Responsible for managing the business development process including but not limited to research, exploration, and implementation of new business models and internal initiatives within the innovation department at AF Group. Play a key role in the discovery and implementation of new revenue generating opportunities in support of profitable growth for the enterprise. Contribute and help manage the Innovation Works innovation pipeline and employee facing Idea Pipeline.
Utilize business planning expertise, methodology, and coordination to effectively guide innovation team members and/or business stakeholders in the identification and resolution of a wide array of business opportunities, merger and acquisition activity, and investment decisions. Evaluate, outline and document the startup cost, business impacts, operational plan and return on investment of new business opportunities. Help manage the process of standing up and transitioning the new business model or solution to the company in collaboration with the Innovation Works team and internal business partners.
Define the focus of innovation efforts related to the maintenance and evaluation of new and existing business models to determine the best fit for the organization, tactically and strategically. Stay current on late breaking trends within the insurance and workers' compensation industry to help identify threats, opportunities, and impending business model disruption. Exercise broad discretion and judgment in the acquisition and dissemination of such information. Push the limits of the business and our engagement with customers by thinking out of the box and challenging the business norm.
- Align and engage executive leadership on innovation activities that may impact their brand
- Direct the research and development of innovative new business models and new investment opportunities
- Manage the selection, maintenance and evaluation of new business models and revenue generating opportunities to determine the best fit for the organization, currently and strategically.
- Directly manage the innovation department's business development process which include planning, budgeting, reporting, problem solving, risk and issues management, communications, vendor management, and implementation.
- Determine funding requirements for each step in the business development process.
- Manage vendor relationships in partnership with Procurement and direct the work of teams sourced to various projects/systems.
- Mentor and educate business partners and company leadership on the utilization of best practices, resource allocation, project prioritization, plan development, risk analysis, scope and budget requirements.
- Monitor and report on new business development progress and new revenue from innovation team's efforts on a weekly, monthly, and annual basis.
- Develop and maintain relevant procedures and protocols for establishing new businesses and investments.
- Participate in developing department goals, objectives, processes, procedures, and systems.
- Participate in development of annual departmental budget, monitors results, identifies variances and makes recommendations.
- Serve as a member of any relevant advisory groups providing project guidance and innovation updates.
- Work with minimum supervision and exercise sufficient discretion and independent judgment.
- Maintain confidentiality of innovation research and work efforts.
This position description identifies the responsibilities and tasks typically associated with the performance of the position. Other relevant essential functions may be required. EMPLOYMENT QUALIFICATIONS: EDUCATION OR EQUIVALENT EXPERIENCE:
Bachelor's Degree in insurance, business, information services or related field required. Masters degree preferred. Combination of relevant education and experience may be considered in lieu of a degree. Continuous learning, as defined by the Company's learning philosophy, is required. Certification or progress toward certification is highly preferred and encouraged. EXPERIENCE: Experience for the Senior Innovation Business Advisor:
Minimum ten years of progressive multi-faceted experience in evaluating and planning strategies to solve management and business problems, including developing operational and strategic plans. Expert level experience in accounting, statistics or data analysis required. Five years proven innovation and development experience required. One year demonstrated leadership ability. M&A experience preferred, including acquisitions, joint ventures, divestitures, and other investment opportunities. Insurance industry experience highly preferred Experience in a property casualty underwriting, field marketing or business development role highly desirable SKILLS/KNOWLEDGE/ABILITIES (SKA) REQUIRED:
- Ability to organize, analyze and interpret financial and management data to solve business problems.
- Demonstrated experience developing business, operational and strategic plans.
- Extensive knowledge and understanding of information systems principals, software, and databases.
- Demonstrated ability to interact with others at all levels of the organization, to build alignment and get decisions implemented.
- Superior written and interpersonal communication, including strong presentation creation and delivery skills.
- Demonstrated ability to understand business needs and conceptualize and implement processes and products that support those business strategies across multiple entities.
- Demonstrated ability to comprehend the consequences of various problem situations and seek creative and innovative new solutions.
- Demonstrated ability to work both independently and as part of a team in the research, planning, development and implementation of innovation projects.
- Demonstrated ability to appropriately manage resources, budgets, issues, and risks for the successful completion of projects.
- Demonstrated ability to effectively exchange information clearly and concisely, and present ideas, report facts and other information, and respond to questions as appropriate.
- Demonstrated ability to establish rapport and maintain customer satisfaction without compromising priorities.
- Demonstrated leadership abilities.
- Thorough knowledge of project management principles and practices, including planning and coordination, with the ability to complete strategic projects involving multiple resources and entities.
- Ability to effectively interact with senior executive leadership, innovation team members and brand planning resources.
- Ability to effectively manage and facilitate multi-functional employee teams that may not be direct reports.
- Ability to establish workflows, manages multiple projects, and meets necessary deadlines.
- Ability to maintain confidentiality.
- Ability to perform other assignments at locations outside the office.
Work is performed in an office setting with no unusual hazards. Regular travel is required to visit with the brands and to attend conferences or seminars. Travel volume may fluctuate depending upon the individual project or urgency of the deliverable. At a minimum, the employee can expect to be traveling at least once a quarter for no longer than a week at a time.
The qualifications listed above are intended to represent the minimum education, experience, skills, knowledge and ability levels associated with performing the duties and responsibilities contained in this job description.
We are an Equal Opportunity Employer. Diversity is valued and we will not tolerate discrimination or harassment in any form. Candidates for the position stated above are hired on an \"at will\" basis. Nothing herein is intended to create a contract.