Our client originates, assesses and present to its Clients, opportunities to fund disputes, to assist in managing such investments and to provide timely and accurate reports as required. The Business does not make investment decisions, only investment recommendations.
Currently the company originates opportunities from lawyers, typically in litigating practices. This activity is successful and is similar to other funders. To expand the pool of opportunity and to create a differentiating proposition, the client wishes to originate opportunities from other aggregators of litigation such as turnaround consultancies, banks, private equity investors, government (and the agencies/consultants working with government) and insurance brokers.
The Business Development Director is a new role that will sell the products of the client to aggregators of litigation who currently have awareness but little detailed knowledge of the benefits the client or the products it offers. The goal is to generate from these new aggregators investment opportunities for the client to review. The metrics of success will be:
o The number of new referrers of opportunity
o The number and value of investment opportunities referred that fall within the investment appetite of the Funds
o The value of opportunities that sign-up for funding by the Funds.
It is expected that the sales cycle from first meeting to first referral from a new aggregator will be approximately three months.
The role encompasses:
o Identifying and targeting prospects
o Getting a first meeting and propogating through the target organization to reach the decision-maker/referrer
o Generating a clear understanding of the benefits of the the clients products and the clients criteria for consideration
o Establishing a referral path
o Bringing in the first referral and introducing the relationship management team who thereafter will undertake due diligence on referrals and encourage continuing engagement.
The role works within the business and, to be successful, requires the individual to be highly effective at creating great working relationships with the lawyers in the team for whom the Business Development Director should be a new source of best practice and inspiration.
The role has a London office base but is expected to be one which involves potential travel to source opportunities from any of the international target markets of the Business.
- Build new referrer relationships and develop new flows of funding opportunities through:
- Create a personal sales plan and be accountable for its delivery
- Focus on new potential referrers: identifying, soliciting, developing and following-up all opportunities
- Position for and spot openings, leads and prospects, make connections, network and keep an ear to the ground
- Challenge the client to ensure the needs of potential referrers are met whenever this is commercially viable
- Build data to ensure successes are understood and lessons learned
- Actively manage new potential referrer relationships until the first successful referral and consequent transition to the broader team
- Ensure contact details and relationship history are kept up to date on the CRM platform
- Maintain pipeline tracking on the CMS platform
- Respond to referrer contacts in a manner that develops an appreciation of the clients high service standards, “bridging” referrers by making sure that cases introduced are owned by a and followed through appropriately
- From referrer feed-back and experience, propose improvements to the way that the Business operates and assesses new case opportunities
- Assist in devising, developing and implementing strategies to respond to the various changes taking place in the commercial market place and to adjust the modus operandi of the client to keep it at the forefront of its market
- Ensure that the best possible use is made of available IT systems, particularly CMS and CRM
- Provide advice and assistance with the professional development of other Team members at all stages of their careers.
- Set an example within the Team of best behaviour and of being a ‘go to’ person and advisor for them in business development matters.
- By the way tasks are approached, promote a general culture of inclusivity, understanding and support
Key Skills and Aptitudes
- A legal qualification is not required although interest in the sector is beneficial. The Role holder is expected to demonstrate the following:
- Track record of successful “cold” consultative selling to C-level
- Demonstrable commercial awareness that can be evidenced through leadership of complex financial negotiations
- Experience of working with financial needs/products/solutions
- Sales planning ability
- An outgoing and positive mind-set.
- Charisma, charm and the ability to influence and persuade
- Self-confidence and an engaging style, with the ability to hold a room
- Self-motivation, with the drive and energy to achieve success
- Excellent intellect and communication skills, both verbal and written.
Please send your CV to email@example.com
To apply by email to this position, please send your CV and covering letter to the following link:firstname.lastname@example.orgTC010
NB: Mindbench is acting as an Employment Agency in relation to this vacancy