Lord Abbett Vendor Management Specialist in Jersey City, New Jersey
In response to the need for agile, scalable infrastructure solutions that enhance organizational information advantage, we have constructed the Digital Services organization. The core areas of Digital Services are Data & Transformation, Technology, and Investment Operations. Collectively, we build and support the infrastructure that enables the day-to-day operations of Lord Abbett. Our focus is to build an efficient and agile platform and provide end users with high quality and readily accessible information that is pertinent to the running of their business.
The Vendor Management team is a critical function for the firm and placed in the Digital Services/Investment Data Integrity department. The mission of the Vendor Management team is to identify and manage firm’s strategic data vendors. This includes (i) creating and managing a robust and transparent process for evaluating and onboarding data vendors with accurate visibility into budget impact (ii) contract management, including negotiations and terminations (iii) proactive review of data usage and related statistics to make better decisions to manage firm’s resources and our strategic relationships with data vendors.
The Vendor Management Specialist role requires management of Market data inventory and invoice processing aside from continuous evaluation of our processes and implementing changes to ensure a robust and transparent vendor management process. This role will be focused on market data vendor relationship management, including evaluation, contract management, onboarding and managing the Client Commission Agreement (CCA)/Commission Sharing Agreement (CSA) process in partnership with key stakeholders in Investments, Legal and Finance teams.
Relationship management for a critical set of market data vendors
Interface with internal user stakeholders and leadership teams across the firm
Reviewing the existing Client Commission Agreement (CCA)/Commission Sharing Agreement (CSA) process, defining and enhancing the future state process in close partnership with key internal stakeholders
MDM inventory management and invoice processing for key relationships
Timely and accurate management of market data related orders, requests, changes
Monthly/periodic market data spend/metric reporting process
Manage Market data invoice processing and expense approval process via Concur
Interface with vendor billing teams for billing issues
Manage procurement process with a focus on market-data solutions
Conduct Vendor analysis to identify and resolve issues pertaining to vendor contract, dates, cost and usage
Ability to establish and maintain positive relations with data suppliers and service providers
Well-developed interpersonal skills and excellent communication skills, both oral and written
Exceptional attention to detail and strong organizational skills
Ability to work independently and make sound decisions
Ability to identify, analyze and resolve problems
General skills in MS Excel for data reporting and spend illustration
5-12 years of industry experience, including experience in vendor and/or relationship management
Budgeting, inventory, and cost-management skills
General knowledge of accounting, finance, marketing, and logistics
Capable of resolving escalated issues arising from operations and requiring coordination with other departments
Knowledge of procurement systems and supply chain best practices and processes
Experience in building and documenting standard operating process for logistics and procurement
Bachelor’s Degree or equivalent required
Preferred background in Market Data services, Accounting, or Finance
Lord Abbett is a leading asset manager serving clients worldwide. Our purpose—securing a sustainable future for our clients, our people, and our world—fuels everything we do. Our clients trust us to manage approximately $250 billion in assets across a diverse set of investment strategies and vehicles. Inspired by our “dream big, work hard, have fun” principle, our people thrive in our vibrant culture and deliver lasting impact to our clients and communities. We are honored to have earned recognition as one of the Best Places to Work in Money Management by Pensions & Investments and scored 100% on the Human Rights Campaign’s Corporate Equality Index, a measure of LGBTQ+ workplace equality.
External Company Name: Lord Abbett.com
External Company URL: www.lordabbett.com