Job Information
T. Rowe Price Sr. Manager, Service Provider Management in Owings Mills, Maryland
There is a place for you at T. Rowe Price to grow, contribute, learn, and make a difference. We are a premier asset manager focused on delivering global investment management excellence and retirement services that investors can rely on today and in the future. The work we do matters. We invite you to explore the opportunity to join us and grow your career with us.
About The Role:
The Sr. Manager, Service Provider Management for Global Investment Operations has responsibility for management of one or more critical service provider relationships that provide the record keeping, investment middle office, clearing, accounting, and related services that are fundamental to the operations of our business.
The Sr. Manager builds and maintains long-term relationships with our service providers and internal stakeholders including procurement, risk, product, and other Global Investment Operations teams including Middle Office and Accounting. This role manages key aspects of the vendor lifecycle to help minimize risk to the firm and is responsible for ensuring provider compliance with contractual, financial and performance obligations and requirements.
The Sr. Manager must understand the strategic initiatives of the firm, understand the capabilities of our vendors, and ensure that we are leveraging these vendors to best meet the firm’s goals and objectives. The Sr. Manager serves as an escalation point for our functional teams.
As part of the GIO - Shared Services Team, the Sr. Manager will report to the Director, Service Provider Management and will represent Investment Operations and the firm in key initiatives and vendor forums.
Role Summary:
Supports the effectiveness of the risk function within Global Investment Operations. Applies advanced understanding for the service provider oversight program for assigned vendor(s). Contributes to program strategy and develops and implements the program's governance model and various processes around service-level agreements, request for proposal assessments, performance monitoring, due diligence, provider audits, and transition plans. Designs evaluation methods/criteria for service provider capabilities; facilitates the evaluation and selection of service providers. Typically has direct accountability for complex vendors and/or portfolios requiring significant organization spend.
Responsibilities:
Serves as the primary knowledge base on vendor’s product/service portfolio for the firm.
Coordinates and assists in establishing overall provider governance and interaction program.
Facilitates strategic alignment between T. Rowe Price and service provider.
Prepares regular reports on the overall status of the relationship and performance against agreed service levels; presents to senior management, firm, and high-level governing bodies such as product Boards, the treasurer for the T. Rowe Price mutual funds, the firm’s chief compliance officer, etc.
Leads contract and fee schedule negotiations for new services, new products, renewals etc.; coordinates support from legal and procurement.
Acts as a senior-level escalation point for unresolved issues across all services provided.
Convenes and leads relationship governance reviews and committees.
Leads the negotiation and implementation of detailed service level agreements (SLAs), and monitors ongoing adherence to the terms of such agreements. Leads periodic reviews of the SLAs and updates as required.
Leads regular on-site due diligence, including observation, validation and re-performance of contracted functions following a risk-based approach
Typical Qualifications:
Bachelor's degree or the equivalent combination of education and relevant experience AND
8+ years of total relevant work experience
Excellent communication & relationship management skills
Preferred Qualifications:
Prior Investment Operations, Middle Office, or Back Office experience at a large asset manager
Demonstrated ability to establish and maintain strong working partnerships through well-honed interpersonal skills, Inclusive mindset
Demonstrated successful experience in vendor management activities: identification, selection, negotiation, contracting, risk management, relationship management, financial management, performance management and contract management, preferably in financial services or with large global banks.
ETF and hedge fund experience a plus
FINRA Requirements : FINRA licenses are not required and will not be supported for this role.
Work Flexibility: This role is eligible for remote work up to two days a week.
Commitment to Diversity, Equity, and Inclusion:
We strive for equity, equality, and opportunity for all associates. When we embrace the power of diversity and create an environment where people can bring their authentic and best selves to work, our firm is stronger, and we create greater value for our clients. Our commitment and inclusive programming aim to lift the experience for each associate and builds allies for our global associate community. We know that a sense of belonging is key not only to your success at the firm, but also to your ability to bring your best each day.
Benefits: We invest in our people through a wide range of programs and benefits, including:
Competitive pay and bonuses as well as a generous retirement plan and employee stock purchase plan with matching contributions
Flexible and remote work opportunities
Health care benefits (medical, dental, vision)
Tuition assistance
Wellness programs (fitness reimbursement, Employee Assistance Program)
Our policies may change as our working lives evolve. Yet, our commitment to supporting our associates’ well-being and addressing the needs of our clients, business, and communities is unwavering.
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, color, 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.
T. Rowe Price is an asset management firm focused on delivering global investment management excellence and retirement services that investors can rely on–now, and over the long term.
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