Market Data Procurement & Sourcing, VP
State Street · Quincy, United States +3 · 19d ago
Who we are looking for
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.
Why this role is important to us
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.
What you will be responsible for
Primary Sourcing areas of responsibility include:
- 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
Education & Preferred Qualifications
- 8+ 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 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
- 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
Salary Range:
$110,000 - $181,250 AnnualThe range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.
Employees are eligible to participate in State Street’s comprehensive benefits program, which includes: 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); and, eligibility for certain tax advantaged savings plans.
For a full overview, visit https://hrportal.ehr.com/statestreet/Home.
About State Street
Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.
We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.
As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.
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