Associate, MDS Solutions

Job Description

What is the opportunity?

The global Market Data Services team consists of three sub-groups (MDS Administration, MDS Solutions and MDS Compliance) who engage, strategize and support enterprise-wide businesses and stakeholders.

This role in the MDS Solutions team is responsible for the sourcing, contract managing and optimizing of market data for the firm.  You will engage, strategize and support enterprise-wide businesses and stakeholders; and partner with technology and operations professionals providing expertise on market data service options, sources and suppliers. Your responsibilities span across technical and strategic functions, especially when it comes to risk mitigation, compliance, and analytics.

What will you do?

Contract Management

• Timely manage market data related contracts and negotiate optimal terms and fees, increasing savings and cost avoidance goals.

Business Support

• Provide market data solutions to all levels of business ranging from front office to back office.

• Act as a subject matter expert on data entitlements, usage policies, vendor guidelines and industry standards

• Drive cost optimization initiatives through vendor rationalization, contract restructuring and usage audits.

Supplier Management/Vendor Engagement

• Manage market data supplier relationships & partnerships

• Engage with market data suppliers on a regular basis to review market data requirements, issues, changes, updates, etc.

• Coordinate meetings and/or be an escalation point for market data suppliers

• Ensure all market data suppliers adhere to RBC supplier management standards and business continuity requirements; also ensuring all documents and related internal systems are updated accordingly; can involve working with various internal groups (i.e., Legal, Finance, Functions, etc.)

Product Research/Industry Intelligence

• Seek out market data sources and solutions for RBC business requirements.

• Research industry trends and provide guidance on alternative services or changes impacting market data.

• Participate in industry forums and working groups.

• Evaluate and review new market data products, providing recommendations on services or strategies for RBC Enterprise

Analytics/Reporting

• Produce ad-hoc and re-curing detailed reports and/or presentation decks with valued added commentary and analysis on market data spend, trends, and key updates.

What you need to succeed?

Must Have:

• Understanding of market data types:  Real-time, reference, pricing, index, alternative data, ESG, etc

• Familiarity with market data vendors:  Bloomberg, Refinitiv, ICE, S&P, Moody's, etc

• Procurement process knowledge:  Familiarity with vendor selection and internal approval workflows

• Data strategy development skills:  Align data acquisition with business needs and strategic goals

• Strong verbal and written communications skills

• Attention to detail

• Problem solving capabilities:  Demonstrate ownership and critical thinking resulting in practical solutions

• Business partnering capabilities:  Work closely with front office, risk, compliance, technology and legal teams

• Vendor relationship management skills:  Handle escalations, regular business reviews and joint planning sessions; manage multiple vendor relationships simultaneously

• Strategic contract negotiation skills:  Ability to negotiate pricing, terms and termination clauses

• BA degree ­or 5+ years of experience in a relevant field

• Previous financial institution or equivalent vendor-side experience

Nice to have:

• Extensive knowledge of market data vendors and products (i.e., Bloomberg, Refinitiv, ICE, S&P, Moody's, etc.)

• Proficiency with inventory management tools:  Proficiency in platforms like MDSL/Calero, TRG FITS or internal tooling.

• Ability to optimize initiatives:  Rationalize inventory and reduce redundancy

• Experience with licensing & usage rights:  Awareness of data entitlements and distribution rules

• Experience working for a major financial institution or large buy/sell-side firm

• Proficient in reporting & analysis:  Track spend, usage, and contracts; produce dashboards and executive level summaries

• High level understanding of BI tools (Tableau, QlikView, etc.)

What's in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program include competitive compensation and flexible benefits, such as 401(k) program with company-matching contributions, health, dental, vision, life, disability insurance, and paid-time off.

• Leaders who support your development through coaching and managing opportunities.

• Ability to make a difference and lasting impact.

• Work in a dynamic, collaborative, progressive, and high-performing team.

• Opportunities to do challenging work.

• Opportunities to build close relationships with clients.

Job Skills

Critical Thinking, Data Administration, Data Mining, Data Modeling, Data Movement, Detail-Oriented, Group Problem Solving, Quantitative Research, Research Documents

Additional Job Details

Address:

RBC CENTRE, 155 WELLINGTON ST W:TORONTO

City:

Toronto

Country:

Canada

Work hours/week:

Employment Type:

Full time

Platform:

CAPITAL MARKETS

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

Application Deadline:

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Inclusion and Equal Opportunity Employment

At RBC, we believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.

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