Strategic Vendor Manager

Vendor Management ensures value and quality delivery for LSEG from Key Strategic Vendors and Managed Service Partners through effective engagement and consistent processes 
 
Key Responsibilities 
The Strategic Vendor Manager's responsibility is to: 

• Ensure that the vendor delivers value for money whilst minimising risk for the services and products allocated to the Global Capability & Operational Leads within the Engineering Division.

• Ensure that the full contract life cycle, from Tendering through Delivery / Acceptance to Termination, is fully managed 

• Establish effective financial management that will: 

• Ensure payments to Vendors are correct and timely 

• Usage trends that impact costs are understood 

• Cost efficiencies are realised 

• Effective forecasting is implemented 

 
Other essential responsibilities include: 
 
Pre-Contract 

Work with the Capability Owner, Technical leads to understand and align vendor contracts with Technology Strategy 

Gather requirements and facilitate documentation of current state 

Facilitates exploration of alternatives to current products/Vendors 

Provide input to Business case 

Provide input in the negotiated terms such as Service Levels, Governance, Credits, Billing, Reporting 

Deal approvals via email for Purchase Order Creation 

 
Post-Contract 

Contract Management 

Ensure an operating rhythm is established with appropriate type of service provided by the vendor to ensure service / products are delivered to expectation. For some vendors this will entail ensuring service reviews and set up and attended by the correct individuals 

Be the point of escalation within the Engineering Division for contractual and / or commercial disputes / Service & Support issues (this excludes day to day incident resolution / management) 

Pro-actively manage contract terminations, closure, transfer and renewals. Vendor manager should demand challenge and perform due diligence prior to closures, renewal and termination of contracts, this activity should be performed in consultation with any appropriate key people such as the business 

Ensure changes to the contract are administered in line with change management processes and update all central repositories 

 
Control and Governance 

Develop a strategy plan for each vendor which will drive interaction and effective demand management. 

Ensure vendor database is maintained and up-to-date

Socialise Vendor Management’s programs and processes to Group Procurement, key people, and Finance 

Create focused vendor relationship strategies for critical vendors and encourage diversity within our vendor base 

Ensure that vendor performance is monitored, reported, tracked & reviewing performance using metrics to measure success according to the contract guidelines and account plans 

Designing and implementing continuous process and quality improvements (driving efficiency and effectiveness) within the vendor management program in conjunction with Global Capability Owner, Finance, and Procurement teams 

When required and appropriate facilitate vendor audits of LSEG and bench marking activities 

 
Policy and Process 

Ensure adherence to LSEG contracting processes and LSEG Group Procurement / Supplier management operating model 

Where appropriate ensure vendors & their teams are compliant with LSEG Third Party Risk Management, SOX, Logical Systems Access processes, Service Management (Change, Incident, Problem Management) processes 

Effective communication of a vendor management vision, strategy and business plan to all key people (internal) and vendors (external) 

Corporate advocacy of vendor management through relationship building, results delivery and effective communication to ensure vendor management is a core strategic lever for key people and Procurement teams, with measurable results 

 
Financial Control 

Budget ownership, approve and manage spend for Technology Vendors as part of the larger team 

Ensure processes are in place for the review and analysis of invoices which in turn will verify accuracy of charges and act as a checkpoint to validate charging 

Coordinates activities between Finance, Business & Vendor to ensure all invoices are raised & paid in accordance with vendor agreements 

Ensure LSEG payment terms are enforced, where applicable

Forecast cost for 3rd party supplier agreements together with high level understanding of spend with input from Capability Owners 

Ensure appropriate stakeholders are informed of contract additions / terminations of to enable correct budget forecasting 

Perform expense and cost benefit analyses related to technology products/services associated with cost savings/reduction initiatives, benchmark products/services, market and vendors, and make recommendation based upon analyses 

 
Required Knowledge & Experience: 

• Must have experience of Vendor Management/ Contract management. 

• Competency in ITIL and/or CIPS framework 

• Proven experience in Procurement / Vendor Management

• Global perspective with ability to act regionally and locally 

• Strong relationship building, communication and presentation skills 

• Excellent customer service and writing skills 

• Proven thought leadership in the areas of vendor management, governance and business processes 

• Experience with e-procurement tools, vendor scorecards, and customer surveying 

• Effective negotiation and strategic skills 

• Ability to handle multiple tasks successfully 

• Strong computer skills; proficiency in MS Word, Excel, PowerPoint and Outlook 

• Must be self-motivated, dynamic and able to work with minimal supervision 

 
Personal Attributes 

• Must be self-motivated, dynamic and able to work with minimal supervision 

• Global perspective with ability to act regionally and locally 

• Strong relationship building, communication and presentation skills 

• Excellent customer service and writing skills 

• Ability to handle multiple tasks successfully 

We are looking for intellectually curious people, passionate about the bigger picture of how technology industry is evolving, ready to ask tough questions and deal with complicated scenarios! The successful candidate will be able to demonstrate a history of leading by example, getting involved in the detail when necessary, and overcoming hurdles to deliver continuous improvement for organisations.

LSEG is a leading global financial markets infrastructure and data provider. Our purpose is driving financial stability, empowering economies and enabling customers to create sustainable growth.

Our purpose is the foundation on which our culture is built. Our values of Integrity, Partnership, Excellence and Change underpin our purpose and set the standard for everything we do, every day. They go to the heart of who we are and guide our decision making and everyday actions.

Working with us means that you will be part of a dynamic organisation of 25,000 people across 65 countries. However, we will value your individuality and enable you to bring your true self to work so you can help enrich our diverse workforce. You will be part of a collaborative and creative culture where we encourage new ideas and are committed to sustainability across our global business. You will experience the critical role we have in helping to re-engineer the financial ecosystem to support and drive sustainable economic growth. Together, we are aiming to achieve this growth by accelerating the just transition to net zero, enabling growth of the green economy and creating inclusive economic opportunity.

LSEG offers a range of tailored benefits and support, including healthcare, retirement planning, paid volunteering days and wellbeing initiatives.

We are proud to be an equal opportunities employer. This means that we do not discriminate on the basis of anyone’s race, religion, colour, national origin, gender, sexual orientation, gender identity, gender expression, age, marital status, veteran status, pregnancy or disability, or any other basis protected under applicable law. Conforming with applicable law, we can reasonably accommodate applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs.

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