Enterprise Market Data, Strategic Sourcing Manager

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.

Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Enterprise Market Data, Strategic Sourcing Manager

Serve as a subject matter expert and responsible for leading and managing critical Enterprise Market Data supplier relationships, negotiations and spend. Provides sourcing process expertise and analytics as well as lead the collection and analysis of data. Influences and drives improvements of global policies, programs and processes.

Responsibilities:

• Responsible for contract review, drafting and creation of various agreements, including NDAs, Master Agreements, Statements of Work, etc. and leading all aspects of contract & price negotiations and ongoing contract administration.

• Collect requirements from internal partners and lead competitive bidding processes (e.g. RFx, etc.).

• Negotiate commercial arrangements and contracts with vendors.

• Responsible for monitoring the contract renewal process and notifying appropriate partners.

• Collaborate with internal partners to develop and execute strategy and solutions to enhance existing services, create new services or improve processes.

• Analyze industry and vendor data / trends and make recommendations to partners about key insights, trade-offs, and risks.

• Employs market/competitor awareness in relationship communication and business development opportunities.

• Assist with forecasting / planning processes, demand management, and developing contracts that scale future enterprise needs

• Drive vendor quality and performance improvement initiatives and harness vendor innovation ideas.

• Carry out complex activities with significant financial, client and/or internal business impacts.

• Utilize FITS (Financial Information Tracking Systems) database to track all user market data products and services.

• Work with the Enterprise Market Data Finance team to support invoice processing, reconciliation and order processing to ensure billing accuracy.

Experience & Skills Required:

• A Bachelor's degree in Business, Finance and/or relevant work experience in Sourcing or Procurement required.

• Extensive experience with contract negotiation with third parties on financials and legal terms while having the ability to understand, interpret and draw conclusions from contractual terms.

• Five+ years in the financial services industry.

• Familiarity with various market data feed types and applications.

• Prior experience with market data vendors such as Thomson Reuters, Bloomberg, IHS Markit, ICE Data Services, MSCI, FTSE Russell, etc.

• Strong business partner/relationship management skills, and ability to be seen as a trusted partner, ensuring pro-active engagement of Enterprise Market Data by business partners.

• Strong project management, quantitative analysis, negotiation and business relationship skills.

• Excellent oral and written communication skills are required including strong presentation and executive communication skills.

• Strong computer skills including PowerPoint, Word and Excel. OS or MDM experience a plus

Salary Range:

$114,500 - 194,700 USD

Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

Working with Us:

As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.

Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.

We’d love to learn more about how your interests and experience could be a fit with one of the world’s most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater

Reasonable accommodation

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [email protected].

We hope you’re excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.

Apply today and talk to us about your flexible working requirements and together we can achieve greater.