Market Data Commercial Manager
- Employer
- Schroders Investment Management
- Location
- London, United Kingdom
- Salary
- Competitive
- Posted
- Nov 15, 2022
- Closes
- Dec 03, 2022
- Ref
- 17662505
- Job Function
- Accounting/Audit/Tax
- Industry Sector
- Finance - General
- Employment Type
- Full Time
- Education
- Bachelors
Who we're looking for
The Commercial Market Data Manager will have a strong background in Market data with excellent negotiation skills and a knowledge of compliance, ideally from an Investment management background. Whilst this role will not have any 'direct report' responsibility, you will be working with a very experienced and supportive team with a broad range of stakeholders and role responsibilities so must be a team player, which is essential.
About Schroders
We're a global investment manager. We help institutions, intermediaries and individuals around the world invest money to meet their goals, fulfil their ambitions, and prepare for the future.
We have around 4,000 people on six continents. And we've been around for over 200 years, but keep adapting as society and technology changes. What doesn't change is our commitment to helping our clients, and society, prosper.
The base
This role is based in our state-of-the art newly built Moorgate office which compromises great eating facilities, a gym, doctors, dentist and lots of flexible working areas.
The team
The Market Data Services team is a specialist data content and commercial management function which provides industry-leading guidance and support for the acquisition, provisioning and governance of financial data to all areas of the firm globally. Our mandate is to ensure we operate best practice standards in the maintenance and supply of Market Data. With a diverse user-base comes immensely varied requirements for data and we support these needs by utilising the subject matter expertise and financial knowledge that our team is expected to demonstrate.
What you'll do
You will have a good knowledge of Market Data operations with specific relevance to activities within an investment management company. Commercial Management will require undertaking demand challenges with vendors as well as internal business groups to ensure effective cost-control, identification of saving opportunities and the consolidation/rationalisation of products within our supply chain. You will identify key stakeholders to determine market data business requirements and you will be required to support the business by drafting contracts and negotiating the commercials with our service providers. The function will simultaneously need to provide suitable compliance oversight to ensure adherence to vendor terms and conditions. This will require significant interaction with internal groups to educate and manage operating behaviours.
This role also expects a strong background in the procurement of Index data, covering the key providers, their commercial policies, usage rights and associated challenges. Previous knowledge around how a buy-side asset manager benefits from its use would also be beneficial.
Key Responsibilities for the Market Data Commercial Manager Role include:
• Engagement with the BAU process of ordering data, including the process for indices
• Manage the contract renewals process through pipeline tracking and interaction with Business Analysis
• Vendor liaison as the owner of the commercial relationships with our providers
• Support for service enablement and escalation point for service and vendor issues
• Advising potential & existing users and stakeholders about vendor policies and market data license restrictions
• Consultancy expertise to users / project teams at the contract level with regards to data usage and licensing
• Understanding and validating technical controls and system usage
• Monitoring of application data consumption
• Responsible for recharge methodology
• Key liaison to Legal as part of the commercial review process
• Inventory updates and maintenance of contracts records
Other Key workflows for this function within Market Data also include:
• Global engagement for vendor management in-line with the firms ongoing needs
• Facilitation of BAU requests for services through demand management
• Entitlements and user permissioning
• Product utilisations with users and providers
• Contractual Pipeline management
• Responsible for vendor reporting and declaration requirements
• Monthly processes - month-end checks, inventory preparation, due diligence
• Commercial oversight for contractual obligations around subscriptions and usage
• Efficiency based optimisation of user needs and vendor services
• Represent Market Data within Project groups where appropriate
• Engagement with business requestors on new requirements and existing renewals
Essential Skills
• A proven track record in Market Data, with strong experience in Market Data commercials, negotiations and compliance
• Good knowledge of Investment Management - what we do as a firm/how we make money
• Experience of working with vendors at both a strategic and tactical level, including Bloomberg, Factset, Refinitiv, Markit, FTSE and MSCI
• A strong working knowledge of Index data, its use and how it is commercially packaged by providers is preferred.
• Awareness around Regulatory change impacts, particularly in the Index space.
• Excellent communication and relationship management skills
• Attention to detail and a flexible attitude
• Able to work to tight deadlines, particularly in relation to diarised processes
• Experience of market data systems such as FITS, DART etc.
