Our purpose is to give everyone real confidence to put their money to work. With a heritage dating back more than 175 years, we have a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions.
Our two distinct operating segments, Asset Management and Life, work together to provide access to balanced, long-term investment and savings solutions.
Through telling it like it is, owning it now, and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent.
We will consider flexible working arrangements for any of our roles and also offer work place accommodations to ensure you have what you need to effectively deliver in your role.
Senior Procurement Manager
Primary purpose of the role
The Procurement/Commercial function’s purpose is to balance opportunity, risk and responsibility to drive better business outcomes through the third party supply chain. The Director of Commercial reports into the Director of Group Financial Performance & Cost Transformation in the Finance function. The aim of the function is to protect the business against commercial, operational and regulatory risk whilst delivering value for money for business budget holders.
The role holder will report into and work closely with Head of Procurement to ensure a cohesive and collaborative partnership with Business Leaders within a specific Business Unit.
The Procurement team has two main focus areas:
1. To lead and drive forward all third party engagements supporting allocated business units. This will include complex activities involving strategic or material suppliers, such as negotiating and contracting for new BPO deals or renewals of existing deals to support the business divisions to optimise cost base, operating models and deliver innovation by building partnerships with external suppliers. The role will also include accountability for the higher volume transactional activity to drive lower costs and ensure appropriate mitigation of risks associated with third parties. and
2. To provide business partnering services for all Commercial activities for the allocated business unites, improving engagement between Commercial and business functions, demonstrating the value add of the function and adding value to the business functions by identifying opportunities for improved cost base, innovation or transformation through the use of third parties
It is important in this role to build relationships and networks across the organisation to establish the desired operating model and set the adherence to procurement ways of working. These relationships coupled with commercial and economic insight need to be harnessed to continuously drive tangible improvements across the category and to achieve recognised procurement best practice.
Key accountabilities
- Build strong business partnerships with internal business units (our customers) to deliver early and meaningful engagement with our function in order that better commercial outcomes can be obtained and demonstrating our value-add
- Deliver Commercial deals, including identifying potential for innovation or cost reduction using market insight and analysis of internal data, delivering significant and measurable costs savings and identifying future client/customer needs, working with business to ratify proposals and negotiating and contracting with third parties to deliver benefits to the business
- Building strong working relationships with key support functions associated with third party supply chain e.g. Legal, Supply Chain Security, Operational Resilience, Third Party Risk Team, Data Privacy and Financial Crime
- Accountable for ensuring the work is aligned to M&G’s strategic direction, set by the CEO and Executive Leaders, including a focus on ESG
- Addresses complex problems with significant impacts or where reputation or relationships are at risk
- The role may also have line management responsibility for Commercial Managers and Buyers
Key responsibilities
- To develop strong working relationships with the management teams across all areas of the business, providing insight into potential commercial opportunities and input into business unit strategy
- Assist the Commercial teams to deliver exceptional commercial arrangements delivering benefits and outcomes in support the different business units
- To support the business units to drive improvements with a focus on Customer, ESG, business optimisation, growth and cost efficiency where engaging with third party supply chain
- To support the wider Commercial function as a senior member of the function
- To lead on resolving difficult and challenging issues and opportunities and successfully implementing outcomes
- To lead on negotiating with suppliers on large scale complex arrangements
- Influence decisions through the provision of market insight and intelligence and internal supplier insight to inform category strategy, plans and delivery
- To work collaboratively with colleagues and be accountable for the maintenance enhancement of controls within area of responsibility, to support improvement of the overall control environment, customers outcomes and a reduction in M&G PLC operational risks
- Provide authoritative advice to key stakeholders on all aspects of the Commercial function to encourage innovative practices, achieve delivery of business outcomes and support policy directions.
- Apply the third party risk management framework and associated policies & procedures to ensure compliance, manage risk and improve Commercial activity and performance.
- Active member of the Commercial Leadership Team, providing leadership to the Commercial directorate.
Key Knowledge, Skills & Experience:
Knowledge:
- Excellent Commercial knowledge from business optimisation through to leveraging 3rd parties to maximise business benefit
- Excellent knowledge of supplier negotiations leading and delivering large scale complex deals
- Expert written and verbal communications skills, and the ability to communicate to a range of stakeholders
- Expertise in creating PowerPoint slides
- Strong analytical skills with ability to operate independently, taking, owning and resolving complex issues
Experience:
- Managing organisational demand and influencing business units to adopt innovative ways of structuring their operations to meet their goods and services needs more efficiently.
