Morningstar · 1 week ago
Procurement Manager - Data and Professional Services
Chicago, IL
Full-time
Hybrid
Senior Level, Lead/Staff
$95K/yr - $162K/yr
8+ years expMorningstar is seeking a Procurement Manager to lead their Market Data Procurement team. The role involves sourcing market data, managing vendor relationships, ensuring compliance with regulations, and optimizing costs while enhancing departmental effectiveness.
Asset ManagementEnterprise SoftwareFinanceFinancial ServicesImpact InvestingMarket ResearchNewsSoftwareTelecommunications
Responsibilities
Identify, evaluate, and negotiate with market data vendors to procure essential data feeds and services
Stay abreast of market trends and emerging technologies to recommend innovative data opportunities
Manage and implement processes and tools for the procurement of Market Data, Indexes, Exchanges, and Professional Services categories
Implement strategic sourcing initiatives and negotiate contracts to achieve optimal terms
Collaborate with vendors to optimize contract terms, pricing structures, and service level agreements
Lead negotiations with market data vendors to secure favorable terms and conditions
Draft and review contracts, ensuring legal and financial compliance
Facilitate compliance objectives regarding Third-Party Data licensing, entitlement, distribution, and usage
Facilitate adherence to industry regulations and internal policies
Assess and mitigate risks associated with market data sources and contracts
Develop and implement strategies to optimize market data costs while maintaining data quality
Conduct regular cost-benefit analyses to ensure the efficiency of data procurement processes
Provide leadership to the Market Data Procurement team
Coach and mentor team members to enhance their skills and performance
Build and maintain strong relationships with vendors, stakeholders, and internal teams
Collaborate with business units to understand their market data needs and align procurement strategies accordingly
Develop and execute strategic roadmaps for procurement processes and delivery
Identify opportunities for process improvement and optimization
Participate in relevant committees and take ownership of key initiatives
Represent the Market Data Procurement function in cross-functional meetings
Implement metrics and key performance indicators (KPIs) to monitor the performance of market data vendors
Take proactive measures to address any issues affecting data quality or service levels
Assess and improve the maturity of the Market Data Department
Execute initiatives to enhance departmental effectiveness and efficiency
Collaborate with internal stakeholders, including IT, finance, and business units, to understand data requirements and align procurement strategies with organizational goals
Qualification
Required
Bachelor's degree in Business, Finance, or a related field; MBA preferred
8 years of experience in Market Data
Operational knowledge of, and experience in, market data systems, processes, entitlements, and compliance audits
In-depth knowledge of financial markets and data sources
6 years of negotiation and contract management, with demonstrable examples of methods used and outcomes
Familiarity with regulatory requirements related to market data
Extremely strong relationship-building and communication skills
Preferred
Experience in Coupa, Salesforce, ServiceNow, MDSL, and MDM a plus
Analytical mindset with proficiency in data analysis tools
Experience using and incorporating AI Tools into processes, or an ability to upskill quickly in this area
Benefits
75% 401k match up to 7%
Stock Ownership Potential
Company provided life insurance - 1x salary + commission
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
Trust-Based Time Off
6-week Paid Sabbatical Program
6-Week Paid Family Caregiving Leave
Competitive 8-24 Week Paid Parental Bonding Leave
Adoption Assistance
Leadership Coaching & Formal Mentorship Opportunities
Annual Education Stipend
Tuition Reimbursement
Charitable Matching Gifts program
Dollars for Doers volunteer program
Paid volunteering days
15+ Employee Resource & Affinity Groups
Company
Morningstar
Morningstar provides independent investment research to investors worldwide.
10001+ employees
H1B Sponsorship
Morningstar has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2025 (32)
2024 (50)
2023 (68)
2022 (51)
2021 (57)
2020 (56)
Funding
Current Stage
Public CompanyTotal Funding
$91M2005-05-03IPO
1999-07-09Private Equity· $91M
Leadership Team
Kunal Kapoor
Chief Executive Officer
Lawrence Johnson
SVP & Head of Fintech Engagement
Recent News
Portfolio Adviser
2026-01-21
Portfolio Adviser
2026-01-21
2026-01-16
Company data provided by crunchbase