Imported from previous forum
Location: NYC
Salary: 175K to 200K.
Vice President, Business Development
Position Description:
•The candidate will become an integral member of *****’s IT Business Development Team, which is responsible for developing, structuring, negotiating and closing technology deals with third party vendors for *****’s Individual Investor Group.
•The candidate must be a strong deal negotiator and function independently throughout the lifecycle of a deal, collaborating closely with Business Partners, IT, Operations, Legal and Compliance. Initially, the candidate will be a coverage officer for either Retail Operations or Retail Technology Infrastructure, depending on the candidate’s experience and fit.
•The candidate must have significant experience in deal management and be strong in both execution and achieving successful deal closure.
•The candidate should also have an entrepreneurial spirit and the flexibility to adapt as the deal evolves, as well as the ability to follow structured methodologies for deal-making.
•A strong customer focus is also important.
Responsibilities:
•Day-to-day Oversight of Assigned Deals
•Plans and Coordinates All Activities Throughout the Lifecycle of a Deal, from Initial Meetings Through Closing
•Achieves Consensus on Deal Terms with Business Lead/Owner, All IT Areas and Legal/Compliance
•Reviews and Coordinates Input to Legal for All Deal Documents (Term Sheets, Service Agreements and Service Level Agreements) on Behalf of Business Lead/Owners and All IT Areas
•Proactively Identifies and Manages Issues to Resolution Including Appropriate Escalation
•Provides Regular Progress Updates to Business Owners and All IT Areas
•Oversees Development of Deal Updates/Briefing Packs
•Assists in Creating Strategies for Cost Savings, Revenue Growth and Value Enhancement through third party products, strategic alliances, and partnerships, in particular:
o identifying potential vendors and partners
o assisting in financial analysis and modeling including pricing, valuation and financial statement analysis, and structuring transactions
o Assists in integrating information and analysis into actionable verbal and/or written decision frameworks
Skills Required
•8+ years of deal negotiating experience
•Strong transactional experience
•Demonstrated experience in working within formal and informal team environment
•Proven ability to think creatively and strategically while handling difficult and complex issues in a corporate setting
•Demonstrated communication skills (both verbal and written)
•High energy level
•Proven Leadership
•Financial Services experience or strong working knowledge of individual investing
Skills Desired
•IT and/or Operations outsourcing deal experience
Notes from Manager on 10/21:
The manager started this specific function and group 4 years ago when he joined ****. The group has 5 people in it (4 VPs and 1 associate. manager, 2 people covering specific IT, 1 covering sales and one (this position) covering Operations IT. The manager says that senior management has had a strong by in for the lest 2 years or so. There will be almost no travel in the position The position will be staying in Manhattan (not moving to Westchester or Jersey City like some other groups have). This group is responsible for global strategic sourcing; however, 95% of ****'s business in in the US. The position is coming open because the person currently in it is relocating with his family (his wife got a job on the West Coast). He broke down the position into 3 main functions (starting with the most important): 1. Thought Leadership - His group consults the business on what to do, where the market is for products and which companies are best to work with, etc. He wants someone who can regularly meet with high level executives and be an advisor on what their strategy should be. 2. Deal Execution: This part of the job will be 2/3 of the work, but again, is a 2nd in priority in his mind to #1. This includes the usual RFPs, Negotiation, Value for Dollar analysis, working with Legal and Finance. 3. Vendor Management - SLAs Terms, SOW, etc. The three most important things he is looking to find in a candidate are: 1. The ability to be a consultant - He kept going back to this and the “thought leadership” idea. He wants someone who is going to consult the business. Not be an “order taker.” He said that he wants a big picture person. 2. Legal - He himself used to be an attorney. He wants someone who can understand contracts. They have a legal department that they work with but the person in this position should be able to understand some aspects of a contract and be able to answer questions about them. 3. IT. The first major initiative in this position will be working with the business to decide on a “Corporate Actions” software. He doesn’t need a technologist but someone who can understand enough so they can advise on the landscape of the market and understand the intricacies when putting together a deal.