Sourcing & Procurement Support Analyst

Job Description: Sourcing & Procurement Support Role

A Sourcing and Procurement Support Analyst typically with 6-7 years of relevant experience and assists sourcing and procurement teams by gathering data, market research as needed, and supporting all sourcing and contracting activities including assisting the procurement team/ category managers in sourcing execution, template creation, Sourcing pipeline Management, Supplier evaluation, contract admin tasks and P2P support

Key Responsibilities:

- Market Data

i. Manage the end-to-end lifecycle of market data services, including sourcing, licensing, entitlements, renewals and decommissioning.

ii. Perform Vendor Contract analysis and support cost reduction initiatives through usage optimization, contract consolidation, and service rationalization.

iii. Provide oversight and administration of third party market data including contract management, invoicing and audit/legal compliance.

- Data Collection and Analysis:

i. Understand and assist in analysis related to purchasing, supplier performance etc. to identify trends and potential issues.

- Supplier Research and Identification:

i. Assist in Researching and identifying potential suppliers under the guidance of the Category / Sourcing Manager

- Contract Support:

i. Assist with contract management, including tracking deadlines, managing renewals, and ensuring compliance with terms and conditions.

- Sourcing Execution:

i. Support the category manager in executing sourcing events and Supplier evaluation

- Reporting and Analysis:

i. Assist in preparing reports on sourcing activities, supplier performance, and cost savings.

- Process Improvement:

i. Assist with the development and implementation of process improvements in sourcing and procurement.

- P2P Support:

i. Assist with any support needed on Procurement PO and other transactional processes

Key Skills and Qualifications:

1. Bachelor's degree in Finance, Business, Information Technology or a related field.

2. 6-7 years of relevant experience in market data management within capital markets or investment banking environments.

3. Strong knowledge of market data vendors and services

4. Ability to identify research objectives, develop appropriate methodologies, and solve complex problems related to market research.

5. Strong analytical skills for cost tracking, usage analysis and reporting.

6. Ability to collaborate effectively with team members and stakeholders from different departments.