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- Tasks: Lead supplier relationships and negotiate contracts in a dynamic financial environment.
- Company: Join Northern Trust, a Fortune 500 company with over 130 years of experience.
- Benefits: Flexible work culture, career growth opportunities, and commitment to community service.
- Other info: Collaborative environment with accessible senior leaders and a focus on innovation.
- Why this job: Make an impact in the financial sector while developing your skills in sourcing and procurement.
- Qualifications: Bachelor's degree in Business or Finance and experience in contract negotiation required.
The predicted salary is between 60000 - 75000 £ per year.
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.
The Enterprise Market Data, Strategic Sourcing Manager will serve as a subject matter expert and be responsible for leading and managing critical Enterprise Market Data supplier relationships, negotiations and spend. Additionally, the selected candidate will provide 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.
Additional responsibilities include:
- 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 OS (Optimize Spend/TRG) 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.
- Proven and prior experience 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, etc.
- Experience working with or supporting trading desks, with exposure to trade workflows and end‐to‐end trade flows, preferred.
- 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. COUPA, OS or MDM experience a plus.
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.
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 MyHRHelp@ntrs.com.
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.
Enterprise Market Data, Strategic Sourcing Manager employer: Northern Trust Corp
Contact Detail:
Northern Trust Corp Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Enterprise Market Data, Strategic Sourcing Manager
✨Tip Number 1
Network like a pro! Reach out to your connections in the financial services industry and let them know you're on the lookout for opportunities. You never know who might have the inside scoop on a job opening or can put in a good word for you.
✨Tip Number 2
Prepare for those interviews! Research Northern Trust and understand their values, especially around service and integrity. Be ready to discuss how your experience aligns with their mission and how you can contribute to their success.
✨Tip Number 3
Showcase your negotiation skills! Since the role involves contract negotiations, think of examples from your past where you've successfully navigated tough discussions. This will demonstrate your expertise and confidence in handling vendor relationships.
✨Tip Number 4
Don't forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, it shows you're serious about joining the team at Northern Trust. Let's get you that interview!
We think you need these skills to ace Enterprise Market Data, Strategic Sourcing Manager
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Enterprise Market Data, Strategic Sourcing Manager role. Highlight relevant experience in contract negotiation and supplier management, as well as any familiarity with market data vendors. We want to see how your skills align with what we're looking for!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about this role and how your background makes you a great fit. Don’t forget to mention specific examples of your past successes in sourcing or procurement that relate to the job.
Showcase Your Communication Skills: Since excellent communication is key for this position, make sure your application reflects your writing skills. Keep it clear, concise, and professional. We love a good story, so if you have an example of a successful negotiation or project, share it!
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way to ensure your application gets into the right hands. Plus, you’ll find all the details about the role and our company culture there. Let’s get started on this journey together!
How to prepare for a job interview at Northern Trust Corp
✨Know Your Contracts Inside Out
As a Strategic Sourcing Manager, you'll be dealing with contracts daily. Make sure you understand the key terms and conditions of various agreements, especially NDAs and Master Agreements. Brush up on your negotiation skills and be ready to discuss how you've successfully navigated contract negotiations in the past.
✨Showcase Your Market Data Knowledge
Familiarity with market data vendors like Thomson Reuters and Bloomberg is crucial. Prepare to discuss your experience with different market data feed types and how they apply to trading workflows. This will demonstrate your expertise and ability to contribute from day one.
✨Demonstrate Strong Analytical Skills
The role requires analysing industry trends and vendor data. Be prepared to share examples of how you've used data analysis to drive decisions or improve processes in previous roles. Highlight any tools or methodologies you’ve employed to enhance your analytical capabilities.
✨Build Relationships Like a Pro
Relationship management is key in this role. Think of examples where you've successfully collaborated with internal partners or vendors. Show how you can be a trusted partner by discussing your approach to engaging stakeholders and driving improvements in service delivery.