Trusted by thousands of counterparties within the global FX ecosystem, CLS makes FX safer, smoother and more cost effective. Trillions of dollars worth of currency flows through our systems each day. Created by the market for the market, our unrivaled global settlement infrastructure reduces systemic risk and provides standardization for participants in many of the world’s most actively traded currencies. We deliver huge efficiencies and savings for our clients: in fact, our approach to multilateral netting shrinks funding requirements by over 96% on average, so you can put your capital and resources to better use. Our complementary products are designed to enable you to manage your risk most effectively across the full FX lifecycle – whether through more efficient processing tools or market intelligence derived from the largest single source of FX executed data available to the market.

About CLS:

CLS is the trusted party at the centre of the global FX ecosystem. Utilized by thousands of counterparties, CLS makes FX safer, smoother and more cost effective. Trillions of dollars’ worth of currency flows through our systems each day.

Created by the market for the market, our unrivalled global settlement infrastructure reduces systemic risk and provides standardization for participants in many of the world’s most actively traded currencies. We deliver huge efficiencies and savings for our clients: in fact, our approach to multilateral netting shrinks funding requirements by over 96% on average, so clients can put their capital and resources to better use.

CLS products are designed to enable clients to manage risk most effectively across the full FX lifecycle – whether through more efficient processing tools or market intelligence derived from the largest single source of FX executed data available to the market.

Our ambition to make a positive difference starts with our people. Our values – Protect, Improve, Grow – underpin everything that we do at CLS and define and shape a supportive and inclusive working environment in which everyone is encouraged to be open and forward-thinking.

Job information:

Functional title – Director, Corporate Services, Procurement
Department - Procurement
Corporate level - Director
Report to – Executive Director, Head of Procurement
Location – London

What you will be doing:

The Procurement Director defines and implements the strategy of the relevant categories, whilst driving sourcing initiatives, whether it is for run the bank operations, or project related opportunities. The Procurement Director promotes and works within the implemented Third-Party Management (TPM) framework and is a strong advocate for the adherence of the TPM Policy and Procedures centered around risk mitigation and alignment with regulatory and compliance requirements, while promoting value-add that will assist CLS to meet its targets. In addition, the Procurement Director assists the Head of Procurement in enhancing CLS Procurement capabilities, transforming it from a tactical, requisition-focused model to a strategic approach centered on vendor-based decisions. Key responsibilities are set out below.

Leadership & Team Management:

Lead, mentor, and develop the Procurement team, fostering a high-performance culture.
Promote best practices in Procurement, including digital transformation (e.g., e-Procurement tools, automation).
Provide day to day management, support and training to develop the team
Conduct quarterly and annual performance reviews for direct report(s)
Assume responsibility for the maintenance of knowledge, skills and disciplines, with on-going professional development.
Demonstrate adaptability to ensure that the team focus is maintained on key issues, under the guidance of the Head of Procurement and CFO Office.
Build and maintain excellent working relationships with appropriate senior management across the organisation.
Collaborates and supports the company to achieve its corporate objectives, while using the appropriate digital resources.

Strategic Procurement Leadership:

Develop and execute the Procurement strategy in alignment with the company’s financial and operational objectives.
Lead end-to-end Procurement processes, including sourcing, tendering, contract negotiation, and supplier performance management.
Identify cost-saving opportunities while maintaining quality and compliance within the financial services sector.

Strategy Development & Planning:

Research and identify innovative Procurement solutions for assigned categories or initiatives
Develop category strategy plans, including road map and stakeholder mapping
Ensure sourcing and category initiatives aligns with the organisation’s corporate objectives

Stakeholder & Vendor Management:

Build and maintain effective relationships with internal stakeholders that support the Procurement strategy
Lead and communicate with cross-functional teams to execute strategy and drive performance
Collaborate with internal stakeholders (Finance, Legal, Risk, IT) to ensure Procurement activities meet business needs.
Elevate and sustain the Procurement Profile through consistent communication value delivery
Develop effective relationships with 3rd Parties, adhering to emerging SRM framework
Build and maintain strong relationships with key vendors, ensuring service excellence and value for money.

