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For Companies At a Glance
- Tasks: Manage market data contracts, negotiate with vendors, and ensure compliance.
- Company: Join Schroders, a global investment manager with over 200 years of experience.
- Benefits: Enjoy flexible working in a modern HQ located in London's financial centre.
- Why this job: Be part of a supportive team that values diversity and innovation in investment management.
- Qualifications: Strong background in market data, negotiation skills, and knowledge of compliance required.
- Other info: We celebrate diversity and are an equal opportunities employer.
The predicted salary is between 43200 - 72000 £ per year.
This job is brought to you by Jobs/Redefined, the UK\’s leading over-50s age inclusive jobs board.
Job Description
Market Data Commercial Manager
Who we\’re looking for
You will have a strong background in Market data with proven negotiation skills and a knowledge of compliance ideally from an Investment Management background, You will be working with a very experienced and supportive team with a broad range of stakeholders and role responsibilities so must be a team player.
About Schroders
We\’re a global investment manager. We help institutions, intermediaries and individuals around the world invest money to meet their goals, fulfil their ambitions, and prepare for the future.
We have around 6,000 people on six continents. And we\’ve been around for over 200 years, but keep adapting as society and technology changes. What doesn\’t change is our commitment to helping our clients, and society, prosper.
The base
We moved into our new HQ in the City of London in 2018. We\’re close to our clients, in the heart of the UK\’s financial centre and we have everything we need to work flexibly.
What you\’ll do
You will have a good knowledge of Market Data operations with relevance to activities within an investment management company. As a Market Data Commercial Manager, the role will require undertaking demand challenges with vendors as well as internal business groups to ensure effective cost-control, identification of saving opportunities and the consolidation/rationalisation of products within our supply chain. You will identify key stakeholders to determine market data business requirements, and you will be required to support the business by reviewing draft contracts and negotiating the commercials with our service providers. The function will simultaneously need to provide suitable compliance oversight to ensure adherence to vendor terms and conditions. This will require significant interaction with internal groups to educate and manage operating behaviours.
Ideally, the role also expects a strong background in the procurement of Index data, covering the key providers, their commercial policies, usage rights and associated challenges. Previous knowledge around how a buy-side asset manager benefits from its use would also be beneficial.
Key workflows for this function within Market Data include:
- Global engagement for vendor management in-line with the firms ongoing needs
- Facilitation of BAU requests for services through demand management
- Entitlements and user permissioning
- Product utilisations with users and providers
- Contract pipeline management
- Responsible for vendor reporting and declaration requirements
- Monthly processes – month-end checks, inventory preparation, MI generation and reporting
- Commercial oversight for contractual obligations around subscriptions and usage
- Efficiency based optimisation of user needs and vendor services
- Represent Market Data within Project groups where appropriate
- Engagement with business requestors on new requirements and existing renewals
Key Responsibilities:
- Manage the contract renewals process through pipeline tracking and interaction with the Business in accordance with our \’High/Low\’ and \’Front to Back\’ commercial processes
- Engagement with the standard BAU process of ordering data, including the process for indices
- Management of contractual renewal pipeline and maintaining a lens on cost rationalisation and demand management at all times.
- Business Relationship management and Vendor liaison as an owner of the commercial relationships with our providers
- Support for service enablement and escalation point for service and vendor issues
- Advising new/existing users and stakeholders about vendor policies and market data license restrictions
- Consultancy expertise to users/project teams at the contract level with regard to data usage and licensing
- Understanding and validating technical controls and system usage
- Responsible for recharge methodology for contracts managed
- Key liaison to Legal as part of the commercial review process
- Inventory updates and maintenance of contracts records
- Assisting the Global Team with cross-function Reporting and MI generation
The knowledge, experience and qualifications you need
- A strong Commercial Manager with a proven track in market data commerciality, negotiations, compliant use of data and regulatory impacts
- A good understanding around procurement of Index data is also preferred
- Experience of working with vendors at both a strategic and tactical level, including Bloomberg, FactSet, LSEG, ICE Data Services, FTSE Russell, MSCI etc.
