Contract and Commercial Manager

Job Description

The VacancyOVERALL SUMMARYWe are looking for an experienced professional to take responsibility managing Contract and Commercial aspects of strategic third-party IT outsourcing arrangements at Close Brothers, implementing best practices and ensuring the achievement of CBLs strategicambitions. CBL is evolving it partnership model with key third-party organisations to ensure cost, service and innovation benefits. We are in the process of resetting our operating model and will be moving to a delivery model with one strategic partner delivering themajority of IT services. Key to achieving this will be robust third-party risk management and oversight. Through your expertise and influence, your in-depth knowledge of contracts, finance and commercial models, your understanding of the demands of workingin a regulated industry and your experience of managing the complexities of third-party sourcing relationships, you will ensure we navigate assuredly in delivering value and managing risk in these third-party arrangements. RESPONSIBILITIESThis is a high-profile, dynamic role, responsive to the needs of the business, Executives, stakeholders and issues that might arise. There may be no typical day as the Sourcing Contract and Commercial Manager. However, heres a snapshot of some of the keyparts of the job, Sourcing Contract and Commercial Manager Responsibilities: Is a contract SME:

• Knows and understands the contract in detail, answers contract questions and maintains an FAQ log
• Provides contract training and educates the wider IT organisation periodically to ensure stakeholders understand the contract terms and deliverables
• Interprets the contract and initiates resulting consequences
• Builds partnership roles with the CBL Business Owners, Internal Clients, Risk, Compliance, Legal and Finance teams in particular to ensure the contracts are operationalised and managed in line with business needs, relevant policies and processes.

Manages overall compliance with contractual terms & conditions:

• Leverages, and inputs into Third Party Management (TPM) Contract Management processes and tools (incl. related contractual templates)
• Develops an Obligations Tracker, establishes a process for Obligation tracking, assigns Obligation responsibilities and manages CBL and Service Provider compliance with obligations on an ongoing basis
• Ensures that all terms and conditions of the agreement are satisfied, contractual constructs are fit for purpose and mitigates any risk exposures
• Provides a structured process, rules of engagement and end-to-end support for contractual issue/dispute resolution
• Inputs into the end-to-end Supplier Audit process; ensures that appropriate audit controls are in place for Service Providers processes and invoices, in accordance with the process established in the CBLs Policy & Procedures Manual
• Manages Service Provider exit and termination assistance

Guards the commercial relationship with the Service Provider:

• Guards and owns the integrity of the pricing schedules and mechanisms and ensure they are fit for purpose
• Manages any re-pricing making use of existing contractual mechanisms for cost/price change
• Ensures any scope change or extension is commercially optimized using contractual mechanisms
• Verifies proposals and responses against contractual terms and conditions (including pricing, proposed charging mechanisms, chargeability of items) proposing the most appropriate solution for CBL
• Ensures commercial optimization of the contract by making use of contractual levers to limit or reduce cost and by educating the retained organization on the contractual mechanisms
• Inputs into evaluation of performance and approves any action plans resulting from critical service performance failures
• Acts as an escalation point for any billing issues/disputes
• Acts as the lead negotiator with support from TPM for all amendments, contract interpretations, new services and any other issues requiring contractual resolution

Further develops and improves the contract:

• Manages the end-to-end lifecycle process of Contract Change from development through to execution, including obtaining the relevant stakeholder approvals
  • Initiation and preparation of change request
  • Impact assessment and prioritisation
  • Negotiations with Service Provider
  • Final approval
  • Physical update of contract
• Evaluates innovation gainsharing mechanisms, and assures their alignment with the agreed-upon principles of innovation

Leads Contract and Commercial Management:

• Creates vision, clear direction and strategy for strategic outsourcing arrangement(s) for CBL business owners and stakeholders across the organisation
• Establishes, manages and coaches stakeholders from across the organisation and affiliate entities, to clear objectives and performance expectations in managing the contracts
• Constantly monitors process performance and improves working efficiency, effectiveness and impact
• Leads and enables enterprise-wide thinking across stakeholder teams

Works with the Finance and tax functions to ensure that proper financial controls are in place:

• Inputs into the designs and maintenance of Financial Management processes and tools (incl. related contractual templates). Leads on processes and tools specific to strategic outsourcing arrangement(s)
• Inputs into consistent methodologies for performing financial business reviews on effectiveness of the Service Provider relationship
• Ensures control framework implemented and continuously reviewed if applicable
• Ensures Service Provider implementation of required SOX controls if applicable
• Leads development of charge-back strategy and allocation methodology
• Approves financial aspects of contract changes - e.g. COLA adjustments

WE WOULD LOVE TO HEAR FROM YOU IF:

A minimum of 5 years experience of Contract and Commercial Management in a multi-business unit, regulated industry.

Demonstrable experience in managing Tier 1 Service Providers, contract terms negotiation and re-negotiation, financial control, planning and budgeting and managing the flow and gating of commercial documents and change.

Specific experience of ITO and BPO contract terms

A good understanding of different sourcing commercial models

Specific experience of ITO and BPO contract termsExcellent interpersonal, stakeholder a