• Strong MS-Office skills, especially Excel
We're looking for the best, whoever they are
Schroders is an equal opportunities employer. You're welcome here whatever your sex, marital status, ethnic origin, sexual orientation, religious belief or age.
The Commercial Market Data Manager will have a strong background in Market data with excellent negotiation skills and a knowledge of compliance, ideally from an Investment management background. Whilst this role will not have any 'direct report' responsibility, you will be working with a very experienced and supportive team with a broad range of stakeholders and role responsibilities so must be a team player, which is essential.
About Schroders
We're a global investment manager. We help institutions, intermediaries and individuals around the world invest money to meet their goals, fulfil their ambitions, and prepare for the future.
We have around 4,000 people on six continents. And we've been around for over 200 years, but keep adapting as society and technology changes. What doesn't change is our commitment to helping our clients, and society, prosper.
The base
This role is based in our state-of-the art newly built Moorgate office which compromises great eating facilities, a gym, doctors, dentist and lots of flexible working areas.
The team
The Market Data Services team is a specialist data content and commercial management function which provides industry-leading guidance and support for the acquisition, provisioning and governance of financial data to all areas of the firm globally. Our mandate is to ensure we operate best practice standards in the maintenance and supply of Market Data. With a diverse user-base comes immensely varied requirements for data and we support these needs by utilising the subject matter expertise and financial knowledge that our team is expected to demonstrate.
What you'll do
You will have a good knowledge of Market Data operations with specific relevance to activities within an investment management company. Commercial Management will require undertaking demand challenges with vendors as well as internal business groups to ensure effective cost-control, identification of saving opportunities and the consolidation/rationalisation of products within our supply chain. You will identify key stakeholders to determine market data business requirements and you will be required to support the business by drafting contracts and negotiating the commercials with our service providers. The function will simultaneously need to provide suitable compliance oversight to ensure adherence to vendor terms and conditions. This will require significant interaction with internal groups to educate and manage operating behaviours.
This role also expects a strong background in the procurement of Index data, covering the key providers, their commercial policies, usage rights and associated challenges. Previous knowledge around how a buy-side asset manager benefits from its use would also be beneficial.
Key Responsibilities for the Market Data Commercial Manager Role include:
• Engagement with the BAU process of ordering data, including the process for indices
• Manage the contract renewals process through pipeline tracking and interaction with Business Analysis
• Vendor liaison as the owner of the commercial relationships with our providers
• Support for service enablement and escalation point for service and vendor issues
• Advising potential & existing users and stakeholders about vendor policies and market data license restrictions
• Consultancy expertise to users / project teams at the contract level with regards to data usage and licensing
• Understanding and validating technical controls and system usage
• Monitoring of application data consumption
• Responsible for recharge methodology
• Key liaison to Legal as part of the commercial review process
• Inventory updates and maintenance of contracts records
Other Key workflows for this function within Market Data also include:
• Global engagement for vendor management in-line with the firms ongoing needs
• Facilitation of BAU requests for services through demand management
• Entitlements and user permissioning
• Product utilisations with users and providers
• Contractual Pipeline management
• Responsible for vendor reporting and declaration requirements
• Monthly processes - month-end checks, inventory preparation, due diligence
• Commercial oversight for contractual obligations around subscriptions and usage
• Efficiency based optimisation of user needs and vendor services
• Represent Market Data within Project groups where appropriate
• Engagement with business requestors on new requirements and existing renewals
Essential Skills
• A proven track record in Market Data, with strong experience in Market Data commercials, negotiations and compliance
• Good knowledge of Investment Management - what we do as a firm/how we make money
• Experience of working with vendors at both a strategic and tactical level, including Bloomberg, Factset, Refinitiv, Markit, FTSE and MSCI
• A strong working knowledge of Index data, its use and how it is commercially packaged by providers is preferred.
• Awareness around Regulatory change impacts, particularly in the Index space.
• Excellent communication and relationship management skills
• Attention to detail and a flexible attitude
• Able to work to tight deadlines, particularly in relation to diarised processes
• Experience of market data systems such as FITS, DART etc.
• Strong MS-Office skills, especially Excel
We're looking for the best, whoever they are
Schroders is an equal opportunities employer. You're welcome here whatever your sex, marital status, ethnic origin, sexual orientation, religious belief or age.