Procurement Officer
Lloyd’s is the world’s leading insurance andreinsurance marketplace. We share the collective intelligence and risk sharing expertise of the market’s brightest minds, working together for a braver world.
Our role is to inspire courage, so tomorrow’s progress isn’t limited by today’s risks.
Our shared values: we are brave; we are stronger together; we do the right thing; guide what we do and how we act. If you share our values and our passion to build a future that’s more sustainable, resilient and inclusive, you’ll find a home at Lloyd’s – build a braver future with us.
Context
All leadership roles within Lloyd’s Insurance Company (LIC)have an integral part to play in the achievement of the strategy of the company and will contribute to Lloyds’ Europe becoming a brand and a business that is admired, recognised and respected.LIC will be known for its integrity and will be a place where talented, diverse and socially responsible employees feel proud to work. This leadership role will practice and promote the principles of inclusive leadership and respect the values of diversity. LIC as an insurance/ reinsurance company, operating as a legal separate entity with its own P&L, has its own governance structure with supervisory measures to ensure the efficient and prudent management of its business and employees.
Role Purpose
This role is responsible to support the development, delivery and implementation of the Supplier Management Framework, to provide coordination and procurement expertisein the day-to-day activities of the Partnership Management team with a focus on maximising value from all third-party arrangements and mitigating operational risk.
Principal Accountabilities
Responsible for designing the supplier management approach and aligning to Group Procurement policies across the European Economic Area (EEA)
Implement robust governance and oversight of all vendor arrangements, maintaining a framework of processes, policies, systems and activities required for end-to-end management of supplier relationships
Responsible for overseeing compliance to the global Procurement Policy and Supplier Risk Framework across the Branches, in order to manage and mitigate supplier risk, ensure consistency with industry best practice and satisfy regulatory requirements (where applicable)
Providing expert, authoritative advice to key stakeholders on all aspects of supplier and contract management strategy and practice through effective training & guidance materials
Overseeing and performing supplier relationship management activities in line with Group Procurement best practice and regulatory requirements; this will include overseeing a robust supplier management programme encompassing management of contract obligations and service levels, supplier due diligence, renewal and exit planning
Leading all supplier onboarding and due diligence assessments of new suppliers
Responsible for the effective management of key procurement projects and for identifying opportunities to drive improvements
Administration management and development of the supplier contracts management system
Leading strategic and operational supplier reviews primarily with Critical/High-Risk Suppliers
Supporting the implementation and delivery of a supplier performance management programme to ensure adherence to contractual obligations, KPIs and SLAs and to develop other aspects of the supplier relationship.
Leadership expectations
Demonstrate an awareness of the responsibilities of the role
Subject Matter Expert of Supplier activities
Challenging of contract owners to ensure that the Supplier framework is complied with
Deliver responsibilities in line with all the Supplier Management Framework as necessary and providing input to improve the supplier processes of Lloyd’s Insurance Company.
Management of Risk and Internal Controls
The role holder is expected to contribute to an open and transparent culture of risk management and demonstrate a strong awareness of the risks that should be managed within the responsibilities of the role.
Observation of Internal Controls: ensure all control failures are highlighted to the Head of Partnership Management, so that they can be reported. Ensuring all internal controls remain current and effective.
Role Dimensions
Report to the Head of Partnership Management
This is a single Procurement officer role, being part of wider team of 6located in Brussels
The role forms part of the service solution for Lloyd’s market access for both reinsurance and insurance in EU & EEA. The remit and regional scope of the role may evolve as part of Lloyd’s Market Access Strategy.
Skills Knowledge and Experience
Skills:
Experience in the design and oversight of the supplier management framework
Strong commercial instinct and communication skills
Good organisational skills and ability to multitask
Strong IT skills, in particular Excel, Word and SharePoint
Understanding of risks and issues that impact the supply management process
Excellent negotiation and analytical skills
Ability to engage, communicate and build trusted relationships in the internal and external business areas which the role supports
Analytical skills with the ability to collect, organise and analyse information with attention to detail and accuracy
Ability to work at own initiative with minimum supervision
Result oriented.
Knowledge:
Understanding of Procurement or Contract management processes and best practice
Fluency in written and spoken English required.
Experience:
Working within a contract management or Procurement function
Strong business partnering experience
Management of third parties and internal stakeholders
Demonstrable commercial awareness and experience
Analytical thinker, with good reasoning and problem-solving skills
Developed management and organizational skills, able to work with teams across multiple business areas.
