Market Data Procurement & Sourcing, VP

at  State Street

Who we are looking for
The VP of 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 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 in order to acquire Market Data related products and services. You will be engaging 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.
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 Lead, 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
• 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 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
• Performing all duties in accordance with prescribed regulatory compliance guidelines

What we value

These skills will help you succeed in this role

• 8 years 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

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
• A suite of training classes and workshops
• Sourcing or leadership career pathway

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
State Street’s Speak Up Lin

• 8 years 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 skill