Market Data Procurement & Sourcing, VP
About The Position
The Market Data Sourcing Vice President is an important role within State Street’s Global Third Party Management team. This role will help drive the Market Data strategy which is to ensure the businesses have the most cost effective and optimal Market Data products and services to help enable and drive their business strategies. This role will be responsible for preparing, analyzing, negotiating and executing market data contracts including commercials and terms and conditions across one or several market data categories. This leader will partner with the businesses as well as the legal and risk organizations to ensure current and future business needs are met, policies and procedures are followed, and risks are identified and mitigated – all in compliance with regulatory guidelines. This role will report into the Sourcing and Category Strategy head of Market Data.
Requirements
- 8+ years of experience in category management (preferably within the Market Data or Index category), sourcing, procurement, vendor management, and commercial negotiations within a financial institution, data provider, consulting firm, or other global organization
- Bachelor’s Degree.
- Proven experience in people management, including coaching, mentoring, and developing team members, as well as providing Subject Matter Expert (SME) guidance and support
- A detailed level of understanding of the language and structure of contracts with experience in the review, negotiation and drafting of such agreements.
- A smart, challenging and energetic person, with a passion and deep understanding of Sourcing process across Global organizations.
- Proven self-starter who can work independently and within a team while effectively managing multiple priorities
- Able to work and thrive in an extremely fast-paced, ambiguous environment
- Strong strategic thinker and problem solver with attention to detail
- Excellent written and verbal communication skills
Nice To Haves
- A Master’s degree and/or Law degree a plus
- Market Data Index experience a plus.
Responsibilities
- Understand the Market Data needs of the Business and Corporate Areas (Investment Services, Global Investment Management, Global Markets, Enterprise Risk Management, Finance) and Source the required products and services from the optimal vendors at optimal price points
- Manage the Index category and oversee a team of Sourcing team members
- Perform direct negotiations and regularly manage large and complex Market Data agreements
- Use a white glove approach in stakeholder management to provide advice and guidance within Market Data sourcing
- Analyze data to identify opportunities to reduce existing cost base
- Work with process partners to mitigate risks and realize opportunities
- Solution requests and issues in a timely manner and perform daily problem solving
- Review, negotiate and draft Market Data contracts including commercials and terms and conditions
- Partner with legal and business to ensure that contracts properly represent negotiated commercial terms as well as usage rights and other terms and conditions
- Identify and mitigate any potential risks in contract language
- Ensure end-to-end contracting process is completed in a timely manner
- Keep all stakeholders informed throughout the procurement lifecycle
- The primary focus will be on the Index category, although involvement in other categories such as Pricing, Reference Data, Exchanges and Research/News may also be required
- Collaborate with Third Party Risk Management (TPRM) teams to support appropriate policies and ensure procedures are followed and used consistently throughout the acquisition process to identify and mitigate 3rd party risk
- Perform all duties in accordance with prescribed regulatory compliance guidelines
Benefits
- retirement savings plan (401K) with company match
- insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages
- paid-time off including vacation, sick leave, short term disability, and family care responsibilities
- access to our Employee Assistance Program
- incentive compensation including eligibility for annual performance-based awards
- eligibility for certain tax advantaged savings plans
- inclusive development opportunities
- flexible work-life support
- paid volunteer days
- vibrant employee networks
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What This Job Offers
Job Type
Full-time
Career Level
Manager
