Job Description
Get to know the business Our Global Sourcing & Procurement Services (GS&PS) colleagues manage all AIG third party spend, ensuring maximized productivity and quality. Our global team includes Category Strategy, Negotiations and Execution, Transformation, Operations, Productivity, Environmental Sustainability, Supplier Diversity, Analytics, Tools, and Program Governance. GS&PS is committed to providing value to our stakeholders through building trust, providing a best-in-class procurement experience, maximizing profit, minimizing risk, and enabling sustainable growth for AIG. About The Role We are looking for an experienced Strategic Sourcing Manager for Market Data, focused on developing and implementing strategies for acquiring financial market data and ensuring optimal cost efficiency, data quality, and vendor management. The ideal candidate will have a proven record in strategic sourcing within the financial services sector with exceptional negotiation skills, a strong understanding of market data dynamics, and the ability to collaborate effectively with various stakeholders to meet strategic goals. Responsibilities Develop, implement, and manage comprehensive category strategies for financial market data, including subscriptions, real-time feeds, historical data, analytical platforms, and related services, to drive optimal cost, quality, and service levels across the enterprise. Perform in-depth market analyses, identifying trends in financial data services, emerging data providers and technologies, opportunities for cost optimization, and potential supply chain risks. Partner with cross-functional teams and key stakeholders to define market data requirements, ensure alignment with overall business objectives and regulatory mandates, and optimize data utilization. Lead and execute complex negotiations for market data contracts and licenses with providers, optimizing terms, pricing models, and ensuring strict compliance with company policies, licensing agreements, and industry regulations. Identify, develop, and implement continuous improvement initiatives for market data sourcing processes, enhancing efficiency, transparency, and achieving measurable cost savings and cost avoidance. Develop strong and collaborative relationships with critical market data suppliers and internal stakeholders. Develop, implement, and report on key performance indicators (KPIs) and service level agreements (SLAs) specific to market data; Track progress towards strategic goals, drive accountability for supplier performance, and maintain a strong governance framework for market data acquisition and usage. Qualifications Bachelor's degree in Finance, Economics, Business Administration, Supply Chain Management, or a related field is required. An MBA or advanced degree is strongly preferred, particularly with a focus on quantitative analysis, financial markets, or technology management. 7+ years of progressive experience in strategic sourcing, category management, or procurement, with a focus in the Market Data category within financial services or insurance and/or IT sourcing. Deep understanding of the financial market data landscape, including different data types (real-time, historical, reference data), delivery mechanisms, licensing models, and key providers. Strong understanding of financial market operations and how market data supports various business functions. Excellent negotiation skills with a demonstrated track record of successfully negotiating complex market data contracts and licenses. Excellent communication, presentation, and interpersonal skills to effectively engage with and influence senior business stakeholders, legal, compliance teams, and external market data providers. Strong proficiency in managing contract lifecycles, ensuring compliance, and mitigating associated risks. Strong understanding of relevant financial regulations and data privacy regulations impacting market data procurement and usage Proficiency in market data inventory and usage management systems and procurement software (e.g., SAP Ariba). For positions based in NJ, the base salary range is $135,000 - $150,000. In addition, the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. We’re proud to offer a range of competitive benefits a summary of which can be viewed here: AIG Benefits Overview At AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office. This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike. Enjoy Benefits That Take Care Of What Matters At AI