Decision making
- This role operates with a high level of autonomy and is fully accountable for the delivery of work assignments and projects on time, within budget and to expectations in terms of quality, deliverables and outcomes.
- Refers to Director of Commercial decisions that require significant change to project outcomes or timeframes; are likely to escalate or create substantial or contentious precedent; require a higher administrative or financial delegation, or submission to a higher level of management. This role submits reports, strategies, and other forms of written advice and information requiring minimal input from the Director.
- The role operates as part of the Commercial Leadership Team. The postholder will be required to operate at this level providing leadership to the function, supporting decision making and continuously developing the function.
Capabilities
- Model the highest standards of ethical and professional behaviour and reinforce their use
- Represent the organisation in an honest, ethical and professional way and set an example for others to follow
- Build the Commercial brand internally and externally with key stakeholders and industries to support M&G needs
- Promote a customer-focused culture in the organisation and consider new ways of working to improve customer experience
- Initiate and develop partnerships with customers to define and evaluate service performance outcomes
- Liaise with senior stakeholders on key issues and provide expert and influential advice
- Identify and incorporate the interests and needs of customers in business process design and encourage new ideas and innovative approaches
- Ensure that the organisation’s systems, processes, policies and programs respond to customer service
- Negotiate from an informed and credible position
- Lead and facilitate productive discussions with staff and stakeholders
- Encourage others to talk, share and debate ideas to achieve a consensus
- Recognise diverse perspectives and the need for compromise in negotiating mutually agreed outcomes
- Influence others with a fair and considered approach and sound arguments
- Manage challenging relationships with internal and external stakeholders
- Make sure staff understand expected goals and acknowledge staff success in achieving these
- Use business data to evaluate outcomes and inform continuous improvement
- Identify priorities that need to change and ensure the allocation of resources meets new business needs
- Promote effective risk management in Commercial
- Manage and develop people, engage and motivate staff, and develop capability and potential in others
Education, Knowledge and skills
- Educated to degree level in a financial, business or similar related subject, supported by an appropriate professional qualification, such as CIPS or equivalent.
- Strong business and commercial awareness.
- KPI development and monitoring.
- Supplier and spend analysis capability.
- Excellent negotiation and communication skills, both written and verbal, having the confidence, gravitas and acumen to clearly articulate commercial thinking in a compelling way, persuading and influencing that gains stakeholder commitment.
- Resilience and agility to cope with change and react to challenges in equal measure, applying a positive focus.
- Nurturing of key relationships with senior stakeholders
- Able to manage multiple projects and apply problem solving skills.
- Good Knowledge of Microsoft Office and Oracle fusion.
Work Level: Manager / Expert
Recruiter: Matt Campbell
Close Date: 22nd November 2025
What we offer:
At M&G, we’re committed to helping you thrive and supporting your wellbeing, both at work and beyond. Our benefits are designed to help you balance your professional and personal life, while planning confidently for your future. Our UK benefits include:
As a savings and Investments firm we are proud to offer a valuable pension scheme of 18%, with 13% made up of Employer Contributions and 5% Employee Contributions. We also offer Share Save and our Share Incentive Plan, together with access to financial wellbeing and support services - to help give you real confidence to put your money to work.
Enjoy 38 days annual leave including bank holidays, with the opportunity to purchase up to 5 extra days and additional flexibility through our Time Off When You Need It policy – to balance your work and personal commitments.
Our market leading Inspiring Families policy includes comprehensive support and paid parental leave covering maternity, adoption, surrogacy, and paternity leave - as supporting families is a core aspect of our inclusive culture.
Health & Protection cover including Private Healthcare, Critical Illness cover and Life Assurance for you, with family options - for peace of mind.
To explore more about life at M&G and our full benefits offering, visit Life at M&G
We have a diverse workforce and an inclusive culture at M&G, underpinned by our policies and our employee-led networks who provide networking opportunities, advice and support for the diverse communities our colleagues represent. Regardless of gender, ethnicity, age, sexual orientation, nationality, disability or long term condition, we are looking to attract, promote and retain exceptional people. We also welcome those who take part in military service and those returning from career breaks.
M&G is also proud to be a Disability Confident Leader, and we welcome applications from candidates with long-term health conditions, disabilities, or neuro-divergent conditions.
If you need assistance or an alternative means of applying for a role due to a disability or additional need, please let us know by contacting us at: careers@mandg.com