*** Position is located in Gaithersburg, Maryland
If you like doing the same thing day after day, then read no further. However, if you are a problem-solver who lives for the opportunity to apply innovative approaches, read on!
NEA Member Benefits is looking for a creative and innovative individual to join their team and help us continue our evolution to customer centricity. In this role, you’ll be responsible for the management and growth of the financial product portfolio offered to members. The incumbent is responsible for staff leadership, partner relationships, portfolio management and growth strategies, financial management, marketing planning and execution, and member satisfaction. This position will also be responsible for the achievement of the annual participation and revenue goals set forth.
SPECIFIC DUTIES AND RESPONSIBILITIES:
Member Insights: Cultivates a thorough understanding of members, and ensures the Product Teams member employ analytics in their strategic and operational decision making. Collaborates with the Analytics Team to leverage insights born from research and behavioral data.
Product Management: Serves as the subject matter expert in all financial products. Leads the team of MB staff, partners, and vendors who together develop long-term strategic business plans and pro formas which support MB’s direction. Manages the portfolio of products and associated partnerships to ensure program growth and retention. Constructs funding plans that integrate goals, strategies, marketing and revenues. Provides progress reports toward achieving business plan goals identified, including monthly reports on participation and revenue and explanation of variances.
Partner Relationship Management: Ensures product team establishes and maintains sound partners relationships with regular communications that facilitate the exchange of information, ideas and updates. Leads the process of contract renewals. Collaborates with the Legal team to develop new contracts and renew/amend existing agreements. Ensures MB as a whole understands the obligations set forth under the agreements, and collaborates with internal departments (e.g., Finance, IT, Affiliate Relations, Member Services, etc.) to ensure their efforts supports the agreement.
Product Line Growth and Enhancement: Monitors competitive landscape to ensure the products offered are not only of excellent quality but also relevant to members based on their modern day needs. Monitors partners’ financial ratings to ensure they meet established criteria. Proactively identifies new product opportunities that are based on member needs. Justifies recommendation for new products with member research and pro forma. Collaborates with partners on product enhancements and product re-pricing. Consults with Business Development on the identification of new products and new partners. When needed, evaluates RFP proposals and participates on selection teams.
Sales Experience: In collaboration with partners, vendors and MB staff, establishes a straightforward process for members to apply for and/or purchase products. Ensures appropriate buyer journey material is made available within the sales experience. Collaborates with MB’s Content Team and partners to launch and maintain online resources that educates members on establishing financial health.. Ensures educational materials developed can be leveraged through multiple channels, including phone and field.
Marketing Management: Maintains a thorough understanding of the competitive market, member attitudes toward our products, and the association climate. Ensures sound business relationships with all agencies and consultants, and administers the marketing spend for adherence to the budget. Leads the NEA MB team, advertising agencies and consultants, and partners in establishing marketing strategies for the products. Oversees the marketing specialists and partner efforts to ensure marketing approach, creative messaging, and contact cadence aligns with NEA MB’s overall marketing strategy. Participates in evaluation of marketing campaigns and ensures earnings are applied to future product marketing decisions.
Member Satisfaction: Ultimately responsible for ensuring member questions surrounding financial products are answered. Tracks each reported issue until the member has received the information and/or advocacy needed. Conducts periodic research on the member satisfaction of the product and sales experience. Uses insights to improve products, processes, and marketing.
Staff Management. Leads a team of marketing and product specialists to achieve the goals identified. Coaches staff into a highly performing team who is committed and equipped to achieve the goals established. Ensures each team member is challenged with the opportunities appropriate for their grade level and is supported with coaching, training and other resources which will enable them to be successful. Regularly provides feedback to ensure the individual team member goals are achieved. Hires, trains, and integrates new members into the team.
Budget Management: Prepares the annual budgets that support the achievement of the goals identified in the strategic plan. When needed, negotiates marketing budget with the partner. Manages the use of the financial resources throughout the year, and creates a system to monitor and report income and expenses. Provides assistance to Finance with the billing process, as necessary.
· BA/BS in business, marketing, or a related concentration, or equivalent experience in lieu of a degree
· A minimum of ten (10) years of experience in:
- Financial product management
- Account/partnership management
- Financial product sales processes (both offline and online)
- Product development within an association or employee benefit market
- Contract negotiations
- Strategic planning
- Product evaluation
- Budget preparation
- Direct and digital marketing with a demonstrated understanding of:
§ Multi-channel, personalized, behavior-based triggered marketing
§ Social media engagement
§ Content Marketing
· Solid understanding of marketing, to include production, modeling, segmentation, target audience planning, and campaign analytics.
· Proficiency in conducting competitive analytics and reporting. Strong ability in deriving insights from data. Working knowledge of business intelligence / analytics tools, such as Spotfire.
· Demonstrated experience creating and leading a high performing team of professional employees.
· Strong organizational skills along with excellent written and verbal communication and presentation skills.
· Demonstrated staff leadership
· Intermediate to advanced level knowledge of all MS Office software.