Job Description

We are M&G Global Services Private Limited (formerly known as 10FA India Private Limited, and prior to that Prudential Global Services Private Limited). We are a fully owned subsidiary of the M&G plc group of companies, operating as a Global Capability Centre providing a range of value adding services to the Group since 2003. At M&G our purpose is to give everyone real confidence to put their money to work. As an international savings and investments business with roots stretching back more than 170 years, we offer a range of financial products and services through Asset Management, Life and Wealth. All three operating segments work together to deliver attractive financial outcomes for our clients, and superior shareholder returns.M&G Global Services has rapidly transformed itself into a powerhouse of capability that is playing an important role in M&G plcs ambition to be the best loved and most successful savings and investments company in the world.Our diversified service offerings extending from Digital Services (Digital Engineering, AI, Advanced Analytics, RPA, and BI & Insights), Business Transformation, Management Consulting & Strategy, Finance, Actuarial, Quants, Research, Information Technology, Customer Service, Risk & Compliance and Audit provide our people with exciting career growth opportunities. Through our behaviours of 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.Job TitleAssistant Manager (AM)/Buyer - ProcurementReports toDeputy Manager (DM)/ Sr. Buyer - Procurement / ManagerScope of RoleUK & India ProcurementKey departments / areas of responsibilityProcurement & OperationsJob DimensionsFinancial

• Sourcing, cost negotiations and procurement
• Preparation and submission of Budgets & Forecasts for the team
• Management Information Reporting
• Working on Oracle
• Review of Finance related Policies (Capex, Opex, P2P etc) and implement necessary controls.

Non-Financial

• Continuous improvement of Procurement processes
• Regulatory Compliance under applicable laws

Overall, Job PurposeThe main purpose of the job is to procure goods and services required for M&G in a transparent, commercially prudent manner complying with M&Gs procurement to payment policy and local laws. The Procurement AM/buyer shall ensure alignment of local policy to the Group and M&G UK policies to the extent feasible and liaise closely with the UK Procurement & senior management team. The job also involves maintenance and support of contracts in a contracts database and coordination for procurement related governance, compliance, and risk.Key Accountabilities and ResponsibilitiesProcurement

• Partner with the business and functional leadership to understand short, medium requirement of goods and services that need to be procured.
• Assess and assist in the mitigation of vendor risk.
• Ensure appropriate contract structures / types, pricing models, vendor incentive models, service level agreements, performance indicators and cost models are applied consistently across vendors.
• Partner with internal and external legal counsel to ensure proper forms of Agreement are utilized, contractor conformance with the terms and conditions of the Agreements, and refinement of Agreements as required.
• Cost negotiations and procurement, Spot negotiation on smaller and day to day purchases of services or any other procurement activities like infrastructure, facilities, IT, HR etc. Execute end to end RFQ/ RFP/ procurement process.
• Initiate local or alternate procurement activities.
• Drive commercial value from our simple transactions including savings, cost avoidance and added value.
• Create & drive effective metrics and data to measure the value delivered through commercial negotiations.

Operations

• Support the development, agreement and communication of M&G Global procurement policy and processes.
• To demonstrate a positive risk, compliance and control culture through the identification, assessment, monitoring and management of risks and issues within the business area, alongside ensuring timely and appropriate resolution of control weaknesses, actions and failures that arise
• Work closely with Finance, Legal, IT, HR, and Facility teams to ensure smooth delivery of vendor empanelment process

Key InterfacesInternalExternal

• Legal
• Entity Finance
• Human Resources and Facility management
• Risk Teams to ensure implementation of fully compliant sourced contract.
• Knowledge Services, SMEs
• Respective functional heads

• Suppliers, potential suppliers and other third parties
• Occasionally contract Advisers, Lawyers, Consultants supporting procurement initiatives

Competence / Knowledge / Skills requiredQualification, Knowledge & Experience

• B.COM Graduate with 9 years of procurement experience.
• CIPS certification would be an added advantage.
• A degree in supply management, finance, or business, or another technical field would be preferred.
• Commercial negotiation skills and experience
• Knowledge of Indian Market
• Knowledge of ERP systems, understanding of Oracle Fusion preferred.
• Understanding of procurement deal structure & options

Skills

• Proven experience in areas of procurement, negotiation, and commercial contracts
• Excellent communication
• Strong stakeholder management skills
• Effective influencing skills that enable the role holder to engage key stakeholders across the business.
• Time management & prioritisation skills ensuring that right things are done at the right time.

We have a diverse workforce and an inclusive culture at M&G Global Services, 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