VP, Benefit Administration Practice Lead

$166,000 - $221,000/Yr

WEX - Portland, ME

Full-time - Senior

Portland, ME

Credit Intermediation and Related Activities

About the position

WEX is an innovative company looking to forge the way in a rapidly changing environment, with a goal to simplify the business of doing business for our customers and partners. Our Benefits offerings do just that, by empowering people to make confident benefits decisions, so they can live happy, healthy lives. As a key member of the Benefits Growth Leadership team, you will be responsible for accelerating WEX's Benefits revenue, with a singular focus on our Benefit Administration ("Ben Admin") product. This leader will develop and execute on a holistic Ben Admin strategy, influencing cross-functional stakeholders in Sales Enablement, Product, Marketing, Go-To-Market, and Service. Experience and ability to "see the big picture" is a must.

Responsibilities

• Develop a bold vision, strategic goals, and priorities to increase Ben Admin revenue and deliver bundled cross-product sales.
• Ensure the Ben Admin practice is positioned competitively in the market by identifying trends, creating differentiated service offerings, and building thought leadership.
• Own the profit and loss (P&L) responsibility for the Ben Admin practice, including setting revenue targets, managing costs, and ensuring profitability.
• Lead efforts to acquire new Ben Admin customers, focusing on expanding the customer base and building long-term partnerships.
• Partner with our Ben Admin Account management to oversee key customer relationships, ensuring customer satisfaction and identifying opportunities for upselling or cross-selling additional services.
• Oversee Ben Admin Sales messaging, in partnership with the Marketing team, and cascade in a scalable way through Sales Enablement processes and go to market motions driving awareness and the WEX brand.
• Stay ahead of market trends, understanding industry shifts and customer needs, and adjusting practice offerings accordingly.
• Drive the development of new services, solutions, or products that meet emerging customer demands or open new revenue streams.
• Monitor competitors and industry dynamics to keep the practice competitive and innovative.
• Grow WEX's brand equity in the Ben Admin space, in partnership with the Marketing team, through content creation, speaking engagements, networking, and industry awards/recognition.
• Maintain and deepen relationships with key customers and partners, ensuring high levels of satisfaction and fostering long-term partnerships.
• Partner with Account Management's Ben Admin team to address Voice of the Customer / NPS findings and pain points, with support from Product and Technology teams.
• Partner to develop and implement strategies to retain customers, reduce churn, and increase customer lifetime value.
• Ensure the high-quality delivery of services, products, or solutions within the practice, maintaining customer satisfaction and high standards.
• Continuously improve processes to enhance service delivery efficiency, ensuring that operational systems support business goals.
• Create and manage the practice's budget, including revenue forecasts, and report on financial performance regularly.
• Monitor expenses and ensure cost-effective delivery of services, balancing quality with profitability.
• Track and report on key performance indicators (KPIs) such as revenue growth, customer retention, profitability, and operational metrics.
• Lead, motivate, and develop the practice team, ensuring they have the necessary skills and support to meet performance goals.
• Oversee the recruitment and retention of top talent within the practice, ensuring that team capacity matches business growth.
• Provide guidance, mentorship, and training to team members to enhance their skills and performance.

Requirements

• 12+ years experience growing revenue and thought leadership at a leading benefits administration provider
• Deep customer centricity, with a passion for understanding customer problems and rapidly experimenting to solve them
• Strong leadership presence and proven ability to effectively communicate and influence across a broad set of stakeholders and executive leaders to drive strategic alignment
• Ability to set a bold vision for the reimagined experiences, and develop a strategy to execute and iteratively deliver on the vision
• Outstanding leadership skills, industry expertise, professionalism, and business planning capabilities
• Strong analytical and problem-solving skills, with an extensive use of both quantitative and qualitative data, to drive prioritization and performance
• Strong leadership and communication, with a style that is collaborative, upbeat, inspirational and performance-driven
• A true partner to general management and operations to achieve revenue, profit, and customer NPS objectives Proven history and ability to focus on the big picture
• Bachelor's degree preferred
• Willingness to travel up to 25%

Benefits

• Health insurance
• Dental insurance
• Vision insurance
• Retirement savings plan
• Paid time off
• Health savings account
• Flexible spending accounts
• Life insurance
• Disability insurance
• Tuition reimbursement
• Quarterly or annual bonus based on role and applicable plan