About the Role
The Procurement team, which sits within the Finance organization, is responsible for sourcing and purchasing of Morningstar’s indirect and direct spend. This role will focus on the data category of spend, supporting various business groups (e.g. Indexes, Investment Management, etc.). It reports directly to our Senior Manager of Data Procurement.
• Work with Subject Matter Experts (SME) across business units to manage data vendors and annual expenses versus budget.
• Work with product SME to negotiate and prioritize monthly contract renewals and new purchases.
• Work with business units and operations teams to ensure contract compliance, reduce audit risks, and report on quarterly metrics.
• Process purchase requisitions, approvals, purchase orders, and invoices for select purchases. Obtain competitive pricing from suppliers and negotiate pricing and terms.
• Support Procurement Manager with analyzing category spend, finding savings/consolidation opportunities, evaluating supplier risk/opportunities, and analyzing contract compliance.
• Participate in sourcing events by researching suppliers, drafting Requests for Proposals (RFPs), analyzing responses, supporting negotiations, and supporting consensus building.
• Work with suppliers to enable them on our Procure to Pay (P2P) tool.
• Identify opportunities to improve the efficiency, reporting capabilities, and consultative approach of the procurement team.
• A bachelor’s degree in Engineering, Finance, Accounting, or similar and 2-5 years of work is required.
• Demonstrated negotiation skills and prior sales, support or procurement experience.
• Detailed knowledge of one or more Morningstar products is a plus.
• Possesses strong analytical and financial analysis skills to research and evaluate procurement options.
• Proficiency in Excel strongly preferred (in some cases, analyzing large data sets using functions like VLOOKUP, PivotTables, and similar).
Nice to have
-Prior data procurement experience, or working with clients in a sales/support role.
-Knowledge of Morningstar products and services