Commercial Manager

We are M&G Global Services Private Limited (formerly known as 10FA India Private Limited, and prior to that Prudential Global Services Private Limited). We are a fully owned subsidiary of the M&G plc group of companies, operating as a Global Capability Centre providing a range of value adding services to the Group since 2003. At M&G our purpose is to give everyone real confidence to put their money to work. As an international savings and investments business with roots stretching back more than 170 years, we offer a range of financial products and services through Asset Management, Life and Wealth. All three operating segments work together to deliver attractive financial outcomes for our clients, and superior shareholder returns. M&G Global Services has rapidly transformed itself into a powerhouse of capability that is playing an important role in M&G plc's ambition to be the best loved and most successful savings and investments company in the world.Our diversified service offerings extending from Digital Services (Digital Engineering, AI, Advanced Analytics, RPA, and BI & Insights), Business Transformation, Management Consulting & Strategy, Finance, Actuarial, Quants, Research, Information Technology, Customer Service, Risk & Compliance and Audit provide our people with exciting career growth opportunities. Through our behaviours of telling it like it is, owning it now, and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent.Procurement Identify / implement best practices of procurement and vendor managementPartner with the business and functional leadership to understand short, medium and long-term category / commercial strategy and the wider M&G Strategy.Conduct spend data analysis, opportunity identification and validation by working closely with stakeholders.Formulate and execute of local or alternate procurement and negotiation strategies and align with Procurement leadership and business counterpartsDrive commercial excellence through a competitive tendering process and drive commercial management with the firm's key vendorsExecute end-to-end procurement process via execution of RFx. Facilitate adoption of eSourcing Tool (Oracle)Drive and conduct cost negotiations (including spot negotiations on day-to-day purchases of products/services or any other procurement activities related to infrastructure, facilities, IT, HR etc.)Conduct market research for cost and scope benchmarking related to requests on hand.Ensure appropriate contract structures, pricing models, vendor incentive models, service level agreements/KPIs, performance indicators and cost models are applied consistently across vendorsPartner with internal and external legal counsel to ensure proper forms of agreement are utilized, contractor conformance with the terms and conditions of the agreements, and refinement of agreements as required.Drive execution & repository of finalized & executed agreements & supporting documentation in CLM (Oracle)Assist in identification, assessment and mitigation of vendor risk.Ensure appropriate contract structures / types, pricing models, vendor incentive models, service level agreements, performance indicators and cost models are applied consistently across vendors.Drive and track commercial value via savings (cost reduction, cost avoidance and working capital) and added value generation.Create & drive effective metrics and data to measure the value delivered through commercial negotiations.Support new vendor identification, development and inventory management as neededOperationsSupport Department Head, Sr Commercial Manager/VP-Procurement to execute Procurement team deliverables and tasksExecute per the operational framework and deliver against our Risk and Governance reporting requirements including supporting the Business to meet its obligations in respect of managing relationships.To demonstrate a positive risk, compliance and control culture through the identification, assessment, monitoring and management of risks and issues within the business area, alongside ensuring timely and appropriate resolution of control weaknesses, actions and failures that arise.Work closely with business departments (including but not limited to) Finance, Legal, IT, HR, and Facilities to ensure smooth delivery of vendor empanelment process.Support reporting activities as and when needed.Identify process gaps, and discuss with Procurement Department Head, Sr Commercial Manager/VP-Procurement to update Standard Operating Procedure/Policy documentation on regular basis.Identify ideas for automation, capacity creation and efficiency improvement.Understand and own data accuracy across processes and tools (Oracle and otherwise) and ensure team members contribute towards the same.Represent Procurement department for internal and external audits and furnish information/documentation as needed.Timely execution of any Procurement-related ad hoc activities as assigned by Supervisor from time-to-time.Understand and implement vision, ideas, and changes in-line with Senior Leadership expectations.Team/People ManagementManage a team (as needed), provide direction & support to team members (Analyst, Managers) to complete tasks on hand on timely basisData-based decision making by tracking of open & ongoing requests, and work with Department Head, Sr Commercial Manager/VP-Procurement to support removal of challenges & roadblocks timelyProvide mentoring support to junior team members (Analyst, Managers, etc.) by identifying areas of improvement, providing and documenting timely feedback, handle performance conversations, etc.Manage escalations, conduct RCA and implement learnings to avoid repetition of issuesHelp communication and adoption of new ideas and control measures within the teamSupport Head of Department in interviewing/recruitment process, and performance managementWe have a diverse workforce and an inclusive culture at M&G Global Services, regardless of gender, ethnicity, age, sexual orientation, nationality, disability or long term condition, we are looking to attract, promote and retain exceptional people. We also welcome those who take part in military service and those returning from career breaks.