Enterprise Market Data and Professional Services Category Manager

Morningstar•Chicago, IL

1d•Hybrid

About The Position

The Enterprise Market Data and Professional Services Category Manager is a strategic role for a seasoned professional with a proven track record in market data procurement and strong leadership capabilities. This position is responsible for developing and executing a long-term category plan for Enterprise Market Data, which includes market data, research, analytics, credit ratings, and housing-related datasets. The manager will promote demand management by streamlining suppliers and standardizing products to maximize business value. Key responsibilities involve leading strategic sourcing, procurement, licensing, and governance of financial information and enterprise data, as well as managing relationships with key suppliers to ensure cost efficiency, data quality, and regulatory compliance. The role requires collaboration with various teams to align supplier services with business strategy and partner requirements, leading comprehensive sourcing and contract negotiations, and achieving measurable cost savings. The manager will also evaluate supplier performance, ensure compliance with data governance standards, manage procurement processes and tools, facilitate adherence to industry regulations, assess and mitigate risks, and optimize market data costs. Building strong relationships with vendors, stakeholders, and internal teams, developing strategic roadmaps, participating in committees, monitoring vendor performance, and enhancing the Market Data Department's maturity are also integral to the role. Cross-functional collaboration with IT, finance, and business units is essential to align procurement strategies with organizational goals.

Requirements

Bachelor's degree in Business, Finance, or a related field
4-5 years of experience in Market Data
Operational knowledge of, and experience in, market data systems, processes, entitlements, and compliance audits
In-depth knowledge of financial markets and data sources
6 years of negotiation and contract management, with demonstrable examples of methods used and outcomes
Familiarity with regulatory requirements related to market data
Extremely strong relationship-building and communication skills

Nice To Haves

MBA preferred
Experience in Coupa, Salesforce, ServiceNow, MDSL, and MDM a plus
Analytical mindset with proficiency in data analysis tools
Experience using and incorporating AI Tools into processes, or an ability to upskill quickly in this area

Responsibilities

Develop and execute a long-term category plan for Enterprise Market Data, encompassing market data, research, analytics, and credit ratings.
Promote demand management by streamlining suppliers and standardizing products to maximize business value.
Lead strategic sourcing, procurement, licensing, and governance of financial information, market data, research, analytics, and enterprise data.
Manage relationships with key suppliers to ensure cost efficiency, data quality, and regulatory compliance.
Collaborate with teams across various organizations to align supplier services with business strategy and partner requirements.
Develop and execute a long-term category plan for Enterprise and Market Data, encompassing market data, research, analytics, and credit ratings, and housing-related datasets.
Lead comprehensive sourcing and contract negotiations with suppliers.
Achieve measurable cost savings and return on investment.
Evaluate supplier performance and support remediation efforts when necessary.
Partner with cross-functional teams to ensure compliance with data governance standards.
Manage and implement processes and tools for the procurement of Market Data, Indexes, Exchanges, and Professional Services categories.
Implement strategic sourcing initiatives and negotiate contracts to achieve optimal terms.
Collaborate with vendors to optimize contract terms, pricing structures, and service level agreements.
Draft and review contracts, ensuring legal and financial compliance.
Facilitate compliance objectives regarding Third-Party Data licensing, entitlement, distribution, and usage.
Facilitate adherence to industry regulations and internal policies.
Assess and mitigate risks associated with market data sources and contracts.
Develop and implement strategies to optimize market data costs while maintaining data quality.
Conduct regular cost-benefit analyses to ensure the efficiency of data procurement processes.
Build and maintain strong relationships with vendors, stakeholders, and internal teams.
Collaborate with business units to understand their market data needs and align procurement strategies accordingly.
Develop and execute strategic roadmaps for procurement processes and delivery.
Identify opportunities for process improvement and optimization.
Participate in relevant committees and take ownership of key initiatives.
Represent the Market Data Procurement function in cross-functional meetings.
Implement metrics and key performance indicators (KPIs) to monitor the performance of market data vendors.
Take proactive measures to address any issues affecting data quality or service levels.
Assess and improve the maturity of the Market Data Department.
Execute initiatives to enhance departmental effectiveness and efficiency.
Collaborate with internal stakeholders, including IT, finance, and business units, to understand data requirements and align procurement strategies with organizational goals

Benefits

100% 401k match up to 6% of salary
Stock Ownership Potential
Company provided life insurance - 1x salary + commission
Comprehensive health benefits (medical/dental/vision) including potential premium discounts and company-provided HSA contributions (up to $500-$2,000 annually) for specific plans and coverages
Additional medical Wellness Incentives - up to $300-$600 annual
Company-provided long- and short-term disability insurance
Trust-Based Time Off
6-week Paid Sabbatical Program
6-Week Paid Family Caregiving Leave
Competitive 8-24 Week Paid Parental Leave
Adoption Assistance
Leadership Coaching & Formal Mentorship Opportunities
Annual Flex Stipend - $1000 annually to cover personal education & well-being expenses
Tuition Reimbursement
Charitable Matching Gifts program
Dollars for Doers volunteer program
Paid volunteering days
15+ Employee Resource & Affinity Groups