Job Description: Corporate Title: Vice President Location: London Line of Business Chief Administration Office
Want to join a dynamic, high-energy working environment? We are currently looking for a talented Procurement Specialist to join our team, specialising in Partner Relationships, supporting in the end to end management of procurement and related risk management activities.
You will be responsible for the sourcing of deals where the Bank has relationships deemed as Partner, e.g. mutual relationships. These will include Cash and Securities services, Financial Market Utilities, Brokers, Trading Execution and Exchanges, over a multitude of countries.
As a Senior Procurement Specialist, you are able to negotiate mid to high level complexity agreements from the inception to completion and regularly obtain cost savings. You will perform market research to obtain market knowledge, use experience to develop a procurement strategy which best serves the interests of the LOBs.
You will possess the skills required to refine and detail requirements documents. As you are considered a trusted advisor by LOBs, you shall have the knowledge to maximise the competitive marketplace even when faced with the source-directed mentality, and also has the ability to achieve significant cost savings in sole-source procurement situations.
You will handle the quality of assigned deals including process adherence, substance of the deals and accurate data capture. You will frequently support the development of category strategies and may support LOB in effectively implementing policy, including the LOB's effective use of third parties.
What will your main responsibilities involve?
Leading a team in the building of complex proposal documents and is proficient in the objective analysis of proposal responses, the identification on non-conforming items and the interview of potential service providers
Structuring all elements of an RFP (technical, contractual, schedule and cost) in order to ensure that uniformed bids are received
Developing processes for selection criteria and weighting of applicable criteria
Performing effective cost price analysis on complex proposals and be able to effectively communicate inconsistencies with to the bidders
Defining and influencing the supply strategy to achieve business results
Maintaining a positive and professional attitude towards work assignments, LOBs, co-workers and suppliers.
Consistently providing an elite service by establishing and clearly communicating mutual expectations, developing an understanding of LOB needs, and demonstrating competency and consistency in meeting dedications
Building Partnerships - Builds broad-based business relationships across the organisation. Skilfully influences peers and colleagues to promote and sell ideas. Dedicatedly surfaces and resolves conflict with minimal noise
Coordinating and leading complex sourcing event projects, will handle multiple events concurrently
What skills and qualifications will you ideally possess?
An experienced Procurement manager with experience of souring Partner relationships
In depth knowledge of Technology category, supply base and market conditions and deep understanding of sourcing principles
Demonstrable interpersonal skills; experience collaborating and influencing across a matrix organisation with ability to communicate concepts and ideas both verbally and in written form, including, but not limited to, e-mails, narratives in Ariba, white papers and presentations
Experience sourcing for Cash and Security Partners, Financial Market Utility categories, Trading Execution and Support Services
Previous experience, ideally within the Financial Services Industry
Self-starter, with capability of working autonomously across multiple procurement projects
Have a recognised diploma and/or working towards a full professional qualification such as CIPS
Excellent working knowledge of UK law and meaningful procurement legislation
Sound commercial awareness and good analytical and research skills
Comfortable with Sourcing systems (ideally Ariba) spreadsheets, presentations and project management
Dedicated, conscientious and high level of attention to detail
About Bank of America Merrill Lynch Bank of America is one of the world's leading financial institutions, serving individual consumers, small- and middle-market businesses, large corporations and governments with a full range of financial and risk management products and services. Bank of America Merrill Lynch is the marketing name for the global banking and markets businesses. The company has had a presence in EMEA since 1922. With offices in 23 countries on three continents, it offers an integrated and comprehensive set of products and services across Global Corporate and Investment Banking, Global Markets and Consumer Card, serving the needs of individual, corporate, institutional and government clients, combining the best of local knowledge and global expertise. Developing solutions for social and environmental challenges is at the core of Bank of America Merrill Lynch's responsibility platform. In more than 90 countries around the world, we partner with employees, clients and stakeholders to help make financial lives better.
Apply If you're interested in this opportunity please send your details to us by applying online. 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 mindset 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. As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.