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Fidelity Bank · 1 month ago

Vice President, Business Contracts- Retirement Services

Covington, KY

Full-time

Hybrid

Senior Level, Lead/Staff

10+ years exp

Fidelity Bank is a prominent financial institution, and they are seeking a Vice President of Business Contracts in their Retirement Services division. This role involves developing strong relationships with institutional clients and managing the negotiation of business contracts to ensure a positive experience for clients during the contracting process.

BankingBitcoinCustomer ServiceFinancial ServicesInsuranceWealth 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

Qualification

Relationship ManagementContract NegotiationBenefits OutsourcingProject ManagementFidelity Product KnowledgeCommunication SkillsTeam AttitudeAttention to DetailFacilitation SkillsProblem SolvingFlexibility

Required

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)