Job Description:
Job Title: Director, Business Contracts
Note: Fidelity will not provide immigration sponsorship for this position
The Role
In this role you will develop strong relationships with institutional clients and build internal working relationships with Fidelity personnel in support of existing and new business contract negotiation.
The Expertise and Skills You Bring
College degree preferred
7+ years of Relationship Management, Client Service, Implementation Project Management experience; preferably within Retirement/401K/Benefits industry.
FINRA SIE, Series 7, and 63 required; may be obtained in role
Benefits/outsourcing experience
Comprehensive time management skills
Understanding of exception management processes and overall contract negotiation strategy
Ability to build effective relationships, influence outcomes and drive decisions with key internal and external contacts
Proven capability to successfully meet deadlines and work in a fast-paced environment
Strong oral and written presentation skills
Strong communication and facilitation skills with ability to describe and solve issues using clear, simple terms
Outstanding meeting facilitation and management skills
A solid working knowledge or understanding of the Fidelity organization and Fidelity’s vast array of products, services, business solutions and structure
Strong attention to detail and organizational skills
Demonstrated time management skills
Flexibility and positive team attitude
Product domain knowledge (e.g., Defined Contribution, Defined Benefit, Health and Welfare)
Serve as the primary point of contact, both internally and externally, to manage business negotiations and contract processes with clients, external search consultants, procurement, and legal counsel
Responsible for oversight of the client contracting process for new business, rebids, and renewals; ensuring completion within required deadlines
Participate in strategy discussions with Managing Directors (MD) and Retention Executives (RE) on client rebids and renewals and with Account Executives (AE) on new sales opportunities
Initiate and facilitate contracting kick-off meetings to confirm timeline, strategy, deliverables, and deliverable owners
Consult with the Sales team, Retention team, and/or Managing Director in the development of business schedules and terms for the contract
Work collaboratively with clients, Fidelity Legal Contracts team and internal business partners during contract negotiations in order to develop creative, flexible and integrated contract solutions
Mitigate contractual risk to the firm while maintaining overall client satisfaction with contracting process
Maintain overall responsibility for the development, negotiation, resolution of related issues, and final business schedules and terms for the contract
Seek solutions for service delivery & performance guarantees (SLAs) based on client requests during the contracting process
Understand and be able to articulate Fidelity pricing models and fee levers
Responsible for all contract deal tracking, time tracking, and reporting within Salesforce®
Ensure contract decisions are supported by standard or approved exceptions for service model, SLAs, pricing, and terms
Manage the contract exceptions escalation process and present requests to Fidelity senior leaders
Identify areas for contract process improvement or redesign and implement changes
The Team
This role sits within the Sales organization in Workplace Investing. We work with prospects and existing clients through the sales process, renewal process, and during contractual changes during their relationship with Fidelity. Our group helps ensure that our prospects and clients have a positive, collaborative experience during the onboarding process with Fidelity. The focus of the role is to provide contractual support on business-related components of the contract.
The base salary range for this position is $90,000 - $150,000 per year.Placement in the range will vary based on job responsibilities and scope, geographic location, candidate’s relevant experience, and other factors.
Base salary is only part of the total compensation package. Depending on the position and eligibility requirements, the offer package may also include bonus or other variable compensation.
We offer a wide range of benefits to meet your evolving needs and help you live your best life at work and at home. These benefits include comprehensive health care coverage and emotional well-being support, market-leading retirement, generous paid time off and parental leave, charitable giving employee match program, and educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career. Note, the application window closes when the position is filled or unposted.
Most roles at Fidelity are Hybrid, requiring associates to work onsite every other week (all business days, M-F) in a Fidelity office. This does not apply to Remote or fully Onsite roles. Some roles may have unique onsite requirements. Please consult with your recruiter for the specific expectations for this position.
Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.