Advisor Client Experience – Head of Strategic Partnerships at Morningstar

| Chicago
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Reporting to the General Manager, Global Head of Advisor Client Experience, this role is the North America Group lead for partnerships and critical commercial relationships for Morningstar, within the Advisor Client Experience business unit. This position is a senior role with substantial responsibility and management level expectations and will interface with multidisciplinary teams to evaluate existing partnerships, identify opportunities for growth and execute on those opportunities, to dramatically gather a new and diversified revenue stream for the Business Unit. In order of magnitude, in Year 1 looking to achieve net new annual recurring revenue (ARR) of >$1 million and growing at 50% year over year, thereafter for the next 3-5 years. This role will also work to identify and establish new partnerships that can deliver value for our customers and long-term growth for Morningstar. Such partnerships can include commercial arrangements with asset managers, intellectual property owners, technology firms, custodians and others. This new role is central to our overall business unit strategy, given the importance of partnerships to Morningstar’s business. Regular updates will be delivered to the Global Product Group, Executive Leadership Team (ELT), Finance & Strategy Committee and other stakeholders. Periodic coordination meetings are also to be conducted to align with the leadership team and associates in support of key partnership initiatives.

 

 

Responsibility:

• Leads analysis of partnership status, including scope of opportunity, revenue outcomes, legal and regulatory considerations, etc.
• Evaluates strategic considerations, such as strengths and weaknesses, and develops plans to optimize strategic impact of partnerships
• Leads negotiations with new partners with respect to licensing, product development and commercial collaboration
• Interacts with Global Product Group colleagues, as well as technology and business teams, in identifying incremental opportunities achievable through partnerships
• Builds deep and trusting relationships with counterparts at partner firms in order to promote collaboration, support visioning of growth areas and facilitate negotiations
• Understands and evaluates existing partnership contractual underpinnings, identifies risks and opportunities and communicates details effectively to legal and non-legal colleagues
• Assists with M&A initiatives that implicate partnerships of potential target companies
• Prepares and presents overviews of partnership status and opportunities to internal teams
• Partners with internal teams to create plan for partnership development and expansion
• Coordinates execution of plan with internal stakeholders and facilitates execution
• Maintains external industry contacts and draws on those contacts for insight into emerging trends and developments
• Sources and channels potential partnership ideas to leadership and other internal stakeholders for consideration
• Develops and utilizes technology tools to track and provide visibility into partnership initiatives

 

Requirements:

• MBA a plus but not required
• Emphasis on financial services technology ecosystems; digital account opening and trading preferred
• 5+ years of financial or technology industry experience, with significant time in sales
• Experience working in a collaborative and cross-functional environment
• Relationship management experience and significant exposure to strategy
• Capacity to understand legal documentation and translate business needs into effective legal terms
• Builder of relationships and social connections across range of counterparts
• Aptitude for long-term strategic thinking
• Able to prepare, analyze and draw conclusions from data
• Driver of execution in a timely manner according to plan
• Proven leader with ability to guide teams in critical initiatives
• Influencer and ability to interface with all levels of staff and Board of Directors
• Regular attendance at the workplace in a traditional office environment
• Ability to travel frequently

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Location

22 W. Washington , Chicago, IL 60602

An Insider's view of Morningstar

What does your typical day look like?

Every day is a little different. Our team is focused on POC (Proof of Concepts). My work involves problem-solving, development and software design. I work on the Data collections team, currently most of this involves, on a high level, automating the process currently used to collect data from raw sources through Machine Learning.

Upasna

Software Engineer, Data Collections - AI R&D

How does the company support your career growth?

We believe in promoting from within, based on previous impact to the team. Whenever possible, we will stretch our employees to take on expanded roles that aligns with the career progression they are interested in.

Jeff

Head of Technology and Product

What are Morningstar Perks + Benefits

Morningstar Benefits Overview

At Morningstar, your contributions have meaning and can drive change. Across our 27 offices worldwide, we’ve invested in fostering a community where talented, driven people can grow. Our entrepreneurial spirit and uncompromising ethics guide everything we do. It’s all in the name of empowering investors. Morningstar is proud to offer a comprehensive benefits package to eligible, full-time employees in the United States who work a minimum of 30 hours per week. Our benefits are designed to invest in your -- and your family's well-being, including investments in your health and financial future.

