Procurement & Supplier Manager

IQUW Property Insurance
Overview

Procurement & Supplier Manager

Grade: 3

Reporting to: Head of Procurement

Location: London

About us

IQUW is a specialty (re)insurer at Lloyd’s (Syndicate 1856) underwriting a diverse range of Property, Commercial and Specialty (re)insurance products from Cargo and Marine to Political Violence, Terror and War. We combine data, intelligent automation, and human expertise to make smart decisions, fast.

ERS is the UK’s largest specialist motor insurer with an A+ rating. We recognise that for some, motor insurance is more than just a must-have; it’s a way of taking care of what stands at the heart of their passion or livelihood. For those people, standard insurance isn’t enough. That’s why we work exclusively with motor insurance brokers to help get under the skin of the most difficult insurance risks, helping build products to meet their customer’s needs.

The role

The role holder will be responsible for procuring, managing, and supplier governance of IT and business services, including insurance specific products. This role is critical in ensuring our organisation secures best-in-class suppliers, optimises spend, and maintains robust supplier relationships across outsourced and strategic partnerships. IQUW drives supplier value through Procurement, Business and IT working collaboratively, procurement owning the commercial and governance within the Procurement supplier framework.

A key component of the Procurement operating model is the ability to manage the various and varied items of work, some on a recurring basis (renewals) and some new requests within existing supplier contracts or requiring new engagements. The role holder will be required to learn, use and comply with the process as it is integral to the role.

Key responsibilities

• Procurement: Implement procurement strategies in line with business demand and Procurement Policy.
  • Tender & Contracting: This will typically be focused on renewals and changes to existing agreements, but will also include new requirements, which will involve the full lifecycle form RFP, through contract terms and negotiations to approvals.
  • Renewals: ensure contract renewals are completed and processed in a timely manner in accordance with Procurement Policy whilst optimising value and avoiding any business disruption.
  • Policy & Compliance: ensure contracts contain appropriate conditions and all activities undertaken align with internal policies, legal standards, and regulatory frameworks.

• Supplier Management: Own and manage Tier 2 supplier contracts across key business application and service providers in line with the Procurement Policy. This includes:
  • Performance & Risk Management: working with operational and service managers to monitor KPIs, and risk indicators; drive corrective actions and continuous improvement
  • Contract Lifecycle Management: end-to-end contract processes including change orders and SOW negotiation, contract handover documentation and support, obligation tracking and management, ongoing risk and issue management, renewal, and exit planning.
  • Governance & Compliance: ensure contracts continue to adhere to regulatory, legal, and internal governance standards.
  • Cost Reporting & Optimization: Identify opportunities for cost savings, innovation, and operational efficiency through supplier partnerships.
  • Risk & Operational Resilience: Assess supplier risk through ongoing due diligence in line with Procurement Policy and work with Operational Resilience to implement mitigation plans.
• Stakeholder Engagement: Collaborate with business and other internal functions including IT, Legal, Finance, and other Procurement teams to deliver contracts and changes in line with business objectives

The above duties and responsibilities are not an exhaustive list, and you may be required to undertake any other reasonable duties compatible with your experience and competencies. This description may be varied from time to time to reflect changing business requirements.

Qualifications, skills and experience

• Demonstrable experience in operating across multiple procurement categories
• IT and Insurance data product procurement experience
• Understanding of financial services markets and regulated industry
• Proven track record in supplier relationships.
• Expertise in contract law, commercial negotiation, and supplier governance framework.
• Working with CRM tools
• Degree in Business, Law, or related field
• CIPS or SRM certifications desirable.

Desirable behavioural attributes

• Effective communication skills, including verbal and written communication.
• Initiative & Change
• Driving & Delivering Results
• Planning & decision making
• Teamwork
• Personal Growth & Self-Management

Additional Information

• A full job description can be seen here.