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Role Requirement: Cost Manager
Reporting to: Property Delivery Lead Location: London
About the Role
The Cost Manager is responsible for driving commercial excellence and cost optimisation across the Royal London Asset Management (RLAM) portfolio. This role ensures maximum value for money is achieved while upholding operational service standards, fostering the portfolio’s peak commercial efficiency.
Purpose
The Cost Manager guarantees that all commercial activities and supplier relationships deliver optimal value, aligning with the operational objectives of the TSM (Team Service Management) and SSM (Special Services Management) teams. The role involves:
- Managing commercial relationships, procurement processes, and cost analysis
- Ensuring services are delivered within agreed budgets
- Identifying continuous improvement opportunities
Key Responsibilities
Strategic Cost Management
- Provide specialist commercial advice on cost optimisation strategies to support operational excellence.
- Lead in commercial analysis at an individual building level to ensure optimal cost performance and generate accurate financial reports.
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Procurement & Compliance
- Uphold procurement regulations, commercial compliance, and best practice procurement standards.
- Ensure all contracts yield value within agreed budgets and proactively seek cost reductions.
Relationship & Stakeholder Management
- Foster and develop commercial relationships between the Property Delivery Management Team, suppliers, and stakeholders for optimal value delivery.
- Effectively manage commercial aspects of supplier relationships, including cost performance monitoring and contract optimisation.
Performance Monitoring & Reporting
- Conduct regular commercial reviews to assess cost performance.
- Contribute to developing commercial frameworks and cost management platforms through data analysis and commercial insights.
More Specific Duties
- Provide commercial expertise for newly completed buildings to ensure cost-effective transition into operational phases.
- Ensure adherence to commercial compliance and cost optimisation in special projects and customer-specific requirements.
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Qualifications & Experience
Experience Minimum 7+ years of experience in:
- Commercial property cost management
- Specialist procurement roles
Professional Certification
- RICS (RS); membership, or an equivalent commercial qualification.
- Membership via: CIPS (Chartered Institute of Procurement & Supply)
Proven Track Record
- Deliver measurable cost savings and commercial improvements.
Skills & Competencies
- Effectively communicate complex commercial subjects to non-commercial stakeholders and team members.
- Produce detailed commercial reports and financial analysis.
- Demonstrate expertise in managing commercial change processes and promoting cost optimisation best practices.
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