VP, Business Development

Inovalon•Tampa, FL

18h

About The Position

Overview: The Vice President, Business Development, will lead two of the key elements critical to the strategic growth plan: First, develop and implement strategies for the successful increase of the company’s products across established and emerging markets in conjunction with our teams and partners. Second, identify, manage and secure opportunities focused on the product portfolio and related areas. Duties and Responsibilities: Provide strategic oversight and leadership in all planning, implementation, execution, and successful achievement of all sales (e.g., de novo, expansion, renewal, extension, direct, procurement, cross-sell and up-sell) of Inovalon in such a fashion as to achieve corporate targets of market penetration, revenue and margin metrics, client satisfaction, product and client diversification as well as ongoing compliance with regulatory, quality, accreditation, delegation, and contractual requirements of Inovalon’s products and services; Develop and maintain an expert level of knowledge regarding products, services, and operations of Inovalon to achieve optimal insight into Inovalon’s products, services, capabilities, support, and functionality requirements; Develop annual sales strategic business plans to drive revenue and increase market share; Lead with compelling strategic vision that is in alignment with the organization’s short and long-term goals. Oversee and provide leadership in the effective identification, recruitment, review process, retention, training, daily coordination, and management of team members in such a way as to achieve a successful balance of service provision and associated financial fiduciary responsibility; Lead, and ultimately be responsible for, all business development personnel and business development operations within Inovalon, specifically: Guide and foster the development of Inovalon’s sales personnel, including the staffing, coaching, and development of such business development personnel: in-market, office-based, support, and administrative staff; Be responsible for the tracking and reporting (of pipelines, success rates, costs, financial performance, etc.) pertaining to Inovalon’s sales efforts in a timely, accurate, and comprehensive fashion; Collaborate with all resources and personnel necessary to ultimately achieve (and ideally exceed) Inovalon’s targets for market penetration, revenue and margin metrics, client satisfaction, product and client diversification, and ongoing compliance with regulatory, quality, accreditation, delegation, and contractual requirements of Inovalon’s products and services; and Ensure communications are coordinated, support sales plan objectives and meet organizational expenditure requirements in conjunction with the head of Marketing. Participate with Inovalon leadership in support of the evaluation and shepherding of potential strategic partnerships and initiatives through the considerations needed for Inovalon to vet and consider such partnerships and initiatives; Maintain comprehensive communication with Inovalon management and appropriate internal personnel and clients regarding timelines, readiness, needs, risks, cost implications, and resource requirements; Partner with Inovalon leadership in the strategic development of initiatives to identify market opportunities, product and system enhancements, and other such opportunities which may improve client appeal, process flow, and overall Inovalon business function, industry reputation, and financial performance; and Promote and support Inovalon’s values and compliance and ethics standards, practices, and initiatives, leading by example. Maintain compliance with Inovalon’s policies, procedures and mission statement; Adhere to all confidentiality and HIPAA requirements as outlined within Inovalon’s Operating Policies and Procedures in all ways and at all times with respect to any aspect of the data handled or services rendered in the undertaking of the position; Fulfill those responsibilities and/or duties that may be reasonably provided by Inovalon for the purpose of achieving operational and financial success of the Company; Uphold responsibilities relative to the separation of duties for applicable processes and procedures within your job function; and We reserve the right to change this job description from time to time as business needs dictate and will provide notice of such.

Requirements

15+ years of experience working in the healthcare and healthcare technology fields with progressive sales management experience
Extensive knowledge of the Technology/Analytics industry market, business and sales operations
Experience in building, developing and motivating a high performance and accountable sales team that is committed to results
Proven ability developing sales forecasts, business strategies, budgets, quotas, and business plans and delivering presentations, both internal and external
Designing and developing sales organizations that are models for success within the industry
Travel as needed for in-person meetings with customers and partners and to develop key relationships
Exhibits desirable and appropriate professional behavior including leadership, sense of urgency, independent judgment, nimbleness, creative thinking and personal integrity to provide for a cohesive, sales team dedicated to the achievement of corporate goals
Ability to design the sales force to effectively target the full account space with a structure that best aligns with the sales process strategies (i.e., account assignments, territory allocation and design, etc.)
Proven ability to operate as entrepreneur within the teams that are client focused and the ability to instill this quality in others
Bachelor's degree in Sales and Marketing, Business Management or related field required and 15+ years of equivalent experience in related field

Nice To Haves

MBA preferred in related field or 13+ years’ experience with equivalent experience.

Responsibilities

Provide strategic oversight and leadership in all planning, implementation, execution, and successful achievement of all sales (e.g., de novo, expansion, renewal, extension, direct, procurement, cross-sell and up-sell) of Inovalon in such a fashion as to achieve corporate targets of market penetration, revenue and margin metrics, client satisfaction, product and client diversification as well as ongoing compliance with regulatory, quality, accreditation, delegation, and contractual requirements of Inovalon’s products and services
Develop and maintain an expert level of knowledge regarding products, services, and operations of Inovalon to achieve optimal insight into Inovalon’s products, services, capabilities, support, and functionality requirements
Develop annual sales strategic business plans to drive revenue and increase market share
Lead with compelling strategic vision that is in alignment with the organization’s short and long-term goals.
Oversee and provide leadership in the effective identification, recruitment, review process, retention, training, daily coordination, and management of team members in such a way as to achieve a successful balance of service provision and associated financial fiduciary responsibility
Lead, and ultimately be responsible for, all business development personnel and business development operations within Inovalon, specifically: Guide and foster the development of Inovalon’s sales personnel, including the staffing, coaching, and development of such business development personnel: in-market, office-based, support, and administrative staff
Be responsible for the tracking and reporting (of pipelines, success rates, costs, financial performance, etc.) pertaining to Inovalon’s sales efforts in a timely, accurate, and comprehensive fashion
Collaborate with all resources and personnel necessary to ultimately achieve (and ideally exceed) Inovalon’s targets for market penetration, revenue and margin metrics, client satisfaction, product and client diversification, and ongoing compliance with regulatory, quality, accreditation, delegation, and contractual requirements of Inovalon’s products and services
Ensure communications are coordinated, support sales plan objectives and meet organizational expenditure requirements in conjunction with the head of Marketing
Participate with Inovalon leadership in support of the evaluation and shepherding of potential strategic partnerships and initiatives through the considerations needed for Inovalon to vet and consider such partnerships and initiatives
Maintain comprehensive communication with Inovalon management and appropriate internal personnel and clients regarding timelines, readiness, needs, risks, cost implications, and resource requirements
Partner with Inovalon leadership in the strategic development of initiatives to identify market opportunities, product and system enhancements, and other such opportunities which may improve client appeal, process flow, and overall Inovalon business function, industry reputation, and financial performance
Promote and support Inovalon’s values and compliance and ethics standards, practices, and initiatives, leading by example
Maintain compliance with Inovalon’s policies, procedures and mission statement
Adhere to all confidentiality and HIPAA requirements as outlined within Inovalon’s Operating Policies and Procedures in all ways and at all times with respect to any aspect of the data handled or services rendered in the undertaking of the position
Fulfill those responsibilities and/or duties that may be reasonably provided by Inovalon for the purpose of achieving operational and financial success of the Company
Uphold responsibilities relative to the separation of duties for applicable processes and procedures within your job function