BNY offers an exciting array of future-forward careers at the intersection of business, finance, and technology. We are one of the world's top asset management and banking firms that manages trillions of dollars in assets, custody and/or administration. Known as the “bank of banks” - 97% of the world’s top banks work with us as we lead and serve our customers into the new era of digital.
With over 238 years of rich history and industry firsts, BNY has been built upon our proven ability to evolve, lead, and drive new ideas at every turn. Today, we’re approximately 50,000 employees across 35 countries with a culture that empowers you to grow, take risks, experiment and be yourself. This is what is all about.
The BNY Enterprise Sourcing Office (ESO) team seeks a Financial Services Sourcing Professional in the Financial Technology (FinTech) Sourcing Category to support the deal life-cycle for the following subcategories: investment technologies and trading platforms, infrastructure as a service (IaaS), software as a service (SaaS), cloud infrastructure, digital tools, bespoke application development & APIs, and other IT Sourcing related initiatives on behalf of the Firm. This position is located in Pittsburgh, PA, and is a hybrid position offering work flexibility.
Responsibilities
Development of strategic sourcing opportunities through the introduction of a competitive bidding, proofs-of-concept, demand management, supplier consolidation, and process reengineering
Partner with Technology/Business Leads, Vendor Risk and Legal teams in the negotiation of: Enterprise Licensing Agreements, Subscription Agreements, Master Services Agreements (MSAs), Statement of Work, Services Level Agreements (SLAs), NDAs, etc.
Own the full strategic sourcing cycle, including vendor identification and selection, price negotiation and contract “red-lining” (editing)
Perform deep dive spend analysis to identify, assess and implement cost savings opportunities including issuance of RFPs and competitive events, supplier consolidation, commercial negotiations (volume discounts/ price reductions).
Independently reviews and analyze contract asks, effectively communicates requirements and determines solutions and actions in response to contract asks.
Serves as the direct point of contact for negotiations with contracting parties.
Market research and benchmarking of suppliers and related service categories.
Set up regular meetings with key partners to review and prioritize deal pipeline and identify engagement opportunities early.
Serves as the direct point of contact for negotiations with contracting parties.
No direct reports.
Contributes to the achievement of business area objectives. Modified based upon local regulations/requirements.
Demonstrated commercial knowledge capability. Market Data experience a plus
Cost Optimization / Savings experience
Lead a call with senior leaders and represent the Enterprise Sourcing Organization
Qualifications
Bachelor's degree or equivalent combination of education and work experience required.
Business or Supply Chain degree preferred. Advanced degree preferred.
7-10 years of total work experience preferred.
Depth in understanding various software licensing options and metrics
Ability to solicit and analyze multiple proposals, create corresponding business cases (including financial reports), and present clear recommendations.
Effectively uses personal influence skills rather than authority to persuade others and gain support from senior leaders within global organizations.
Financial modeling skills to build multiple negotiation scenarios, total cost of ownership models, consumption models, etc.
Understanding of procurement and sourcing processes and practices for the specific categories preferred, demonstrated experience managing large, complex projects and spend categories preferred.
7+ years of negotiating complex SaaS / Software enterprise contracts with Financial Technology (FinTech) vendors either at a global banking institution OR at a FinTech vendor itself (negotiating with banking institutions)
Some knowledge of Capital Markets use-cases – Custody, Payments, Asset Management, Wealth Management
Some knowledge of FinTech landscape including some familiarity with blockchain solutions vendors
Experience working at or negotiating with entities such as FIS Global, Broadridge, BlackRock (Aladdin), SS&C, Charles River, etc.
Requires to be in office 3 days a week
Our Benefits
BNY offers highly competitive compensation, benefits, and wellbeing programs rooted in a strong culture of excellence and our pay-for-performance philosophy. We provide access to flexible global resources and tools for your life’s journey. Focus on your health, foster your personal resilience, and reach your financial goals as a valued member of our team, along with generous paid leaves that can support you and your family through moments that matter.
About Us
For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors throughout the investment lifecycle. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments & safeguards nearly one-fifth of the world's financial assets. BNY Mellon remains one of the safest, most trusted and admired companies. Every day our employees make their mark by helping clients better manage and service their financial assets around the world. Whether providing financial services for institutions, corporations or individual investors, clients count on the people of BNY Mellon across time zones and in 35 countries and more than 100 markets. It's the collective ambition, innovative thinking and exceptionally focused client service paired with a commitment to doing what is right that continues to set us apart. Make your mark: bnymellon.com/careers.
About The Team
Global Operations is a client-service-driven organization whose talented and engaged team is dedicated to providing the most competitive services with the highest standards of ethics, quality and efficiency to our clients worldwide.
Seniority level
Mid-Senior level
Employment type
Full-time
Job function
Purchasing and Supply Chain
Industries
Financial Services
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