Commercial Analyst, London, Hybrid, Permanent

 

The position of Commercial Analyst within the Procurement Team is to maximise value from strategic supplier contracts and relationships; working closely with suppliers, developing commercial contract aspects to access latest innovations, understand unnecessary business demands, manage contract obligations, reclaim service credits and rebates and track and measure benefits secured from each supplier.

 

As such the Commercial Analyst must display solid influencing and commercial skills and an in-depth knowledge of the requirements of the multiple functional areas within the area of responsibility to enable complex problems to be addressed and solutions agreed.

 

The Commercial Analyst plays an important role in managing supplier risk and ensuring Pay.UK Participants receive good service through consistent supplier outcomes.

 

Key Accountabilities

 

Commercial Function Development

  • Support the implementation of Pay.UK’s Third Party Management Framework.

 

Supplier Governance & Performance

  • Commercially develop a range of suppliers across multiple direct and indirect categories.
  • Lead on supplier performance reviews and address any concerns
  • Ensure that risks identified are actioned, addressed to a satisfactory level and closed in relevant databases and reporting.
  • Undertake due diligence as prescribed by the commercial management framework.

 

Stakeholder Management

  • Engage with Pay.UK business stakeholders and develop stakeholder networks as appropriate.
  • Work with Procurement Managers to deliver effective sourcing processes.
  • Support the Commercial Manager and Senior Commercial Manager as appropriate.

 

Business Requirements

  • Understand requirements and contract structures. Seek advice from technical / functions as appropriate
  • Provide issue resolution and mitigation solutions where business users are experiencing supplier performance problems that do not meet contractual targets

 

Reporting

  • Report on supplier 360-degree performance including SLA’s / KPI’s, obligations as well as reporting supplier issues, risks and improvement opportunities and contract spend vs budget
  • Support the roll out of a new contract management and SRM software solution. Be involved in administering the system and driving enhancements.
  • Support the reporting on functional KPIs and KRIs.

 

Risk and Change Management

  • Manage risk and compliance through effective project, contract, demand and supplier performance management and oversee any contractual change management requirements

 

Skills, Experience & Qualifications

 

 

  • Knowledge of the financial services and technology industries and related supply chains, including commercial and contract administration processes.
  • Procurement and commercial management experience.
  • Highly numerate.
  • Reporting experience.
  • Able to effectively communicate at all levels, both internally and externally.
  • Effective and proven negotiation skills with ability to influence.
  • Computer literate including ability to utilise in-house and external software.
  • Knowledge of the IT category desirable but not essential.
  • MCIPS and/or WorldCC (IACCM) preferable but not essential.

 

At Pay.UK, we value diversity and inclusivity. Research has shown that candidates from underrepresented groups may hesitate to apply unless they meet all the requirements listed. We encourage all qualified candidates to apply, regardless of how closely their skills and experience match the requirements. We are committed to supporting accessibility needs and creating a welcoming environment for all employees. Become part of our team and contribute to the creation of an inclusive work environment that values everyone's unique input.

 

About Us

Pay.UK maintains and develops the UK retail payment systems and standards that are core to the economy being able to function on a day-to-day basis.

From Bacs to Faster Payments and cheques – we act as the single operator for all UK retail payments. We put the needs of consumers and businesses at the heart of everything we do, working in the public interest to ensure that the systems the country relies on for its banking transactions are safe, open, innovative and resilient.

Our payment systems underpin the services that enable funds to be transferred between people and institutions. In 2023, the UK's retail payment systems processed 11.4 billion transactions worth £9.3 trillion through Bacs Direct Credit, Direct Debit, Faster Payments, and cheques, and our Current Account Switch Service has facilitated over 10.2 million switches since its launch in 2013.

Every day, people and businesses use the services we provide to get their salaries, pay their bills and make online and mobile banking payments. Our vision for the future is to enable a vibrant economy, with Pay.UK delivering the best-in-class payment infrastructure and standards for the benefit of consumers and businesses nationwide.

 

Benefits Include

  • 12% Non-contributory pension
  • Discretionary annual bonus 
  • 30 days annual leave (excluding bank holidays)
  • Private medical insurance, life assurance, income protection, health cash plan, dental insurance, Bupa medicals etc
  • Employee assistance programme
  • Cycle to Work Scheme
  • Season ticket loan
  • Annual fitness subsidy of up to £500 per annum

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