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VP, Business Development
Synchrony Finance Vice President of Business Development is responsible for partnering with the CareCredit team to identify, develop and cultivate new multi-year opportunities to accelerate the growth of CareCredit in existing markets as well as to facilitate the entry of CareCredit into new healthcare markets aligned with the business strategy.
- Partner with CareCredit SVP, Business Development and CareCredit’s cross-functional leaders to drive strategic relationship growth in targeted market segments - including focusing on expansion with Health Systems/Networks and Hospitals, Patient Payment Solutions, Revenue Cycle Management organizations, HealthCare Specialty Markets, and other markets as directed.
- Create, develop and grow a prospect pipeline to drive acquisition of new relationships; selling in CareCredit private label credit card programs across new and existing industries
- Develop relationships with C-level/senior level management in key functional areas (e.g., finance, revenue cycle management, patient access, marketing) of CareCredit healthcare industry prospects (e.g., retailers, etailers, providers, health systems/hospitals, associations, and consultants).
- Conduct strategic account planning for targeted prospects to 1) Explore and prioritize opportunities; 2) Develop prospecting approach and winning value propositions tailored to specific client requirements; 3) Identify internal and external resources required; and 4) Formulate action plans and timelines.
- Partner with CareCredit cross-functional team (Sales, Marketing, Finance, Credit, Risk, NCI) to lead internal approval process including CareCredit Pre-Deal Review and Investment Deal Review.
- Structure, negotiate and close multi-year health system, provider, retailer and sponsorship agreements. These include acquisitions, start-ups and other financing and servicing opportunities as appropriate.
- Incorporate necessary compliance and regulatory controls and triggers in proposals and deal agreements in partnership with Credit, Risk, Compliance, Legal and other associated functions.
- Transition new relationships to the client teams by assisting and guiding cross-functional deal teams from initial sourcing to launching.
- Continually promote and apply Synchrony values.
- Provide insight to marketing and finance teams to assist in the development of innovative value propositions and pricing proposals.
- Execute special projects as requested, including gathering/disseminating competitive intelligence.
- Prospect activities include industry and company research, sales presentations, trade show attendance, and pipeline reporting
- Proposals include development, financial offers (with Pricing/Finance), cross-functional deal team coordination, internal clearance, approvals and report outs.
- Negotiations include governance and financial structure development; operational guidelines; terms and conditions.
- Perform other duties and/or special projects as assigned
- Bachelor’s degree in related field (Accounting, Finance, Marketing, Business Management, Healthcare) OR in lieu of completed degree, must have at least 10 years’ relevant work experience
- Minimum 7 years of business-to-business sales experience at C-level/Senior Executive Level to include selling in Revenue Cycle Management solutions including Recourse and/or Non-Recourse Hospital/Healthcare Financing
- Minimum of 5 years of sales experience in Healthcare Systems and Hospital Networks
- Minimum of 3 years cross-functional team leadership management experience
- Team leader and team player, with proven record of sales success in the consumer Payments/Credit Card industry.
- Prior experience servicing large conglomerate hospital systems (for profit and/or non-profit)
- Excellent financial/analytical and deal structuring skills.
- Outstanding communication skills, balanced with creative persuasion and negotiation abilities.
- You must be 18 years or older
- You must have a high school diploma or equivalent
- You must be willing to take a drug test, submit to a background investigation and submit fingerprints as part of the selection process
- You must be able to satisfy the requirements of Section 19 of the Federal Deposit Insurance Act.
- Effective 1-1-18, new hires (Level 4-7) must have 9 months of continuous service with the company before they are eligible to post on other roles. Once this new hire time in position requirement is met, the associate will have a minimum 6 months’ time in position before they can post for future non-exempt roles. Employees, level 8 or greater, must have at least 24 months’ time in position before they can post. All internal employees must have at least a "consistently meets expectations" performance rating and have approval from your manager to post (or the approval of your manager and HR if you don’t meet the time in position or performance requirement).
Legal authorization to work in the U.S. is required. We will not sponsor individuals for employment visas, now or in the future, for this job opening.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.
Reasonable Accommodation Notice:
- Federal law requires employers to provide reasonable accommodation to qualified individuals with disabilities. Please tell us if you require a reasonable accommodation to apply for a job or to perform your job. Examples of reasonable accommodation include making a change to the application process or work procedures, providing documents in an alternate format, using a sign language interpreter, or using specialized equipment.
- If you need special accommodations, please call our Career Support Line so that we can discuss your specific situation. We can be reached at 1-866-301-5627. Representatives are available from 8am - 5pm Monday to Friday, Central Standard Time.
The salary range for this position is 115,000.00 - 230,000.00 USD Annual
Salaries are adjusted according to market in CA and Metro NY and some positions are bonus eligible.
Job Family Group:Sales
With roots in consumer finance that trace back to 1932, Synchrony Financial is a leader in consumer credit and promotional financing, providing a range of products for a diverse group of national and regional retailers; including Main Street mainstays, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. We are the largest provider of private label credit cards in the United States based on purchase volume and receivables and we provide co-branded dual card credit cards, promotional financing and installment lending, loyalty programs and FDIC-insured savings products through Synchrony Bank. Who do we serve? Hundreds of thousands of customers across the U.S. and Canada spanning the electronics and appliances, home furnishings, automotive, power products and sports, jewelry and luxury, retail and healthcare industries.
Our purpose is clear: we are committed to pioneering the future of financing, improving the success of every business we serve and the quality of each life we touch. This is fitting because when you join Synchrony Financial, you’re joining an organization that recognizes that our people are our greatest asset -every single one of them. That’s why we are deeply committed to investing in the growth of each member of our team. And with 80 years of experience, we know how to develop talent. At Synchrony Financial, we work hard to offer competitive rewards, compensation and benefits. When you join us, you become part of a stimulating work environment with vast opportunities to sharpen your skills and embrace new leadership challenges.