Market Data Vendor Management Lead
Description
Envestnet is seeking a passionate and talented Market Data Vendor Management Lead to join our Platform Operations team. This position is expected to report to either our Raleigh, NC or Berwyn, PA office.
Envestnet is transforming the way financial advice and wellness are delivered. Our mission is to empower advisors and financial service providers with innovative technology, solutions, and intelligence to make financial wellness a reality for everyone.
Since our founding 20 years ago, we are fully vested in helping people live an intelligent financial life. If you love the idea of working in a Fintech company with the environment and excitement of a start-up where you are making everyday impact - then read on.
Job Summary:
The Market Data Vendor Management Lead is responsible for establishing and enforcing the engagement procedures for internal business stakeholders and third-party data vendors. This role leverages strong cross functional skills to coordinate with multiple different business units and departments on data requirements as well as Legal, Information Security, Compliance, and Vendor Management - to ensure vendor products and terms meet company policies and standards, as well as help establish new policies and standards to meet industry best practices for governance. In partnership with the business stakeholders, the Market Data Vendor Management Lead works with procurement to negotiate all data licensing and commercial terms with third party vendors as well as identify and propose opportunities for cost savings and optimization.
Job Responsibilities:
- Partner with internal stakeholders and 3rd party data vendors to foster alignment between business unit needs and vendor products, services, and activities
- Ideate, evangelize, and lead strategic initiatives in Market Data that reduce costs
- Provide an expertise of the use cases for vendor data across all Envestnet platforms
- Lead development and execution of annual strategic data vendor partner and investment plan
- Assist with the building and enforcement of the vendor management program that meets FFIEC, PCI, SOX, and SEC compliance – specifically leading the improvement of governance of our 3rd party data vendor
- Use knowledge of our use cases, the market and data flow to assist in negotiating pricing based on market and/or past purchase standards
- Accountable for accuracy of new or revised purchase requisitions from an approved expense purchase request; verifying vendor and product information, budget codes, taxes, and other related information
- Strong working knowledge and hands-on experience with the various market data vendors and their licensing policies
- Review new use cases and identify to the business any contractual barriers or restrictions within our relevant vendor agreements
- Accountable for tracking procurement requests through their lifecycle and informing appropriate personnel on status of purchase orders as requested as well as expediting where required
- Ensure that all contract and administration procedures are followed and executed in a professional manner including facilitation of timely usage reporting to vendors, internal usage audits, and system compliance with appropriate use of data based on contractual agreements
- Perform vendor and contract cost analysis and provide reporting to management in support of forecasting, cost reductions, negotiation proposals and scenarios, business case realization and vendor spend.
- Adherence to and application of Envestnet legal, compliance, risk, business continuity and administrative policy within the role and department(s) including the timely completion of training & awareness, affirmations and testing as requested.
- As part of the responsibilities for this role, you will understand and readily support Envestnet's established corporate business practices, policies, internal controls and procedures designed to create value or minimize risk.
Required Qualifications:
- Bachelor’s degree in related field
- 5 to 8 years of related business experience
- Data analysis and report development experience
- Data governance practice implementation experience
- Experience in vendor negotiation and relationship management experience with 3rd party vendors Specific experience with market data vendors is strongly preferred
- Ability to confidently communicate with and influence senior stakeholders
- Understanding foundational concepts of project management, finance, accounting, sourcing processes and technology investments
- Forecast and budget experience within Data Vendor Management scope is preferred
- Strong negotiation skills
- FinTech and financial data knowledge strongly preferred
About Us:
Envestnet is a leading independent provider of technology‐enabled investment and practice management solutions to financial advisors who are independent, as well as those who are associated with small or mid‐sized financial advisory firms and larger financial institutions. Envestnet's technology is focused on addressing financial advisors' front, middle, and back‐office needs while leveraging our platform to grow their businesses and expand client relationships.
We offer a highly competitive compensation and benefits package as well as the excitement, challenges, and rewards of a fast-growing, entrepreneurial company.
Why Choose Envestnet:
- Be a member of a leading financial services and products innovation company
- Competitive Compensation/Total Reward Packages that include:
- Health Benefits (Health/Dental/Vision)
- Paid Time Off (PTO) & Volunteer Time Off (VTO)
- 401K – Company Match
- Annual Bonus Incentives
- Parental Stipend
- Tuition Reimbursement
- Student Debt Program
- Charitable Match
- Wellness Program
- Health Benefits (Health/Dental/Vision)
- Work on global projects with diverse, energetic, team members who respect each other and celebrate differences.
Envestnet is an Equal Opportunity Employer.
Envestnet refers to the family of operating subsidiaries of the public holding company, Envestnet, Inc. (NYSE: ENV).
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