Market Data Analyst will Act as the first port of call for evaluating, prospecting and introducing all new market data services and checking their compatibility and viability for our client.
- Challenge all requests for services and ensure that existing services continue to meet current business requirements at lowest implementation and ongoing operational costs.
- Define, document and constantly monitor and update user profiles.
- Act as the central point of contact between the vendors and the business to ensure that training on product usage is controlled and there is no direct solicitation for trials of new products or services without the prior knowledge and agreement of the Bank.
- Proactively investigate and satisfactorily resolve market data queries and issues to ensure all data provided to users and applications are validated, including liaising with external data vendors on quality and services issues.
- Usage and Monitoring
- Proactively monitor usage of Market Data products, services and data to ensure optimal usage and cost control.
- Use all appropriate monitoring tools available such as MMG and DACS.
- Based on usage provide details and examples of better and cheaper alternatives and implement, where appropriate.
- Report on utilization of services, highlight low usage services and opportunities to reduce cost and implement, where feasible. Liaison with vendors/suppliers to retrieve usage statistics not available in-house.
- Occasionally research and support implementation / replacement of monitoring tools to reduce TCOs.
- Vendor/supplier management: to ensure that products are used effectively and that appropriate products are used at optimal price point.
- Organize and deliver training sessions to ensure best use of Market Data services.
- Ensure Market Data services are used in line with the vendors’ (and the bank’s) usage policies and contracts.
- Highlight any non-compliant usage and suggest and implement compliant alternatives.
- Work in close relationship with Compliance to ensure proper use of data and services and to create education packs, where appropriate.
- On-going monitoring and review of existing and potential market data vendors to ensure optimum cost-benefit market data providers are identified.
- Research the market, keep up with market trends and report relevant findings to client
- Conduct market analysis from a content and technical perspective.
- Continually assess/analyze value of agreements; understand license models to gain maximum value from contracts.
- Ongoing product assessment and suitability reviews. Challenge all existing services to identify opportunities for product replacements, displacement and downgrades.
- Once identified, agree with users / applications on cost saving measures and manage the respective migration projects.
- Analysts to support projects in developing Applications with their knowledge, analysis on cost or license Management and also advice on cost reduction and commercials.
- Ensure products and services are aligned to the business strategy.
- Proactively work with the external Vendors to ensure that development of products is in line with the Banks future requirements.
- Provide support to Procurement colleagues in negotiations.
- Participate in discussions with external organizations such as IPUG, to ensure the Bank keeps track with industry discussions on products and best practices.
- Provide statistics information necessary for benchmarking exercises, if suitable.
- Working closely with all stakeholders to discuss analysis of data consumption, discuss any cost saving opportunities, product coverage, define requirements, and provide feedback, recommendations and advice.
- Define and ensure cost reporting for the stakeholders (business, finance, management) on a regular basis.
- Provide cost trend analysis and reports on KPIs, cost allocation and service usage to meet requirements of all stakeholders.
- Assist to constantly monitor and control costs with the primary objective to achieve cost savings.
- Ensure cost approvals are in place for any and all spend., i.e. to collect cost approvals for all new services/permissions and re-approvals for all existing on a regular basis.
- Manage trials of alternative / new products to ensure they are comprehensively tested and gaps in functionality or data are fed back to the Vendors.
- Provide analysis and feedback issues to Administration to ensure consistency and integrity of the data held in MDM inventory management.
Basic Competencies:
- Deep understanding of Financial Markets and Financial Products
- Proficient in MS Office (Excel / Word / PowerPoint)
