Inside the CPO Agenda Financial Services

Interview Highlights

What was your starting point and what needed to change? 

Where are the biggest barriers?

When I joined the group, the first issue was clarity. Over the next three years we redesigned processes, redrew mission scopes and rolled out new tools. The shift moved us from reacting to business requests toward anticipating them. Data now drives our decision-making – spend metrics, gains, decarbonisation, regulatory compliance. We are round halfway to our target, but the foundations of structure, digitalisation and governance are in place.  

This evolution reflects a broader trend in the sector: financial institutions that strengthen their data foundations and embed analytics into daily decisions can cut costs by up to 40% and increase profitability by more than 30% compared with traditional peers (BCG Retail Banking Report 2025).

Our challenges are structural and practical – reflective of transformation in a large cooperative group.  

1. Digitalisation: Some tasks remain manual due to limited investment. We automate where possible, but tools for supplier qualification and RSE management are not yet fully deployed. It is a matter of budget and timing; the ROI is clear, and we prove it via pilots.  
2. Alignment: Some business units engage deeply with procurement; others less so, which slows consistency.  
3. ESG frameworks: Regulations are still evolving, so teams committed to doing things right face ambiguity and extra work.  
4. Fragmented governance and inconsistent adherence to group-wide processes.  

How is procurement positioned today compared to then? 

What kind of profiles are you hiring now?  

We have made real progress. In the past I would enter meetings relying on supplier data. Today we bring our own figures – and that changes the conversation entirely. Having reliable internal data gives us legitimacy with the business. It is still a work in progress, but now collaboration is far more effective.  

We now recruit buyers with strong data and IT skills who can handle both compliance and analytics. Rigour in documentation remains essential, but we also want curiosity and adaptability. Market understanding and sourcing skills still need development, so we favour people who work close to the business. We hire hybrid talents – buyers trained in procurement who have also worked in consulting or finance – because they connect data, strategy and execution.  

What are your strategic priorities? 

The main strategic objectives include regulatory compliance, sustainable purchasing practices, and performance-based procurement.   

Across the industry, revenues have grown globally on average by around 7% a year since 2019, but rising costs continue to erode margins (BCG Retail Banking Report 2025). This pressure makes performance-driven procurement a key source of impact.   

Together with Finance, we defined how value is assessed – only savings that show up in the P&L count in our procurement plan. Everything else, like limiting a price increase, falls under “contribution.” The aim is to develop shared performance targets between Procurement and Business Units by 2028.

What are you most proud of? 

The mindset shift. Redesigning our processes around data and governance gave real meaning to the buyer role and brought everyone onto the same page. There’s now a shared process, clear purpose behind each step and understanding of why it matters. That clarity has built confidence and engagement.   

We’ve also made headway in professionalising how we work – stronger preparation, smarter negotiations and smarter use of data in daily decisions.  

How are you driving change inside the team?

What would help procurement reach its full potential across the group?

We have assigned every buyer a portfolio – contracts, suppliers, spend and business  areas to own and develop. This gives them autonomy and shifts mindset from service to development. The change means we no longer wait for tasks; we plan ahead. It also gives us clear visibility into what each buyer delivers.

It starts with a unified model and one group process that everyone follows. Exceptions should exist only when clearly justified. Harmonisation gives procurement weight and visibility across a large organisation. I’d also keep the function within Operations rather than Finance. It keeps the conversation closer to business priorities and positions procurement as a true partner, not just a cost controller. For now, we focus on testing, learning, and improving step by step – that’s how real, sustainable progress is made.