Cost and Procurement Manager (Agile)| S3 | CFO | Milton Keynes

ISBAN - Grupo Santander; Milton Keynes; On-site; GBP 70,000 - 90,000; Full time

Job summary

A global financial services organization is seeking a driven Cost and Procurement Manager to lead strategic procurement initiatives in Milton Keynes. The successful candidate will manage complex sourcing and cost management projects to optimize costs and support mergers and acquisitions. This role requires significant experience in financial services and strong skills in supplier relationship management and cost analysis. The position offers opportunities to drive innovation and influence strategic business outcomes.

Qualifications

• Experience in strategic sourcing in financial services.
• Strong understanding of cost drivers impacting cost-to-income ratio.
• Proficiency in using procurement tools like Ariba.

Responsibilities

• Lead strategic procurement and sourcing across key categories.
• Drive cost transformation initiatives across Santander UK.
• Analyze complex spend and cost data to support decision-making.

Skills

Strategic sourcing

Cost optimization

Supplier relationship management

Advanced cost analysis

Tools

Ariba

Cost Plan

Job description

Cost and Procurement Manager (Agile)| S3 | Business Area | Milton KeynesCountry: United Kingdom**IT STARTS HERE**Santander () is evolving from **a global, high-impact brand** into a **technology-driven organisation**, and our people are at the heart of this journey. **Together**, we are driving a **customer-centric transformation** that values bold **thinking, innovation**, and the **courage to challenge** what’s possible.This is more than a strategic shift. **It’s a chance for driven professionals to grow, learn, and make a real difference**.Our mission is to contribute to help more **people and businesses prosper**. We embrace a strong risk culture and all our professionals at all levels are expected to take a proactive and responsible approach toward risk management.**CFO (Cost & Procurement) -** Santander UK is increasingly reliant on the third parties which underpin our operations. The Cost & Procurement team are undertaking a multi-year transformation focused on creating a platform to drive significant incremental value through the creation of an operating model with the capability to maximise the potential of this supplier ecosystem via connection & delivery of the right external expertise to meet the future demands of Santander and in turn, to drive best value whilst complying with regulation and Santander risk appetite.**THE DIFFERENCE YOU MAKE**The Cost Management and Procurement is looking for a highly passionate, forward thinking and driven Cost and Procurement manager, to manage a suite of an Agile Categories and workstreams based out of Milton Keynes.This is an expert role at the heart of Santander UK’s cost and procurement agenda. You will lead complex sourcing and cost management initiatives that help the bank achieve its cost-to-income targets, unlock value from our third-party ecosystem and support key strategic programmes, including merger and acquisition (M&A) activity. Working across the Cost and Procurement function, you will provide analytical, commercial and strategic leadership to senior stakeholders, ensuring we get the best value from our suppliers while managing risk and regulatory obligations.We’re **shaping the way we work** through innovation, cutting-edge technology, collaboration and the freedom to explore new ideas. To succeed in this role, you will be responsible for:* Leading end-to-end strategic procurement and sourcing activity across key categories, from demand shaping and market engagement through to contract execution and close, ensuring that total cost of ownership and value-for-money are optimised* Supporting the organisations transformation plans, supporting key business activity such as mergers, acquisitions and other strategic transactions, including cost due diligence, analysis of standalone and combined cost bases, synergy identification, and the design of supplier and contract integration or separation plans* Driving cost transformation activity across Santander UK by designing, improving and embedding cost reporting, management information such as dashboards that give senior leaders clear insight into cost performance, cost drivers and levers to improve the cost-to-income ratio.* Analysing complex spend and cost data across suppliers, contracts, categories and business areas to perform cost driver analysis, benchmark external markets and develop robust business cases and options for executive decision-making.* Partnering with senior business stakeholders and strategic suppliers to develop sourcing and commercial strategies that unlock cost efficiencies, innovation and risk reduction, including value-sharing and performance-based commercial models.* Ensuring that all procurement and M&A-related supplier decisions comply with third-party risk, legal, regulatory and policy requirements, including robust due diligence, onboarding, ongoing monitoring and exit planning.* Coaching and constructively challenging stakeholders through the sourcing and transaction lifecycle so that specifications, commercial structures and business cases reflect realistic cost assumptions, risks and benefits.* Contributing to financial planning and forecasting by tracking budgets, challenges, risks, opportunities and benefits across your portfolio, and clearly articulating the cost impact of sourcing decisions and M&A activity.**WHAT YOU’LL BRING**Our people are our greatest strength. Every individual contributes unique perspectives that make us stronger as a team and as an organisation. We’re **enabling teams to go beyond** by valuing who they are and empowering what they bring.The following requirements represent the knowledge, skills, and abilities essential for success in this role. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.**Professional Experience*** Significant experience leading high-value, high-risk strategic sourcing and cost optimisation initiatives in a regulated financial services environment, with a strong understanding of how cost drivers impact the cost-to-income ratio. (Required)* Demonstrable experience of managing complex cost bases in a large financial services organisation, including deep understanding of key cost drivers such as third-party spend, technology, change, property and headcount, and how these translate into budgets and financial performance. (Required)* Hands-on experience leading or supporting procurement and cost workstreams on mergers, acquisitions and/or large strategic transactions, including cost due diligence, synergy sizing, one-off cost assessment and post-deal integration or separation of suppliers and contracts. (Preferred)* Proven track record of using data and financial MI to perform detailed cost driver analysis, scenario modelling and total cost of ownership assessment, and turning these insights into clear recommendations and business cases for senior and executive stakeholders. (Required)* Experience of supplier relationship management and performance management for strategic suppliers, with a focus on driving cost, service and innovation benefits across the contract lifecycle. (Required)* Experience of operating in an agile, fast-paced change environment and influencing across multiple business areas, functions or entities (including Group/Global). (Preferred)**Hard Skills*** Strong understanding of strategic sourcing, category management and supplier relationship management, including the ability to link sourcing strategies directly to cost outcomes and business strategy. (Required)* Advanced cost analysis and financial modelling skills, including cost driver analysis from source-to-pay, total cost of ownership, scenario and sensitivity modelling, and the ability to link operational drivers to P&L and cost-to-income performance. (Required)* Knowledge of UK contract law and extensive experience negotiating complex commercial contracts (including IT and services), with a focus on optimising cost, managing risk and creating flexible structures that support M&A, integration and separation activity. (Required)* Strong understanding of third-party risk management and UK financial services regulation as it relates to outsourcing and suppliers, and how this interacts with cost, value and speed of delivery. (Required)* Proficient in using procurement, cost management and portfolio tools (e.g. Ariba, Cost Plan, Planview or similar) to track spend, cost initiatives, benefits and compliance. (Preferred)* Experience designing, tracking and reporting M&A cost synergies, dis-synergies and integration/separation costs, including building clear, auditable MI that can be used in approvals and post-deal reviews. (Preferred)**Soft Skills**Commercially astute and highly cost-focused, able to balance cost, risk and value in complex sourcing, budgeting and decisions, and to challenge constructively where proposals do not optimise the bank’s cost base.**WE VALUE YOUR IMPACT**At