Market Data Procurement & Sourcing, VP

State Street•Clifton, NJ

About The Position

The Market Data Sourcing Vice President is part of State Street’s Global Third Party Management team and helps drive the Market Data strategy, ensuring businesses have cost-effective and appropriate Market Data products and services. The role prepares, analyzes, negotiates, and executes Market Data contracts, including commercial terms and conditions across one or more categories. It partners with business, legal, risk, and process teams to meet current and future needs, follow policies and procedures, identify and mitigate risks, and comply with regulatory guidelines. The role reports to the Sourcing and Category Strategy head of Market Data. The primary focus is the Index category, including managing the category and overseeing a team of sourcing professionals. The role may also support Pricing, Reference Data, Exchanges, and Research/News. It provides sourcing advice and guidance to stakeholders, manages complex agreements and the end-to-end contracting process, and identifies opportunities to reduce costs while ensuring appropriate contract terms, usage rights, and third-party risk controls.

Requirements

At least 8 years of experience in category management, sourcing, procurement, vendor management, and commercial negotiations within a financial institution, data provider, consulting firm, or other global organization.
Bachelor’s degree.
Experience in people management, including coaching, mentoring, and developing team members and providing subject matter expert guidance.
Detailed understanding of contract language and structure, with experience reviewing, negotiating, and drafting agreements.
Ability to work independently and collaboratively while managing multiple priorities.
Ability to thrive in a fast-paced, ambiguous environment.
Strong strategic thinking and problem-solving skills, with attention to detail.
Excellent written and verbal communication skills.
Self-starter with a passion for and deep understanding of sourcing processes across global organizations.

Nice To Haves

Experience in category management within Market Data or the Index category.
Master’s degree and/or law degree.
Market Data Index experience.

Responsibilities

Understand Market Data requirements across business and corporate areas and source appropriate products and services from optimal vendors at competitive prices.
Manage the Index category and oversee a team of sourcing team members.
Conduct direct negotiations and manage large, complex Market Data agreements.
Provide advice and guidance to stakeholders using a high-touch approach to stakeholder management.
Analyze data to identify opportunities to reduce the existing cost base.
Work with process partners to mitigate risks and realize opportunities.
Resolve requests and issues in a timely manner and perform day-to-day problem solving.
Review, negotiate, and draft Market Data contracts, including commercial terms and conditions.
Partner with Legal and business stakeholders to ensure contracts accurately reflect negotiated commercial terms, usage rights, and other terms and conditions.
Identify and mitigate potential risks in contract language.
Ensure the end-to-end contracting process is completed in a timely manner.
Keep stakeholders informed throughout the procurement lifecycle.
Support sourcing in other categories, including Pricing, Reference Data, Exchanges, and Research/News, as needed.
Collaborate with Third Party Risk Management teams to support policies and consistent procedures for identifying and mitigating third-party risk during the acquisition process.
Perform duties in accordance with regulatory compliance guidelines.
Coach, mentor, and develop team members and provide subject matter expertise and guidance.

Benefits

401(k) retirement savings plan with company match.
Basic life, medical, dental, vision, and long-term disability insurance, with other optional additional coverages.
Paid time off, including vacation, sick leave, short-term disability, and family-care responsibilities.
Employee Assistance Program.
Incentive compensation, including eligibility for annual performance-based awards, with exclusions for certain sales roles.
Eligibility for certain tax-advantaged savings plans.
Inclusive development opportunities.
Flexible work-life support.
Paid volunteer days.
Employee networks.