This role involves managing technology services and products delivered globally by vendors, ensuring value for money, minimizing risk, and handling the full contract lifecycle. It suits a professional with strong vendor management experience who can establish effective financial oversight and drive continuous improvement in vendor performance.
Responsibilities
Ensure the vendor delivers value for money while minimizing risk for services allocated to Global Service Owners and Operational Leads within Engineering operations
Ensure the full contract life cycle is fully handled
Establish effective financial management to ensure accurate and timely payments to vendors, understand usage trends impacting costs, and implement effective forecasting
Perform responsibilities according to OGC/ITIL CIPS concepts
Collaborate with team members and Tech Sourcing to ensure appropriate processes are embraced for vendor selection and contract structure
Ensure OLAs and SLAS underpinning contracts align with desired service
Establish an operating rhythm with vendors to ensure service/products are delivered to expectation, including setting up and attending service reviews
Act as the point of escalation within Engineering Operations for contractual and/or commercial disputes and service/support issues (excluding day-to-day incident resolution)
Proactively handle contract terminations, closure, transfer, and renewals, performing due diligence in consultation with appropriate team members
Coordinate contract changes in line with change management processes and update all central repositories
Develop an account plan for each vendor to drive interaction and effective demand management
Ensure vendor database is maintained and up-to-date
Socialize Vendor Management's programs and processes to Sourcing, Team members, and Finance
Create focused vendor relationship strategies for critical vendors and encourage diversity within the vendor base
Monitor, report, track, and review vendor performance using metrics according to contract guidelines and account plans
Design and implement continuous process and quality improvements within the vendor management program in conjunction with GSO, Finance, and Sourcing teams
Drive vendor behavior and deliver continuous improvement in vendor performance that develops revenue and earnings growth and expense management, ensuring team members have appropriate transparency
Facilitate vendor audits and benchmarking activities when required and appropriate
Ensure adherence to Refinitiv contracting processes and Refinitiv Sourcing / Supplier management operating model
Ensure vendors and their teams are aligned with LSEG SOX, Logical Systems Access processes, and Service Management (Change, Incident, Problem management) processes where appropriate
Millions of jobs, with real people getting hired every day
200,000+
New jobs added daily
7,000,000+
Verified job listings
1,000,000+
Tailored applications submitted
Effectively communicate a vendor management vision, strategy, and business plan to internal team members and external vendors
Advocate for vendor management through relationship building, results delivery, and effective communication to ensure it is a core strategic lever for collaborators and Sourcing teams, with measurable results
Ensure processes are in place for the review and analysis of invoices to verify accuracy of charges
Act as a checkpoint to validate charging
Coordinate activities between Finance, Business, and Vendor to ensure all invoices are raised and paid in accordance with vendor agreements
Ensure Refinitiv payment terms are carried out where applicable
Forecast cost for third-party supplier agreements with a high-level understanding of spend, with input from Service Owners
Advise appropriate team members of contract additions/terminations to enable accurate budget forecasting
Perform expense and cost-benefit analyses related to technology products/services associated with cost savings/reduction initiatives, benchmark products/services, market and vendors, and make recommendations based upon analyses
Requirements
Advanced Vendor Management experience
Proficiency in ITIL and/or CIPS framework
Proven experience in Sourcing
Global perspective with ability to act regionally and locally
Positive relationship building, communication, and presentation skills
Excellent customer service and writing skills
Proven thought leadership in the areas of vendor management, governance, and business processes
Experience with e-procurement tools, vendor scorecards, and customer surveying
Effective negotiation and strategic sourcing skills
Ability to balance multiple tasks effectively
Strong digital literacy; proficiency in Office 365 and other AI tools
Self-motivated, dynamic, and able to work with minimal direction
Benefits
Tailored benefits and support, including healthcare, retirement planning, paid volunteering days, and wellbeing initiatives
Important Details
Career Stage: Manager
About the Company
LSEG is a leading global financial markets infrastructure and data provider, driving financial stability, empowering economies, and enabling customers to create sustainable growth. The company is a dynamic organization of 25,000 people across 65 countries. Its charity, the LSEG Foundation, provides charitable grants to community groups that help people access economic opportunities and build a secure future with financial independence.
