Job Information
MUFG VP Procurement in London, United Kingdom
Do you want your voice heard and your actions to count?
Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), the 7th largest financial group in the world. Across the globe, we’re 160,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.
With a vision to be the world’s most trusted financial group, it’s part of our culture to put people first, listen to new and diverse ideas and collaborate toward greater innovation, speed and agility. This means investing in talent, technologies, and tools that empower you to own your career.
Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.
Overview:
We are seeking a dynamic and experienced VP of Procurement to report into the Head of Procurement. The ideal candidate will have experience in supporting service delivery and overseeing outsourced and offshored procurement and accounts payable teams. The functions main focus is on cost savings and process efficiency, which will need an individual comfortable analysing multiple data sources and interpreting this into improvement plans. As the procurement team has been outsourced there is a need to ensure we have robust governance over all aspects of the function, looking at themes within the data to ensure that we steer the team towards the latest requirements of the firm.
Role requirements:
Governance & reporting
Policy and Procedure drafting to ensure we keep pace with new requirements and also define a framework that encourages competition and takes into account and ESG factors that are to form part of decision making
Review and take action where necessary on all Key Performance Indicators (KPIs) for the function
Ensure that the risks of the function is continually managed and reported over using the relevant control and reporting systems
Procurement
Review procurement strategies and support the teams in gaining support for new approaches
Experience in negotiation of contracts and agreements with suppliers with a clear view of regulatory expectations from the PRA and EBA
Experience in managing outsourced functions measuring to existing KPIs and also focus on adapting and improving these to align the existing business needs to the procurement function
Support the procurement function to identify opportunities for cost savings and process improvements within the procurement and accounts payable functions
Analyse spending patterns, identify inefficiencies, and implement corrective actions to achieve cost reduction targets
Monitor KPIs to track progress and measure the effectiveness of cost-saving initiatives
Accounts Payable Management
Strong knowledge of Accounts Payable Systems and Procure to Pay systems
Be able to provide strategies to benefit from automation solutions to improve efficiency and reduce processing times
Compliance and Risk Management
Knowledge of the industry regulations, and legal requirements related to procurement and accounts payable
Experience in mitigating risks associated with supplier relationships, contract negotiations, and payment processing activities
Understanding of how to implement controls and procedures to safeguard company assets and prevent fraud or misuse of funds
Qualifications
• Proven experience (5 years) in procurement and accounts payable management, preferably in a multinational corporation or outsourcing environment.
• Strong leadership skills with the ability to motivate and inspire teams to achieve objectives.
• Excellent negotiation, communication, and interpersonal skills.
• Advanced analytical skills with the ability to interpret data and make data-driven decisions.
• Proficiency in procurement software, ERP systems, and Microsoft Office Suite.
• Knowledge of industry best practices, regulatory requirements, and emerging trends in procurement and accounts payable.
• Ability to thrive in a fast-paced, dynamic environment and adapt to changing priorities and business needs.
We are open to considering flexible working requests in line with organisational requirements.
MUFG is committed to embracing diversity and building an inclusive culture where all employees are valued, respected and their opinions count. We support the principles of equality, diversity and inclusion in recruitment and employment, and oppose all forms of discrimination on the grounds of age, sex, gender, sexual orientation, disability, pregnancy and maternity, race, gender reassignment, religion or belief and marriage or civil partnership.
We make our recruitment decisions in a non-discriminatory manner in accordance with our commitment to identifying the right skills for the right role and our obligations under the law.
At MUFG, our colleagues are our greatest assets. Our Culture Principles provide a roadmap for how each of our colleagues must think and act to become more client-obsessed, inclusive and innovative. They reflect who we are, who we want to be and what we expect from one another. We are excited to see you take the next step in exploring a career with us and encourage you to spend more time reviewing them!
Our Culture Principles
Client Centric
People Focused
Listen Up. Speak Up.
Innovate & Simplify
Own & Execute