Complex Procurement Lead - Notes Directorate (23 month FTC) (2 roles)

at  Bank of England

DEPARTMENT OVERVIEW

The Procurement department is responsible for ensuring value-for-money for the Bank, compliance with the procurement policies and regulations, and managing third-party risk.

DESCRIPTION

The Bank exists to ensure monetary stability and to contribute to financial stability; the Central Operations Directorate provides the infrastructure and services required to support the Bank’s critical functions.
The Notes Directorate fulfils the Bank’s obligations as the sole issuer of banknotes in England and Wales, and to maintain confidence in the currency.

With staff across Threadneedle Street and Debden and Leeds, we rely on expertise in diverse fields such as economic and quantitative modelling, policy and risk analysis, operations, public communications and science. In fulfilling this important and highly visible public role, it is important that we ensure:

• the public has access to genuine, high-quality banknotes in a range of denominations; anda well-run cash industry exists to supply banknotes efficiently across the country.

• In addition to our role in relation to Bank of England notes, Notes Directorate fulfils the Bank’s statutory responsibility to ensure public confidence in banknotes issued by Scottish and Northern Ireland (S&NI) banks.
  The Bank have a long-term contract with its banknote printer, De La Rue. This contract is due to expire in 2028 and a new tender process is required to be run in 2026. In addition to the print contract tender, the Bank is tendering for components that go into the manufacturing of our banknotes.

JOB DESCRIPTION

This role is responsible for leading procurement and sourcing activities in compliance with the Public Contracts Regulation 2015, the Procurement Act 2023 and Bank policy. The roles will be embedded in the Notes team within the Bank to act as the project’s Tender Lead, responsible for all aspects of the procurement activity from strategy development, through the delivery of the procurement to award, contract signature and into mobilisation and contract/vendor management.
You will be the commercial lead for the project and adopt a matrix style of working, reporting into the FM/Notes Commercial Business Partner but on a day to day basis, embedded into Notes Team.

With staff across Threadneedle Street and Debden and Leeds, we rely on expertise in diverse fields such as economic and quantitative modelling, policy and risk analysis, operations, public communications and science. In fulfilling this important and highly visible public role, it is important that we ensure:

• the public has access to genuine, high-quality banknotes in a range of denominations; anda well-run cash industry exists to supply banknotes efficiently across the country

You will be responsible for:

• Engaging with strategic stakeholders to understand business requirements and the need for change
• Developing procurement strategies for complex procurements in compliance with the Public Contract Regulations 2015, the Procurement Act 2023and in accordance with Bank Commercial Policies and Supplier Management Standards
• Running complex sourcing exercises using your experience to ascertain what strategies would be appropriate for the Bank’s requirements. This is envisaged to involve running a single large scale strategic procurement
• Supporting the business area to develop Contract Management Plans in accordance with Bank policies and industry best practice to ensure the successful delivery of the programmes’ strategic aims post-procurement.Where appropriate, acting as the procurement SME in the programmes’ governance and senior leadership forums through the procurement initiative and delivery phase