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Engaged Employer

London Stock Exchange Group

Compare

4.0

based on 827 Reviews

253 London Stock Exchange Group Jobs

Vendor Manager

Refinitiv

4.0

based on 827 Reviews

10-15 years

Bangalore / Bengaluru

1 vacancy

Vendor Manager

London Stock Exchange Group

posted 12hr ago

Job Role Insights

Flexible timing

Key skills for the job

Customer Service Healthcare Recruitment Change Management Service Management Contract Management

+ 4 more

Job Description

Vendor Management is accountable for the services and products delivered globally by Vendors.

Key responsibilities include:

Pre-Contract

Collaborate with the team members and Tech Sourcing to ensure the appropriate processes are adopted to select the best vendor along with the right contract structure. Ensure OLA s and SLA underpinning contracts align with desired service
Post-Contract

Contract Management

Ensure an operating rhythm is established with appropriate type of service provided by the vendor to ensure service/products are delivered to expectation. For some vendors this will entail ensuring service reviews and set up and attended by the accurate individuals
Be the point of escalation within Technology Operations for contractual and / or commercial disputes / Service & Support issues (this excludes day to day incident resolution / management)
Pro-actively handle contract terminations, closure, transfer and renewals. Vendor manager should demand challenge and perform due diligence prior to closures, renewal and termination of contracts, this activity should be performed in consultation with any appropriate team members such as the business
Ensure changes to the contract are coordinated in line with change management processes and update all central repositories
Control and Governance
Develop an account plan for each vendor which will drive interaction and effective demand management.
Ensure vendor database is maintain 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 our vendor base
Vendor performance is monitored, reported, tracked & reviewing performance using metrics to measure success according to the contract guidelines and account plans
Designing and implementing continuous process and quality improvements (driving efficiency and effectiveness) 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 visibility
When required and appropriate facilitate vendor audits of Refinitiv and bench marking activities

Policy and Process

Ensure adherence to Refinitiv contracting processes and Refinitiv Sourcing / Supplier management operating model
Where appropriate ensure vendors & their teams are aligned with LSEG SOX, Logical Systems Access processes, Service Management (Change, Incident, Problem management) processes
Effective communication of a vendor management vision, strategy and business plan to all team members (internal) and vendors (external)
Corporate advocacy of vendor management through relationship building, results delivery and effective communication to ensure vendor management is a core strategic lever for collaborators and Sourcing teams, with measurable results

Financial Control

Ensure processes are in place for the review and analysis of invoices which in turn will verify accuracy of charges
Act as a checkpoint to validate charging
Coordinates activities between Finance, Business & Vendor to ensure all invoices are raised & paid in accordance with vendor agreements
Ensure Refinitiv payment terms are carried out, where applicable
Forecast cost for 3rd part supplier agreements together with high level understanding of spend with input from Service Owners
Ensure appropriate team members are advised of contract additions / terminations of 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 recommendation based upon analyses

Required Skills

Advanced Vendor Management experience.
Proficiency in ITIL and/or CIPS framework
Shown 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
Shown 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 skill
Strong digital literacy; proficiency in MS Word, Excel, PowerPoint and Outlook
Must be self-motivated, dynamic and able to work with minimal direction