- Experience of market data systems such as Optimize (previously FITS), DART, DACS . Also Strong MS-Office skills, especially Excel
- Excellent communication and relationship management skills
- Acute attention to detail and a can-do flexible attitude
- Able to work to tight deadlines, particularly in relation to diarised processes and contract expiries
- Good knowledge of Investment Management – what we do as a firm/how we make money
We recognise potential, whoever you are
Our purpose is to provide excellent investment performance to clients through active management. Diversity of thought, facilitated by an inclusive culture, will allow us to make better decisions and better achieve our purpose. This is why inclusion and diversity are a strategic priority for us and why we are an equal opportunities employer. You are welcome here, regardless of your age, disability, gender identity, religious beliefs, sexual orientation, socio-economic background, or any other protected characteristic.
About Us
We\’re a global investment manager. We help institutions, intermediaries and individuals around the world invest money to meet their goals, fulfil their ambitions, and prepare for the future.
We have around 6,000 people on six continents. And we\’ve been around for over 200 years, but keep adapting as society and technology changes. What doesn\’t change is our commitment to helping our clients, and society, prosper.
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Market Data Commercial Manager employer: Schroders
Contact Detail:
Schroders Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Market Data Commercial Manager
✨Tip Number 1
Familiarise yourself with the key vendors mentioned in the job description, such as Bloomberg and FactSet. Understanding their commercial policies and how they operate will give you an edge during discussions and negotiations.
✨Tip Number 2
Brush up on your negotiation skills by practising scenarios related to market data contracts. Role-playing these situations can help you feel more confident when it comes time to negotiate terms with service providers.
✨Tip Number 3
Network with professionals in the investment management sector, especially those who have experience in market data roles. This can provide you with insights into the industry and potentially lead to referrals or recommendations.
✨Tip Number 4
Stay updated on compliance regulations related to market data usage. Being knowledgeable about these regulations will not only help you in the role but also demonstrate your commitment to adhering to best practices.
We think you need these skills to ace Market Data Commercial Manager
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your experience in market data and investment management. Focus on your negotiation skills and any relevant compliance knowledge, as these are key for the Market Data Commercial Manager role.
Craft a Compelling Cover Letter: In your cover letter, explain why you are passionate about market data and how your background aligns with the responsibilities of the role. Mention specific experiences that demonstrate your ability to manage vendor relationships and negotiate contracts.
Highlight Relevant Skills: Emphasise your strong MS-Office skills, particularly in Excel, and your experience with market data systems. Make sure to mention any familiarity with key vendors like Bloomberg or FactSet, as this will strengthen your application.
Showcase Teamwork and Communication: Since the role requires collaboration with various stakeholders, provide examples of how you've successfully worked in teams and communicated effectively in previous positions. This will demonstrate your ability to fit into their supportive team environment.
How to prepare for a job interview at Schroders
✨Showcase Your Negotiation Skills
As a Market Data Commercial Manager, negotiation is key. Prepare examples of past negotiations you've successfully handled, especially in the context of market data or vendor management. This will demonstrate your capability to manage contracts effectively.
✨Understand Compliance and Regulatory Impacts
Familiarise yourself with compliance issues related to market data usage. Be ready to discuss how you have ensured adherence to vendor terms and conditions in previous roles, as this is crucial for the position.
✨Demonstrate Team Collaboration
This role requires working closely with various stakeholders. Prepare to share experiences where you successfully collaborated with teams or managed relationships with vendors, highlighting your ability to be a team player.
✨Know Your Market Data Systems
Brush up on your knowledge of market data systems like Optimize, DART, and DACS. Being able to discuss these tools confidently will show that you're well-prepared and understand the technical aspects of the role.
