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Summary:
- The VP of Sourcing is an important role within State Street’s Global Procurement Team and is responsible for the preparation, analysis, negotiation, and finalization of the end-to-end Procurement process with a focus on the Market Data category.
- 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.
- The Procurement Sourcing Team responds to requests from business users company-wide to acquire Market Data-related products and services.
- You will engage with top industry vendors such as Bloomberg, Standard & Poor’s, Morgan Stanley, and Intercontinental Exchange and be directly involved in the purchase of data, including but not limited to, the categories of pricing, reference, index, and research.
Responsibilities:
- 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.
- Review, negotiate, and redline market data contracts, including commercials and terms and conditions.
- Identify and mitigate any potential risks in contract language.
- Solution requests and issues timely, and perform daily problem-solving.
- Analyze data to identify opportunities to reduce the existing cost base.
- Interact with internal senior stakeholders on a daily basis, keeping them 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.
- Through the correct demonstrated behaviors, help lead other team members in performing their tasks to the exacting high standards required.
- Perform all duties in accordance with prescribed regulatory compliance guidelines.
Requirements:
- 8 years of sourcing experience in Market Data procurement/sourcing position required.
- Bachelor’s Degree; Law degree a plus.
- A detailed level of understanding of the language and structure of market data contracts with experience in the review, negotiation, and drafting of such 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, etc.) and experience working with major market data suppliers. Direct experience working with index market data preferred.
- Ability to demonstrate a strategic approach to tackling spend across the entire category.
- Proven self-starter who can work independently and within a team while effectively managing multiple priorities.
- 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.
Benefits:
- Hybrid or potentially fully remote work available.
- Employee savings plan.
- Premium life insurance package.
- VIP medical package.
- International operating environment.
- Additional holiday entitlement.
- A suite of training classes and workshops.
- Sourcing or leadership career pathway.
