Junior Procurement Analyst in IT - London - Contract

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• London
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• Pay.UK is currently hiring local talent for this position!

Summary

Pay.UK is seeking a Procurement Analyst for a 12-month fixed-term contract to support procurement activities. This role involves data analysis, reporting, market research, and contract support within the UK's retail payment systems environment.

Procurement Analyst, 12 Months FTC

We are looking for a Procurement Analyst to join Pay.UK on a 12 month fixed term basis, supporting the delivery of clear, well evidenced procurement activity across our organisation. This role suits someone with early to mid level procurement experience who wants to deepen their analytical practice while working on contracts and services that underpin the UK’s retail payment systems.

You will work closely with our Head of Commercial Deals and the wider Procurement team, using data, reporting and market research to inform procurement approaches, renewals and decisions. You will see your analysis used in live sourcing activity, contract renewals and internal guidance, giving you practical exposure to end to end procurement processes within a regulated, public interest environment.

Accountabilities

• Prepare spend analysis, KPI reporting and procurement insight to support strategic and operational procurement decisions.
• Support contract renewals by analysing supplier performance, pricing and contractual terms in line with Pay.UK procurement and TPRM policies.
• Participate in procurement due diligence, including reviewing supplier financial health and identifying value and risk considerations.
• Maintain and update procurement documentation such as NDAs, RFx packs and framework agreements.
• Support the refinement of procurement policies, processes and internal controls using evidence from current activity.
• Own and deliver assigned business as usual procurement tasks from the procurement pipeline, such as running low value sourcing activity, tracking milestones, and keeping records up to date, while checking in regularly with the Procurement team to agree priorities and next steps.
• Advise internal teams on how to run Tier 4 procurement in line with established policies.
• Prepare detailed spend analyses and KPI reports by extracting data from procurement systems, categorising spend by supplier and service, and summarising trends that inform sourcing strategies and day to day procurement decisions.
• Use our procurement systems, data tools and approved AI features to build and improve regular reports, automate repeat tasks where appropriate, and share practical suggestions that help the directorate work more clearly and efficiently.
• Analyse supplier performance, pricing models and contract terms ahead of renewals, and document clear recommendations that align with Pay.UK procurement and third party risk management policies.
• Review supplier financial statements, credit reports and market information as part of due diligence, and record identified value opportunities and risks in standard assessment templates.
• Create, update and organise procurement documents such as NDAs, RFx packs and framework agreements, ensuring versions are accurate, complete and ready for internal and supplier use.

Qualifications, Skills and Experience

• Practical experience applying procurement frameworks and processes, such as spend analysis, supplier performance review, contract renewal support, and RFx or framework documentation, gained through direct experience in a procurement analyst or procurement consultancy role.
• Experience analysing supplier, contract and spend data to support procurement decisions.
• Experience supporting IT or technology related procurement, including market analysis and requirements assessment.
• Ability to produce clear, structured reports that present analysis for non technical stakeholders.
• Experience analysing spend, supplier and contract data to inform procurement decisions, including renewals and sourcing activity.
• Ability to prepare clear, structured reports that explain analysis, risks and value considerations to non technical stakeholders.

Pay.UK Behaviours

At Pay.UK, our behaviours are central to who we are and how we operate. They bring our values to life, shape our culture, and guide how we make decisions, collaborate, and respond to challenges across the payments ecosystem. All interview processes will assess the following behaviours:

• Listen to Find Win-Wins - Empathy, Listening and Understanding
• Influence with Courage - Lead, conviction
• Go Horizontal First - Cross Boundary Collaboration
• Take Ownership - Self Development
• Opportunity Mindset - Initiative
• Simplify - Achievement Orientation

Inclusivity

At Pay.UK, we value diversity and inclusivity. Research has shown that candidates from underrepresented groups may hesitate to apply unless they meet all the requirements listed. We encourage all qualified candidates to apply, regardless of how closely their skills and experience match the requirements. We are committed to supporting accessibility needs and creating a welcoming environment for all employees.

Become part of our team and contribute to the creation of an inclusive work environment that values everyone's unique input.

Who we are

Pay.UK maintains and develops the UK retail payment systems and standards that are core to the economy being able to function on a day-to-day basis.

From Bacs to Faster Payments and cheques – we act as the single operator for all UK retail payments. We put the needs of consumers and businesses at the heart of everything we do, working in the public interest to ensure that the systems the country relies on for its banking transactions are safe, open, innovative and resilient.

Our payment systems underpin the services that enable funds to be transferred between people and institutions. In 2024, the UK's retail payment systems processed 11 billion transactions worth over £10 trillion through Bacs Direct Credit, Direct Debit, Faster Payments, and cheques, and our Current Account Switch Service has facilitated over 9 million switches since it’s launch in 2013.

Every day, individuals and businesses use the services we provide to get their salaries, pay their bills and make online and mobile banking payments. Our vision for the future is to enable a vibrant economy, with Pay.UK delivering robust payment infrastructure and standards for the benefit of consumers and businesses nationwide.

Learn more about life at Pay.UK by hearing what employees have to say, click here to view videos.

Benefits & additional information

• 12% Non-contributory pension
• Discretionary annual bonus
• 30 days annual leave (excluding bank holidays)
• Private medical insurance, life assurance, income protection, health cash plan, dental insurance, Bupa medicals etc
• Employee assistance programme
• Cycle to Work Scheme
• Season ticket loan
• Annual fitness subsidy of up to £500 per annum
• Working from home policy - minimum 40% in the office (eg. 2 days in the office over a 5 day working week)

Please note

• Some of our benefits are only available to colleagues after meeting the requirements of the probationary period.

Benefits

• Paid Time Off
• Training Budget
• Flexible Benefits

Responsibilities

Prepare spend analysis, KPI reporting and procurement insight to support strategic and operational procurement decisions. Support contract renewals by analysing supplier performance, pricing and contractual terms. Participate in procurement due diligence, including reviewing supplier financial health and identifying value and risk considerations.

Maintain and update procurement documentation such as NDAs, RFx packs and framework agreements. Support the refinement of procurement policies, processes and internal controls. Own and deliver assigned business as usual procurement tasks. Advise internal teams on how to run Tier 4 procurement. Prepare detailed spend analyses and KPI reports by extracting data from procurement systems.

Use procurement systems, data tools and approved AI features to build and improve regular reports. Analyse supplier performance, pricing models and contract terms ahead of renewals. Review supplier financial statements, credit reports and market information. Create, update and organise procurement documents.

Key Aspects

Fixed-term contract, data analysis, procurement processes, contract renewals, supplier performance, risk management, IT procurement support.

Apply for this Procurement Analyst in London role today via Placed.