Title:  Sourcing Market Data Services

Join our Team

It is an exciting time at Chain IQ and our team in Jersey City are looking for a Senior Consultant in Sourcing Market Data Service.

Chain IQ generate value far beyond cost reduction. We transform our client’s indirect procurement towards a world-class, resilient, ethical and digitalized end-to-end function. We promote a culture of collaboration and shared excellence while encouraging an open and honest exchange of ideas. We offer the potential for significant corporate growth and career development.

Our ambition is to strengthen the existing highly experienced team to provide the best in industry support to our growing client base.

Role Purpose

The primary purpose is to deliver value-add sourcing services to clients in a structured, professional and consistent manner.

Responsibilities

We are currently seeking a Senior Consultant to join the Sourcing Market Data Services. The Senior Consultant needs to be a dynamic, highly client-focused individual with proven experience within Market Data.

The individual will have experience in working with the main suppliers in globally of Market Data.

Main responsibilities will include:

• Serve as a subject matter expert on supplier Market Data offerings.
• Directly manage Market Data Sourcing engagements of varying spend, risk, and complexity levels, managing engagements in Market Data Services including industry publications/subscriptions.
• Communicate regularly with key business stakeholders to understand strategic direction, business requirements, objectives, and priorities across assigned categories.
• Understand business requirements of each deal, and shape deals and contracts to meet those requirements.
• Assess savings opportunities on all engagements, and work with clients to achieve optimal cost reductions/savings as appropriate.
• Develop and maintain key Market Data Supplier relationships, and stay current on their products, services, and competitors.
• Manage competitive bids and RFxs for US and global Market Data engagements using automated tools and lead the evaluation and selection process across a cross functional team of stakeholders.
• Follow required processes and procedures related to supplier engagement, contract negotiation and contract execution - to ensure compliance with clients’ legal, regulatory, business, and regional policies.
• Provide detailed project status (and associated Savings) reporting on all active and completed Sourcing deals, using required Chain IQ and client tools/platforms.
• Partner with global Chain IQ colleagues to ensure cross-functional coordination of engagements, supplier management, process implementation, and best practices.
• Draft contracts based on clients’ standard templates and customize deal-specific commercial terms/conditions as needed.

Requirements

• Bachelor’s degree required. (Supply Chain and/or MBA would be a plus).
• Minimum of 8+ years’ experience in Sourcing roles in Market Data Services.
• Demonstrated sourcing and negotiation experience with major Market Data Suppliers
• Ability to perform contract drafting and negotiations with limited Legal support.
• Demonstrated experience in identifying savings and cost reduction opportunities in contract negotiations and developing and leading negotiating strategies to achieve those savings.
• Ability to effectively communicate with and influence senior clients/stakeholders.
• Ability to quickly understand and apply new concepts (i.e., supplier pricing models; contracting options and alternatives; sourcing tools and platforms; sourcing process, policies, and procedures);
• Ability to effectively organize and prioritize a wide array of initiatives to tight deadlines
• Experience in working with market leading sourcing tools/systems would be a plus.

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