VP of Business Development
Company: IT Services, Chesterfield, MO
Posted on: February 14, 2019
The VP of Business Development has overall executive management responsibility for the business development function, including sales and marketing. The VP of Business Development is responsible for the formulation and execution of comprehensive strategies that drive the top line growth. This includes oversight for business planning, forecasting, and guidance in insurance industry affairs. REQUIRED RESPONSIBILITIES Strategic Direction Actively participate in and contribute to Leadership Team planning sessions for prospective and out-year financial & strategic goals. Provide high-level leadership, expertise and guidance in the business development functions; drive efficiency and innovation in all department sales and marketing activities. Participate as a member of the leadership team in the development of strategies; including making critical decisions affecting risk, profitability and growth as pertains to sales and marketing. Responsible for the oversight and creation of business development tactics to support the value proposition. Process Management Responsible for the development, execution, and monitoring of sales action plans to achieve targeted growth, retention, and profitability goals. Oversee the identification, acquisition, and retention of quality, profitable business. Drive the research and identification of high quality prospective accounts that meet MEC’s risk/reward profile to create and maintain a perpetual pipeline of qualified prospects. Lead the assessment and implementation of ongoing process improvements in the sales and marketing departments as technologies and business models evolve. Maintain and innovate technical resources and controls that support professional business development performance. Assist teams, when necessary, with gathering information needed to accurately evaluate performance and exposure of accounts. Ensure sales staff appropriately utilizes budget dollars for travel, entertainment, etc. Relationship Management Develop and implement business development processes and procedures which meet the needs of MEC, customers, regulatory requirement, and audit controls. Establish the organizational structure, environment, and accountability of the sales operations in order to deliver services to the business. Develop and manage relationships with key production sources, including account contacts, brokers, program management staff, and other Company companies in line with company policies and guidelines. Maintain visibility in the marketplace while expertly and professionally representing MEC. Hold planning discussions with appropriate department heads to understand each department’s long-term plans and revise understanding as needed. Employee Performance & Development Manage staffing levels, analyze talent and ensure the department possesses the capabilities necessary to meet the needs of the organization and clients, development of employee knowledge, skills and abilities, and communicate standards of performance. Identify employees for promotional opportunities and create development plans to prepare them for their next step within the organization. Ensure high level of teamwork, mutual respect, and customer service mindset exists within the team. Ensure department is well informed of business matters consistent with MEC culture. Resolve performance issues consistent with company policy. Ensure compliance with company policies by all staff members. Perform appropriate analysis and take action when deviations are observed from expectations. Qualifications B.A. or B.S. degree in business or similar field. 10+ years of sales and marketing experience in the workers’ compensation insurance industry. 5+ years managing technical staff. Ability to problem solve and make critical decisions in a timely manner. Ability to handle ambiguity and changing environments. Action-oriented.
Keywords: IT Services, Chesterfield, MO, Chesterfield , VP of Business Development, Executive , Chesterfield, Missouri
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