Procurement Sourcing Manager, Vice President for Market Data, Hybrid

Who we are looking for

The role of the Sourcing Manager 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 favourable and compliant contract terms and pricing in an expedited timeframe to mitigate risk.

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 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.

This role can be performed in a hybrid model, where you can balance work from home and office to match your needs and role requirements.

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, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. To make that happen we need teams like yours to help navigate employees and the organization as a whole. 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

As Sourcing Manager you will

• 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

What we value

These skills will help you succeed in this role

• 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 customer focus
• Ability to manage challenging stakeholders diplomatically and to make decisions and execute with support of stakeholders

Education & Preferred Qualifications

• Bachelor’s and Master’s Degree;Law degree preferred
• 10-15 years of experience in a related Market Data procurement/sourcing position required
• Procurement, Market Data and business knowledge including robust understanding of business use cases, vendor product offerings, contract terms and contract execution
• A detailed level of understanding of the language and structure of Market Data contracts with experience in the review, negotiation and drafting of Market Data contracts including governing agreements
• A strong understanding of Market Data pricing models, metrics, etc. with the ability to suggest sourcing and contracting alternatives
• Expertise should include experience in all Market Data subcategories (pricing, reference, index, terminals, etc.)
• Demonstrated sourcing and negotiation experience with major Market Data suppliers
• Ability to create project sourcing strategy and independently collect data
• Excellent command of the English language and Microsoft Office tools

What we offer

• Hybrid or potentially 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

Are you the right candidate? Yes!

We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don’t necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit.

About State Street

What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.

Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you.

State Street is an equal opportunity and affirmative action employer.

Discover more at StateStreet.com/careers

COVID-19 Protocols: Complying with State Street’s COVID-19 protocols is a condition of employment. Those requirements may vary depending on circumstances and legal requirements, and may include, without limitation, a requirement to be vaccinated (or have an accommodation), to disclose vaccination status, to provide evidence of vaccination status, etc.