Strategic Sourcing & Negotiation:

Conduct strategic sourcing initiatives including fact-based negotiations (vendor and industry analysis, benchmarks and cost structure analysis)
Negotiate commercials terms and contracts with support from legal and Risk SME.
Mitigate contractual risks and ensure stakeholders understand and own residual risks.

Contract & Risk Management:

Ensure vendor treatment strategies are adequately contracted and communicated to the service owner and vendor relationship owner
Oversee and manage vendors’ exit strategies
Work with business owner to track vendors’ performance & compliance
Address and/or support the remediations of any Procurement findings derived from either Internal Audit or FRBNY examinations
Champion a risk-aware culture by demonstrating compliance and proactively mitigating Procurement related risks
Monitor market trends and regulatory changes affecting Procurement in financial services.

Process Improvement:

Continuously improve the TPM Lifecycle through a series of targeted enhancements

What we’re looking for:

Extensive experience working within Procurement in a financial services environment (ideally banking or FMI ( Financial Market Infrastructure)) and / or strong Procurement and operational experience across a range of categories in a financial institution or professional services
Strong knowledge of UK Procurement regulations and financial services compliance (FCA, EBA Reg HH, PSR, etc.).
Procurement and Supply Chain in-depth knowledge
Contract Law and legal knowledge relevant to Procurement activities
Leadership skills with a track record of building high-performing teams
Team Management / Coaching experience required
Ability to manage workloads directly and delegate effectively, fostering high performance levels among direct report(s)
Experience of applying Procurement skills and techniques to positively disrupt business strategy and outcomes
Problem solver: Proven track record in taking ownership for resolving issues within Procurement environment
Excellent Stakeholder management skills with the ability to build and maintain complex and multiple business stakeholder relationships
Demonstrated experience in embedding the highest standards of ethics, including regulatory and business conduct, across CLS
Team player with the ability to work constructively and flexibly in a regulated environment, including assisting in tasks which are not necessarily within their immediate responsibility when required
Strong collaboration and influencing skills with all stakeholders
Strong negotiation
Experience with Procurement digitalisation (e.g., Coupa, SAP Ariba, Oracle).
Commercial acumen & financial awareness
Risk management & compliance focus

Professional qualifications / certifications

- University degree and/or Procurement certification achieved (i.e. CIPS - Chartered Institute of Procurement & Supply)

Our commitment to employees:

At CLS, we celebrate diversity and consider this to be one of our strongest assets. We are committed to fostering an environment in which everyone feels comfortable to be who they are, and inclusion is valued. All employees have access to our inclusive benefits, including:

Holiday - UK/Asia: 25 holiday days and 3 ‘life days’ (in addition to bank holidays). US: 23 holiday days.
2 paid volunteer days so that you can actively support causes within your community that are important to you.
Generous parental leave policies to ensure you can enjoy valuable time with your family.
Parental transition coaching programmes and support services.
Wellbeing and mental health support resources to ensure you are looking after yourself, and able to support others.
Affinity Groups (including our Women’s Forum, Black Employee Network and Pride Network) in support of our organisational commitment to embrace and always be learning more about DE&I.
Hybrid working to promote a healthy work/life balance, enabling employees to work collaboratively in the office when needed and work from home when they don’t.
Active support of flexible working for all employees where possible.
Monthly ‘Heads Down Days’ with no meetings across the whole company.
Generous non-contributory pension provision for UK/Asia employees, and 401K match from CLS for US employees.
Private medical insurance and dental coverage.
Social events that give you opportunities to meet new people and broaden your network across the organisation.
Annual flu vaccinations.
Discounts and savings and cashback across a wide range of categories including health and retail for UK employees.
Discounted Gym membership – Complete Body Gym Discount/Sweat equity program for US employees.
All employees have access to Discover – our comprehensive learning platform with 1000+ courses from LinkedIn Learning.
Access to frequent development sessions on a number of topics to help you be successful and develop your career at CLS.

Director, Procurement - Corporate Services

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