

  • Balance being an advocate for the Procurement Program and representing legitimate concerns from business stakeholders

  • Work routinely with risk partners (Legal, Compliance, Ops, Info Sec, etc.) in negotiating deals and in managing outsourcing risk

  • Assist business in providing documentation/evidence when responding to audit and/or regulatory inquiries

  • Consistently provide a high level of service by establishing and clearly communicating mutual expectations, developing an understanding of business needs, and demonstrating competency and consistency in meeting commitments

  • Builds broad-based business relationships and partnerships across the organization, skilfully influences peers and colleagues to promote and sell ideas, and proactively surfaces and resolves conflict with minimal noise

  • Leverages organizational skills to monitor work and keep it on track to meet or exceed commitments and consistently provides updates to the concerned parties

The Team:

International procurement in Bank of America consists of a collaborative team divided over three regional locations:

  • EMEA

  • APAC

  • LATAM

The EMEA Procurement team is a dynamic and established team based in London supporting the enterprise across the EMEA region. The team is divided into “tech” and “non-tech” teams although there are synergies between the two teams driving collaboration and coverage as applicable. There will be continuous training and development opportunities.

Core Skills:

  • Significant experience of sourcing (and preferably operational knowledge) of non-technology categories/services e.g. human resources (benefits, talent acquisition & training), financial & professional services.

  • Legal experience in negotiating contractual terms & conditions and commercials

  • Previous experience, ideally within the Financial Services Industry, preferred, but not mandatory

  • Have experience managing outsourcing and/or third party risk

  • Self-starter, with capability of working autonomously across multiple procurement projects is essential

  • Working knowledge of relevant outsourcing laws, rules, and regulations

  • Have experience negotiating third party contracts

  • Sound commercial awareness and good analytical and research skills

  • Comfortable with Sourcing systems (ideally Ariba and/or GEP) spreadsheets, presentations and project management

  • Excellent communicator at all levels

  • Able to build and manage relationships with business partners across various teams

  • Proactive, conscientious and high level of attention to detail

  • Exemplifies time management skills,  able to work independently, manage concurrent projects, set goals, and prioritise focus

  • Proven ability to communicate, partner, and influence across a matrix organization

  • Has a desire to learn, positive attitude, and be flexible and creative in job execution

Bank of America

Every day, across the globe, our employees bring a commitment to our purpose and to driving responsible growth by living our values: deliver together, act responsibly, realize the power of our people and trust the team. A key aspect of driving responsible growth is doing so in a sustainable manner, a critical pillar of which is being a great place to work for our teammates.

In line with these values, in EMEA we have 9 Employee Networks, a wide range of Sports & Social clubs, and other development and networking opportunities so that you can enjoy a range of experiences and connect with colleagues across the bank. We also offer exclusive discounts to some of the most iconic cultural experiences for you to enjoy in your spare time outside of work. Learn more about our benefits here.

Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer, and ensure that no applicant is subject to less favourable treatment on the grounds of gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements. As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.

Job Band:

H5

Shift: 

Hours Per Week:

35

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Job Title: Senior Procurement Specialist

LOB: CAO / International Procurement / International Global Corporate Services

Corporate Title: VP

Location: London

The International Global Corporate Services team are looking for a Senior Procurement Specialist to join their department in the London office.  As a Senior Procurement Specialist, you will be responsible for negotiating mid-to high-level complexity deals for FLU/CF’s outside of GT&O (GHR, CFO, GBAM, Audit, Legal & Risk Management) focusing on non-technology categories. This includes identifying the critical elements of a deal and developing a procurement strategy, which best serves the interests of Bank of America and drives value to the enterprise.

