Strategic Sourcing Manager

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Our Global Sourcing & Procurement Services (GS&PS) colleagues manage all AIG third party spend, ensuring maximized productivity and quality. Our global team includes Category Strategy, Negotiations and Execution, Transformation, Operations, Productivity, Environmental Sustainability, Supplier Diversity, Analytics, Tools, and Program Governance. GS&PS is committed to providing value to our stakeholders through building trust, providing a best-in-class procurement experience, maximizing profit, minimizing risk, and enabling sustainable growth for AIG.

About the role

We are looking for an experienced Strategic Sourcing Manager for Market Data, focused on developing and implementing strategies for acquiring financial market data and ensuring optimal cost efficiency, data quality, and vendor management. The ideal candidate will have a proven record in strategic sourcing within the financial services sector with exceptional negotiation skills, a strong understanding of market data dynamics, and the ability to collaborate effectively with various stakeholders to meet strategic goals.

Responsibilities:

• Develop, implement, and manage comprehensive category strategies for financial market data, including subscriptions, real-time feeds, historical data, analytical platforms, and related services, to drive optimal cost, quality, and service levels across the enterprise.

• Perform in-depth market analyses, identifying trends in financial data services, emerging data providers and technologies, opportunities for cost optimization, and potential supply chain risks.

• Partner with cross-functional teams and key stakeholders to define market data requirements, ensure alignment with overall business objectives and regulatory mandates, and optimize data utilization.

• Lead and execute complex negotiations for market data contracts and licenses with providers, optimizing terms, pricing models, and ensuring strict compliance with company policies, licensing agreements, and industry regulations.

• Identify, develop, and implement continuous improvement initiatives for market data sourcing processes, enhancing efficiency, transparency, and achieving measurable cost savings and cost avoidance.

• Develop strong and collaborative relationships with critical market data suppliers and internal stakeholders.

• Develop, implement, and report on key performance indicators (KPIs) and service level agreements (SLAs) specific to market data; Track progress towards strategic goals, drive accountability for supplier performance, and maintain a strong governance framework for market data acquisition and usage.

Qualifications:

• Bachelor's degree in Finance, Economics, Business Administration, Supply Chain Management, or a related field is required. An MBA or advanced degree is strongly preferred, particularly with a focus on quantitative analysis, financial markets, or technology management.

• 7+ years of progressive experience in strategic sourcing, category management, or procurement, with a focus in the Market Data category within financial services or insurance and/or IT sourcing.

• Deep understanding of the financial market data landscape, including different data types (real-time, historical, reference data), delivery mechanisms, licensing models, and key providers.

• Strong understanding of financial market operations and how market data supports various business functions.

• Excellent negotiation skills with a demonstrated track record of successfully negotiating complex market data contracts and licenses.

• Excellent communication, presentation, and interpersonal skills to effectively engage with and influence senior business stakeholders, legal, compliance teams, and external market data providers.

• Strong proficiency in managing contract lifecycles, ensuring compliance, and mitigating associated risks.

• Strong understanding of relevant financial regulations and data privacy regulations impacting market data procurement and usage

• Proficiency in market data inventory and usage management systems and procurement software (e.g., SAP Ariba).

For positions based in NJ, the base salary range is $135,000 - $150,000. In addition, the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. We’re proud to offer a range of competitive benefits a summary of which can be viewed here: AIG Benefits Overview  

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At AIG, our people are our greatest asset. We know how important it is to protect and invest in what’s most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security—as well as your professional development—to bring peace of mind to you and your family.

Reimagining insurance to make a bigger difference to the world

American International Group, Inc. (AIG) is a global leader in commercial and personal insurance solutions; we are one of the world’s most far-reaching property casualty networks. It is an exciting time to join us — across our operations, we are thinking in new and innovative ways to deliver ever-better solutions to our customers. At AIG, you can go further to support individuals, businesses, and communities, helping them to manage risk, respond to times of uncertainty and discover new potential. We invest in our largest asset, our people, through continuous learning and development, in a culture that celebrates everyone for who they are and what they want to become.

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We’re committed to creating a culture that truly respects and celebrates each other’s talents, backgrounds, cultures, opinions and goals. We foster a culture of inclusion and belonging through learning, cultural awareness activities and Employee Resource Groups (ERGs). With global chapters, ERGs are a cornerstone for our culture of inclusion. The talent of our people is one of AIG’s greatest assets, and we are honored that our drive for positive change has been recognized by numerous recent awards and accreditations.

AIG provides equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.

AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities.  If you believe you need a reasonable accommodation, please send an email to candidatecare@aig.com.  

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