Who we are looking for
The role of Sourcing Manager, Vice President (VP) in the Market Data Sourcing team is an important role within State Street’s Global Procurement team and responsible for the preparation, analysis, negotiation and finalization of the end-to-end Procurement process for Market Data related contracts. This role will coordinate with stakeholders (legal, data security, business unit, vendor, etc.) to lead negotiations and achieve favorable and compliant contract terms and pricing in an expedited timeframe to mitigate risk.
Why this role is important to us
The Procurement Sourcing Team responds to requests from business users company-wide in order to acquire products and services. The team is responsible for leading deal negotiation and contract review, analysis and negotiation which also includes working collaboratively cross-functionally within State Street and with vendors on a regular basis. The end result of a Sourcing engagement is a contract that accurately reflects the negotiated deal and business requirements along with other language protecting State Street’s interests.
We offer office / hybrid / fully remote work options for this function.
What you will be responsible for as Sourcing Manager - Market Data, Vice President you will
- Perform direct negotiations and regularly manage large and complex Market Data agreements Solution requests and issues timely, and perform daily problem solving
- Find saving opportunities via stakeholder engagement and data analysis Negotiate pricing using the five levers that incentivize a supplier Identify risks and opportunities related to achieving financial objectives; work with process partners to mitigate risks and realize opportunities
- Contribute to P&L and Cost Avoid savings for the team
- Analyze data to identify opportunities to reduce existing cost base
- Coordinate, prepare and manage RFx/competitive bids to optimize cost and service
- Use a white glove approach in stakeholder management to provide advice and guidance within Market Data sourcing
- Quickly learn the State Street end to end process, and work within the guidelines to gain saving and delivery results
- Collaborate with TPRM teams to support appropriate policies and 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
What we value
These skills and qualifications will help you succeed in this role:
- 10 to 15+ years of experience in a related Market Data procurement position required.
- Expertise should include experience in all Market Data subcategories (index, exchanges, pricing, reference, research, trading systems, etc.) and preferably with focus in the index and pricing categories.
- Demonstrated sourcing and negotiation experience with major market data suppliers
- Proven ability to negotiate market data governing agreements
- A strong understanding of market data pricing models, metrics, etc. with the ability to suggest sourcing and contracting alternatives
- A high level of understanding of the language and structure of market data contracts
- Experience in the review, negotiation and drafting of market data contracts
- Procurement, market data and business knowledge including robust understanding of business use cases, vendor product offerings, contract terms and contract execution
- Demonstrated ability to manage and follow-through on multiple projects simultaneously
- Exceptional communication skills and relationship management capabilities.
- Team player with the ability to build long term relationships Strong analytical and problem solving skills with attention to details and with customer focus
- Ability to make decisions and execute with support of stakeholders
- Ability to create project sourcing strategy and independently collect data
- Proven track record of delivering P&L saving projects Ability to manage challenging stakeholders diplomatically
- Excellent command of the English language and Microsoft Office tools
- Bachelor’s or Master’s Degree in Business, Law or related field preferred
- Fully remote work available
- Employee savings plan
- Premium life insurance package
- VIP medical package
- International operating environment
- Additional holiday entitlement
- Language classes
- Soft skills trainings
- Technical workshops Development sessions with a mentor
- Diversity of opportunities across a range of challenging and highly complex activities
- Sourcing or leadership career pathway