When completing an assigned deal, the Senior Procurement Specialist is responsible for the quality of the deal, including process adherence, deal substance, and accurate data capture. Viewed as a trusted advisor by the business stakeholders, the Senior Procurement Specialist is expected to have subject matter expertise in diverse commodity areas and to frequently support the development of category strategies. Aside from supporting the procurement of goods and services, a Senior Procurement Specialist may also support in effectively implementing the Third Party Policy, including the effective use of third parties

Responsibilities:

  • Negotiate contracts in accordance with best practices, assists the business owner in creating a SOW/SLA, providing clarity and addressing all applicable requirements

  • Understand and adhere to Global Procurement processes and policies

  • Able to use persuasion to build group consensus and resolve challenging situations

  • Assist in leading a project team in the development of complex proposal documents and is proficient in the objective analysis of proposal responses, the identification on non-conforming items and the overall evaluation of potential service providers

  • Help structure elements of an RFP (technical, contractual, schedule and cost) in order to ensure that uniformed bids are received

  • Capable of influencing the category strategy to achieve business goals and objectives

  • Is a practitioner of minimizing risk, attaining best value (cost saves), and providing complete solutions

  • Help identify and escalate risks and issues to the appropriate governance routines

  • Analyse business level of adherence within program scorecards in order to identify potential themes and issues

  • Quickly adapt to changes within the Procurement Program and be able to help reinforce changes within the business stakeholders

  • Balance being an advocate for the Procurement Program and representing legitimate concerns from business stakeholders

  • Work routinely with risk partners (Legal, Compliance, Ops, Info Sec, etc.) in negotiating deals and in managing outsourcing risk

  • Assist business in providing documentation/evidence when responding to audit and/or regulatory inquiries

  • Consistently provide a high level of service by establishing and clearly communicating mutual expectations, developing an understanding of business needs, and demonstrating competency and consistency in meeting commitments

  • Builds broad-based business relationships and partnerships across the organization, skilfully influences peers and colleagues to promote and sell ideas, and proactively surfaces and resolves conflict with minimal noise

  • Leverages organizational skills to monitor work and keep it on track to meet or exceed commitments and consistently provides updates to the concerned parties

The Team:

International procurement in Bank of America consists of a collaborative team divided over three regional locations:

  • EMEA

  • APAC

  • LATAM

The EMEA Procurement team is a dynamic and established team based in London supporting the enterprise across the EMEA region. The team is divided into “tech” and “non-tech” teams although there are synergies between the two teams driving collaboration and coverage as applicable. There will be continuous training and development opportunities.

Core Skills:

  • Significant experience of sourcing (and preferably operational knowledge) of non-technology categories/services e.g. human resources (benefits, talent acquisition & training), financial & professional services.

  • Legal experience in negotiating contractual terms & conditions and commercials

  • Previous experience, ideally within the Financial Services Industry, preferred, but not mandatory

  • Have experience managing outsourcing and/or third party risk

  • Self-starter, with capability of working autonomously across multiple procurement projects is essential

  • Working knowledge of relevant outsourcing laws, rules, and regulations

  • Have experience negotiating third party contracts

  • Sound commercial awareness and good analytical and research skills

  • Comfortable with Sourcing systems (ideally Ariba and/or GEP) spreadsheets, presentations and project management

  • Excellent communicator at all levels

  • Able to build and manage relationships with business partners across various teams

  • Proactive, conscientious and high level of attention to detail

  • Exemplifies time management skills,  able to work independently, manage concurrent projects, set goals, and prioritise focus

  • Proven ability to communicate, partner, and influence across a matrix organization

  • Has a desire to learn, positive attitude, and be flexible and creative in job execution

Bank of America

Every day, across the globe, our employees bring a commitment to our purpose and to driving responsible growth by living our values: deliver together, act responsibly, realize the power of our people and trust the team. A key aspect of driving responsible growth is doing so in a sustainable manner, a critical pillar of which is being a great place to work for our teammates.

In line with these values, in EMEA we have 9 Employee Networks, a wide range of Sports & Social clubs, and other development and networking opportunities so that you can enjoy a range of experiences and connect with colleagues across the bank. We also offer exclusive discounts to some of the most iconic cultural experiences for you to enjoy in your spare time outside of work. Learn more about our benefits here.

Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer, and ensure that no applicant is subject to less favourable treatment on the grounds of gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements. As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.

Learn more about this role

Full time

JR-21057564

Band: H5

Manages People:

Manager:

Talent Acquisition Contact:

Peter Brown

Referral Bonus:

0

Street Address

Primary Location:
2 KING EDWARD ST, London, EC1A 1HQ