• Permanent, Full time
  • Schroders Investment Management
  • 2018-12-10
  • London, England, United Kingdom
  • Competitive
  • Full time

Head of Market Data Commercial Management

Head of Market Data Commercial Management

Team Overview

The Market Data team is a specialist data content and commercial management function which provides industry-leading commercial management 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.

Overview of role within Market Data

This role requires a good knowledge of Market Data operations with specific relevance to activities within an asset management company. Commercial Management is required to undertake 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. As the function's lead, you will set the strategic direction for market data vendor management and commerciality as it relates to Schroders' consumption and cost. You will identify key stakeholders to determine market data business requirements and you will be required to support the business by shaping contracts and negotiating 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.

Key workflows for this function within Market Data include:

• Setting the functions strategic direction, globally, in terms of capability and value to the organisation
• Facilitation of BAU requests for services by providing commercial awareness and education
• Entitlements and user permissioning
• Product utilisations with users and providers
• Contract 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
• Assist with efficiency based optimisation of user needs and vendor services
• Represent Market Data within Project groups where appropriate
• Develop the scope and capability of the Commercial Management function

Key Responsibilities

• Owner for 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
• Produce communication material for internal stakeholders around contracts or key relationships
• Support for service enablements 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
• Owner of audit processes both internally and with vendors
• 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
• Ownership for the budget from Finance and its maintenance within Inventory
• Inventory updates where necessary including the operation of contract alarms
• Management responsibility for any and all other Market Data Commercial Managers
• Market Data owner for the relationships with Procurement and Legal

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 including, particularly, Bloomberg, Factset, Thomson Reuters
• A strong working knowledge of Index data, its use and how it is commercially packaged by providers
• Experience of market data systems such as FITS or MDM (Schroder's operates FITS)
• Excellent communication and relationship skills
• Able to see produce management-appropriate communications
• Attention to detail and a flexible attitude
• Good time management and ability to work to tight deadlines, particularly in relation to diarised processes
• Strong MS-Office skills