Market Data Sourcing and Category Strategy Head, Managing Director

State Street•Boston, MA

13d

About The Position

The Market Data Sourcing and Category Strategy Head (Managing Director) is an important role within State Street’s Global Third Party Management team. This role will lead a team that creates and drives 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. In addition, this role will be responsible for leading the preparation, analysis, negotiation and execution of market data contracts including commercials and terms and conditions. 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 Global Head of Market Data.

Requirements

Bachelor’s Degree.
10+ year proven experience managing high performing global teams
A smart, challenging and energetic leader, with a passion and deep understanding of Sourcing and Category Strategy across Global organizations.
A detailed level of understanding of the language and structure of contracts with experience in the review, negotiation and drafting of such agreements.
High intellect, decisiveness and the drive and flexibility to operate in a constant changing environment.
A leader, viewed by others as having a high degree of integrity and forethought in making decisions; able to act in a transparent and consistent manner
Ability to demonstrate a strategic approach to tackling spend across the entire category
Proven self-starter who can effectively managing multiple priorities of their own
Personal resilience to working within 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 experience a plus.

Responsibilities

Develop product/service strategy across the Market Data categories which includes Pricing, Reference Data, Index Data, Desktop terminals, Exchange Fees, and Research/News
Develop vendor strategy which is aligned with the product/service strategy
Develop preferred list of vendors which have the right balance of product/service capabilities and reasonable cost
Partner with Businesses and Corporate Areas (Investment Services, Global Advisors, Global Markets, Enterprise Risk Management, Finance) to understand their Client and Product strategy in order to anticipate and meet their Market Data needs
Help the business optimize their spend by analyzing and eliminating unnecessary demand, vetting and utilizing lower cost alternatives, ensuring recovery of certain expenses from clients, and ensuring IT strategy optimizes consumption
Identify, initiate, and project manage initiatives to successful completion that significantly reduce the expense base
Understand the Market Data needs of the Business and Source the required products and services from the optimal vendors at optimal price points
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
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
Leadership career pathway
International operating environment
Soft skills trainings
Technical workshops
Employee savings plan
Premium life insurance package
VIP medical package
Additional holiday entitlement
paid volunteer days