DC Consultant Relations Manager – Vice President recruitment
BlackRock is one of the world’s preeminent asset management firms and a premier provider of global investment management, risk management and advisory services to institutional, intermediary and individual investors around the world. BlackRock offers a range of solutions — from rigorous fundamental and quantitative active management approaches aimed at maximizing outperformance to highly efficient indexing strategies designed to gain broad exposure to the world’s capital markets. Our clients can access our investment solutions through a variety of product structures, including individual and institutional separate accounts, mutual funds and other pooled investment vehicles, and the industry-leading iShares® ETFs.
Business Unit Overview: In light of the declining DB market, the UK DC space poses attractive opportunities for long term AUM and revenue growth potential. The UK is the third largest DC market in the world after the US and Australia and offers considerable long-term growth and revenue generation. We expect the market to grow substantially as DB schemes close to future accrual and auto-enrolment drives increased DC membership. We estimate that corporate DC AUM is expected to exceed corporate DB AUM in 2019. The shift to DC amounts to a real commercial opportunity for Blackrock to assist employers who want to offer a broader range of employee savings products. Retirement is a key global focus for BlackRock. In the UK, we are well positioned to lead the bundled and investment-only DC markets, We currently have in excess of 500 DC clients and operate record keeping for 269 employers (September 2011) covering more than 200,000 DC members.
Job Purpose/Background: Working alongside the Head of DC Consultant Relationships, manage the relationship with a defined list of EBC and Corporate IFA consultants. Objectives to include:
- Develop and manage relationships with key consultant personnel both centrally and at a regional level to deepen their understanding of the BlackRock employee savings proposition
- Manage the delivery of questionnaires, surveys and ad-hoc requests from owned consultants
- Manage the tender process to completion for owned consultants
- Lead sales pitches/beauty parades for owned consultants – including creation of the materials and management of the team
Key Responsibilities:
- Own and deliver a proportion of the sales target across the bundled and investment-only propositions
- Produce and maintain Key Account Plans ensuring they are in line with wider DC objectives
- Participate/Lead in DC New Business and/or rebid pitches
- Understand the DC Cost Model and manage accordingly to ensure the price given is appropriate to the size of mandate
- Lead the BlackRock response to tenders from owned consultants, ensuring that the response is relevant, timely and of a high quality
- Manage consultant queries, delegating to appropriate internal teams, monitoring progress to resolution and ensuring that responses are timely and of a high quality
- Share best practices across DC and the wider GCG and embrace team working to contribute to DC Team and UK business targets
- Work with colleagues across the DC Team to deepen relationship with intermediaries and direct to market activities
- Ensure Spectra (internal client management system) is kept up to date for all sales related activity, making sure that all consultant opportunities and activities are current
- Work with Global Consultant Relations Team to ensure co-ordination across consultant firms
- Manage and lead site visits to Peterborough as part of a sales pitch process or consultant demonstration
- Contribute to wider DC sales team’s direction, priorities and objectives
- Present at external events and represent BlackRock DC as appropriate
- Feedback client and market product requirements and contribute to their build and enhancement as appropriate
- Contribute positively to the broader EMEA business results
Development Value:
This role is a key part of BlackRock’s take to market strategy and, working alongside the Head of the DC Consultant team, is responsible for managing all EBC and Corporate IFA relationships. It is an opportunity to play a significant part in growing the business rapidly over the next 2 to 3 years. Being part of a small team will ensure a varied and challenging role, and will also present opportunities for wider BlackRock roles in the future. This is about building a business for the future, not just the incremental growth of an existing one.
Knowledge/Experience:
- Strong DC background, either working for a product provider or consultant
- Experienced presenter and negotiator
- Effective pitcher and meeting chairperson
- Strong track record in sales, cross-selling and defence
- Deep knowledge and understanding of the consultancy market
- Good eye for detail, and ability to produce high quality tender documents that result in BlackRock being invited to pitch
- Able to analyse client requirements and construct the most appropriate response
- Detailed knowledge and understanding of the PA08 and its implications for employers
- Strong DC technical, product and market knowledge
- Able to represent BlackRock in all appropriate forums
- Able to proactively position relevant products with clients and present alone to a deep level whenever appropriate
- Demonstrated aptitude for building service-oriented business
- Able to demonstrate deep working knowledge of BlackRock capabilities, key products and the operational framework in which they exist over the phone, via email and in person as appropriate
- Able to contribute to DC product design and evolution to deliver scalable solutions to clients
- Able to collaborate closely with colleagues in DC Operations on bundled client relationships
- Excellent prioritisation skills and ability to juggle multiple tasks
- Track record of strong results-orientation and process skills
- Excellent team player
- Highly proficient in using all relevant internal systems
Skills/Qualifications:
- Preferably APMI or AFPC and IMC qualified