Market Data Procurement & Sourcing, VP

State Street•Boston, MA

3d•$115,000 - $197,500

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 optimal Market Data products and services. The role prepares, analyzes, negotiates, and executes Market Data contracts, including commercial terms and conditions, across one or more Market Data categories. It partners with business, legal, and risk organizations to meet current and future business needs, follow policies and procedures, identify and mitigate risks, and comply with regulatory guidelines. The position reports to the Sourcing and Category Strategy head of Market Data. The primary focus is the Index category, with potential involvement in Pricing, Reference Data, Exchanges, and Research/News. The role manages the Index category and oversees sourcing team members, conducts direct negotiations, manages large and complex agreements, supports stakeholders, analyzes costs for savings opportunities, and collaborates with process partners and Third Party Risk Management teams throughout the acquisition and contracting lifecycle.

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.
Proven people management experience, including coaching, mentoring, and developing team members.
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.

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 needs across business and corporate areas and source products and services from optimal vendors at optimal price points.
Manage the Index category and oversee a team of sourcing team members.
Conduct direct negotiations and regularly manage large and complex Market Data agreements.
Provide advice and guidance to stakeholders using a high-touch approach.
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 daily problem solving.
Review, negotiate, and draft Market Data contracts, including commercial terms and conditions.
Partner with legal and business stakeholders to ensure contracts 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.
Collaborate with Third Party Risk Management teams to support appropriate policies and consistent procedures for identifying and mitigating third-party risk.
Perform duties in accordance with regulatory compliance guidelines.
Coach, mentor, and develop team members and provide subject matter expert guidance and support.

Benefits

Retirement savings plan (401(k)) with company match.
Insurance coverage including basic life, medical, dental, vision, long-term disability, and optional additional coverages.
Paid time off including vacation, sick leave, short-term disability, and leave for family care responsibilities.
Access to an Employee Assistance Program.
Eligibility for annual performance-based incentive awards, with certain sales-role exceptions.
Eligibility for certain tax-advantaged savings plans.
Inclusive development opportunities.
Flexible work-life support.
Paid volunteer days.
Employee networks.