At a Glance
- Tasks: Lead and manage supplier relationships, negotiate contracts, and analyse market data.
- Company: Join Northern Trust, a Fortune 500 financial institution with a rich history.
- Benefits: Competitive salary, flexible work options, and opportunities for professional growth.
- Other info: Collaborative environment with a focus on innovation and career advancement.
- Why this job: Make an impact in the financial sector while developing your strategic sourcing skills.
- Qualifications: Bachelor's degree in Business or Finance and experience in sourcing or procurement.
The predicted salary is between 60000 - 80000 € per year.
Northern Trust is a Fortune 500 company, a globally recognized, award-winning financial institution that has been in continuous operation since 1889. 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.
- Employ 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.
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.
Enterprise Market Data, Strategic Sourcing Manager employer: Northern Trust
Northern Trust is an exceptional employer, offering a dynamic work environment that fosters professional growth and innovation. With a strong commitment to employee development, competitive benefits, and a collaborative culture, employees are empowered to excel in their roles while contributing to the success of a globally recognised financial institution. Located in a vibrant area, Northern Trust provides unique opportunities for networking and career advancement within the financial services industry.
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 a lead or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by researching Northern Trust and its market data operations. Understand their recent projects and challenges, so you can showcase how your skills in contract negotiation and vendor management can add value.
✨Tip Number 3
Practice your pitch! Be ready to explain how your experience with market data vendors and your strong analytical skills can help drive improvements in their sourcing processes. Confidence is key!
✨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.
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 your experience with contract negotiations and any relevant market data vendors you've worked with. 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 the perfect fit for this role. Share specific examples of your past experiences that relate to the responsibilities mentioned in the job description. We love a good story!
Showcase Your Analytical Skills:Since this role involves a lot of data analysis, make sure to highlight your analytical skills in your application. Mention any tools or methodologies you’ve used to analyse data and how they’ve helped in your previous roles. We’re keen on seeing your thought process!
Apply Through Our Website:Don’t forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it gives you a chance to explore more about who we are and what we do at Northern Trust.
How to prepare for a job interview at Northern Trust
✨Know Your Stuff
Make sure you brush up on your knowledge of market data suppliers and the financial services industry. Familiarise yourself with key players like Thomson Reuters and Bloomberg, as well as the types of market data feeds they offer. This will show that you're not just interested in the role but also understand the landscape.
✨Master the Art of Negotiation
Since this role involves a lot of contract negotiation, prepare by reviewing common negotiation tactics and strategies. Think about how you can demonstrate your negotiation skills during the interview. Maybe even have a few examples ready where you've successfully negotiated terms in the past.
✨Showcase Your Analytical Skills
Be ready to discuss how you've used data analysis in previous roles. Prepare to share specific examples of how you've collected and interpreted data to drive decisions or improvements. This will highlight your ability to provide sourcing process expertise and analytics, which is crucial for this position.
✨Communicate Clearly and Confidently
Strong communication skills are a must for this role. Practice articulating your thoughts clearly and confidently, especially when discussing complex topics like contracts and vendor relationships. Consider doing mock interviews with a friend to refine your presentation and executive communication skills.
