Morningstar

Compensation

Full Description

The Role: If you are a seasoned professional with a proven track record in market data procurement, possess strong leadership capabilities, and are ready to take on a strategic role within our organization, we invite you to apply for this exciting opportunity. Join us in shaping the future of our organization through effective data management and strategic procurement practices. Responsibilities: Market Data Sourcing: Identify, evaluate, and negotiate with market data vendors to procure essential data feeds and services. Stay abreast of market trends and emerging technologies to recommend innovative data opportunities. Contract and Vendor Management: Manage and implement processes and tools for the procurement of Market Data, Indexes, Exchanges, and Professional Services categories. Implement strategic sourcing initiatives and negotiate contracts to achieve optimal terms. Collaborate with vendors to optimize contract terms, pricing structures, and service level agreements. Lead negotiations with market data vendors to secure favorable terms and conditions. Draft and review contracts, ensuring legal and financial compliance. Compliance Objectives: Facilitate compliance objectives regarding Third-Party Data licensing, entitlement, distribution, and usage. Facilitate adherence to industry regulations and internal policies. Assess and mitigate risks associated with market data sources and contracts. - Cost Optimization: Develop and implement strategies to optimize market data costs while maintaining data quality. Conduct regular cost-benefit analyses to ensure the efficiency of data procurement processes. Leadership and Coaching: Provide leadership to the Market Data Procurement team. Coach and mentor team members to enhance their skills and performance. Business Partnership and Relationship Management: Build and maintain strong relationships with vendors, stakeholders, and internal teams. Collaborate with business units to understand their market data needs and align procurement strategies accordingly. Strategic Process and Delivery Road Mapping: Develop and execute strategic roadmaps for procurement processes and delivery. Identify opportunities for process improvement and optimization. Committee Membership and Ownership: Participate in relevant committees and take ownership of key initiatives. Represent the Market Data Procurement function in cross-functional meetings. Performance Monitoring: Implement metrics and key performance indicators (KPIs) to monitor the performance of market data vendors. Take proactive measures to address any issues affecting data quality or service levels. Market Data Department Maturity Modeling and Execution: Assess and improve the maturity of the Market Data Department. Execute initiatives to enhance departmental effectiveness and efficiency. Cross-functional Collaboration: Collaborate with internal stakeholders, including IT, finance, and business units, to understand data requirements and align procurement strategies with organizational goals Requirements: Bachelor's degree in Business, Finance, or a related field; MBA preferred. 8 years of experience in Market Data. Operational knowledge of, and experience in, market data systems, processes, entitlements, and compliance audits. In-depth knowledge of financial markets and data sources. 6 years of negotiation and contract management, with demonstrable examples of methods used and outcomes. Familiarity with regulatory requirements related to market data. Extremely strong relationship-building and communication skills. Recommended: Experience in Coupa, Salesforce, ServiceNow, MDSL, and MDM a plus. Analytical mindset with proficiency in data analysis tools. Experience using and incorporating AI Tools into processes, or an ability to upskill quickly in this area. Compensation and Benefits At Morningstar we believe people are at their best when they are at their healthiest. That’s why we champion your wellness through a wide range of programs that support all stages of your personal and professional life. Here are some examples of the offerings we provide: Financial Health 100% 401k match up to 6% of salary Stock Ownership Potential Company provided life insurance - 1x salary + commission Physical Health Comprehensive health benefits (medical/dental/vision) including potential premium discounts and company-provided HSA contributions (up to $500-$2,000 annually) for specific plans and coverages Additional medical Wellness Incentives - up to $300-$600 annual Company-provided long- and short-term disability insurance Emotional Health Trust-Based Time Off 6-week Paid Sabbatical Program 6-Week Paid Family Caregiving Leave Competitive 8-24 Week Paid Parental Leave Adoption Assistance Leadership Coaching & Formal Mentorship Opportunities Annual Flex Stipend - $1000 annually to cover personal education & well-being expenses Tuition Reimbursement Social Health Charitable Matching Gifts program Dollars for Doers volunteer program Paid volunteering days 15+ Employee Resource & Affinity Groups Total Cash Compensation Range $95,275.00 - 161,975.00 USD Annual Inclusive of annual base salary and target incentive Morningstar's hybrid work environment gives you the opportunity to collaborate in-person each week as we've found that we're at our best when we're purposely together on a regular basis. In most of our locations, our hybrid work model is four days in-office each week. A range of other benefits are also available to enhance flexibility as needs change. No matter where you are, you'll have tools and resources to engage meaningfully with your global colleagues. 100_MstarResCanad Morningstar Research, Inc. (Canada) Legal Entity How to Apply for a Job at Morningstar Step 1 When you find a position you're interested in, click the 'Apply' button. Please fill out this form completely, attaching your resume and cover letter in the approved format. Read the job requirements carefully and make sure to attach writing or design samples as required. Applicants must submit their resume and other information through our corporate website to be considered for a job at Morningstar. No phone calls, please. Step 2 You will receive an email notification to confirm that we've received your application. Step 3 If you are called in for an interview, a representative from Morningstar will contact you to set up a date, time, and location. Be prepared for a rigorous interview process. To make sure you're a good fit for Morningstar and we're a good fit for you, we'll schedule time for you to meet with multiple staff members at all levels of the company. Expect to return for multiple interviews as part of the process. A representative from Morningstar will contact you with the results of your interview—either with a job offer or to let you know our plans for the position. Applicants With Disabilities Who Need Accommodation Morningstar is committed to working with and providing reasonable accommodation to individuals with disabilities. If, because of a medical condition or disability, you need a reasonable accommodation for any part of the employment process, please call +1 312 384-3900 or email AskHR@morningstar.com and let us know the nature of your request and your contact information. Please note: We only accept calls from applicants who need accommodation related to a disability. Please, no calls with unrelated questions or requests. Please be sure to include the title and location of the open position you’re interested in when you leave a message. US Applicants: Morningstar is an E-Verify program participant. Learn more: This Organization Participates in E-Verify (English) This Organization Participates in E-Verify (Spanish) Right to Work (English) Right to Work (Spanish) EEO is the Law Pay Transparency Notice Morningstar is strongly committed to creating and preserving equal opportunity for all employees and applicants. We make all employment decisions—including recruitment, hiring, compensation, training, promotion, transfer, discipline, termination, and other personnel matters—without regard to race, color, ancestry, religion, sex, national origin, age, disability, protected veteran status, marital status, sexual orientation, genetic information, citizenship, gender identity and expression, parental status, or other legally protected characteristics or conduct.