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Vendor Manager

LSEG · Posted Oct 9

Global financial markets infrastructure, data, and analytics services

Bengaluru, India (Divyasree Technopolis)Full-timeOnsiteSenior Level5–10 years₹25.0L–₹40.0L yearly72 applicants
Financial ServicesFinancial ExchangeData & AnalyticsMarket InfrastructureFintechPublic Company
Comp. & BenefitsFull time

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About the role

Vendor Management is accountable for the Technology services and products delivered globally by Vendors within LSEG's Engineering Operations, covering the full contract life cycle, vendor performance, governance and financial control. LSEG is a leading global financial markets infrastructure and data provider. This Vendor Manager role owns pre-contract and post-contract vendor relationships, including sourcing collaboration, contract renewals and terminations, vendor account plans and performance metrics, and invoice validation, forecasting and cost-benefit analysis together with Finance, Business and Sourcing teams.

What you will do

  • 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.
  • 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
  • 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
  • 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
  • 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
  • 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 upon analyses

Skills used in this role

ITILCIPSOffice 365E-Procurement ToolsVendor ScorecardsCustomer SurveyingNegotiationStrategic SourcingContract ManagementRelationship BuildingCommunicationPresentationCustomer ServiceWritingGovernanceFinancial ManagementForecastingInvoice Analysis

What the employer is looking for

  • 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

Benefits and support

  • healthcare
  • retirement planning
  • paid volunteering days
  • wellbeing initiatives

About LSEG

LSEG logo

LSEG

Company website
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London Stock Exchange Group (LSEG) is a leading global financial markets infrastructure and data provider. The company operates connected businesses to serve customers across the entire financial markets value chain, including data and analytics, indices, capital formation, trade execution, clearing, and risk management.

Industry
Financial Services
Company size
20000+ employees
Founded
2007
Location
London, England, UK
Funding stage
Public Company

Leadership

DS
David Schwimmer

Group Chief Executive Officer

MP
Michel-Alain Proch

Chief Financial Officer

IH
Irfan Hussain

Chief Information Officer

PB
Pascal Boillat

Chief Operating Officer

EB
Erica Bourne

Group Chief People Officer

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