Vice President, Business Contracts- Retirement Services

Fidelity • Smithfield, RI

6d • $130,000 - $190,000 • Hybrid

About The Position

In this role you will develop strong relationships with institutional clients and build internal working relationships with Fidelity personnel in support of existing and new business contract negotiation. The Team This role sits within the Sales organization in Workplace Investing. We work with prospects and existing clients through the sales process, renewal process, and during significant contractual changes during their relationship with Fidelity. Our group helps ensure that our prospects and clients have a positive, collaborative experience during the contracting process with Fidelity. The focus of the role is to provide contractual support on business related components of the contract.

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)

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.

Benefits

• comprehensive health care coverage and emotional well-being support
• market-leading retirement
• generous paid time off and parental leave
• charitable giving employee match program
• educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 5,001-10,000 employees