RVI Group, the world’s leading provider of residual value insurance, is looking to hire a Senior Manager for Business Development to join the Passenger Vehicle (PV) Group. Located in Stamford, CT, the successful candidate will report to Rene Abdalah, Vice President and Head of PV Operations. RVI Group is seeking an experienced business and product development manager for RVI’s expanding insurance and analytical services businesses to manage key accounts, relationships with prospects and partners.
Roles and Responsibilities:
- Manage business development and account management for RVI’s U.S. analytical services and residual value insurance businesses
- Lead new product development initiatives in North America
- Assist in development and management of partnership with external organizations to bring new products to market
- Coordinate cross-functional product development team (Underwriting, IT, Legal, etc.) to successfully implement key initiatives
- Generate and develop new product ideas in response to the evolving market
- Foster relationships with RVI clients and prospects
- Assist in establishing OEM marketing relationships and OEM product review agreements
- Ensure that underwriting transactions progress and close
- Evaluate all proposals, renewals, and new terms for U.S. accounts
- Assist, as needed, in the reserving process, audits, and surveillance of the PV in-force book of business
- Lead market research efforts and assist in the development of underwriting and risk management tools
- Evaluate used car pricing trends to assist in sound underwriting practices
- Seven to ten years experience in automotive finance & insurance and/or residual value insurance
- Superior business development skills including strong consultative sales capability
- Strong client relationship and account management skills
- Excellent track record of achieving results; well-developed ability to work both independently and collaboratively
- Demonstrated capability to take an idea from concept to product
- Strong work ethic and drive to achieve
- Relevant strategic and technical skills
- Solid organizational skills, proven ability to meet deadlines
- Excellent written and verbal communication, interpersonal and presentation skills
- Proficient in Microsoft Office Suite
- Demonstrated ability to juggle multiple priorities and meet deadlines.
- Strong relationship building, collaborating and networking skills.
- Senior Management
- Passenger Vehicle Team
- Risk Management, Legal and IT Teams
- Clients and prospects (OEM’s, banks, credit unions, etc.)
- External business partners
o other vendors
- Auctions and remarketing firms
- Insurance and reinsurance companies and brokers
- Rating agencies and investment bankers
- RVI’s Board of Directors
- Media/publications and conference organizers
The Passenger Vehicle Group, led by Rene Abdalah and the CEO, Douglas May, represents a major asset area for RVI Group. There are 10 professionals on the team within the greater 40 person company. Residual value insurance helps companies manage asset value risk by guaranteeing that a properly maintained asset will have a specified value at a future date. This type of coverage ensures asset values, making risk counter-cyclical to inflation. It is an enormously flexible tool with benefits that range from simple risk mitigation to complex financial objectives such as capital optimization.
Residual value insurance is purchased primarily to provide accounting coverage, increased loan to value ratio, and asset value coverage. Residual value insurance allows auto leasing and finance companies to manage residual risk by protecting against fluctuations in the used car market. RVI helps independent leasing companies, leasing companies which are controlled by banks, leasing companies controlled by auto manufacturers (captive finance companies), and credit unions to:
- Reduce financial statement volatility;
- Convert operating leases to finance leases; and,
- Demonstrate to their parent credit committees that their potential future residual value losses will not exceed a fixed, pre-agreed amount.
The RVI team works closely with clients to understand their financial objectives and constraints and then tailor a policy designed to meet their specific needs. Their clients also benefit from customized reporting to assist in portfolio management and streamlined electronic claims processing.
Members of the Passenger Vehicle underwriting team bring a wealth of experience from the automotive sector. Their expertise includes lease origination, portfolio management, market analysis, residual value setting and evaluation, auction transactions, and supervising all aspects of end-of-term management activities.
RVI Group offers competitive compensation, excellent benefits, 401(k) Plan, and education assistance. For further information and to contact us, please visit our website at www.rvigroup.com. The RVI Group is an equal opportunity employer. Background checks are required.