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chief business officer

4 weeks ago

Kuala Lumpur, Kuala Lumpur, Malaysia CTOS Data Systems Full time

We are Malaysia's leading Credit Reporting Agency (CRA) and we are aggressively expanding our business, looking for dynamic, driven, and motivated individuals to join our team. Our Direct-To-Consumer segment (D2C) is one of our fastest growing product areas in the market, with an abundance of expansion plans and innovative ideas on hand.

Mission/Purpose of the position:

The Chief Business Officer has the main objective of supporting and overseeing the activities of the Key Account Management personnel. The Chief Business Officer directs and optimizes the business's most valued consumer relationships. The Chief Business Officer brings a strong analytical acumen and business development knowledge to the table. The ideal candidate will play a crucial role in driving revenue growth, building strong relationships with key clients, and ensuring overall customer satisfaction. This position requires a seasoned leader with a proven track record in Key Account Management and a deep understanding of business strategy.

The Chief Business Officer avails this capability to establish and build good working relationships with both internal and external consumers, which is vital to the successful execution of duties in this role.

Responsibilities:

Management

  • The Chief Business Officer plays a managerial role for several account managers and oversees strategic commercial negotiations, for example, cost savings, pricing, supply agreements, and payment terms for key accounts.
  • Drives the sales force to encourage the development and discovery of key accounts. In charge of revenue growth through effective account planning, cross-selling, and upselling strategies.
  • Identify new business opportunities within existing accounts and collaborate with the sales team to expand the customer base.
  • The Chief Business Officer determines and sets budgetary needs for the key account department and sets the key account sales targets and strategic plans for the achievement of those targets.

Strategy

  • Chief Business Officer plays the role of mapping key accounts and monitoring competitor activities for formulating informed strategies that will reduce business churn and give the business an edge over competition.
  • The Chief Business Officer also encourages the enhancement of relationships with key consumer influencers and develops a stronger understanding of consumer behavior through a deeper analysis of consumer decision-making criteria.
  • Develop and execute the overall Key Account Management strategy aligned with the Company's business objectives.
  • Provide strategic guidance to the Key Account Management team and collaborate with cross-functional teams to ensure the successful implementation of key initiatives.
  • This information is used to formulate approaches that appeal to key consumers, hence, attract, and retain them in the business.
  • Chief Business Officer also strives to ensure that any developed key account sales strategy is aligned and consistent with the overall volume objectives of the business.

Analytics

  • Chief Business Officer plays an analytical role where he conducts research and gathers data on consumer, market, and competitor activity with the aim of encouraging key account client acquisition and retention.
  • Chief Business Officer gathers data and information, analyzes it, and provides formal reports to use in informed decision-making and strategy formulation.
  • He/she regularly coordinates cost-benefit analyses and shared projects, and reviews key account plans on a regular basis as part of the process to avail insights for departmental performance improvement.
  • The Chief Business Officer also measures departmental performance and weighs it against targets and the business's KPIs, and subsequently presents proposals for strategic approaches that lead to the attainment or surpassing of targets.

Collaboration

  • The position of the Chief Business Officer is a collaborative one, where he/she collaborates with other sales and marketing departments to actively develop aligned marketing goals that ensure no conflict of interests between these departments and works to create a unified and stronger front in the quest to achieve the business's objectives.
  • He/she consults with the customer support department on key consumer supply issues and determines what the best communication plan would be for key accounts. In conjunction with senior key account management, the Chief Business Officer also liaises with the finance department in determining the budgetary allocation for the department, voicing any concern of additional financial necessities to ensure optimal performance of the department.

Knowledge and Opportunity

  • The Chief Business Officer has the responsibility of constantly gathering information on the best practices and market/consumer trends that will enable the account management department to stay up to par or even ahead of competition in the market. He/she gathers important information by attending tradeshows, attending sales seminars, indulging in relevant publications and so forth.
  • Chief Business Officer, in this capacity, also identifies key account prospects and opportunities in addition to identifying, upgrading, and maintaining value-added accounts.

Account Management and Maintenance

  • The Chief Business Officer, however, does not simply oversee key account management; he/she also personally manages and maintains high-level accounts. In this position, he/she monitors the account sales performance and engages at the consumers' level to increase the levels of engagement with these key clients, hence, ensuring the occurrence of repeat business.
  • Chief Business Officer increases the revenue from existing key accounts by cross-selling new products to these key consumers, seeing as they are already loyal to the brand.

Risk Management

  • Identify potential risks and challenges within key accounts and develop proactive strategies to mitigate them.
  • Work closely with other departments, such as finance and legal, to ensure contract compliance and manage any contractual disputes.

Other Duties

  • The Chief Business Officer performs similar duties as may be necessary for the effective execution of his duties and duties as delegated by the Chief Executive Officer.
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