Commercial Policy Manager (Sourcing)
- Bank of England
- Leeds, West Yorkshire
- Sep 01, 2026
Job Description
Location: Leeds
We have an exciting new role in the Commercial Policy and Operations team at the Bank, leading how we deliver commercial sourcing policy and providing expert support and guidance to the rest of the organisation. This role is part of the Commercial division's Policy and Operations team, who deliver the policies, processes, systems and tools needed for the Bank to undertake commercial activity.
The Team
The team operates partly in a matrix management style, with most people dividing their time between their area of accountability (sourcing policy in this case) and pooled resource to work on cross-team projects. This enables the team to be dynamic and responsive around workload, drive collaboration and develop leadership skills at all levels.
This role will be responsible for ensuring we have effective commercial sourcing policies, processes and guidance in place, as well as leading on cross-team projects in a matrix management setup.
Role Responsibilities
This role will be responsible for:
- Setting out the forward-looking strategy for sourcing policy in the Bank, defining what is needed in this area and developing a plan to deliver it. This should include the required stakeholder management, communications, etc.
- Creating and maintaining the Bank's sourcing policies and processes.
These should seamlessly integrate with any other areas of the commercial lifecycle, notably supplier management, third-party risk management and responsible procurement, and integrate considerations from key stakeholders such as Legal.
The policies should align with public-sector legislation (including the National Procurement Policy Statement and applicable Procurement Policy Notes) and should be regularly reviewed and updated in line with benchmarking exercises, to ensure they reflect the latest best practice, and the processes should be continually improved to maximise efficiency and effectiveness. - Ensuring colleagues involved in sourcing (both inside and outside of the Commercial division) understand their role and how the policies and processes should be applied, and are enabled to do this, by producing and sourcing appropriate and tailored templates, guidance and training, and ensuring they are communicated and delivered to them.
- Providing sourcing policy expert advice and support for more complex and specific queries not covered by the training and guidance, in line with the latest best practice. This will also include ensuring the sourcing policies are considered as part of commercial governance and offering technical advice on these considerations.
- Being able to evidence progress in the Bank's approach to sourcing through the monitoring of key sourcing KPIs, such as compliance with notice publication requirements.
- Writing short business cases to support having access to the Policy team's resource pool.
You will also be part of a pool of resources across the team, enabling you to lead on some of the larger cross-team projects, depending on how workload varies across areas. These projects may cover matters across the whole of the Policy and Operations' team scope.
Although this is not a people management role, you will matrix manage other colleagues in the context of the projects you will lead. In those instances, you will be responsible for defining roles and responsibilities within your projects. You will develop the team through sharing information effectively, coaching and communicating a clear vision to ensure that your staff are productive, engaged and motivated to deliver the area's aims. You will also be expected to provide feedback to their line manager about their performance during your projects.
Role Requirements
Minimum criteria
- In-depth knowledge and experience of public-sector sourcing and current legislation
- Demonstrable experience of writing and rolling out public-sector sourcing policies
- Demonstrable knowledge of the rest of the commercial lifecycle (supplier management, responsible procurement and third-party risk management)
- Demonstrable knowledge of where and how to source the latest best-practice trends in public-sector sourcing
- Experience of creating and implementing strategies and delivery plans for their area of responsibility
- Ability to explain and present commercial matters to non-commercial colleagues, in the context of sourcing matters
Essential criteria
- Excellent stakeholder management skills
- Excellent problem-solving skills
- Creative and critical thinking skills
- Self-motivation, with past evidence of driving own workload
- Excellent written and verbal communication skills
- Customer-focused, with experience delivering high-quality service and continuous improvement.
Other criteria
If you do not already have it, you would be expected to achieve Level 4 CIPS (funded by the Bank).
- Currently a non-contributory, career average pension giving you a guaranteed retirement benefit of 1/80th of your annual salary for every year worked. There is the option to increase your pension (to 1/65th) or decrease (to 1/105th) in exchange for salary through our flexible benefits programme each year. The Bank has the discretion to vary standard accrual rates and dial up and dial down rates at any time and to withdraw dial up and dial down options at any time.
