The Role
The Procurement Manager is responsible for market data sourcing, vendor management, compliance, cost optimization, team leadership, and strategic process improvement in procurement.
Summary Generated by Built In
What you'll do
Minimum Qualifications- Education & Prior Job Experience
Preferred Qualifications- Education & Prior Job Experience
Skills, Licenses & Certifications
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:
Total Cash Compensation Range
$74,325.00-109,008.33
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.
001_MstarInc Morningstar Inc. Legal Entity
- Manage technology spend categories such as software, SaaS, hardware, telecom, networking, infrastructure, cloud, labor, and managed services suppliers.
- Creates and manages category strategies, negotiations, RFPs, and contracts
- Creates, negotiates, implements and manages long term contracts while effectively developing and promoting strategic partnerships with suppliers
- Works closely with internal Morningstar clients and stakeholders to understand their business needs, objectives, product/service requirements and the broader operational processes
- Effectively communicates with appropriate management levels both internally and externally
- Identifies opportunities for improvement and makes constructive suggestions for change
- Manage the full supplier lifecycle, including sourcing, procurement, negotiations, contract management, and supplier performance evaluation.
- Develop, implement, and track comprehensive category strategies grounded in deep market analysis and aligned with company and stakeholder priorities; deliver measurable year-over-year cost reductions and working capital improvements.
- Conduct supplier spend, forecasting, and consumption analytics in partnership with Finance to identify sourcing optimization opportunities, contract consolidation opportunities, and measurable cost savings initiatives.
- Research and interpret the technology marketplace to understand supplier and market characteristics, identify sourcing trends, and uncover new opportunities for value creation.
- Lead Quarterly Business Reviews focused on SLAs to drive supplier accountability, proactively identify improvement opportunities, and monitor progress throughout the contractual period.
- Manage supplier performance by addressing conflict resolution, escalation, and resolution procedures promptly and effectively, ensuring issues are resolved and continuous improvement is maintained.
- Partner with Legal and Sourcing/Procurement teams throughout the supplier lifecycle to ensure robust contract operations and governance.
- Build strong partnerships and engagement with both existing and new strategic suppliers to enable high-quality, efficient support for internal stakeholders and business units.
- Champion continuous improvement initiatives to enhance quality, efficiency, and cost savings across all sourcing activities.
Minimum Qualifications- Education & Prior Job Experience
- Bachelor's degree in relevant field
- 3+ years related work experience in Supply Chain, Finance, Economics, Business Administration, Computer Science, Information Systems Management, or another related field
Preferred Qualifications- Education & Prior Job Experience
- Degree in Procurement, Supply Chain, Business Administration, Business Management, Finance, Accounting, or another related field
- 5+ years related work experience in Technology Procurement, Technology role or another related field
- Knowledge of Source to Pay systems, such as Coupa
- Strong project management and procurement workflow management skills across Source-to-Pay platforms such as ServiceNow and Coupa
- Supplier Risk Analysis and Supplier Relationship Management
Skills, Licenses & Certifications
- Skilled in Microsoft Office (e.g. Word, Excel, PowerPoint)
- A potential team leader with strong communication skills
- Understanding of supply chain concepts, with work experience applying those concepts
- Strong negotiating and influencing skills
- Self-directed and resourceful with the ability to handle multiple, simultaneous tasks with exhibited follow through and initiative
- Strong business and financial acumen, including project management, total cost management, budgeting, forecasting, savings realization, and supplier financial analysis
- Experience leveraging reporting and analytical tools to support forecasting, procurement operations, supplier performance management, and continuous process improvement
- Previous experience with Source to Pay systems, such as Coupa
- Advanced Excel skills, including spend analysis, forecasting, budgeting support, savings tracking, and supplier financial analysis
- High ethical standard
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
$74,325.00-109,008.33
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.
001_MstarInc Morningstar Inc. Legal Entity
Skills Required
- Bachelor's degree in Business, Finance, or a related field; MBA preferred
- 8 years of experience in Market Data
- Operational knowledge of market data systems, processes, entitlements, and compliance audits
- In-depth knowledge of financial markets and data sources
- 6 years of negotiation and contract management experience
- Familiarity with regulatory requirements related to market data
- Extremely strong relationship-building and communication skills
- Experience in Coupa, Salesforce, ServiceNow, MDSL, and MDM
- Analytical mindset with proficiency in data analysis tools
- Experience using AI Tools in processes
What the Team is Saying
Anna
Team Lead of Software Engineering
Upasna
Software Engineer, Data Collections - AI R&D
Saurabh
Senior Software Engineer
Wendell
Head of Sales, Institutional Equity Research
Raaghavendar
Associate Software Engineer
Jeff
Head of Technology and Product
Morningstar Compensation & Benefits Highlights
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Leave & Time Off Breadth — A recurring paid sabbatical combined with flexible time off in North America and regionally set PTO provides substantial time-away flexibility. Paid volunteer days further broaden the time-off offering.
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Parental & Family Support — A global minimum of paid parental leave for primary and secondary caregivers, along with paid caregiving leave, signals strong family support. Adoption-assistance reimbursement adds another layer of care for growing families.
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Retirement Support — Retirement programs include employer matching or fixed contributions and free access to Morningstar retirement-planning tools. These elements support long-term savings alongside the broader total-rewards package.
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The Company
What We Do
At Morningstar, we believe in building great products in-house in a highly collaborative, agile environment where we focus on technical excellence, the user experience, and continuous improvement. Our technologists represent a range of skills and experience levels, but they all view their work as a craft and push technology’s boundaries.
Why Work With Us
Imagining big things is in our blood -- it's transformed us from a company with just a few employees in 1984 to a leading independent investment research company with a worldwide presence today. As of April 2020, we acquired Sustainalytics to drive long-term meaningful outcomes for investors in the ESG space. Join us on this exciting journey!
Gallery
Morningstar Offices
Hybrid Workspace
Employees engage in a combination of remote and on-site work.
Typical time on-site:
3 days a week
