Commercial Director (6 month FTC) - Financial Services Tech Consulting firm
Job Description
Commercial Director
6 month fixed term contract
Financial Services Tech Consulting firm
London (Hybrid working - 1 day per week in the office)
The role
· Work with product owners, sales managers, and technical colleagues to ensure that services are documented effectively to cover technical, functional and service scope and performance metrics / SLA’s.
· Take the individual services through a process of vetting and approval for Operations & Compliance, Finance, Legal and Sales requirements.
· Collaborate with internal stakeholders to ensure supplier and customer contracts support the viability of new and existing services and the goals of the company.
· Collaborate with internal stakeholders to develop standard Service Level Agreements that are well defined and conform to industry good practice.
· Provide advice to internal teams on commercial and contractual matters.
· Ensure customer-facing service levels are either backed off in supplier contracts or associated risks are mitigated to acceptable levels approved by senior management.
Report to senior management on customer/supplier contract risks.
· Draft or review client contracts (master services agreements and statements of work) and supplier contracts and ensure they support the viability of new and existing products, including profitability of products in line with internal requirements and the products’ business case.
· Create appropriate master services agreements and statements of work for customers to embody the commercial terms.
· Agree customer/supplier contract amendments through negotiations with relevant internal and external stakeholders.
· Proofread, summarise/report, and approve customer/supplier contracts.
· Ensure standard contract templates are kept up to date as the product portfolio and service descriptions change.
Manage and monitor performance of the end to end processes.
End-to-end ownership of all formal bidding processes (RFI, RFP) being directly responsible for all legal and procedural aspects and driving the delivery and commercial input as required from sales, pre-sales and delivery to ensure deadlines are met and submissions meet requirements.
· Create and maintain customer/supplier contract and procurement policies and processes.
· Manage customer/supplier contracts and ensure obligations are met prior to contract signature and during the life of the contract
· Post-contract review and cost management.
· Ensure relevant customer and supplier checks are completed in line with e.g. AML, ABC, FCPA policies.
· Implement process and tools to enable customer/supplier contracts management to be reportable and actioned across the business.
· Manage and maintain the customer/supplier contract database.
· Maintain approval process for customer/supplier contracts to ensure relevant checks and balances are completed.
· Document and report on customer/supplier contractual requirements.
· Minimise risk to the business of a failure to meet customer/supplier contractual obligations.
Continuous improvement of contract content and ensure contracts are consistent with the product portfolio, internal policies and strategy.
Requirements
· Experience of contracting for managed services within banking and capital markets.
· Experience of running and responding to procurement RFPs for managed services, PaaS, SaaS.
· Knowledge of banking and capital markets industry.
· Customer/supplier contract development experience for managed services, preferably in FinTech for banking and capital markets.
· Contract lifecycle management experience.
· Understanding of procurement and legal processes of tier 1/ tier 2 investment banks.
· Experience of managed service provision in regulated industries (e.g. SOX, SOC2 etc).
· Experienced negotiator with customers and suppliers.
· Experience of packaging of multiple supplier contracts to provide a standardised contract to customers.
Experience in summary reporting for senior management and other stakeholders.
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