Culture
Volunteer in local community
Morningstar encourages our colleagues to become involved in their communities, by providing paid time off for volunteer activities.
Partners with Nonprofits
Friends outside of work
Eat lunch together
Intracompany committees
Daily sync
Open door policy
Team owned deliverables
Team based strategic planning
Group brainstorming sessions
Open office floor plan
Diversity
Dedicated Diversity/Inclusion Staff
Unconscious bias training
Morningstar encourages unconscious bias training for all employees, especially managers and hiring personal. We believe that by raising awareness of bias we can decrease its effects.
Diversity manifesto
Someone's primary function is managing the company’s diversity and inclusion initiatives
Diversity Employee Resource Groups
Hiring Practices that Promote Diversity
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
Morningstar offers two Flexible Spending Accounts (FSA)— one for healthcare expenses and one for dependent care expenses. You may enroll in both $ determine the contribution amount.
Disability Insurance
Dental Benefits
Our dental plan covers 100% of preventive services, 80% of basic services, and 50% of major services.
Vision Benefits
With Morningstar's vision benefits you can get an annual eye exam with an in-network provider with just a $10 copay.
Health Insurance Benefits
Morningstar continues to offer the choice of two medical plans—the Savings Plan and the Classic Plan. Both are administered by Blue Cross and Blue Shield of Illinois (BCBS).
Life Insurance
Morningstar offers 4 tiers of life insurance that offer varying benefits. Basic Life insurance is equal to 1 times an employee's annual salary.
Wellness Programs
Mental Health Benefits
Our insurance covers 80% on in-network mental health services. Our Employee Assistance Program provides no-cost, confidential, 24-hour counseling on a wide variety of issues.
Retirement & Stock Options Benefits
401(K)
Take advantage of a number of Morningstar tools to help you manage your 401(k) account and your finances, including Morningstar Retirement Manager, available to you at no cost.
401(K) Matching
Morningstar provides employees with a 401(k) matching plan managed. We match $0.75 for every dollar contributed, up to a maximum of 7% of employee pay contributed to the plan each pay period.
Company Equity
Morningstar’s global employee equity benefit, Shared Ownership, enables you to take a portion of your bonus payout and exchange it for RSUs, with Morningstar providing an additional 50% match.
Employee Stock Purchase Plan
Colleagues who exceed their performance goals substantially may be eligible for Impact RSU Awards as an additional reward on top of their cash bonus/commission award.
Performance Bonus
Match charitable contributions
Morningstar's Matching GIfts program will match your charitable giving up to the local currency equivalent of $500 USD per calendar year.
Child Care & Parental Leave Benefits
Child Care Benefits
Morningstar offers the option of in-home child and elder care, in addition to the existing day care center back-up care benefit.
Generous Parental Leave
Morningstar has a global minimum of 6 weeks paid time-off to bond with new family members. This benefit applies to all individuals equally, including birth mothers, fathers, adoptive parents.
Flexible Work Schedule
Morningstar provides employees with a flexible work schedule that includes Summer hours, Work from home, Flexible start and end times.
Remote Work Program
The safety of our employees is very important to us. We have been operating remotely due to COVID-19.
Family Medical Leave
Eligible employees may take up to 12 weeks of job-protected, unpaid leave per year for certain specified reasons, and up to a total of 26 workweeks of leave to care for a family member.
Adoption Assistance
We reimburse up to 80% for eligible adoption expenses, up to $4,000 per adoption, in addition to a minimum of 6 weeks paid time off.
Return-to-work program post parental leave
Company sponsored family events
Morningstar sponsors family oriented events Annually.
Vacation & Time Off Benefits
Unlimited Vacation Policy
Generous PTO
Paid Volunteer Time
Our employees receive 2 days per year of paid volunteer time.
Sabbatical
Paid Holidays
Paid Sick Days
Perks & Discounts
Casual Dress
Commuter Benefits
Company Outings
Some Meals Provided
Happy Hours
Parking
Recreational Clubs
Fitness Subsidies
Professional Development Benefits
Job Training & Conferences
Tuition Reimbursement
Diversity Program
Lunch and learns
Cross functional training encouraged
Promote from within
Mentorship program
Continuing Education stipend
Time allotted for learning
Online course subscriptions available
Customized development tracks
Paid industry certifications

Additional Perks + Benefits

Compensation at Morningstar is more than a salary. It’s about making positive contributions to both life and work. We give our diverse workforce the choice and flexibility they need to maintain their health, retirement plans, time, and professional growth.

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