At M&G our vision is: to become the best loved and most successful savings and investment business and we're looking for people who are excited about joining us on our journey. We're digitally transforming and investing heavily in technology and innovation to develop new and improved customer propositions that really raise the bar for our customers. To help us achieve our vision we're looking for exceptional people who live our values and behaviours and who can inspire others; embrace change; deliver results and keep it simple.
We know that an inclusive environment makes us more accessible and ensures we attract, engage, promote and retain exceptional people. We welcome applications from all individuals regardless of age, gender/gender identity, sexual orientation, ethnicity/nationality, disability, or military service and welcome those who have taken career breaks. We will consider flexible working arrangements or home working arrangements for any of our roles.
What you can expect from us: We are committed to creating an environment where you can be exceptional at all you do. To help us deliver this, we promise to:
Challenge Your Limits by creating a stimulating working environment and providing opportunities for you to be involved in meaningful and challenging work
Support Your Aspirations with a commitment to learning and development that helps you achieve and build your experience with people who want you to succeed
Value Your Input whereby leaders and managers will involve you in key decisions, listen to your thoughts and recognise the important contribution you make
Balance Your Life through a work life partnership that focuses on making this an inclusive, diverse and friendly place to work and offers the flexibility and support that enables everyone to be at their best
How do we support our employees: All M&G plc employees will be supported in the workplace through our M&G Employee Assistance Programme (EAP). If you need counselling, confidential financial or legal advice. The service is available 24 hours a day, 365 days a year and offers access to qualified professionals who can provide specialist information, advice and support on many issues. It offers a broad range of services, including help with family issues, maintaining work/life balance and mental health support.
The Role: M&G outsources two thirds of its operational business and key parts of its services to suppliers and therefore must ensure the successful commercial management of these supplier relationships.
Due to the size and complexity of these contracts, dedicated senior management is required. The Commercial Manager will manage the day to day commercial aspects of M&G's major contracts supporting our Fund Services area of the business, including the management of commercial risks to M&G , cost forecasting and the realisation of benefits. Examples of services under the scope of this role are Transfer Agency, Custodian, Depository, Fund Accountancy and other asset management related activities
The Commercial Manager will be responsible for maintaining appropriate contractual controls, as well as well as ensuring that M&G is receiving value for money. The role holder will act as a trusted adviser to the business, Fund Services, helping them to understand the commercial implications of any actions or decisions, and identifying the levers that are available to use in order to maximise benefits and achieve the best outcome for M&G, whilst ensuring ongoing and appropriate governance is in place across the lifecycle of the contract.
The role-holder will be expected to know and understand the provisions of the relevant contract and services, to be able to challenge and influence in order to get the best value for money for M&G whilst protecting it's interests within the constraints of the contract.
Key Work Level Accountabilities: Manager or Expert:
For people managers, accountable for managing and motivating others to ensure quality of delivery to customers and stakeholders
For technical specialists, accountable for delivering expert advice or service, using specialist knowledge and subject matter expertise
Applies judgement to deliver outcomes, evaluating a range of potential solutions, considering the impact for customers, cost and risk
Manages conflicts that may impact delivery
Challenges upwards given knowledge of delivery and awareness of complex systems and the broader picture
Identifies and anticipates need for changes to continuously improve quality and efficiency of output
Manages resources and risks using expert judgment, know-how and experience
Key Responsibilities for this role: To lead the day-to-day commercial and contract management of one (or more) of M&G's major suppliers, including the management of commercial risks to M&G, and the realisation of benefits. The following are the key areas of responsibility :
Manage all day to day commercial and contract issues, including significant change or renewals activities
Ensuring appropriate governance across the lifecycle of the contract
Lead the development of commercial strategy and identify commercial risks and opportunities.
Point of escalation for supplier related issues.
Ownership of supplier cost management and forecasting
Trusted advisor to M&G service owners ( senior management ) , helping to understand commercial implications ( both value and risk ) of any actions or decisions.
Sets direction to Commercial Analysts and ensures adoption of M&G supplier management standards.