- A discretionary performance award based on a current award pool.
- An 8% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.
- 26 days' annual leave with option to buy up to 12 additional days through flexible benefits.
- Private medical insurance and income protection.
The Bank of England welcomes applications from all candidates, but as a UK Visas and Immigration (UKVI) approved sponsor, we have a responsibility to comply with the Immigration Rules and guidance. As such, our ability to employ individuals who require sponsorship for immigration purposes is limited. The Bank cannot guarantee that you and / or the role you are applying for will be eligible for sponsorship and that any application made to UKVI will be successful. Eligibility will therefore be considered on a case by case basis.
The Bank of England is the central bank of the United Kingdom. Sometimes known as the “Old Lady” of Threadneedle Street, the Bank was founded in 1694 with a founding charter that stated its purpose was to “promote the public good and benefit of our people”.
The Bank of England’s purpose today reflects that vision first articulated by our founders. Our mission: to promote the good of the people of the United Kingdom by maintaining monetary and financial stability.
Workplace Initiatives
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Program for parents returning to work after Parental Leave? |
We have a returner's session they can attend and our Parent's Network also run a separate returners session. |
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Leadership development programs? |
Yes |
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Mentoring programs? |
Yes |
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Coaching programs? |
Yes |
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Employee-led diversity networks? |
Yes |
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Internal women’s networking groups? |
Yes |
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Open to discussing flexible work arrangements at interview stage? |
Yes |
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No. of weeks paid maternity leave at full salary: |
26 weeks |
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Minimum weeks tenure required to be eligible for paid maternity leave: |
26 weeks service at the Qualifying week (15th week before due date) |
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No. of weeks paid paternity leave at full salary: |
2 weeks |
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Minimum tenure required to be eligible for paid paternity leave: |
26 weeks service at the Qualifying week (15th week before due date) |
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Gender pay gap reporting information 2019 (UK): |
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Mean pay gap: |
20.20% |
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Median pay gap: |
23% |
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Mean bonus (performance award) gap: |
21% |
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Median bonus (performance award) gap: |
22% |
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Signatory of the UK Women in Finance Charter? |
Yes |
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Targets to raise the number of women in leadership? |
Yes |
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Targets to raise the number of BAME individuals in leadership? |
Yes |
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Listed in the Bloomberg Diversity & Inclusion Index? |
No |
Returner Programme
We recognise that there is a large untapped talent pool of experienced professionals on a career break, including many high-calibre women who have taken time out of their careers for a variety of different reasons. As part of our inclusion agenda, the Bank is partnering with Women Returners, a specialist return-to-work organisation, to run the Bank of England Career Returners Programme to attract and support returning professionals, with coaching and training support provided by Women Returners and the possibility of a permanent role at the end of the programme.
Applicants will have to go through a short assessment process in order to gain a role. Applicants must have had a career break of two or more years to be eligible for the programme. All returners who gain a position will receive coaching support from Women Returners to help them transition back in to the workplace. The returners will be taking on real live budgeted vacancies – they are not specifically created roles. Flexible working options will be available, though we would ask that all returners attend the full induction.
Testimonials
" I had never thought about working in the public sector. I genuinely can’t remember why I decided to go to the Career Returners launch event at the Bank but it was literally life changing. I realised there was a place where I could work in financial services and still be able to care for my children. This was hugely different from when I was in investment banking. I was also very impressed by the level and quality of people in the Bank. I doubt I wouldn’t be working today if it was not for the programme – it is as simple as that."
"I’m not sure I would have come back to work in the City if I hadn’t have found something like this. Having young children and a long commute, I knew I wouldn’t find the flexibility I needed in the investment banking industry that I used to work in. Finding this scheme gave me the prospect of working part-time and flexibly without giving up on interesting and challenging work."
Working for The Bank of England
As a place of work, the Bank feels different from other organisations. The atmosphere is relaxed but professional, research-driven and connected to real events in the economy. While organisations in the private sector are focused primarily on profits, our objectives are the quality of our thinking and analysis.
