Market Data Procurement & Sourcing, VP

Job Description 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 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: $120,000 - $202,500 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. Discover more information on jobs at StateStreet.com/careers Read our CEO Statement 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.