Hybrid Vice President, Business Contracts – Retirement Services

at skillventory - A Leading Talent Research Firm

• Job title: Vice President, Business Contracts – Retirement Services
• Job type: Full Time
• Experience level: Lead
• Salary: Not specified
• Degree requirement: Bachelor's Degree
• Location requirements: Hybrid, Smithfield, United States

About the role

• Vice President, Business Contracts managing institutional client negotiations and contract processes at Fidelity. Overseeing contract compliance and strategy with a focus on relationship management.

Responsibilities

• Serving as the primary point of contact, both internally and externally, to manage business negotiations and contract processes with clients, external search consultants, procurement, and legal counsel
• Responsible for oversight of the contract process for new business and renewals, ensuring completion within required deadlines
• Strategize with Managing Director (MD) on client renewal and with Account Executives (AE) on new sales opportunities
• Initiating and facilitate renewal kick-off meetings to confirm renewal timeline, strategy, deliverables, and business owners
• Consulting with the Sales team, Rebid team, or Managing Director in the development of business issue contract documentation
• Working collaboratively with clients, Fidelity Contracts Team and internal business partners during contract negotiations in order to develop creative, flexible and integrated contract solutions in support of relationship management goals.
• Mitigate contractual risk to the firm while maintaining overall client satisfaction with contracting process
• Overall responsibility for the development, negotiation and final business documentation for the contract Agreement between Fidelity and our customers
• Seeking solutions for service delivery & performance guarantees based on client requests during the contract process
• Understanding of Fidelity pricing models and fee levers
• Facilitating debrief meeting with stakeholders (formal hand-off to the team)
• Responsible for all contract deal tracking and reporting within Salesforce
• Ensuring contract decisions are supported by standard or approved exceptions for service model, SLAs, pricing, and terms
• Overall responsibility for resolving business related issues throughout the negotiation process
• Overall responsibility for the development, negotiation and final business documentation for the contract
• Managing the escalation process
• Providing periodic updates on relevant topics and contract trends to senior management.
• Identify areas for contract process improvement or redesign and work to implement changes.

Requirements

• College degree preferred
• 10+ years of Relationship Management, Client Service, Implementation Project Management experience; preferably within Retirement/401K/Benefits industry.
• FINRA SIE, Series 7, and 63 required; may be obtained in role
• Extensive benefits/outsourcing experience with a strong knowledge of Fidelity contract provisions
• Understanding of exception management processes and overall contract negotiation strategy/techniques
• Ability to build effective relationships, influence outcomes and drive decisions with key senior internal and external executives
• Proven capability to deliver to tight timeframes and be successful in fast moving environments
• Outstanding oral and written presentation skills
• Strong communication and facilitation skills with ability to describe and solve complex issues using clear, simple terms
• Outstanding meeting facilitation and management skills
• Maintains a solid working knowledge or understanding of the Fidelity organization and Fidelity’s vast array of products, services, business solutions and structure
• Comprehensive project management skills
• Strong attention to detail and organizational skills
• Flexibility and positive Team attitude
• Product domain knowledge and expertise (e.g., Defined Contribution, Defined Benefit, Health and Welfare)

Benefits

• Health insurance
• 401(k) matching