Am Procurement

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. The company 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.

Job Title

Assistant Manager (AM) - Commercial

Reports to

Deputy Manager (DM) - Commercial / Manager

Scope of Role
- UK Commercial

Key departments / areas of responsibility - Procurement & Operations

Job Dimensions

Financial
- Management Information Reporting
- Preparation and submission of Budgets & Forecasts for the team
- Migration to new accounting GL Oracle
- Review of Finance related Policies (Capex, Opex, P2P etc) and implement necessary controls
- Cost negotiations and procurement

Non Financial
- Continuous improvement of Procurement processes
- Regulatory Compliance under applicable laws

Overall Job Purpose

The main purpose of the job is to procure goods and services required for M&G in a transparent, commercially prudent manner complying with M&G’s procurement to payment policy and local laws. The Procurement AM shall ensure alignment of local policy to the Group and M&G UK policies to the extent feasible and liaise closely with the UK Commercial & senior management team. The job also involves maintenance and support of contracts in a contracts database and coordination for procurement related governance, compliance and risk.

Key Accountabilities and Responsibilities

Procurement
- Partner with the business and functional leadership to understand short, medium requirement of goods and services that need to be procured
- Assess and assist in the 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
- Partner 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
- Cost negotiations and procurement, Spot negotiation on smaller and day to day purchases of services or any other procurement activities like infrastructure, facilities, IT, HR etc. Execute end to end RFQ/ RFP/ procurement process
- Initiate local or alternate procurement activities
- Drive commercial value from our simple transactions including savings, cost avoidance and added value
- Create & drive effective metrics and data to measure the value delivered through commercial negotiations

Operations
- Support the development, agreement and communication of M&G Global procurement policy and processes.
- 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 Finance, Legal, IT, HR and Facility teams to ensure smooth delivery of vendor empanelment process

Key Interfaces

Internal
- Legal
- Entity Finance
- Human Resources and Facility management
- Risk Teams to ensure implementation of fully compliant sourced contract
- Knowledge Services, SME’s
- Respective functional heads

External
- Suppliers, potential suppliers and other third parties
- Occasionally contract Advisers, Lawyers, Consultants supporting procurement initiatives

Competence / Knowledge / Skills required

Qualification, Knowledge & Experience
- B.COM Graduate with 9 years of procurement experience
- CIPS certification would be an added advantage
- A degree in supply management, finance, or business, or another technical field would be preferred
- Commercial negotiation skills and experience
- Knowledge of Indian Market
- Knowledge of ERP systems, understanding of Oracle Fusion preferred
- Understanding of procurement deal structure & options

**Skills**:

- Proven experience in areas of procurement, negotiation and commercial contracts
- Excellent communication
- Strong stakeholder management skills
- Effective influencing skills that enable the role holder to engage key stakeholders across the business
- Time management & prioritisation skills ensuring that right things are done at the right time

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