Enterprise Market Data, Strategic Sourcing - Sub Custody Finance ('SCF')
Summary: Serve as a subject matter expert and responsible for leading and managing critical Sub-Custody supplier and business unit relationships, fee negotiations and savings initiatives. Provides sourcing and procurement project expertise and analytics as well as lead the collection and analysis of data. Influences overall category strategy and drives improvements of global policies, programs and processes.
Responsible for contract review, drafting and creation of various agreements, including NDAs, Master Agreements, Statements of Work, SLAs, etc.
Participates with business in RFx (e.g. Request for Proposal, Request for Information, Request for Quote) process, including project management, development of RFx, negotiations and award process.
Interacts with business and Partners to formulate and implement strategy and solutions to enhance existing services, create new services or improve processes.
Establish and maintain relationship with key partners, education on policy/guidelines and resolving related agreement issues.
Analyze and evaluate subcustodian vendor solutions.
Displays planning and proactive follow up skills with all partner and vendor interactions.
Employs market/competitor awareness in relationship communication and business development opportunities.
Participate in various project teams developing solutions required by business partner's needs.
Create and maintain comprehensive project documentation
Responsible for monitoring the contract renewal process and notifying appropriate partners.
Supports and monitors supplier adherence to contracts, manage suppliers via supplier activity reporting and business/performance reviews, supplier rationalization and demand management opportunities.
Identify potential savings opportunities
Tracks savings including projected, realized and cost avoidance
Utilize FITS (Financial Information Tracking Systems) database to track all subcustodian legal agreements.
Coordinate with Sub Custody Network Country Managers to understand current and proposed future engagements and changes to fee agreements.
Work with the SCF team to support invoice processing, reconciliation and order processing to ensure billing accuracy.
Responsible for maintenance of procurement processes and procedures. Experience Required:
A Bachelor's degree in Business, Finance and/or relevant work experience in Sourcing or Procurement required.
Extenstive experience in the financial services industry
Familiarity with Sub Custody business and functions
Prior experience working in a fast-pace, high demand environment
Exhibits strong time management skills and sets priorities
Capacity to handle multiple complex tasks simultaneously
Solid written and oral communications skills
About Northern Trust: Northern Trust provides innovative financial services and guidance to corporations, institutions and affluent families and individuals globally. With 130 years of financial experience and nearly 20,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.
Working with Us: As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company that is committed to strengthening the communities we serve!
We recognize the value of inclusion and diversity in culture, in thought, and in experience, which is why Forbes ranked us the top employer for Diversity in 2018.
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 ethical companies. Build your career with us and apply today!
Want to learn more about our company? Visit www.northerntrust.com
We are a leading global financial institution- Click here to check out our company accolades!
Internal Number: 6110881
About Northern Trust
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