About Northern Trust:
Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.
Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.
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.
- Employs 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
Working with Us:
As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.
Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.
We’d love to learn more about how your interests and experience could be a fit with one of the world’s most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater
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 [email protected].
We hope you’re excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.
Apply today and talk to us about your flexible working requirements and together we can achieve greater.
Skills Required
- Bachelor's degree in Business, Finance or relevant sourcing/procurement experience
- Extensive contract negotiation experience on financial and legal terms
- Proven experience in the financial services industry
- Familiarity with market data feed types and applications
- Experience with market data vendors (Bloomberg, Thomson Reuters, IHS Markit, ICE Data Services)
- Experience leading RFx/competitive bidding and commercial negotiations
- Experience supporting trading desks or exposure to trade workflows
- Strong relationship management and stakeholder engagement skills
- Strong project management, quantitative analysis and negotiation skills
- Excellent oral and written communication, presentation and executive communication skills
- Strong computer skills (PowerPoint, Word, Excel)
- Experience with COUPA, OS (Optimize Spend/TRG) or MDM
Northern Trust Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about Northern Trust and has not been reviewed or approved by Northern Trust.
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Retirement Support — Retirement offerings are positioned as a standout, with a 401(k) plus an additional employer-funded pension described as a differentiator. This combination is repeatedly framed as a meaningful offset within total rewards, especially for long-term financial security.
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Leave & Time Off Breadth — Time-off benefits are depicted as generous, spanning paid time off, holidays, and dedicated paid volunteer time. The breadth of leave options is highlighted as a consistent strength that supports work-life balance.
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Healthcare Strength — Health coverage is characterized as comprehensive, typically including medical, dental, vision, and mental-health support through an assistance program. The offering is portrayed as robust and family-supportive, with multiple plan options in some descriptions.
Northern Trust Insights
What We Do
As a global leader in innovative wealth management, asset servicing and investment solutions, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families and institutions by remaining true to our enduring principles of service, expertise and integrity. A globally recognized Fortune 500 Company in continuous operation since 1889, we’ve built a legacy of empowering clients to reach their goals with confidence. Since our roots as a trust bank, we’ve grown to a global presence with more than 24,000 employees in more than 20 countries and across six core business units: Wealth Management Asset Management Asset Servicing Technology Corporate Functions Enterprise Operations Join a Team That’s Achieving Greater At Northern Trust, we refer to our employees as partners – with good reason. We understand that relationships are the key to our success. Here you’ll join a diverse and inclusive team of innovators with the drive to challenge the way things have always been done. Instead of choosing between a dynamic career and work-life balance, enjoy working with a team that supports your goals in the office and at home. We’ll help you get where you want to go without sacrificing what matters most to you. Delivering value and adhering to our enduring principles What are enduring principles? Since our founding, they have guided our strategy and success. Thanks to the dedication of our partners, Northern Trust continues to thrive by adhering to three enduring principles: service, expertise and integrity . What does this mean? Service Northern Trust has a relentless drive to provide exceptional service to our clients, our partners and our communities. We set new standards and go above and beyond in our commitment to delivering greater results. Expertise Expertise is at the core of who we are. We focus sharply on what we do well. From expanding our capabilities, to hiring talented professionals to developing innovative solutions, our expertise is why we continue to be a trusted advisor for generations of families and institutions. Integrity Operating with uncompromising ethics is central to Northern Trust’s heritage. As a result, our clients, partners and communities know they can rely on us. For more than 130 years, our integrity has been our guide – and that will never change.
Why Work With Us
At Northern Trust, we go further because we go together. We embrace flexibility, encourage balance, and prioritize inclusion at all levels, working together to keep you connected. We are committed to our employees—all 24,000 of them. Whether this is a first step or a bold new leap in your career, we’re here to help you move forward.
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