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Procurement Manager - Data and Professional Services

• Posted 5 days ago • Updated 1 day ago

Full Time

On-site

USD $95,275.00 - 161,975.00 per year

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Job Details

Skills

Data Management
Sourcing
Emerging Technologies
Vendor Management
Management
Professional Services
Strategic Sourcing
Pricing
Service Level
Licensing
Distribution
Cost-benefit Analysis
Partnership
Relationship Management
Mapping
Roadmaps
Process Improvement
Optimization
Performance Monitoring
KPI
Data Quality
Modeling
Procurement
MBA
Regulatory Compliance
Auditing
Negotiations
Contract Management
Market Analysis
Relationship Building
Communication
Salesforce.com
ServiceNow
Master Data Management
Mobile Device Management
Analytical Skill
Data Analysis
Artificial Intelligence
Finance
Life Insurance
Insurance
Leadership
Coaching
Mentorship
Apache Flex
Collaboration
Value Engineering
SAP BASIS
Research
Legal

Summary

{"description": " 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.

Responsibilities:

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

Requirements:

Bachelor's degree in Business, Finance, or a related field; MBA preferred.
4-5 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.

Recommended:

Experience in Coupa, Salesforce, ServiceNow, 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.

Compensation and Benefits

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
- 100% 401k match up to 6% of salary
- Stock Ownership Potential
- Company provided life insurance - 1x salary + commission
Physical Health
- Comprehensive health benefits (medical/dental/vision) including potential premium discounts and company-provided HSA contributions (up to $500-$2,000 annually) for specific plans and coverages
- Additional medical Wellness Incentives - up to $300-$600 annual
- Company-provided long- and short-term disability insurance
Emotional Health
- Trust-Based Time Off
- 6-week Paid Sabbatical Program
- 6-Week Paid Family Caregiving Leave
- Competitive 8-24 Week Paid Parental Leave
- Adoption Assistance
- Leadership Coaching & Formal Mentorship Opportunities
- Annual Flex Stipend - $1000 annually to cover personal education & well-being expenses
- Tuition Reimbursement
Social Health
- Charitable Matching Gifts program
- Dollars for Doers volunteer program
- Paid volunteering days
- 15+ Employee Resource & Affinity Groups

Total Cash Compensation Range
$95,275.00 - 161,975.00 USD Annual
Inclusive of annual base salary and target incentive

Morningstar's hybrid work environment gives you the opportunity to collaborate in-person each week as we've found that we're at our best when we're purposely together on a regular basis. In most of our locations, our hybrid work model is four days in-office each week. A range of other benefits are also available to enhance flexibility as needs change. No matter where you are, you'll have tools and resources to engage meaningfully with your global colleagues.

100_MstarResCanad Morningstar Research, Inc. (Canada) Legal Entity", "salary_raw": "USD 300.00 - 600.00 per day"}

Employers have access to artificial intelligence language tools (“AI”) that help generate and enhance job descriptions and AI may have been used to create this description. The position description has been reviewed for accuracy and Dice believes it to correctly reflect the job opportunity.

Dice Id: 90922487
Position Id: 24088569
Posted 5 days ago

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