Commercial Director
The Commercial Director will be tasked with the generation and defense of revenue from new customers and will be responsible to ensure that we have the right product and internal processes to meet market needs. The function has responsibility for the middle market product(s) in one or two local markets.
Essential Accountability
- Direct responsibility for achieving sales targets for the given territory while developing new relationships and building on the incumbent’s existing extensive network to key influencers/participants in the middle market, including issuers, institutional investors, private placement arrangers, debt advisors and other influencers. As the private nature and proximity to local markets are central features of the new product, the networking approach needs to be highly customized to local market conditions and needs. Due to the novel nature of the product, networking should incorporate a significant educational component.
- Acquiring new clients and negotiating fees. Managing relationships with designated clients and prospects including face to face meetings on a regular basis. This involves regular travel to off-sites of clients. Unlike with other ratings products, the role of the middle market commercial director integrates many aspects of the Product Management function. The incumbent is responsible for managing the pipeline of new Middle Market Credit Opinion opportunities in close collaboration with market development, office heads, and analytical management.
- Working closely with analytical management to establish alignment of objectives and create a detailed product plan for the region including coordination with similar roles in other regions to ensure appropriate levels of global consistency and continuity of the product portfolio. The plan should incorporate innovative strategies focused on the expansion of services into largely unrated, private markets.
- Responsibility for collecting and synthesizing information from market participants and ensuring that this is fed back into the organization in a manner that helps to inform decisions on further product development, pricing and marketing strategies, and middle market publications.
- Responsible for establishing franchise in the middle market in absolute terms and increasing its first-mover lead over global competitors, to drive its market share to 40% within 2 years.
- Responsible for driving price changes and ensuring that the yield on related products is maximized
OTHER REQUIRED ACCOUNTABILITIES:
- Other tasks designated as “commercial”
- Contributing to working groups within trade associations or collaborations with external service providers for marketing purposes
- Representing frim at conferences and events and undertaking regular speeches at such events
- Communicating with policymakers to show firms contribution to the economic development of the middle market.
- Required to marshal resources not under direct control – to ensure end delivery of product to the client
- Dealing at a senior level with clients (CEO/ COO/CFO)
- Required to develop market demand for Middle Market Private Credit Opinions in largely unrated private markets
- Expected to create opportunities through the development of solutions and go beyond the simple execution of deals where the need is self-evident
- Responsibilities possibly cover the whole of two regions driving a need for cultural sensitivity
- Economic value of products being delivered—to maximize revenue through ensuring that we price based upon value rather than on a “cost plus” basis
- Need to deal with high internal coordination requirements
- Reconciling commercial demands with internal rules and procedures – to protect the integrity of the franchise
- Navigating the politics of large external organizations to ensure that we have a broad based relationship
EXPERIENCE:
- Deep knowledge of the middle market gained from 10 years + experience, desirable in debt origination with an arranger bank active in the middle market in the UK/France/Germany
- An extensive range of local contacts at a senior level in the middle market
- The ideal candidate will be fluent in two of English, French or German.
- A deep understanding of local market structures and culture
- Strong commercial and relationship management skills as the position integrates full commercial responsibility
- Strong influencing and interpersonal skills
- Very strong verbal and written communication skills and in particular an ability to make effective presentations
- Product and process management skills
- Bachelor’s degree required and advanced degree (MBA or similar qualification) is preferred.
- Strong consultative sales skills - needed to establish client needs and provide solutions to these needs
- Effective negotiation skills—to maximize revenue consistent with value propositions
- High energy levels/ “can do” attitude; high motivation for the new initiative
- Willingness to travel nationally (local clients), and internationally (possible dual markets responsibility)
- Team player attitude and orientation
- Demonstrated commitment to customer service
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