Analyst, Market Data Services (Contract) - Toronto, ON

Scotiabank•Toronto, ON

3d•Hybrid

About The Position

Market Data Services is responsible for maintaining relationships with third-party data vendors and internal partners to ensure business and technology strategies are being met cost effectively while mitigating regulatory, financial, and reputational risks. In this role you will assist in managing a portfolio of existing contracts and new market data requests through all stages of the contract lifecycle, in alignment with relevant bank policies and business and enterprise objectives. Working closely with internal technology partners and business stakeholders to understand data requirements and sourcing for market data services.

Requirements

2+ years working in Capital Markets and/or Market Data industry would be an asset
Experience in procurement & contract negotiation, specific knowledge of market data contracts would be an asset
Ability to successfully work in a fast-paced environment with constant changing conditions
Highly organized with the ability to manage multiple ongoing projects at various stages
Must have strong relationship building skills and exposure to working with internal and external business partners
Must have the ability to communicate in both technical and business terms and managing stakeholder relations
Excellent written and verbal communication skills with experience presenting and translating technical concepts into business terms
Ability to develop actionable recommendations and implementation plans
Experience with negotiations and influencing decisions to obtain desired outcome
Excellent teamwork skills
Self-starter and independent worker
Technically adept with attention to detail and the ability to independently perform data investigations, analysis, identify issues and trends and to synthesize information into business terms and recommendations

Responsibilities

Assist in managing third-party vendor relationships in the category of Market Data (financial news/research, analytics, data and technology)
Manage timely execution of new engagements and existing contract renewals, working alongside internal business partners and external third-party vendors
Coordinate expense approval process within the framework and guidelines established for each business line
Maintain effective relationships with internal Scotia partners (Legal, Sourcing, Risk, Technology, etc) and external vendors to ensure business requirements are met, and objectives are aligned
Monitor vendor spend while identifying opportunities for cost savings/ avoidances, improving cost effectiveness and managing budgets/ forecasts
Understand contractual terms and conditions, and their commercial implications to the business to effectively manage vendor agreements and relationships
Develop and retain in-depth knowledge by attending multiple training sessions with various vendors to stay abreast of industry best practices
Monitor account usage to ensure compliance so all contracts are being used by the terms of the licenses provided by vendors
Facilitate risk mitigation by participating in implementing key controls and the resolution of risk/compliance/ invoicing issues
Provide input and review contract changes, prepare business-impact assessment and recommendations
Execute defined strategies to reduce costs, manage demand and improve internal controls.
Participate fully as a team member and contribute to a positive work environment that encourages productivity, professionalism, and teamwork
Ensure ongoing communication with the team on the status/progress of projects, issues and points of interest
Transfers knowledge and provide guidance to support business objectives