Market Data Product Strategy Specialist, Vice President (Hybrid)
- Recruiter
- State Street
- Location
- Boston, Massachusetts; London, UK
- Salary
- Not disclosed
- Posted
- 21 Sep 2022
- Closes
- 21 Oct 2022
- Ref
- R-717359
- Approved employers
- Approved employer
- Contract type
- Permanent
- Hours
- Full time
- Experience level
- Director
Who we are looking for
This position is within Asset Servicing Product Strategy division specific to the Market Data Product Strategy team who perform a critical role to drive enterprise market data strategy and lead market data engagements, vendor strategy to align to business objectives. The Market Data Product Strategy Specialist is part of a team of MD professionals and provides consultation on commercial structures, licensing strategy and vendor guidance/selection to deliver against business objectives. This position will support the strategic roadmap and solutioning of market data products/services and responsible for generating and delivering on market data strategies to support cost management and revenue growth.
Why this role is important to us
You will have an opportunity to use your in-depth understanding of financial markets, investment lifecycle process to support enterprise market data strategy. This role collaborates with internal stakeholders, product owners and business areas within the company to support commercial/vendor strategy corresponding to strategic initiatives and new business development. This role creates opportunities to leverage preferred vendor strategies to drive value for State Street and its clients.
What you will be responsible for
As Market Data Product Strategy Specialist, Vice President you will
- Responsible for working with product strategy leads and business partners across the enterprise to align market data vision with revenue, vendor strategy and expense management priorities.
- Generates a perspective, approach to enterprise market data requirements while balancing expense management objectives
- Demonstrated ability to take business, product requirements and translate into commercials/licensing strategy that aligns to product P&L
- Incorporates STT holistic relationship and industry best practices to drive value from market data vendors
- Employ usage and utilization data to derive opportunities to restructure license relationships
- Ability to understand service catalog, use cases to mine data to drive analysis of market data spend
- Ensure effective commercial arrangements are secured to deliver against product/business objectives
- Experience in deriving forward market data plan/cost restructuring to generate savings.
Principal Responsibilities:
- Proactively manage complex key relationships with market data vendors; ability to build relationships with leadership
- Demonstrated ability to cultivate relationships, recognize business development opportunities to synthesize and advise stakeholders
- Partner with internal stakeholders and legal in the negotiation of various complex market data agreements to attain beneficial commercial terms and mitigate business risk
- Demonstrated ability to use data analysis to identify and deliver market data opportunities
- Ability to build partnerships with cross-functional teams and facilitate interactions with technology, product and support teams
- Effective written and verbal communication skills
- Conceptual understanding of portfolio valuations, fund accounting, performance attribution, financial and regulatory risk modeling to advise on landscape intelligence to inform licensing use cases
- Knowledge of the Asset Manager/Owner investment process and workflow to determine vendor alignment
- Deep understanding of the market data/index landscape and respective providers
- Serve as escalation contact for internal clients and external providers, ability to communicate with leadership as required
What We Value
Business Influence
- Develops and maintains strong relationships with business units to drive our preferred supplier relationships.
- Lead negotiations in complex, high impact or volatile situations involving high business risk, and achieve optimal price/performance and price/quality ratio to realize structural savings.
- Serve as escalation contact for internal stakeholders and external providers; ability to communicate C-level as required
- Collaborates with business units, product stakeholders to provide guidance, align goals and objectives with respective market data suppliers.
- Drives for results by consistently achieving goals against deliverables.
- Working with business units to identify potential “fit for purpose” vendors/services, evaluate and recommend low cost alternatives.
- Collaborate and partner with procurement and across various legal, compliance and risk mitigation departments to ensure adherence with respective policies and achievement of relevant contractual terms
Education & Preferred Qualifications
- Minimum of 10+ years’ industry experience and knowledge of market data sourcing and product licensing, distribution products and solutions
- Bachelor’s degree, preferably in finance, business, economics or other quantitative related area
- Proven experience in market data licensing/commercial policy, either as a consumer (sellside or buyside), from a peer group company or Market Data vendor with multi-capability product portfolio is highly desired.
- Strong communication and interpersonal skills, and proven ability to work independently.
- Demonstrated ability to develop and navigate complex relationships externally and internally
- Ability to work well under tight deadlines in a fast-paced, team-oriented environment
- Must be organized, detail oriented, responsive and be able to adapt quickly to a rapidly changing environment.
- Strong stakeholder management skills inclusive of managing conflicts and ability to provide solutions to leverage the broadest benefits for the firm
- Knowledge of market data products/services.
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.
For further information, and to apply, please visit our website via the “Apply” button below.
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