Senior Buyer - Corporate Procurement

Team and Role Overview

LSEG recently acquired Refinitiv. An integration programme is currently underway to execute the combination of the two companies and deliver organisational and procurement synergies. LSEG is taking this opportunity to combine and transform both procurement functions into a single, world class Group Procurement function.

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 new Group Procurement organisation:

• Supplier spend c £2BN and c. 5,000 suppliers
• Team structured around:
  • Three towers aligned to the master categories of spend (Technology, Services and Corporate), focused on category management, sourcing, supplier relationship management and business partnering
  • A Strategy & Performance centre, enabling function to drive and implement the strategy of the Group Procurement function, best in class procurement policy and processes
• 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 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.

This role sits in the Corporate, reporting to the Category Lead for Communications & Marketing, Travel & Events, who is responsible for the global procurement activities including engagement and ongoing management of third-party suppliers, the sourcing and vendor strategy, and roadmap for the Category.

This Category represents a spend of c.£132m.

The role will perform a combination of sourcing, supplier management and business partnering activities, with an emphasis on sourcing, supporting the Corporate team.

Although primarily aligned to the above category circa 50%it is expected that the remaining 50% will be to support the wider Corporate tower.

Key Interfaces

• With line management (Category Lead for Communications & Marketing, Travel & Events)
• Head of Corporate
• Dotted line management (other Category Leads)
• Category Managers and other buyers
• Group Procurement Centre of Excellence and Shared Services teams
• Business: supplier business owners and budget holders
• Key partnering functions: Communications & Marketing, Corporate Operations, HR, Legal, Finance, Risk, Property.

Key Responsibilities

Support the delivery of the category strategy and deployment of the supplier relationship management program

Contribute to the development of basic sourcing strategies, including identifying risks, key outputs and deliverables. Lead sourcing and negotiation for low to medium spend 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. Engage stakeholders to ensure alignment and approval of all contracts. Engage the appropriate business stakeholder (as required) to get PO raised. 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 depending on workload. Manage the PR/PO pipeline for the assigned Categories of spend

Review pipeline and Purchase Requisition queue and liaise with the Category Lead and relevant Category Managers

Ensure purchase requests 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

Ensure Category managers are kept informed

Keep abreast of market and industry developments. Where appropriate able to make recommendations on alternate sources of supply to inform specifications

Stakeholder engagement

Engage with key stakeholders across the business and key functions to progress queries and act as a point of procurement contact, with support from the Category Lead and other Category Managers Engage with budget-owners to obtain key information and explain procurement processes in line with agreed process and procedures. Deal with stakeholder queries escalating as appropriate Engage with key functions to obtain information and complete necessary actions such as supplier segmentation form

Managing BAU

Information technology

Maintain Procurement systems and tools (e.g. pipeline management tool, savings tracker, supplier and contract databases, Category spend metrics)

Ensure that purchasing, pricing and supplier master data is kept up to date on the relevant IT systems so as to maintain procurement and planning efficiencies

Assess the value added by IT systems to resources employed (e.g. assess benefits of new sourcing solutions), support the design, implementation and management of procurement systems

Contract management

Ensure that relevant contracts are in place for key suppliers as assigned and supported by the Category Lead.

Monitor contract performance and able to identify when corrective action needed

Identify where it is necessary to vary a contract to deliver continuous improvement, draft robust variations and ensure proper approvals are sought

Provide assistance to the business and suppliers across the end to end sourcing process, i.e. reviewing purchase orders, 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

Candidate Profile

• Experience in buying / procurement
• Commercially minded and proficient negotiator
• Ability to liaise with and manage suppliers
• Experience in market and category analysis
• Ability to assess, prioritise workload and meet deadlines
• Strong IT skills (Office programs especially, Procurement systems desirable), ability to provide management information to assist sourcing and contract management process
• Ability to build relationships, influence and act as an expert across the organisation up to senior management level
• General analytical, problem solving, and decision-making skills
• Pro-active behaviour that demonstrates initiative and positive work ethic to ensure activities are delivered to the required time, budget and quality
• Maximise opportunities, i.e. challenges ways of working, adopts Group practices, seeks and provides information and clarification
• Teamwork - ability to work with other category teams, both a local and an off-shore to deliver services to stakeholders
• Strong communication skills (written and verbal)
• Educated to degree level
• Previous experience of Communications & Marketing an advantage Previous experience of negotiating Software as a Service contracts an advantage

At LSEG, we believe that creating a diverse and inclusive organisation is fundamental to the way we deliver on our promise – and our purpose. You’ll be part of an organisation of over 25,000 people, spanning 70 countries. We recognise the individual perspectives each of our colleagues brings, and our diverse workforce is one of our greatest strengths. In supporting collaboration and creativity and encouraging new ideas across a diverse and inclusive workforce, we can improve how we are driving financial stability, empowering economies and enabling customers to create sustainable growth.

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

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