Junior Category Manager – Market Data Brokerage

Role Summary

The Junior Category Manager supports the Market Data Brokerage vendor category, partnering with business units, sourcing leadership, and vendors to execute sourcing strategies, manage contracts and renewals, and deliver cost, risk, and service outcomes. The role requires sound commercial judgment, strong execution skills, and the ability to operate independently on complex engagements under general direction.

This is an individual contributor role with accountability for defined workstreams and opportunities to represent the category in cross‑functional forums.

Key Responsibilities

Business Partnership

• Partner with internal business units to ensure understanding of Enterprise Market Data sourcing processes, governance requirements, and available services
• Maintain regular engagement with stakeholders to support delivery, issue resolution, and service quality
• Translate business requirements into sourcing and commercial actions aligned with policy and market data licensing frameworks

Vendor & Commercial Management

• Support vendor negotiations, renewals, and commercial reviews within the Market Data Brokerage portfolio
• Analyze pricing structures, fee increases, usage models, and contractual terms to inform recommendations
• Assist in development and execution of category strategies focused on cost control, contractual discipline, and vendor risk management

Execution & Delivery

• Independently manage multiple sourcing and contract activities with financial, vendor, and operational impact
• Coordinate contract lifecycle activities, including amendments, renewals, and new engagements
• Ensure documentation, approvals, and decisions align with enterprise governance and compliance standards

Judgment, Influence & Leadership

• Represent the category in working groups, governance discussions, and selected senior‑level interactions
• Serve as a functional subject matter resource for market data brokerage use cases and vendor commercial models

Quality & Decision Support

• Deliver clear, accurate work products that require minimal revision
• Facilitate structured discussions to support decision‑making across business, sourcing, legal, and compliance partners
• Escalate risks, issues, and trade‑offs appropriately, exercising sound judgment

Knowledge & Competencies

• Strong written and verbal communication skills
• Solid understanding of financial services environments and vendor commercial models
• Working knowledge of sourcing, contract management, and vendor governance processes
• Ability to manage competing priorities in a deadline‑driven environment
• High attention to detail with the ability to synthesize complex information into concise recommendations
• Adaptable to evolving regulatory, commercial, and business requirements

Experience & Qualifications

• Bachelor’s degree or equivalent relevant experience required
• 2+ years of experience in financial services, sourcing, procurement, vendor management, or contract management
• Experience supporting or leading vendor negotiations in complex environments
• Familiarity with market data vendors, brokerage‑related use cases, or data consumption models preferred
• Demonstrated ability to work effectively with legal, compliance, finance, and business stakeholders

Role Characteristics

• Individual contributor role (not a formal people manager)
• High degree of ownership and accountability
• Exposure to senior stakeholders and complex commercial decisions
• Developmental path toward senior category management or strategic sourcing roles

Salary Range:

Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.