VP - Business Development

Date posted:

Department:

Investment/Insurance

Location:

Long Island City (HQ) - Queens, NY

Description:

POSITION PURPOSE
The VP – Business Development, under the direction of the CBDO, manages new strategic business opportunities, initiatives, partnerships and alliances, as well as the identification of solutions to fulfill member needs. The VP - Business Development contributes to UNFCU’s business development activities related to leveraging the alternative path to membership and increasing penetration of targeted segments.

NATURE AND SCOPE
This position reports to the Chief Business Development Officer. Reporting to this role (in the future) is the position of Relationship Manager.

The VP – Business Development will partner with Corporate Marketing, as well as key stakeholders in Lending and Retail Services, on alignment with business development initiatives. With an ever-changing competitive marketplace, the incumbent is challenged to stay abreast of the global environment in which UNFCU operates and ensure effective mobilization of resources.

This position keeps management informed of the local market conditions and makes recommendations for business development.

The activities managed by the VP – Business Development are critical to the overall growth and profitability of UNFCU. The Vice President – Business Development will have direct impact on new member growth/penetration in target markets, share of wallet, and alternative paths to membership.

Accountabilities:

Provides cross-functional departments with new business needs in the areas of marketing, pricing, product management, credit, member service and logistical support.
Prepares and conducts sales presentations to targeted audiences for business development, corporate level product presentations and international sales presentations to target sponsor organizations and staff.
Targets accounts, and solicits and develops contacts at the local level from the existing and prospective customer base, for relationship management and cultivation.
Assists in developing corporate and functional teams to secure strategic business as needed.
Manages key strategic business relationship activities for identified business opportunities.
Analyzes market data to identify trends/opportunities, develops strategic direction from market information, and creates compelling market analysis presentations.
Works on new business planning to provide current status of account acquisition strategy including account profiling, competitive analysis, financial/risk analysis, program development, negotiation and contracts.
Works closely with both field and headquarters sales management to achieve performance and member satisfaction.
Reviews and renegotiates sales contracts and partnerships, and ensures conformation to UNFCU’s requirements.
Develops and maintains relationships with key individuals in various organizations, agencies, affiliates and channels in order to facilitate business development.
Prepares research and studies on competition, potential markets, products, etc, in Europe and in other identified markets. Conducts business development meetings with key UN contacts to promote the Credit Union. Increases UNFCU’s market share by organizing and making presentations and executing marketing and promotional activities in identified markets.

Qualifications:

An incumbent in this position must possess the ability to communicate effectively and persuasively. Incumbent should have a broad base of knowledge business development strategies and tactics, with a track record of sustaining close relationships with internal and external business partners and success in growing revenues for multiple practice areas.

An incumbent in this position must possess a full range of management experience as well as the skills and abilities to fulfill the accountabilities described in this document. A typical pathway to obtaining the requisite knowledge and skills is graduation from a university, and 10 years of progressive financial services experience in a service/sales or marketing role (preferably in a local retail bank environment), including at least 5 years of management experience. Must possess knowledge of financial products and services and possess a sales and service orientation.

Incumbent must demonstrate excellent interpersonal skills, tact and diplomacy. Incumbent must possess excellent oral and written communication skills in English and possess the ability to make effective presentations to small and large groups. Good research and analytic skills are required. Multi-lingual oral and written communication skills in two or more languages (English, French, Spanish and Italian) preferred.