ABOUT US: LSEG (London Stock Exchange Group) is more than a diversified global financial markets infrastructure and data business. We are dedicated, open-access partners with a dedication to excellence in delivering the services our customers expect from us. With extensive experience, deep knowledge and worldwide presence across financial markets, we enable businesses and economies around the world to fund innovation, manage risk and create jobs. It’s how we’ve contributed to supporting the financial stability and growth of communities and economies globally for more than 300 years. Through a comprehensive suite of trusted financial market infrastructure services – and our open-access model – we provide the flexibility, stability and trust that enable our customers to pursue their ambitions with confidence and clarity. LSEG is headquartered in the United Kingdom, with significant operations in 65 countries across EMEA, North America, Latin America and Asia Pacific. We employ 25,000 people globally, more than half located in Asia Pacific. LSEG’s ticker symbol is LSEG. OUR PEOPLE: People are at the heart of what we do and drive the success of our business. Our values of Integrity, Partnership, Excellence and Change shape how we think, how we do things and how we help our people fulfil their potential. We embrace diversity and actively seek to attract individuals with unique backgrounds and perspectives. We break down barriers and encourage teamwork, enabling innovation and rapid development of solutions that make a difference. Our workplace generates an enriching and rewarding experience for our people and customers alike. Our vision is to build an inclusive culture in which everyone feels encouraged to fulfil their potential. We know that real personal growth cannot be achieved by simply climbing a career ladder – which is why we encourage and enable a wealth of avenues and interesting opportunities for everyone to broaden and deepen their skills and expertise. As a global organisation spanning 65 countries and one rooted in a culture of growth, opportunity, diversity, and innovation, LSEG is a place where everyone can grow, develop and fulfil your potential with meaningful careers.
ROLE PROFILE:
Group Procurement is responsible for managing third-party supplier engagements, partnering with the business to drive high performance and sustainable value from our supplier relationships. We aim to make LSEG easier and more attractive to do business with and we consider our suppliers as a source of competitive advantage and not just about cost.
We operate a business partnering and supplier relationship management (SRM) model, aligned to stakeholder groups and spend categories, ensuring value through early and strategic engagement and insightful vendor spend analytics.
Some key characteristics of the Group Procurement organisation:
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Key hubs for the category teams in London, Bangalore, and New York with a small amount of decentralised activity to support local markets which are in various global locations including Europe and Asia.
The purpose of the role is to support the Category Lead and Category Managers with the delivery of the small-scale renewals supporting all category strategy and deployment of the supplier relationship management program, ensure quality issues are resolved with the supply base and monitor the PR/PO pipeline.
Suppliers spend c £2BN and c. 5,000 suppliers.
The role will perform a combination of sourcing, supplier management and business partnering activities within his area of responsibility, with an emphasis on sourcing.
Although primarily aligned to the Software Renewals, this role may be required to support other sub teams with Group Procurement.
SUB FUNTIONS - Software Renewals
Renewals team is structured around & the main operating functions are:
Five towers aligned to the master categories of spend (Product Development and Enablement, Sales, Operations & Marketing Technology, Corporate Functions Technology, Technology Infrastructure and Cyber & Cloud.), focused on category management, sourcing, supplier relationship management and business partnering.
Service Now Tickets :-
We will receive a new software request from the stakeholders, and we will have to get the Quotes from relevant suppliers keeping in mind a strategy & performance centre, enabling function to drive and implement the strategy of the Group Procurement function, best in class procurement policy and processes.
SOP requests (Global Sourcing Purchase Requests)
We will be raising Technology requests for Hardware & Software Procurement reviewing PR/POs, ensuring timely delivery of goods and services, ensuring an excellent service is provided from within Group Procurement and other key stakeholders. Escalate when appropriate.
Basic Check on the quotes and order forms like Price, Need by Date, End to End dates, Product Description, SKUs, Entity names & unit price is required while creation of PR (Purchase Requestions)
This role sits within Shared Services under Strategy & Performance with a strong functional reporting line to the Technology Group Procurement. The Software renewals Procurement Team is responsible for global procurement activities which includes engagement and ongoing management of third-party suppliers, sourcing, and vendor strategy, for the categories in scope. E.g., Software & hardware renewals etc. This Category represents a spend of .£ 5.16m.
Provide assistance to the business and suppliers across the end to end sourcing process, i.e. reviewing PR/POs, facilitating exceptions such as payment difficulties and ensuring timely delivery of goods and services, ensuring an excellent service is provided from within Group Procurement and other key stakeholders. Escalate when appropriate
Actively promote continuous improvement by challenging process and procedure to identify and implement valid improvements.
Understand the Group Policies and the Group Procurement approach to IR35. Provide assistance to the Category Managers and Business to identify and appropriately resolve issues.
Budget Responsibility: N/A.
Direct Reports: None.
Indirect Reports: None.
Key interfaces:
With functional line management: Category Director within Corporate
With line management: Shared Services
Category Managers and other buyers
Vendor Manager
Group Procurement Centre of Excellence and Shared Services teams
Business: Supplier business owners and budget holders
Contribute to the development of basic sourcing strategies, including identifying risks, key outputs, and deliverables for categories within remit.
Review pipeline and Purchase Requisition queue and liaise with the Category Director and relevant Category Managers.
Lead sourcing and negotiation for low to medium spend new agreements or renewals within own scope and escalating those that are not, analysing financial and commercial structure, engaging Legal as required and ensuring correct terms and conditions are applied
Where a renewal within role scope is required, engage stakeholders to ensure renewal is required and scale is accurate
Support Category Leads or Category Managers with SRM activities, manage allocated supplier relationships
Support sourcing activities across the wider team (Category Leads or Category Managers in other categories), as required
Assist Category Lead and Category Managers with PR/PO approvals a) Ensure PRs meet required standards - i.e. approval process has been followed, a fully signed LSEG standard contract and statement of work (if applicable) is in place, due diligence has been completed appropriately on new suppliers b) Ensure Category managers are kept informed
Keep abreast of market and industry developments within role scope. Able to make recommendations on
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