Procurement Specialist

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 work across multiple categories of spend including data, professional services, technology, and travel. It reports directly to our head of Procurement, with dotted lines to the Procurement Managers, and is based in our Chicago office.
Responsibilities:

• Contract Management: Lead the negotiation, drafting, and execution of market data and index contracts, ensuring compliance with organizational policies and regulatory requirements
• Compliance Oversight: Monitor and ensure compliance with contract terms, exchange reporting standards, and industry regulations, proactively identifying and addressing potential issues
• Market Data Expertise: Leverage in-depth knowledge of market data and index products to evaluate vendor offerings, ensuring alignment with organizational needs and budget
• Cost Optimization: Analyze procurement processes and identify cost-saving opportunities, driving value for the organization through effective sourcing strategies
• Data Reporting & Analysis: Deliver insightful reporting on procurement metrics and large data sets, synthesizing information into actionable insights for senior management decision-making
• Cross-Functional Collaboration: Collaborate with legal, finance, and operational teams to ensure seamless integration of procurement processes and compliance measures
• Prioritization & Project Management: Manage multiple deliverables in a fast-paced environment, prioritizing tasks effectively to meet deadlines and organizational objectives.

Qualifications:

• Bachelor's degree in a business or related field
• Significant experience (5+ years) in procurement with a focus on market data and index contracting
• Strong understanding of exchanges and compliance requirements

Skills:

• Extensive knowledge of market data and indexes, with a proven track record in contracting and compliance
• Excellent negotiation skills, capable of driving favorable outcomes in contract discussions
• Strong prioritization skills with experience managing multiple projects and deliverables
• Proficiency in data analysis and reporting, with the ability to synthesize large data sets into reports (excel strongly preferred)
• Strong understanding of procurement systems and processes
• Ability to foster cross-functional collaboration, working effectively with various teams and stakeholders

What We Offer:

• Competitive salary and comprehensive benefits package
• Dynamic work environment with opportunities for professional growth
• A chance to make a significant impact on our procurement strategy and operational efficiency
• Join our team to play a critical role in optimizing our market data procurement and ensuring compliance in a rapidly evolving industry

001_MstarInc Morningstar Inc. Legal Entity
Morningstar's hybrid work environment gives you the opportunity to work remotely and collaborate in-person each week. We've found that we're at our best when we're purposely together on a regular basis, at least three days each week. A range of other benefits are also available to enhance flexibility as needs change. No matter where you are, you'll have tools and resources to engage meaningfully with your global colleagues.