Supplier Contracts Risk & Relationship Manager (12 month FTC)

Job summary

This is a key new role In the Group Procurement team for a Supplier Contracts Risk & Relationship Manager who will lead the implementation and management of two key new Frameworks to ensure a compliant and best practice approach is applied consistently to the Onboarding and post-contractual Lifecycle-management Chaucer's Third-Party supply chain and Outsource- partner community.

Ownership, implementation and ongoing compliance management of Chaucer’s Third Party Risk Management Framework (TPRM)  in line with Regulatory and best practice requirements, requiring extensive relationship management and collaboration with wider Chaucer teams who are responsible for elements of the framework, including but not limited to Chaucer IT Security, Operational Resilience and Data Protection teams. 

Leading the management and resolution of contractual and relationship issues with Strategic Suppliers and select Preferred Suppliers, working with procurement colleagues and relevant stakeholders, to drive the fullest overall cost, risk, relationship, innovation, sustainability, and performance value .

This role will facilitate the implementation of the Supplier Collaboration Framework with all Executive Owners and relevant business stakeholders with the Strategic and select Preferred suppliers.

• It will support the Strategic Procurement Managers and Procurement Managers with frameworks, processes, governance, and good practice in them driving the greatest overall defined value from the particularly key supplier contracts and relationships.

• Oversee monitoring of KPIs in Third Party SLAs to ensure value for money and quality of service targets in key contractual relationships are consistently being met.

• Maintain the Commercial Risk and Issues Register and ensuring timely, accurate reporting and escalation of risks and issues to relevant Stakeholders as well as provision of reporting content and MI on an ongoing basis.

Main duties

• Responsible for leading the management and resolution of contractual, performance and relationship issues with Strategic Suppliers and select Preferred Suppliers, working with Group Procurement colleagues and relevant stakeholders.

• Responsible for ensuring compliance standards contained in the Third Party Risk Framework and Procurement-led policies are adhered to, reflecting third party risk considerations, taking Into account the nature, scale and complexity of operational dependencies . Providing training and guidance to Internal teams on TPRM practices as well as any emerging changes to app regulation.

• Responsible for scoping, planning and coordinating due diligence activities across business lines and functions in line with the TPRM Framework.

• Collaborate with IT Security, Legal, Compliance and other business functions as required to ensure that emerging risks and regulatory obligations are Incorporated Into due diligence processes.

• Responsible for ensuring that the Strategic Procurement Managers and Procurement Managers implement the Supplier Collaboration Framework for Strategic and select Preferred suppliers, working with all relevant key stakeholders.  

• Accountable for leading the annual segmentation of the existing supplier base In line with Chaucer's TPRM risk assessment framework, working in collaboration with Group Procurement and relevant senior key stakeholders.

• Responsible for the on-going development of the Meeting Governance Framework to ensure its consistent use by Group Procurement, working in collaboration with the Executive Owners for each key relationship.

• Engage regularly with the Executive Sponsors of the Strategic supplier relationships, gathering feedback and insight for supplier collaboration continuous improvement activities.

• Responsible for maintaining the supplier Code of Conduct, educating existing and new suppliers to promote, nurture, and enhance a strong ethical and culture way of working.

• Support the on-going development and implementation of the Environmental, Social and Governance (ESG) and Sustainability strategies across Chaucer, working in collaboration with all relevant stakeholders and Group Procurement.

• Working collaboratively with the relevant Group Procurement team members, together with relevant stakeholders, to drive the fullest overall cost management, risk identification and mitigation, relationship development , innovation, sustainability and performance value.

• Delivery of on-going and significant savings and benefits throughout the contract and relationship life cycle, underpinned by leadership of incremental cost, service and overall value derivation, to include the management and resolution of contract variations and any commercial disputes.

• Establish a collaborative way of working with Group Procurement colleagues, Strategic Suppliers and relevant stakeholders (Executive and ‘Head of’ levels) to execute the Supplier Management Framework. Support the operational owners of the contracts in their day-to-day accountabilities with their Strategic Supplier/s.

• Identify evolving business requirements throughout the contract and relationship life cycle, to include contract change, maintenance, renewals and demand management activities. Recognised in the external market and throughout Chaucer for their Supplier Collaboration expertise, providing specialist advice.

• This list is not exhaustive and includes any other ad-hoc duties and responsibilities required from time to time.

Skills & Competencies

• Collaboration and business partnering experience with senior stakeholders

• Outstanding influencing skills, with the ability to establish cross-functional relationships and manage cultural, political and organisational change

• Good Project Management / negotiation skill set

• Relevant experience in third party risk management

• A good understanding of regulatory requirements and industry standards related to third party risk management

• Demonstrable levels of experience in category and sourcing management

• Demonstrable levels of experience in supplier management / collaboration

• Understanding of contract-law principles and ability to perform contract reviews.

• Experience of working within the insurance/re-insurance market sector/ within a regulated industry (ideally Financial Services).

ABOUT US

Chaucer is a leading insurance group at Lloyd’s, the world’s specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups.

Our headquarters are in London, and we have international offices in Bermuda, Copenhagen, Dubai and Singapore to be closer to our clients across the world. To learn more about us please visit our website.

Chaucer is committed to diversity, actively values difference and respects people regardless of the protected characteristics which are outlined in the Equality Act 2010 (UK legislation) as a result of the Equal Treatment Directive 2006 (EU legislation). 
A diverse workforce and an inclusive workplace are core to our success as a business and integral to our winning strategy and culture. We recruit from the widest available pool of talent, and our hiring, assessment and selection process is fair, free from bias and one which ensures we select the right person for the job, based on merit. We are committed to promoting a culture that actively values difference, and recognises that everyone has the right to be treated with dignity and respect throughout their employment.
We are open to considering flexible working arrangements for all roles and encourage you to outline your needs during the interview process.