SVP, Workplace Plan Sponsor Sales at Morningstar
Morningstar Investment Management, LLC’s Workplace Solutions team seeks a business development manager to build a team to sell to the appropriate market within the plan sponsor community our managed retirement account service. The successful candidate will be responsible for hiring and developing a sales and service team to deliver our managed retirement account service to DC plan sponsors and their participants. This role will also cultivate a successful product and sales approach to bring this service 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, other business development personnel, relationship management, consultant relations, and the legal and compliance teams to ensure a high level of sales quality to large plan sponsors. The sales manager will train and mentor sales and service personnel to effectively grow and expand the business. Initially, this person will be tasked with direct sales for a period of time until a larger team has been established.
+ Build and maintain strong plan sponsor relationships.
+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.
+ Maintain a relationship with existing managed retirement account plan sponsors in order to build on the existing relationship and potentially leverage for referrals to use with other plan sponsors.
+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.
+Work with consultant relations and sales management, to differentiate service and sales efforts for larger plan sponsors and their consultant.
+ Interact extensively with the managed retirement account product manager and marketing to foster leads, contribute to product marketing collateral, and establish sales support materials.
+ Responsible for team’s sales targets and position goals on an annual basis.
+Hire, train and manage salespeople and relationship managers
+ Monitor and provide feedback on client and competitive activities in the marketplace.
+10+ years of defined contribution sales and sales management experience within a(n) investment management/defined contribution environment.
+ Team-oriented professional with demonstrated abilities in negotiation and persuasion.
+ Established credibility and strong reputation as a trusted resource within the DC retirement plan sponsor community.
+Team management experience
+Understanding of complex products and financial instruments, investment processes, distribution, operations and compliance.
+Ability to understand sophisticated plan sponsors and investment committees, provide comprehensive managed retirement account solutions and effectively communicate complex strategies to them.
+Subject matter expertise in the retirement space with a solid understanding of the industry landscape, managed retirement account products and the competitive environment.
+BS/BA degree; MBA/CFA or advanced degree is highly desirable.
+Approximately 30% to 40% of your time will be spent on travel.