Job Description

Procurement & Vendor Manager | Manchester

Monex specialises in FX risk management and international payments, helping corporate and institutional clients design tailored FX solutions to navigate currency volatility with confidence. Our team of FX specialists implement well-considered currency strategies, offering dedicated support to help clients manage their payment needs – whether for goods, services, or direct investments.

In 2023, Monex facilitated $309 billion in FX turnover, managed $10.7 billion in assets, and processed 8.5 million transactions. With offices across North America (Canada, the US, and Mexico), Asia (Singapore), and Europe (the UK, Spain, and the Netherlands), we serve over 66,000 clients worldwide.

By combining global reach with deep local market expertise, Monex enhances businesses with a suite of financial solutions and FX market analysis to help optimise efficiency, mitigate currency risk, and protect margins in an increasingly complex financial landscape.  Our corporate client experience is further enhanced by our dedicated sector expertise across a range of industries.

Department Overview

The Procurement function is responsible for acquiring the goods, services, and work required to support the organisation's operations while delivering value for money, managing risk, and ensuring compliance with corporate policies and applicable regulations.

Working collaboratively with stakeholders across the business, the procurement function develops sourcing strategies, manages supplier relationships, negotiates contracts, and oversees purchasing activities to ensure the timely and cost-effective delivery of products and services. Procurement also plays a key role in supporting operational continuity, driving efficiencies, promoting innovation, and achieving sustainability.

The Procurement function partners closely with Finance, Operations, Legal, IT, HR and Office Services to ensure procurement activities align with organisational priorities and strategic objectives. Through continuous improvement, market intelligence, and effective supplier management, the department should seek to maximise value, enhance service quality, mitigate commercial risk, and contribute to the organisation's long-term success.

As Procurement Manager, you will be responsible for building and operating the overall Procurement function, this includes but not limited to all areas of company Sourcing/Purchasing, Supplier Management.

Taking accountability and leadership on all procurement efforts to maximize value whilst incorporating a compliant policy throughout to ensure there is a robust end-to-end Procurement process efficiently and effectively across Monex.

Key Responsibilities & Accountabilities:

• Responsible for creating and owning the procurement and supply chain strategy and identifying any gaps against any existing policy and procedures, whist creating new ones if needed.
• Drive demonstrable operational savings through working with each global function by aligning procurement with the function strategy, driving synergies and consolidation, or looking for more cost effective solutions.
• Build a KPI framework and agree quarterly procurement target savings through aactive management of third-party spend and renewals.Lead all procurement related operational matters, driving cross-team and customer collaboration. Creating, setting and leading the overall direction for the procurement policy, spend analytics, procurement related regulatory standards, risk, assurance, governance and compliance matters related to third party spend.
• Manage the lifecycle of sourcing and procurement activity, from planning and bid preparation to budget/forecasting, negotiation, conracting invoicing, reporting and renewals.
• Develop product category strategies aligned with business needs, build a supply chain capable of delivering the desired service levels, at competitive cost and ensure suppliers are willing to invest in the strategy.
• Drive savings by developing and applying strategies including volume leverage, supplier concentration, supply chain segmentation and negotiate prices, schedules and other terms as required.
• Develop collaborative long-term partnerships with suppliers, contractors and outsourced service providers to reduce costs, to meet legislative requirements and achieve high quality outcomes.
• Ensure that procurement activity is compliant with all relevant regulatory and best practice frameworks, including DORA, operational resilience and ISO27001.
• Provide strategic supply base management including supplier selection, negotiations, and supplier relationship/performance management.
• Lead strategic development, improvement and implementation of best practice procurement frameworks and tools, adapting with customer needs, changing business and external market priorities.
• Lead the engagement and influence of senior leaders, challenging operational and governance-based decision making.
• Create a collaborative model for sustainable procurement operational success (ESG).
• Lead when required external market assessments specific to operational, sustainability and CSR matters e.g. market trend analysis, market dynamics, market shifts, new product offerings, innovation and trends.
• Support business-critical supplier risks and assurance matters.
• Establish and maintain strong relationships with key internal/ stakeholders.
• Lead/ oversight on market tenders/ evaluation processes when required across a cross-functional teams to determine supplier selections, understanding business requirements and structure.
• Support contract owners with questions related to compliance with regulations when taking in new suppliers or working with existing ones.
• Drive strategic initiatives further to develop the procurement process and its supporting material.

Business Knowledge / Technical Skills:

• Proven success in establishing credibility, respect, and trust with teams and executive leadership in a complex global environment.
• Experience in navigating and understanding commercial agreements.
• Well-developed negotiation and conflict resolution capabilities.
• Strong business judgement, instincts, and organizational skills.
• Having a strong ability to read and understand legal requirements and know how to apply them to strategies, structures, and processes that foster compliance.

Leadership / Management Skills:

• Leads by example, embodying the culture and values of the Company;
• Cultivate an environment of psychological safety, innovation, creativity and increased productivity;
• Able to anticipate issues and risks and mitigate accordingly;
• Credibility in dealing with clients and colleagues across a complex organisations with different cultures and geographies;
• Ensuring and maintaining the standard of all documentation for their department’s systems, controls, policies and processes;
• Maintenance of decision-making records;
• Previous line management experience essential.

Systems / Knowledge Skills:

• MS Office; Outlook, Word, advanced Excel including V-Lookups, pivot tables;
• HR Systems – Workday