The posting
At M&G, our purpose is to give everyone real confidence to put their money to work. With a heritage dating back more than 175 years, we have a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions.
Our two distinct operating segments, Asset Management and Life, work together to provide access to balanced, long-term investment and savings solutions.
Through telling it like it is, owning it now and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent.
We will consider flexible working arrangements for any of our roles and offer workplace adjustments to ensure you have the support you need to succeed in your role.
Role Purpose
The Category Specialist provides UK based commercial and analytical support to the Category Manager(s). The postholder builds the evidence that underpins category strategy, savings and negotiation, runs sourcing activity that requires UK stakeholder contact, and works with the India
Procurement team, which delivers execution work at scale. The role contributes directly to the category savings plan and to a responsive, credible service to the business.
Context
M&G Procurement is on a transformation journey, our objectives include: Identifying and delivering material, recurring cost reduction on M&G third-party spend; and materially improving how the business experiences Procurement, measured through an internal NPS. To achieve these objectives, Procurement is moving from a business unit aligned, generalist model to a category structure that operates as an internal commercial consultancy. The UK team offers the business deep category knowledge, strategic sourcing capability and negotiation expertise, so that M&G can compete with its vendors on commercial strategy.
Key Responsibilities
Savings and Value Delivery
• Find savings opportunities through spend analysis, such as price variance, fragmented suppliers, off-contract spend, unused licences and auto-renewals.
• Quantify savings using the agreed methodology and baselines, keep pipeline and savings records accurate, and track realised benefits against plan.
• Use usage and consumption data to show where demand exceeds need, for example unused licences, consultant days against deliverables or contingent workers past planned end dates, and prepare the evidence the Category Manager needs to challenge the business.
Commercial Analysis and Negotiation Support
• Analyse spend, compare rate cards, and model bids, prices and total cost of ownership.
• Prepare negotiation packs, run lower-value negotiations and support the Category Manager in complex negotiations.
• Research markets and suppliers, maintain category fact packs and track market and price movements.
Sourcing Delivery
• Run sourcing events that require UK stakeholder involvement in Market Dojo, managing timelines and clarifications, scoring responses and keeping the audit trail.
• Work with the India Procurement team on execution activity, giving clear requirements and checking outputs before they go to stakeholders.
Stakeholder and Supplier Support
• Manage day-to-day stakeholder contact on assigned activity and gather requirements clearly.
• Coordinate supplier reviews, track performance data and follow up commercial actions.
Contract, Risk and Governance
• Track renewal and notice dates and contract obligations, so that renewals are planned early enough to create competitive tension.
• Coordinate TPRM due diligence with the TPRM team and business owners, and keep procurement records accurate in the relevant systems.
Data, Digital and AI
• Use spend cubes, Power BI and AI-assisted analysis and drafting to build insight for the Category Manager, and question data rather than accept it at face value.
• Keep procurement data accurate in the system of record and eSourcing tooling.
Category Knowledge Requirements
The postholder needs working knowledge of the assigned category or categories, sufficient to support credible market engagement and analysis. The requirements for the category is set out below:
Working knowledge of per-user and subscription licensing and of auto-renewal and notice terms.
Able to use licence usage data to identify unused licences and support demand challenge.
Person Specification
Essential
• Experience in procurement, sourcing or category support, ideally within indirect spend.
• Working knowledge of the assigned category, or a closely comparable spend area.
• Strong analytical skills, including spend analysis, rate card comparison and total cost of ownership modelling, with advanced Excel.
• Experience running sourcing events and evaluating supplier responses.
• Able to work from the London or Kildean (Stirling) office for the majority of the working week.
Desirable
• Experience in a regulated environment such as financial services or insurance.
• Experience with Market Dojo or similar eSourcing platforms, Power BI and AI-assisted analysis.
• Experience working with offshore teams.
• Studying towards CIPS or an equivalent professional qualification.
Working Pattern
This role is based in London or Kildean (Stirling). The postholder is expected to work from their base office for the majority of the working week. The role supports UK stakeholder activity and works closely with Category Managers, which requires regular in person contact.
What we offer:
We’re dedicated to supporting your wellbeing and helping you thrive, both at work and beyond. Our benefits are designed to help you balance your professional and personal life, and financially plan for the future. Our UK benefits include:
- A valuable pension scheme of up to 18% (13% made up of employer contributions and 5% employee contributions).
- Access to our Share Save and Share Incentive Plan, alongside financial wellbeing and support services to help give you real confidence to put your money to work.
- Enjoy 38 days annual leave (including bank holidays), with the opportunity to purchase up to five extra days. Our Time Off When You Need It policy gives you the flexibility - to balance work and personal commitments.
- Our market-leading Inspiring Families policy includes comprehensive support and paid parental leave covering maternity, adoption, surrogacy, and paternity leave - because supporting families is an important part of our inclusive culture.
- Health & Protection cover includes Private Healthcare, Critical Illness cover and Life Assurance for you, with additional family options - for peace of mind.
To explore more about life at M&G and our full benefits offering, visit Life at M&G
At M&G we strive to have a diverse workforce and an inclusive culture, underpinned by our policies and employee-led networks that offer networking, support and development opportunities for the diverse communities our colleagues represent. We welcome applications from people of all backgrounds – across gender, ethnicity, age, disability, sexual orientation and more – including neurodivergent individuals, career returners and those with military service experience.
M&G is proud to be Level 3: Disability Confident Leader under the UK Government Disability Confident employer scheme, and we welcome applications from candidates with disabilities and long-term health conditions. If you would like to participate in the initiative, you will have the opportunity to indicate this on your application.
We are committed to providing an inclusive recruitment process. All candidates have the opportunity to request reasonable adjustments when applying. If you need any additional support at any stage, please contact us at: [email protected]
