Senior Procurement Specialist

  • Competitive
  • London, England, United Kingdom London England GB
  • Permanent, Full time
  • Bank of America Merrill Lynch
  • 25 May 18 2018-05-25

Senior Procurement Specialist

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.

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