The TP&O function plays a critical role in enhancing efficiency, reducing costs, mitigating risks, and driving value across the entire organization. This is achieved by looking for cost savings through negotiating favourable terms and optimising processes to eliminate inefficiencies and reduce cycle times.
The TP&O function actively manages relationships with suppliers ensuring risks are assessed, mitigated and managed in accordance with relevant laws, regulations, and internal policies. TP&O champion data driven decision making by driving strategic initiatives that value to PIC.
Roles within TP&O are designated relationship owners partnering with the various teams and functions at PIC to deliver robust third party and supplier lifecycle from due diligence to selection to onboarding to renewal or exit processes.
Our Company values are expected to be reflected in the delivery and performance of every role.
Key Responsibilities
* Relationship Owner - The role assumes accountability as a Relationship Owner of third party and supplier relationships by proactively assessing and applying robust processes throughout the relationship lifecycle.
* Compliance & Governance - The role requires the ability to effectively collaborate with the business and suppliers to secure purchasing activities comply with relevant laws, regulations and internal compliance policies.
* Risk Management - The role is responsible for developing and leading the organisation’s third-party risk management program to include overseeing the identification, assessment, mitigation, and monitoring of risks associated with third-party relationships.
Specific accountabilities assigned to the role of Third-Party Risk and Supplier Relationship Manager within Business Services function:
* As a designated Relationship Owner with responsibility assessing and applying robust processes throughout the relationship lifecycle new and existing third-party and supplier relationships.
* Takes ownership of third party and supplier relationships from a compliance and governance perspective to deliver purchasing activities that comply with the relevant laws, regulations and internal compliance policies.
* Effectively collaborate with the teams across PIC to develop and implement risk mitigation strategies and controls, such as financial instability, geopolitical factors, and supply chain disruptions, which safeguard against potential disruptions and adverse impacts on operations.
* Develop and lead the third-party risk management program to include overseeing the identification, assessment, mitigation, and monitoring of risks associated with third-party relationships.
* Develop a regular cadence of communication, both in written and verbal format, on TPRM activities, risk levels, and incidents that can be easily transferred into management information packs for circulation to senior management and Executive Committee meetings.
* Develop and maintain strong relationships with key suppliers, acting as the main point of contact between the company and suppliers to include providing regular updates on KPI and SLA tracking and a feedback loop for continuous improvement.
* Identify and manage risks associated with the supply chain by developing contingency plans and risk mitigation strategies.
* Keeps informed of industry trends, market developments, regulatory changes in the supply chain, as well as best practices related to procurement and sourcing by attending industry seminars, reading and sharing relevant published articles.
Knowledge
* Strong knowledge of supplier sourcing and management strategies.
* Strong knowledge of third-party selection and due diligence processes.
* Strong knowledge of the relationship cycle, to include post contract, renewal and exit processes.
* Strong knowledge of relevant regulatory requirements and legal obligations relating to purchasing activities.
* Knowledge of risk management frameworks to assess and mitigate risks associated with third parties and suppliers relating to financial stability, geopolitical factors and supply chain disruptions.
Experience
* Recognised qualification or strong employment record of supply chain management, business administration, or a related field.
* Proven track record of conducting third party due diligence, on-boarding and off-boarding.
* Proficient user of procurement and sourcing software/tools.
* Proven track record of implementing processes and procedures designed to assess and mitigate risks with suppliers and the supply chain.
* Demonstrable experience of working collaboratively with associated teams and stakeholders.
Benefits
* 28 days’ annual leave plus bank holidays.
* Pension.
* Insurance for Travel, Private Medical, Critical Illness, Life Assurance and Income Protection.
* Save As You Earn (SAYE).
* Bonus.
* Flexible Working.
* Dress for your Day.
* Cycle to Work.
* Fruit and snacks.
* Company events.
And more.
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