SVP, Business Development, Workplace at Morningstar
The Team: The Global Retirement & Workplace segment focuses on helping individuals achieve better outcomes by working with institutional clients in the defined contribution and workplace markets. This is a high growth area for Morningstar and houses a diverse product suite and unique client base. By constantly evolving our solutions and solving our client's problems, we believe we are positioned well for continued future growth. In order to strengthen our position in the market, help more individuals become financially secure and grow our overall business we believe an added focus on our recently launched lifetime index funds and our custom models service is needed.
The Role: We are seeking a senior business development sales person to identify and sell to the appropriate market within the plan sponsor community for our lifetime index funds and custom models service. The successful candidate will be responsible for developing a deep understanding of our lifetime index fund product and custom models service as well as cultivate a successful product and sales approach to bring these products and services to plan sponsor clients. This person will need to understand our product offerings and effectively communicate our investment solutions, methodologies and performance to DC consultants and large plan
sponsors. He/she will work in close collaboration with product and solutions, other business development personnel, index group, large plan market practice, head of consultant relations, and the legal and compliance teams to ensure a high level of sales quality to large plan sponsors.
- Identify, facilitate, develop and cultivate strong relationships with DC plan consultants and retirement plan advisors (large plan focused); develop a deep understanding of their business priorities, key responsibilities, product needs, goals and overall mission.
- Determine specific plan sponsors with DC retirement plans that are strong candidates for the target date funds or our custom models service.
- Help the Workplace product owners identify and define the specific product enhancements and services that would meet the needs of large DC retirement plan sponsors.
- Partner with UBS to market and sell the target date funds into new markets for new DC plan sponsors.
- Maintain a relationship with existing target date funds plan sponsors in order to build on the existing relationship and potentially leverage for referrals to use with other plan sponsors.
- Work with head of consultant relations, to differentiate service and sales efforts for larger plan sponsors and their consultant.
- Interact extensively with the investment product manager for custom models and the lifetime index funds to foster leads, contribute to product marketing collateral, and establish sales support materials.
- Achieve sales targets and position goals on an annual basis.
- Support cross functional lifetime index team, including MIM, Indexes, Profiles, Data and Workplace.
- Introduce other Workplace products and services to DC plan sponsors.
- Stay up-to-date on competitor activity, defined contribution industry trends and issues with respect to retirement plan sponsors, and proactively disseminate Morningstar's latest research to ensure large plan sponsors consider Morningstar as thought leaders in the defined contribution and workplace space.
- Established credibility and strong reputation as a trusted resource within the DC retirement plan sponsor community.
- Understanding of complex products and financial instruments, investment processes, distribution, operations and compliance.
- Ability to understand sophisticated plan sponsors and investment committees, provide comprehensive target date solutions and effectively communicate complex strategies to them.
- Strategic and analytical thinker with an entrepreneurial mindset.
- Ability to communicate both orally and in writing to multiple audiences including consultants, plan sponsor and provider clients.
- Subject matter expertise in the retirement space with a solid understanding of the industry landscape, target date products and the competitive environment.
- 10+ years of defined contribution and investment experience
- Experience with target date products is preferred.
- BS/BA Degree; MBA/CFA or advanced degree is highly desired.
Morningstar is an equal opportunity employer.
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