As part of CME Group's Data Services team, the Senior Director, Commercial Development will be responsible for all facets of the development and execution of the strategy for how CME Group strengthens its global market data revenue through strategic market data partnerships, non-standard commercial deals, and derived data licensing.
In this role, you will be responsible for the creation and execution of CME's commercial strategy for building new, diversified revenue streams across CME Data Services. This role will lead a global commercial function which executes strategic deals with third-party content providers, distributors, vendors, analytics / Artificial Intelligence (AI) / Machine Learning (ML) service providers and financial product creators which aim to bolster CME's subscription-based revenue, data use, and penetration into new geographies or markets. You will work collaboratively across global product, sales, corporate development, and account management functions, to identify and execute such opportunities.
You will have deep knowledge of how to leverage and grow strategic partner relationships, as well as evaluate and secure new commercial opportunities to achieve business growth goals. You will be recognized as a thought-leader within the organization, with exceptional strategic and analytical acumen relating to business, product, and technical challenges, with the ability to build and convey compelling value propositions, and work cross-organizationally to build consensus. You should also have a deep understanding of what will be needed to properly resource strategic initiatives, and work with stakeholders to develop a plan for ensuring successful execution. A keen sense of ownership, drive, and entrepreneurship is a must.
Further, you will be accountable for leading the global derived data licensing team and accelerating revenue growth across regions while growing CME Group's Derived Data Licensing customer base. In this regard, the position requires an advanced understanding of how financial market data is used to create and develop financial products and services such as Indexes, Structured Products (e.g. ETFs, ETNs, etc.), Contracts for Difference (CFDs), Valuation Services, References etc. as well as the target customer segments that use them. You'll also play the lead role in creating and implementing a vision for customer product innovation, pricing, marketing, and organic and inorganic growth opportunities. Principal Accountabilities
- Works cross-functionally and collaboratively within CME to map core strategic imperatives to a pipeline of third-party commercial and inorganic opportunities designed to enhance CME's data offerings and distribution capabilities.
- Understand the value of CME IP, value to client's products and services in the industry, and those products to CME ecosystem at an expert level
- Oversight of the develop of new index concepts from design to back-testing and implementation.
- Offering advanced knowledge as a subject matter expert of financial product creation based on the use of CME Group market data as well as the targeted customer segments creating these financial products.
- Generating new business and managing the existing customer pipeline while building valuable customer relationships.
- Strategic oversight and active management of Data partnerships with the responsibility of growing the relationship.
- Builds and maintains relationships at the highest decision-making levels within CME, strategic clients, and commercial partners to identify and reconcile strategic imperatives against commercial opportunities which are successfully negotiated and closed.
- Advocates on behalf of strategic clients throughout the organization using cross CME tool creation to track program updates, global virtual team calls, client financials, and progress against goals. Develop and drive strategies that increase firm-wide competitiveness.
- Deploys a global strategic partnership approach that matches the global business of our clients and demonstrates/teaches the value of this concept to the CME and applicable client organizations.
- Evaluating, analyzing, and utilizing all available/applicable information to improve/optimize strategic decision making.
- Applies comprehensive understanding of industry issues, client trends, and technological disruption to advise on the future direction of CME Group's commercial market data and strategies.
- Demonstrated ability to interact effectively with senior level executives and boards of directors.
- Well-developed networking and relationship building skills, complemented by negotiating acumen and sound business judgment.
- Building strategic product partnerships designed to enhance our data offerings and distribution capabilities.
- 10+ years working with offices of senior management and of financial industry market data management, data licensing, and/or deep knowledge and experience in financial product and index creation.
- Strong knowledge of exchange (Derivatives or F&O), index provider or information vendor real-time, end of day and derived data policies
- Proven track-record in building and executing commercial strategies leading to new revenue generation across global market data and content distribution businesses in a sales or product capacity.
- Strong background in leading global or international commercial teams/functions to meet and exceed business objectives across market data or technology product portfolios.
- Extensive experience working with market participants at all levels including relationships with major exchanges and trading venues, data and analytics service providers, asset managers and/or banks to facilitate their understanding of the application of market data products to their trading, business, investment and risk management needs.
- Deep knowledge of and relationships with data consumer and data vendor firms globally, including (but not limited to) major and niche information vendors, investment banks, online trading platforms, high frequency and proprietary trading firms.
- Maintains a keen sense of business acumen and demonstrates advanced negotiating skills with the ability to navigate challenging engagements with customers and to come to mutually acceptable outcomes while preserving or even enhancing the customer relationship.
- Must have the ability to influence and inspire colleagues through his or her vision and convert this "buy in" into value adding changes to existing products and improved client service. Must be able to work with other senior leaders throughout the organization.
- A strong relationship builder who is clear in articulating the values, expectations and polices of CME Group is essential to the function.
- Strong teamwork skills, with a demonstrated ability to interact effectively across organizations. Works towards cultivation of a culture that encourages open communication, cooperation and the sharing of information.
- The candidate will be required to regularly interact with external customers and service providers up to and including C-level.
- Bachelor's Degree (or equivalent) with advanced degree preferred.
CME Group: Where Futures Are Made
CME Group (www.cmegroup.com) is the world's leading derivatives marketplace. But who we are goes deeper than that. Here, you can impact markets worldwide. Transform industries. And build a career shaping tomorrow. We invest in your success and you own it, all while working alongside a team of leading experts who inspire you in ways big and small. Joining our company gives you the opportunity to make a difference in global financial markets every day, whether you work on our industry-leading technology and risk management services, our benchmark products or in a corporate services area that helps us serve our customers better. With 3,500 employees located around the world, we're small enough for you and your contributions to be known. But big enough for your ideas to make an impact. The pace is dynamic, the work is unlike any other firm in the business, and the possibilities are endless. Problem solvers, difference makers, trailblazers. Those are our people. And we're looking for more.
This position requires that you be fully vaccinated against COVID-19 by the date of hire. Proof of vaccination will be required as a condition of employment. CME Group complies with federal, state and local laws with respect to providing accommodations for individuals who are unable to receive the vaccine due to a medical condition or religious belief.