Procurement Manager - Data and Professional Services

The Role

The Role:

If you are a seasoned professional with a proven track record in market data procurement, possess strong leadership capabilities, and are ready to take on a strategic role within our organization, we invite you to apply for this exciting opportunity. Join us in shaping the future of our organization through effective data management and strategic procurement practices.

Market Data Sourcing:

• Identify, evaluate, and negotiate with market data vendors to procure essential data feeds and services.
• Stay abreast of market trends and emerging technologies to recommend innovative data opportunities.

Contract and Vendor Management:

• Manage and implement processes and tools for the procurement of Market Data, Indexes, Exchanges, and Professional Services categories.
• Implement strategic sourcing initiatives and negotiate contracts to achieve optimal terms.
• Collaborate with vendors to optimize contract terms, pricing structures, and service level agreements.
• Lead negotiations with market data vendors to secure favorable terms and conditions.
• Draft and review contracts, ensuring legal and financial compliance.

Compliance Objectives:

• Facilitate compliance objectives regarding Third-Party Data licensing, entitlement, distribution, and usage.
• Facilitate adherence to industry regulations and internal policies.
• Assess and mitigate risks associated with market data sources and contracts.

Cost Optimization:

• Develop and implement strategies to optimize market data costs while maintaining data quality.
• Conduct regular cost-benefit analyses to ensure the efficiency of data procurement processes.

Leadership and

Coaching:

• Provide leadership to the Market Data Procurement team.
• Coach and mentor team members to enhance their skills and performance.

Business Partnership and Relationship Management:

• Build and maintain strong relationships with vendors, stakeholders, and internal teams.
• Collaborate with business units to understand their market data needs and align procurement strategies accordingly.

Strategic Process and Delivery Road Mapping:

• Develop and execute strategic roadmaps for procurement processes and delivery.
• Identify opportunities for process improvement and optimization.

Committee Membership and Ownership:

• Participate in relevant committees and take ownership of key initiatives.
• Represent the Market Data Procurement function in cross-functional meetings.

Performance Monitoring:

• Implement metrics and key performance indicators (KPIs) to monitor the performance of market data vendors.
• Take proactive measures to address any issues affecting data quality or service levels.

Market Data Department Maturity Modeling and Execution:

• Assess and improve the maturity of the Market Data Department.
• Execute initiatives to enhance departmental effectiveness and efficiency.

Cross-functional Collaboration:

• Collaborate with internal stakeholders, including IT, finance, and business units, to understand data requirements and align procurement strategies with organizational goals.

• Bachelor's degree in Business, Finance, or a related field; MBA preferred.
• 8 years of experience in Market Data.
• Operational knowledge of, and experience in, market data systems, processes, entitlements, and compliance audits.
• In-depth knowledge of financial markets and data sources.
• 6 years of negotiation and contract management, with demonstrable examples of methods used and outcomes.
• Familiarity with regulatory requirements related to market data.
• Extremely strong relationship-building and communication skills.

• Experience in Coupa, Salesforce, Service Now, MDSL, and MDM a plus.
• Analytical mindset with proficiency in data analysis tools.
• Experience using and incorporating AI Tools into processes, or an ability to upskill quickly in this area.

At Morningstar we believe people are at their best when they are at their healthiest. That s why we champion your wellness through a wide-range of programs that support all stages of your personal and professional life. Here are some examples of the offerings we provide:

• Financial Health
  • 75% 401k match up to 7%
  • Stock Ownership Potential
  • Company provided life insurance - 1x…