Compensation Overview

Who we are looking for

The VP of Software Sourcing 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 all software and cloud engagements. This sourcing manager will support/be a part of the global, regional and local category sourcing strategies working with our global IT vendors.

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 people like you 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 / Category SME – Software and Cloud you will

• Perform direct negotiations and manage large and complex agreements
• Be a person manager for a minimum of 5 AVP team members dispersed globally
• Find and deliver saving opportunities via stakeholder engagement and data analysis
• Draft and negotiation Master License and Cloud agreements with support from Legal
• Negotiate IT security schedules with support from IT Security and Legal SMEs
• Develop stakeholder relationships on a face to face basis across our Boston locations using a white glove approach as needed with senior stakeholders(Quincy, One Congress and Burlington)
• Identify risks and opportunities related to achieving financial objectives; work with process partners to mitigate risks and realize opportunities
• Assist AVP Category Strategy in the development of strategies focused on Infrastructure, Enterprise and Cybersecurity software
• Heavily contribute to P&L and Cost Avoidance 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
• Perform all duties in accordance with prescribed regulatory compliance guidelines
• Quickly learn the State Street end to end process, and work within the guidelines to gain saving and delivery results
• Develop and mentor team members in our US, Poland and India locations

What we value

These skills will help you succeed in this role

• A number of years (10+) strategic sourcing experience in IT related spend is a must with referenceable  knowledge in cloud software
• A strong understanding of all facets of global IT vendors
• Proven track record of delivering P&L saving projects
• Should have strong commercial skills and be able to deliver cost effective outcomes
• Top level negotiation skills with ability to influence cross-functionally
• Understanding of best in class procurement, risk, Information Security and payable processes
• Proven self-starter who can work independently and within a team while effectively juggling multiple priorities
• Strong strategic thinker and problem solver with attention to detail
• Personal resilience to work within an extremely fast-paced, ambiguous environment
• Established written and verbal communication skills
• Ability to manage challenging stakeholders diplomatically
• Good presentation skills and a keen eye for detail a must

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.

Salary Range:

$100,000 - $160,000 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.

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.

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