Strategic Sourcing Manager
AIG
full-time
Posted on:
Location Type: Hybrid
Location: Parsippany • New Jersey • United States
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Salary
💰 $135,000 - $150,000 per year
About the role
- Develop, implement, and manage comprehensive category strategies for financial market data, including subscriptions, real-time feeds, historical data, analytical platforms, and related services, to drive optimal cost, quality, and service levels across the enterprise.
- Perform in-depth market analyses, identifying trends in financial data services, emerging data providers and technologies, opportunities for cost optimization, and potential supply chain risks.
- Partner with cross-functional teams and key stakeholders to define market data requirements, ensure alignment with overall business objectives and regulatory mandates, and optimize data utilization.
- Lead and execute complex negotiations for market data contracts and licenses with providers, optimizing terms, pricing models, and ensuring strict compliance with company policies, licensing agreements, and industry regulations.
- Identify, develop, and implement continuous improvement initiatives for market data sourcing processes, enhancing efficiency, transparency, and achieving measurable cost savings and cost avoidance.
- Develop strong and collaborative relationships with critical market data suppliers and internal stakeholders.
- Develop, implement, and report on key performance indicators (KPIs) and service level agreements (SLAs) specific to market data; Track progress towards strategic goals, drive accountability for supplier performance, and maintain a strong governance framework for market data acquisition and usage.
Requirements
- Bachelor's degree in Finance, Economics, Business Administration, Supply Chain Management, or a related field is required
- An MBA or advanced degree is strongly preferred, particularly with a focus on quantitative analysis, financial markets, or technology management
- 7+ years of progressive experience in strategic sourcing, category management, or procurement, with a focus in the Market Data category within financial services or insurance and/or IT sourcing
- Deep understanding of the financial market data landscape, including different data types (real-time, historical, reference data), delivery mechanisms, licensing models, and key providers
- Strong understanding of financial market operations and how market data supports various business functions
- Excellent negotiation skills with a demonstrated track record of successfully negotiating complex market data contracts and licenses
- Excellent communication, presentation, and interpersonal skills to effectively engage with and influence senior business stakeholders, legal, compliance teams, and external market data providers
- Strong proficiency in managing contract lifecycles, ensuring compliance, and mitigating associated risks
- Strong understanding of relevant financial regulations and data privacy regulations impacting market data procurement and usage
- Proficiency in market data inventory and usage management systems and procurement software (e.g., SAP Ariba).
Benefits
- Health insurance
- Retirement plans
- Paid time off
- Professional development opportunities
- Bonuses
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard Skills & Tools
strategic sourcingcategory managementprocurementmarket data analysisnegotiationcontract managementfinancial market datadata privacy regulationsquantitative analysiscost optimization
Soft Skills
communicationpresentationinterpersonal skillscollaborationinfluenceleadershipaccountabilityrelationship managementproblem-solvingcritical thinking
Certifications
Bachelor's degree in FinanceBachelor's degree in EconomicsBachelor's degree in Business AdministrationBachelor's degree in Supply Chain ManagementMBAadvanced degree in quantitative analysisadvanced degree in financial marketsadvanced degree in technology management