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 and will be based in US.

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/NewsDevelop vendor strategy which is aligned with the product/service strategyDevelop preferred list of vendors which have the right balance of product/service capabilities and reasonable costPartner 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 needsHelp 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 consumptionIdentify, 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 pointsPerform direct negotiations and regularly manage large and complex Market Data agreementsUse a white glove approach in stakeholder management to provide advice and guidance within Market Data sourcingAnalyze data to identify opportunities to reduce existing cost baseWork with process partners to mitigate risks and realize opportunitiesSolution requests and issues in a timely manner and perform daily problem solvingReview, negotiate and draft Market Data contracts including commercials and terms and conditionsPartner with legal and business to ensure that contracts properly represent negotiated commercial terms as well as usage rights and other terms and conditionsIdentify and mitigate any potential risks in contract languageEnsure end-to-end contracting process is completed in a timely mannerKeep all stakeholders informed throughout the procurement lifecycleCollaborate 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 riskPerform all duties in accordance with prescribed regulatory compliance guidelines

What we value

These skills will help you succeed in this role

A smart, challenging and energetic leader, with a passion and deep understanding of Market Data Category Strategy and Sourcing across Global organizations.10+ years Market Data procurement/sourcing experience preferredExpertise should include experience in all market data categories (i.e. pricing, reference, index, etc.) and experience working with major market data suppliers.A detailed level of understanding of the language and structure of market data contracts with experience in the review, negotiation and drafting of such agreementsHigh 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 mannerAbility to demonstrate a strategic approach to tackling spend across the entire categoryProven self-starter who has experience leading a global team while effectively managing multiple priorities of their ownPersonal resilience to working within an extremely fast-paced, ambiguous environmentStrong strategic thinker and problem solver with attention to detailExcellent written and verbal communication skillsBachelor’s Degree Master’s degree and/or Law degree a plus

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

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.

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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