Senior Spend Data Analyst

Business Unit:Global Sourcing & Corporate Services

Reporting To:Senior Manager, Sourcing and Procurement

Shift:EMEA (1:30 pm – 10:30 pm IST) (India)About Russell Investments, Mumbai: 

Russell Investments is a leading outsourced financial partner and global investment solutions firm providing a wide range of investment capabilities to institutional investors, financial intermediaries, and individual investors around the world. Building on an 88-year legacy of continuous innovation to deliver exceptional value to clients, Russell Investments works every day to improve the financial security of its clients. The firm has over $1 trillion in assets under advisement (as of December 31, 2023) and $302.7 billion in assets under management (as of March 31, 2024). Headquartered in Seattle, Washington in the United States, Russell Investments has offices around the world, including London, New York, Toronto, Sydney, Tokyo, Shanghai, and Mumbai.

Joining the Mumbai office is an incredible opportunity to work closely with global stakeholders to support the technology and infrastructure that drives the investment and trading processes of a globally recognized asset management firm. Be part of the team based out of Goregaon (East) and contribute to the foundation and culture of the firm’s growing operations in India. The Mumbai office operates with varying shifts to accommodate time zones around the world.

For more information, please visit https://www.russellinvestments.com.

Job Description:

As a Spend Data Analyst, you will be responsible for collecting, analyzing, and interpreting data related to the spending activities of the organization. Your primary objective will be to build and maintain an accurate, comprehensive, and up-to-date spend analytics program for supplier spend across the enterprise to support identification of savings opportunities, supplier negotiations, and spend and savings reporting. You will also identify trends, patterns, and opportunities to optimize spending, reduce costs, and improve overall efficiency. This role requires strong analytical skills, attention to detail, and the ability to communicate findings effectively to stakeholders across various departments, with Global Sourcing & Procurement and the Director of Money Manager Program operating as your main internal clients.

Years of Experience

5 years of proven experience in data analysis, preferably in a financial or procurement-related role.

Qualifications

Bachelor’s degree in Finance, Accounting, Business Administration, Economics, or related field.

Special Requirements

Proficiency in data manipulation and analysis tools such as Adobe Workfront, Excel, SQL, Python, Tableau, PowerBI or similar is strongly preferred.

Responsibilities

 Data Collection and Management:

• Collect, normalize, tag/categorize, and organize data related to spending activities from various sources including financial records, procurement systems, suppliers, invoices, and other relevant databases.
• Leverage Supplier.io or other sources to ensure any diverse spend classifications are tracked by supplier.
• Ensure data accuracy, completeness, and consistency by conducting regular audits and reconciliations.
• Build a database of spend with at least five years of history; continue to update on a regular cadence (monthly, quarterly, and/or annually)

Data Analysis and Interpretation:

• Utilize analytical tools and techniques to analyze spending data and identify trends, patterns, and anomalies.
• Conduct detailed cost breakdowns and variance analysis to understand the drivers of spending and identify areas for improvement.
• Generate insights and actionable recommendations based on data analysis to support decision-making processes.
• Track and support any supplier spend characteristics related to GHG Scope 1, 2, and 3 reporting.

Performance Monitoring and Reporting:

• Develop and maintain dashboards, reports, and KPIs to monitor spending performance against targets and benchmarks.
• Provide regular updates to stakeholders on spending trends, cost-saving initiatives, and other relevant metrics.
• Collaborate with cross-functional teams to develop customized reports and analyses to meet specific business needs.

Cost Optimization and Efficiency Improvement:

• Provide spend analysis across suppliers, products, and/or categories as part of pre-sourcing strategy development. Work closely with procurement and finance teams to identify opportunities for cost reduction and efficiency improvement.
• Recommend process improvements and best practices to streamline spending processes and reduce waste.

Forecasting and Budgeting Support:

• Lead or assist in the development of spending forecasts and budgets based on historical data and future projections.
• Provide insights and recommendations to help optimize budget allocation and resource utilization.

Continuous Improvement and Innovation:

• Stay up-to-date with industry trends, best practices, and emerging technologies related to spend analytics.
• Identify opportunities for process automation, data visualization, and other innovative solutions to enhance the effectiveness of spend analysis efforts.

Candidate Requirements

• Strong quantitative and analytical skills with the ability to translate complex data into actionable insights.
• Excellent communication and presentation skills with the ability to convey technical information to non-technical stakeholders.
• Detail-oriented with a focus on data accuracy and quality.
• Ability to work independently and collaboratively in a fast-paced environment, managing multiple priorities effectively.