Senior Buyer

Description:

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:
 

• 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
• A Third Party Risk Management (TPRM) (1LoD) team responsible for operationalising the process to enable LSEG businesses to exercise robust management of risks associated with internal and external third party suppliers
• A Supplier Relationship Management team responsible for strategic partnership with key suppliers, and the Supplier Relationship Management Framework
• 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 individual will take direction from the Category Lead/Director and Category Managers to implement the agreed strategies.

The role will perform a combination of sourcing, supplier management and business engagement activities, with an emphasis on sourcing.

Additionally, the role handles a subset of LSEG’s Focussed suppliers with category spend above £500K, drive the supplier relationship management (SRM) program with those suppliers, monitor and provide approval for purchase requests in Ariba and Oracle, plus SOWs in Fieldglass.

This role sits in the Services tower reporting to the Category Director for Technology Services, who leads the global procurement activities including engagement and ongoing management of third-party suppliers, the sourcing and supplier strategy, and roadmap for the Category.

Although primarily aligned to the above category, this role may be required to support other sub-teams within Group Procurement from time to time.

Key Responsibilities
 

• Support the delivery of the category strategy and deployment of the supplier relationship management program
• Involvement in the development of sourcing strategies, including identifying risks, key outputs, and products
• Lead sourcing and negotiation activities for low to medium spend SOWs across the team, analysing financial and commercial structure, engaging Legal as the need arises and ensuring correct terms and conditions are applied, plus finance to understand budget constraints
• Engage SOW owners to ensure renewal is required and scale is accurate
• Engage the appropriate project lead or vendor manager to ensure they raise the Purchase request in good time
• Support Category Leads or Category Managers with SRM activities, handle allocated supplier relationships
• Support sourcing activities across the wider team (Category Directors or Category Managers in other categories), as the need arises depending on workload
• The PR/PO pipeline for the assigned Category of spend
• Review pipelines of projects, PR/PO approvals, SOWs approvals in Fieldglass, 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, the supplier has been correctly onboarded and approved
• Ensure Category Managers and business contacts are kept up to date with the status each sourcing project
• Research market and industry developments
• Make recommendations on alternate sources of supply to provide choice to LSEG
   

Engagement with LSEG business

Engage regularly with key partners across the business and key functions such as Legal, Finance and HR to progress queries and act as a procurement point of 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 queries from other LSEG staff, alerting Category Managers as appropriate
• Engage with key functions to obtain information and complete necessary actions such as supplier segmentation form
• Work with buisness delivery teams and Category Managers to identify and maintain the project pipeline
• Supporting business as usual activities
   

Procurement systems tools, and data
 

• Maintain data within 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 supporting procurement and planning efficiencies
• Assess the benefits of new sourcing solutions, support the design, implementation and management of procurement systems as requested
   

Contract management
 

• Ensure that relevant contracts are in place for key suppliers as assigned and supported by the Category Lead
• Monitor contract performance and identify when corrective action is needed
• Identify where it is important 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
• Raise contract issues, when appropriate to Category Managers or Legal
• Actively promote continuous improvement by challenging process and procedure to identify and implement valid changes