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Market Data and Brokerage Vendor Specialist

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Wealthsimple

7d ago

  • Job
    Full-time
    Senior Level
  • Business, Operations & Strategy
    Banking & Finance
  • Toronto
    Remote
  • Quick Apply

AI generated summary

  • You need expertise in vendor management, contract negotiation, market data budgeting, compliance, data analytics, project management, communication, relationship building, problem-solving, and technical proficiency.
  • You will manage vendor relationships, oversee contracts and invoices, ensure compliance, maintain the budget, and drive process improvements in market data and brokerage operations.

Requirements

  • Vendor Management: Expertise in managing relationships specifically with market data vendors, including exchanges, data distributors, and research providers.
  • Contract Negotiation: Strong ability to negotiate contracts with market data vendors and exchanges, understand key terms, and manage renewals to ensure favorable terms and compliance.
  • Market Data Budgeting: Proficiency in budgeting and financial management specific to market data services, including invoice management and financial forecasting.
  • Exchange Compliance Knowledge: Deep understanding of exchange agreements, reporting requirements, and regulatory landscapes to ensure full compliance with market data regulations.
  • Data Analytics: Strong capability in data analytics focused on market data to analyze quality, usage, audit invoices, and extract actionable insights for performance improvements and strategic decision-making.
  • Project Management: Experience in managing and executing projects related to market data implementation, process improvement, and new system integration.
  • Communication: Excellent verbal and written communication skills to effectively liaise with internal stakeholders, market data vendors, and exchange representatives.
  • Relationship Building: Ability to build and maintain strong working relationships with market data vendors, exchanges, and internal teams to ensure seamless operations and collaboration.
  • Problem-Solving: Strong problem-solving skills to address issues related to market data services, exchange compliance, and operational inefficiencies.
  • Technical Proficiency: Familiarity with order management systems, market data platforms, and tools used by exchanges and vendors to effectively manage and optimize market data operations.

Responsibilities

  • Vendor Management: Establish and maintain a comprehensive inventory of market data and brokerage vendors, including exchanges, data distributors, news and research providers, and other operations vendors as required.
  • Contract and Invoice Management: Oversee the entire lifecycle of vendor contracts, ensure timely renewals, and manage invoice approvals and accuracy.
  • Compliance and Reporting: Develop and implement an annual audit process to ensure compliance with exchange agreements and reporting requirements. Own the quote metering process, perform monthly reporting to vendors and review billing statements for accuracy.
  • Budget Oversight: Own and maintain the market data budget, contributing to process improvements, cost efficiency and standardization initiatives.
  • Client and Vendor Relations: Build strong working relationships with internal stakeholders and external vendors, ensuring service delivery aligns with client expectations and SLAs are met.
  • Process Improvement: Lead initiatives to enhance the efficiency and effectiveness of market data management, including creating and maintaining documentation, and contributing to strategic projects and regulatory commentary.
  • Operational Support: Manage other brokerage vendor relationships as needed, including investment research, platform licenses, and operations tooling.

FAQs

What is the primary role of the Market Data and Brokerage Vendor Specialist at Wealthsimple?

The primary role is to streamline and centralize market data and brokerage vendor operations, oversee vendor management, and ensure compliance with exchange requirements as the company expands its self-directed investment offerings.

What key responsibilities does this position involve?

Key responsibilities include managing vendor relationships, overseeing contract and invoice management, ensuring compliance with exchange agreements, maintaining the market data budget, and leading process improvement initiatives.

What skills are essential for success in this role?

Essential skills include vendor management expertise, strong contract negotiation skills, market data budgeting proficiency, knowledge of exchange compliance, data analytics capabilities, project management experience, excellent communication skills, and problem-solving abilities.

What experience is preferred for applicants to this position?

Candidates should have experience in managing relationships with market data vendors, understanding exchange agreements, and executing projects related to market data management and integration.

What types of vendors will I be managing in this role?

You will manage various vendors, including exchanges, data distributors, research providers, and other operational vendors related to market data and brokerage services.

Are there opportunities for professional development within the company?

Yes, Wealthsimple provides an annual budget of up to $1,500 towards wellness and professional development for employees.

What is Wealthsimple's approach to diversity and inclusion?

Wealthsimple strongly encourages applications from individuals of diverse backgrounds and is committed to building products for a diverse world, ensuring a diverse team to drive success.

What benefits does Wealthsimple offer to employees?

Benefits include a competitive salary, top-tier health benefits, life insurance, retirement savings matching plan, generous vacation days, a wellness days program, and the option to work internationally for up to 90 days per year.

Will remote work be an option for this position?

Yes, Wealthsimple operates as a remote-first team, providing flexibility for employees to work remotely.

How does Wealthsimple support accessibility for candidates?

Wealthsimple aims to provide an accessible candidate experience and encourages individuals needing accommodations to inform them, allowing for necessary support throughout the interview process and beyond.