Head of Market Data Sourcing and Procurement - Managing Director

Who we are looking for

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.

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 Category Strategy areas of responsibility include:

• 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

Primary Sourcing areas of responsibility include:

• 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

• Bachelor’s Degree.  A Master’s degree and/or Law degree a plus.
• 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. Market Data experience a plus.
• 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

What we offer

• Diversity of opportunities across a range of challenging and highly complex activities
• Leadership career pathway
• International operating environment
• Soft skills trainings
• Technical workshops
• Employee savings plan
• Premium life insurance package
• VIP medical package
• Additional holiday entitlement

Salary Range:

$170,000 - $252,500 Annual

The 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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Job Application Disclosure:

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.