Business Unit: D&I, Property and Procurement
Salary Range: Individual Match
Contract Type: Permanent
We’re at our best when we have something to drive us forward, a belief that underlines who we are and what we do. Our Purpose. We want to make people happier about money – and that idea starts with every single one of us here at Virgin Money. Feeling Insatiably Curious about your next adventure? You might have just found it.
We’ve an exciting opportunity for a Head of IT Sourcing role who will report directly to the Head of Property & Procurement. You’ll be responsible for providing deep procurement and category experience, knowledge, insight and collateral to deliver competitive advantage for Virgin Money through lifecycle value generation, demand management and innovation by bringing best in class people, processes and tools together to enable optimal commercial outcomes.
What’s in it for you? RED HOT Rewards of course
- 38.5 days annual leave for all colleagues (including bank holidays and pro rata if part-time)
- Up to five extra paid well-being days per year
- A 35 hour working week
- 20 weeks paid, gender neutral family leave (52 weeks in total) for expectant parents and those looking to adopt
- Market leading Pension
- Private Medical Insurance
- Flexible benefits including Cycle to Work, Wellness & Health Assessments and Critical Illness
- A digital-first colleague experience
- Ability to work anywhere in the UK (where the role allows)
And the great news is, all these benefits are available to colleagues from day one!
Annually, VM spends in the region of £350m (OPEX) with providers of third-party products and services. CAPEX projects can increase this external spend significantly. With over 1,000 third party providers, there is an opportunity to rationalise, consolidate spend and deliver significant value to the Bank.
The Procurement team plays a pivotal role in optimising spend with third parties across the Bank and you’ll be a key player in driving the right behaviours in driving third party costs down and value up. We’ll create a centre of excellence for all sourcing and supplier activities and this role sits within the centre. You’ll be pivotal in the leadership and helping to set the strategic direction of the Procurement Team.
This role in a nutshell:
- You’ll directly lead two IT sourcing teams with an overall headcount of 13 FTE, set the direction and vision for the team and drive strategic sourcing activities across a range of third-party products and services.
- Collaborate with Business Stakeholders to positively influence each stage of the Supplier Lifecycle and in line with the risk appetite of Virgin Money and the requirements of the Regulator.
- Represent Procurement on IT Leadership and Extended Leadership team meetings positively influencing third party strategy, ensuring early engagement on all third party requirements.
- Identify, implement and maintain the right Supply Chain for categories of expenditure they are responsible and accountable for defining and executing an overall sourcing strategy for each of the categories of spend they are responsible and accountable for by collaborating with Business Stakeholders.
- Deliver a programme of third-party savings and benefits annually that align with VM stakeholder priorities and the Banks cost reduction and optimisation strategy.
- Provide leadership and guidance across VM and across the function on our approach to sourcing.
- Define, design and deliver an approach to category management that complements the vision and strategy of VM – this may include consideration of outsourcing, insourcing, co-sourcing and partnership opportunities.
- Demonstrate and deliver a flexible and robust approach to sourcing that reduces ambiguity and bureaucracy and eliminates unnecessary delays in the sourcing process in line with the risk appetite of VM.
- Lead the team, removing barriers to deliver rapidly and contribute to the improvement of existing processes by looking for automation and optimisation opportunities.
- Challenge the current ways of working to develop new competencies and approaches.
To be successful you’ll need to bring…
- The appetite to positively disrupt and challenge the status quo bringing an energy and a new way of doing things to drive the Procurement team and VM forward.
- Resilience and confidence when operating in an environment where change is the norm and cope with multiple priorities.
- In depth external market knowledge and commercial best practice and be able to coach and develop their team in both areas.
- Ability to identify emerging trends in relevant supply market sectors and make recommendations on potential opportunities or threats to business stakeholders.
- Effective communication with senior colleagues / stakeholders and the ability to network across the Bank (including experience in writing and presenting papers and presentations up to Board level).
- Excellent interpersonal skills, the ability to negotiate and influence in a collaborative manner.
- Significant experience of leading with a passion for demonstrating innovative strategic thinking.
- Strategic thinker with the ability to see the longer-term impacts of plans and the potential for improvement.
- Ability to work in a team, adaptable and responsive to the team and wider bank colleagues.
- Ability to foster growth and development in direct and indirect reports and use best practice techniques for coaching.
We’d love you to have…
- Experience and knowledge of the Financial Services industry.
- Knowledge of VM and its people, to be able to build relationships with key stakeholders.
- Practical understanding of the regulatory environment within which VM operates.
- Understanding of industry analysis, strategic analysis, competitor analysis, performance analysis, risk analysis.
- Understanding of the importance of regulation, governance and risk management in strategic initiatives.
- In depth understanding of risk as it applies to VM.
We really need you to have the skills and experience listed in the to be successful section above, but the rest is just our wish list, so please don’t let that put you off applying, we’d love to hear from you!
Inclusion at Virgin Money
Inclusion is at the heart of everything we do here at Virgin Money. It’s good for you, it’s good for us and it’s amazing for our customers. We know that great minds don’t think alike, so we rely on your diverse thoughts, feelings, beliefs and backgrounds to be the best we can possibly be. Got any questions about this or need some support with your application? We’d love to hear from you so get in touch with our careers team at firstname.lastname@example.org.
Now the legal bit…
Living A Life More Virgin allows our colleagues to be based anywhere in the UK (if the role allows it) but we will need to you to confirm you have the Right to Work in the UK.
If we offer you a job and you accept, there are some checks we need to complete before you can start with us. This will include a credit and criminal record check, as well as providing 3 years' worth of satisfactory references.