Market Data Procurement & Sourcing, VP

State Street•Quincy, MA

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. The team you will be joining plays an important role in the overall success of the organization. Across the globe, our clients rely on us to help them manage risk, respond to challenges, and drive performance and profitability. In your role you will strive for cutting-edge solutions, that are straightforward and scalable. You will help us build resilience and execute day-to-day deliverables at our best. Join us if making your mark in the financial services industry from day one is a challenge you are up for.

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.
A detailed level of understanding of the language and structure of contracts with experience in the review, negotiation and drafting of such agreements.
Market Data Index experience a plus.
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
Proven experience in people management, including coaching, mentoring, and developing team members, as well as providing Subject Matter Expert (SME) guidance and support

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

our 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 (excluding certain sales roles subject to sales incentive plans)
eligibility for certain tax advantaged savings plans
inclusive development opportunities
flexible work-life support
paid volunteer days
vibrant employee networks