Head of Market Data Administration
The Role: Morningstar offers market data for more than 14 million global instruments including equities, futures, options, commodities, and precious metals on every major exchange worldwide. Morningstar consumes and/or redistributes market and reference data from over 200+ exchanges and data providers to power Morningstar’s data, research, investment management and index businesses. With the continued growth and expansion across the Morningstar market data opportunities, the dependencies and associated risks/challenges around data usage and compliance increase. In this position, you will create and lead a team responsible for data compliance across the data products team within the Retail Investing Services and Experiences (RISE) organization. This person will set direction for and manage a team of global resources with a mandate to streamline and tighten processes through technology, consistent policies and risk mitigation. This role will benefit the organization by minimizing vendor and exchange audit risks, negotiating more favourable data deals by partnering with the sourcing function, and providing usage metrics for reducing/optimizing spend. This position can be based in our Chicago or London offices.
Responsibilities
Develop and implement market data administration strategy for global exchanges and market data providers, including leveraging technologies such as MDM and Salesforce for relationship management, entitlements, compliance and usage.
Maintain relationship with key vendors, share relevant knowledge across the business, and ensure that Morningstar has a holistic view of market data partners.
Direct all activities around new and updated exchange and vendor licenses with a superior level of understanding of Vendor of Record, Non-display/Derived data and internal/external redistribution policies.
Interact with business units to formulate and implement strategies to support market data needs, on-going usage and associated compliance requirements.
Represent Morningstar in industry groups, including FISD, to influence and drive improvements and consistency around global policies affecting Morningstar’s data usage.
Establish a new level of discipline and rigor around data audits, including timing, data sharing, tracking and favorable resolutions.
Accountable for tracking, training and education on acceptable data usage rights across the data enterprise, including establishment of steering committees when necessary.
Create and actively maintain the enterprise budgeting and forecasting for market data spend across Morningstar.
Build, manage and develop a diverse team, set goals and conduct performance evaluations.
Qualifications
15+ years of related leadership experience in market data sourcing, distribution and licensing/compliance/ audits in exchange, data vendor or financial services firm.
Deep experiences with market data policies, data contracting, exchange/vendor landscape and data licensing terminologies.
Working knowledge of industry entitlement systems such as Bloomberg EMRS or Refinitiv DACS and vendor reporting and tracking systems such as FITS/MDM.
Active and effective market data industry association experiences for addressing and influencing data topics.
Strong negotiation skills and effective in leveraging broader relationship for more favorable outcomes.
Experience managing and creating budgets and forecasts.
Proven people development and coaching skills.
Bachelor’s degree; MBA or other advanced degree/accreditation is strongly preferred.