PRIMARY PURPOSE OF THE POSITION
The Pricing and Data Analyst is responsible for analysis of competitive intelligence as well as internal data to contribute to the development and execution of pricing strategy for the portfolio of current clients and new business opportunities from a financial governance perspective as well as contributing to the collaborative input into the development of pricing strategy from a deal-specific bidding perspective and a product management/definition perspective. The position creates pricing reports related to the current book of business, the portfolio of proposals in the market, and pricing trends and forecasts.
Responsible for development and reporting of Pricing Governance reports. Tracks and analyzes pricing information to identify and execute on opportunities to improve efficiency and effectiveness both for new business as well as for retaining existing clients. Provides counsel, research, and analytical support to Group Manager, Pricing Governance and Data Strategy as well as Directors of Sales, Client Services, Marketing and Finance on pricing strategies, trends, and competitive landscape. Develops new reports and refines existing reports to increase effectiveness; accountable for leading the development/distribution of the content on a weekly/monthly/quarterly cycle.
Develops, analyzes and communicates pricing information necessary to enable financial forecasting. This includes both historical and forecasting data on the business unit and individual producer level for presentation to internal audiences, including Retirement Plan Services(RPS) Leadership team. Evaluates input process for CRM and (re)defines processes and provides training as needed to improve the integrity of CRM data as it relates to pricing. Interfaces with head of Sales/Finance/Client Services/Marketing to gather input and market intelligence to inform projections and identify trends. Supports Group Manager, Pricing Governance and Data Strategy in proactively working with Finance to provide guidance, prioritization, and strategy recommendations to Client Services regarding the repricing of existing clients.
Oversees execution of ongoing pricing analysis for new business and for existing clients. Manages pricing for opportunities of $150,000,000 in partnership with the manager. Creates and maintains pricing database, identifies industry trends in pricing level and structure, and leverages this information to propose changes to RPS pricing strategy and potentially RPS product definition. Responsible for execution of RPS pricing strategy on deal-specific basis for OMNI and TRAC business.
Re-engineers business processes and develops best practices. Optimizes the firms’ resources by re-engineering business processes and developing best practices regarding pricing as it relates to the sales process (both new business and existing clients), the ongoing client re-pricing process, the execution of marketing initiatives, and other internal processes (e.g. functions of Sales Support Liaisons as well Relationship Manager Support Liaison) as they relate to pricing and data strategy and governance.
Act as primary representative for Group Manager, Pricing Governance and Data Strategy (PGDS) in cross-business unit initiatives / projects. Negotiates agreements and ensures PGDS interests / development needs are appropriately represented and prioritized. Examples include strategic marketing initiatives, new product development, reporting system changes, and other initiatives that could potentially have broader strategic implications for RPS or the reporting of data from and about RPS.
Investigates, evaluates, and implements usage of external data sources as they relate to pricing. Researches third party data sources to determine applicability for supporting RPS in tandem with proprietary sources.
3-5 years of institutional sales/client service in a financial services company
MBA or other advanced degree with at least 5 years of institutional sales/client service in a financial services company
Advanced knowledge and understanding of T. Rowe Price investment products
College degree and 2 years of related work experience, or Associate degree and 4 years related work experience, or High School diploma/equivalent and 6 years related work experience
Strong business acumen with advanced problem solving skills
Sales, Finance, and/or Marketing background
Advanced communication/presentation skills
Advanced relationship management/sales skills
Experience and knowledge of operational issues impacting asset management firms
Clear understanding of defined contribution market and sales
Demonstrated forward thinking by anticipating needs
Strong understanding of CRM system best practices
Advanced knowledge of the intricacies of the RPS sales process
Broad understanding of RPS business
Experience in defined contribution business
Strong understanding of data and data best-practices
Strong understanding of process and control best-practices
T. Rowe Price is an Equal Opportunity Employer
T. Rowe Price Investment Services, Inc. - 16 months ago
T. Rowe Price Group administers an eponymous family of about 100 mutual funds in a variety of investment styles. Traditionally oriented...