Whichever area you join, it’s likely you’ll work on high-impact projects. The issues we deal with on a daily basis are often in the news, and affect everyone in the country. For many of our people, contributing to the public good is one of the most rewarding aspects of working here.
Our historic building is located in the heart of the City and combines rich tradition with up-to-date facilities. Just as important, a strong culture of support exists in the organisation.
The Bank is a member of the Disability Confident scheme. This means that applicants who declare a disability and who meet the minimum requirements of the job description are fast-tracked to the first stage of assessment.
The Bank also encourages Diversity of Thought, which inspires colleagues in every area to share different ways of thinking, working and achieving success. The aim of this is to promote creativity and encourage diverse approaches by inviting people with different backgrounds, skills or talents to present their thoughts and ideas.
In order to promote and support diversity in all its forms, we also have a number of Employee Networks:
LGBT+ AND ALLIES NETWORK
The LGBT+ and Allies Network is fully inclusive and open to every member of staff. This includes people who may not identify as LGBT+ themselves, but who actively support their LGBT+ colleagues, and promote a working environment where everyone – regardless of sexual orientation or gender identity – feels safe and confident to be themselves.
We are a Stonewall Diversity Champion and participate in the Workplace Equality Index most years. In 2018, we moved up 101 places in the index – a huge improvement in one year. Working with Stonewall, we are committed to improving LGBT+ diversity and inclusion even further.
DISABILITY NETWORK
The key objective of the Disability Network is to identify and remove barriers so that people with disabilities can achieve their full potential at the Bank. As well as supporting individuals with specific employment issues, the network organises events for all employees to raise awareness of the full range of disabilities and the challenges facing those who live with them.
MENTAL HEALTH NETWORK
This network is focused on improving people’s understanding of mental health issues. As well as highlighting the support available to colleagues, it organises and sponsors events to combat the stigma around mental health. In doing so, it aims to ensure that anyone affected by mental health issues – either directly or indirectly – feels more inclined to open up and seek help earlier.
WOMEN IN THE BANK NETWORK
The Women in the Bank Network aims to ensure that all women can flourish in the workplace. It’s open to everyone, regardless of gender, focusing on identifying and tackling issues that can hold women back in their professional development and job satisfaction.
Although we still have a way to go, our efforts to address the imbalance between male and female employees have already achieved considerable success. Of around 1300 staff here, 43% are women with 33% at Governor level.
BEEM NETWORK
BEEM was established to inform, inspire, advocate and promote Black, Asian and Minority Ethnic (BAME) related matters in the Bank. As well as ensuring BAME staff experience the same performance reviews, rates of pay and development opportunities as non-BAME colleagues, BEEM is committed to addressing the imbalance of BAME representation at a senior management level.
MUSLIM NETWORK
The Muslim Network connects and supports Muslim colleagues throughout the Bank, ensuring no one ever has to compromise their religious obligations or spiritual needs in order to excel in their professional role. As part of this, the network also organises events and activities to mark important Islamic celebrations and bring people together throughout the year.
JEWISH NETWORK
The Jewish Network is here to support all Jewish colleagues across the Bank, and help them celebrate and raise awareness of their shared faith. The network is proud of its inclusivity and welcomes members from all denominations and beliefs, including Orthodox, Conservative, Progressive, Cultural and Atheist Jews, as well as those who are not affiliated.
CHRISTIAN UNION
The Christian Union is open to Christians of any (or no) denominational background, as well as colleagues who don’t consider themselves Christians but are interested in finding out more about the Christian faith. Its members regularly come together to study the Bible, pray, talk and socialise, with a focus on their faith and how it influences their work and everyday lives.
CARERS NETWORK
Whether it involves looking after someone with chronic illness, disability or mental health issues, an elderly relative or young children as part of a family, being a carer can be tremendously rewarding. But it’s also extremely demanding. The Carers Network provides the information, advice and support colleagues need to balance that responsibility with a successful career.