Vendor Manager

Job description

Vendor Management is accountable for the Technology services and products delivered globally by Vendors. Vendor Manager's responsibility is to: Ensure that the vendor delivers value for money whilst minimizing risk for the services allocated to the Global Service Owners & Operational Leads within the Engineering operations Ensure that the full contract life cycle is fully handled. Establish effective financial management that will; Ensure payments to Vendors are accurate and timely Usage trends that impact costs are understood Effective forecasting is implemented Perform responsibilities according to the OGC/ITIL CIPS concepts. Other Key responsibilities include: Pre-Contract • Collaborate with the team members and Tech Sourcing to ensure the appropriate processes are embraced 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 Engineering 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 supervised, 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 transparency • 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 skills • Ability to balance multiple tasks optimally • Strong digital literacy; proficiency in Office 365 and other AI tools. • Must be self-motivated, dynamic and able to work with minimal direction We're proud to have been recognised as a Great Place to Work® in India ‘25 Career Stage: Manager London Stock Exchange Group (LSEG) Information: Join us and be part of a team that values innovation, quality, and continuous improvement. If you're ready to take your career to the next level and make a significant impact, we'd love to hear from you. LSEG is a leading global financial markets infrastructure and data provider. Our purpose is driving financial stability, empowering economies and enabling customers to create sustainable growth. Our purpose is the foundation on which our culture is built. Our values of Integrity, Partnership , Excellence and Change underpin our purpose and set the standard for everything we do, every day. They go to the heart of who we are and guide our decision making and everyday actions. Working with us means that you will be part of a dynamic organisation of 25,000 people across 65 countries. However, we will value your individuality and enable you to bring your true self to work so you can help enrich our diverse workforce. We are proud to be an equal opportunities employer. This means that we do not discriminate on the basis of anyone’s race, religion, colour, national origin, gender, sexual orientation, gender identity, gender expression, age, marital status, veteran status, pregnancy or disability, or any other basis protected under applicable law. Conforming with applicable law, we can reasonably accommodate applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs. You will be part of a collaborative and creative culture where we encourage new ideas. We are committed to sustainability across our global business and we are proud to partner with our customers to help them meet their sustainability objectives. Our charity, the LSEG Foundation provides charitable grants to community groups that help people access economic opportunities and build a secure future with financial independence. Colleagues can get involved through fundraising and volunteering. LSEG offers a range of tailored benefits and support, including healthcare, retirement planning, paid volunteering days and wellbeing initiatives. Please take a moment to read this privacy notice carefully, as it describes what personal information London Stock Exchange Group (LSEG) (we) may hold about you, what it’s used for, and how it’s obtained, your rights and how to contact us as a data subject . If you are submitting as a Recruitment Agency Partner, it is essential and your responsibility to ensure that candidates applying to LSEG are aware of this privacy notice.