Director-Market Data Service Oversight Lead

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Date: Aug 27, 2021

Location: New York, NY, US

Company: New York Life Insurance Co

 

 

When you join New York Life Investments, a wholly owned subsidiary of New York Life Insurance Company, you are joining a global investment company with a long history and passion for career development, innovation, collaboration, and diversity, equity and inclusion. We want employees to feel proud about being part of a company that is committed to doing the right thing. Through various resources and programs, you can grow your career while developing personally and professionally.

 

As a top 25 global asset management firm with more than $600 billion in assets under management, we have an important mission: to help build a better financial future for our clients, our employees, and our communities. We invite you to bring your talents to New York Life Investments, so we can continue to help people achieve their financial aspirations. To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.

 

 

Position Description

New York Life Investments (NYLIM), an indirect, wholly owned subsidiary of New York Life Insurance Company, is a top 25 global asset management firm. With more than $605 billion in assets under management, NYLIM is a premier investment management firm serving a variety of client segments including retail, institutional, insurance and defined contribution and benefit on a global basis. New York Life Investments offers a diverse set of investment capabilities ranging from traditional equity and fixed income to alternative investment strategies and multi-asset solutions. Renowned for its premier investment acumen and client focus, NYLIM’s vision is to be one of the most trusted providers of investment management expertise and long-term financial security.

 

We are looking for an experienced Market Data Service Oversight Lead to effectively work across business units, accounting/finance, legal, and procurement to ensure the proper management and administration of market data services.

 

The ideal candidate will have a proven track record of successfully managing market data demand across business units, providing oversight for ongoing spend control/ reduction, recommending fit-for-purpose providers and expense allocation methodologies based on best practices in the Asset Management, Hedge Fund, Investment and/or Commercial Banking industries.

 

Key Role Responsibilities

  • Manage demand by coordinating with business units to 1. establish a comprehensive market data pipeline, and 2. define and rationalize the business’ scope of market data service needs
  • Manage budgeting and forecasting procesess, in collaboration with finance/accounting, for all market data services
  • Refresh and update existing expense allocations by applying industry best practices based on various methodologies (e.g., per license billing, usage-based billing, tiered-pricing based on # of securities/ reference data fields)
  • Maintain reports on market data service costs and identify ways to consolidate spend. Reconcile invoices with accounts payable information to confirm billing and understand overages (if any) in conjunction with finance/accounting
  • Recommend fit-for-purpose market data providers and identify opportunities for product rationalization to reduce / control ongoing spend for market data services
  • Responsible for maintaining an updated inventory, invoicing, reporting, and contracts for market data products and services used
  • Oversee compliance of market data license usage rights across business usage
  • Evaluate incumbent vendor’s support for administering market data subscription inventory, billing and invoicing services against competitor offerings in the market (e.g., Calero MDSL, S4 Market Data, TRG Screen) to decide on path forward
  • Manage market data supplier relationships on behalf of NYLIM’s business units

 

Desired Skills and Experience:

  • The candidate will have 10+ years of business operations and cost management experience in administering market data services in Asset Management, Hedge Fund, Investment and/or Commercial Banking industries
  • Bachelor's degree required, MBA or CFA preferred
  • A strong track record of successfully managing and working with market data suppliers such as Bloomberg, FactSet, MSCI, Morningstar, Exchanges (NYSE, ICE, etc.), Ratings agencies (S&P, Moody’s) etc.
  • Proficient with Excel and other MS Office applications (e.g., PowerPoint, Project) and knowledge of market data subscription inventory systems (e.g., Calero’s MDSL, FITS or TRG Screen’s InfoMatch) is a plus
  • Outstanding verbal, written and listening skills. Comfortable interacting with and influencing a broad range of audiences, from peers to senior business leaders
  • An assertive team-oriented self-starter with a positive attitude and the ability to work in a collegial fashion

Job Requisition ID: 83639

 

 

 

 

 

 

 


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