A career at T. Rowe Price says you want to contribute and make a difference at a leading global investment management firm where success results from the dedication our associates have in building success for our clients. We are a growing organization of associates from diverse backgrounds, experiences, and perspectives. We take a long-term view on associates and their careers. Our associates do phenomenal work with purpose, and as a result, we provide growth opportunities through in-person and online training, management development programs, and career development on the job. If you are seeking a meaningful work experience along with a workplace culture that thrives on teamwork, we invite you to explore the opportunity to join us.
POSITION PURPOSE
This position provides the strategic oversight, cross-departmental and cross-divisional coordination needed to manage all aspects of global external research provider relationships, third-party research and data vendor services. Manages, develops, negotiates and influences business relationships with all the sell-side brokerage firms and outside research providers servicing T. Rowe Price (TRP) investment professionals. Provides oversight and management of periodic research voting process including hard dollar research service, payments, global research commission allocations and research commission reporting processes and global investment's compliance with policies and practices and other brokerage related regulatory guidelines.
PRINCIPAL RESPONSIBILITIES
- Identify, develop and execute the long-term strategic goals pertaining external research services and partner with investment management, legal and compliance to ensure we are compliant with regional governing regulatory entities.
- Oversee financial and contractual agreements with numerous external brokers and research providers/vendors. Work closely with the investment staff to manage expectations and determine their investment needs/requirements.
- Conduct pricing and service analysis by gathering necessary market data in order to represent TRP appropriately and competitively in all external financial negotiations. Develop the cost benefit analysis, business justification and senior management justification to support procurement of independent third-party research services.
- The position is accountable to Global Head of External Research Services for divisional budget (including variance analysis and forecasts) pertaining to research, market data and related services.
- Actively involved with making decisions related to global investment platform payments (i.e. targets) and policy. Develop and manage the long-term business relationships/partnerships with all of investments sell-side brokers and research providers/vendors.
- Regularly negotiate and manage service level issues and compensation expectations, many of which involve high profile and senior level individuals at the respective firms. Frequently involved with issue and conflict resolution and problem-solving.
- Regularly conduct relationship management meetings with senior sales representatives from the respective firms. Identify and evaluate opportunities where TRP and its clients could directly benefit from increased exposure or access to new independent research and/or market data and trading tools.
- Serves as an internal subject matter expert for the firm for third-party research. Involves communications and interactions regarding policy and process with various internal business units across multiple divisions.
- Assists with developing the appropriate responses/disclosures related to client questionnaires and Board of Directors requests. Directly assists legal with evaluating potential compliance issues and/or regulatory matters and associated business implications and will periodically serve as a client-facing Subject Matter Expert for Legal, Marketing, Client Ops and Global Trading.
- Updates and advises senior management on on-going initiatives and potential issues to be addressed and discussed. The position is directly accountable to the Global Head of External Research Services and Chairman of the Research Governance Oversight Committee
- Contribute to the on-going development of a strong working knowledge and awareness within investments of the complexities and risks associated with the external research providers and research services environment and rapidly changing landscape and practices, including increasing and more complex requests from external sources (e.g., clients/prospects, Boards, regulators, etc.).
- Proactively analyze and interpret complex financial and industry data and variances in order to identify trends and/or problems and implement business solutions. Leads various multi-phased project initiatives across business units which involve strong business analysis skills together with business process knowledge in order to recommend and develop solutions.
- Work with compliance and investments to perform new vendor due diligence and regular due diligence updates with existing research providers.
- Oversight of the semiannual Broker vote and post vote observations and analytics.
- Willingness to regularly travel throughout the Asian region and our head office in Baltimore.
PERSONAL ATTRIBUTES / SKILLS / QUALIFICATIONS
- Academic excellence
- Minimum of 7 years of related work experience from an asset management or investment banking background
- Background in institutional relationship management would be an advantage. We would also consider candidates with sales trading experience
- Solid understanding of the regulatory environment including MiFID II
- Specialized knowledge of the broker vote process and how it impacts investment service for buy-side firms
- High level of analytical skills
- Proven relationship management skills
- Negotiation skills
- Ability to interpret large datasets; and use that data to design and support decisions
- Ability to draw logical conclusions from sometimes conflicting data sets
- Ability to solve complex issues
T. Rowe Price is an equal opportunity employer and values diversity of thought, gender, and race. We believe our continued success depends upon the equal treatment of all associates and applicants for employment without discrimination on the basis of race, religion, creed, colour, national origin, sex, gender, age, mental or physical disability, marital status, sexual orientation, gender identity or expression, citizenship status, military or veteran status, pregnancy, or any other classification protected by country, federal, state, or local law. |
