WHAT IS A CONTRACT MANAGER ?
The Contract Manager plays a crucial role in ensuring the use of company resources in purchasing goods and services is based on adherence to specific policies and procedures. Proactively setting up and supporting supplier management (in conjunction with partner functions such as Client Services, project teams, etc.), the Contract Manager works to win and manage supplier relationships, develop the best suppliers, and establish a sustainable supply chain. Additionally, they categorize suppliers, provide the GCS Operations Lead with P2P queries, and manage related stakeholders as required. In the absence of the GCS Operations Lead, the Contract Manager provides cover and acts on their behalf, supporting alignment with global business strategies and the financial plan.
Need-to-Know Overview of a Contract Manager
1. Contract Manager Roles and Responsibilities
- Execute Category Plans to agreed timelines with Stakeholders ensuring risks appropriately managed and savings delivered.
- Lead the analysis and set category spend baseline and category profile, incl. risk assessment and purchasing strategy liaising with other departments as required.
- In collaboration with other teams, define the Buying Channel strategy and assess P2P/Channel effectiveness
- In collaboration with the business teams measure category practices against best-in-class benchmarks to identify value delivery initiatives
- Build specific Category Strategy in line with direction set-out by the Head of Sourcing and having regard to regional requirements included in the plan.
- Ensure strong relationship management of the existing client base by being proactive and understanding "what keeps clients awake at night"
- Build and maintain relationships with clients; engage with clients
- Ensure understanding of client’s sourcing and purchasing governance and challenging clients in the right way to ensure the Bank has the best deal
- Provide best in class Sourcing advice to a range of Service users
- Provide cover and act on behalf of Head of Sourcing in their absence
- Define, communicate and align innovative sourcing strategies for a category, supporting both global and regional projects
- Planning, monitoring and reporting on category-specific objectives. Implementing targets and defining measures for achieving these targets.
- Defining and implementing innovative negotiation concepts and strategies, and carrying out cost and contract negotiation. Leading into a Supplier contract management.
- Proactively perform sourcing marketing, and assessing market situations and particular risks to business processes to avoid/prevent potential difficulties through appropriate counter-measures.
- Interdisciplinary work in projects to gather information, take proactive measures and optimize internal processes and workflows, ensuring workflows are fit for business
- Regular and early involvement in business strategy and demand planning.
- Derive challenges and strategies for creating further competitive advantage.
2. Contract Manager Qualifications and Requirements
- Experience of working in a regulated environment, ideally Financial Services
- Extensive Category Management and Sourcing Experience + at a Blue-Chip organization; ideally with IT buying experience (Software, Infrastructure and Services).
- Strong verbal and written communication skills, with the ability to communicate effectively across all levels of the organization.
- Organisation skills including project management with a good track record of meeting deadlines and managing priorities.
- Good attention to detail and ability to think strategically at the same time
- Versatile and flexible approach allowing to adapt to evolving situations.
- Ability to build strong business partnerships both internally and externally
- Highly motivated to succeed whilst remaining a team player.
- Can-do and positive attitude when approaching new projects and challenges.
- Innovative and lateral thinking in order to achieve optimal results.