Pricing Optimization with General Electrics (GE)
We’re GE Money’s on-site internal/external retained executive search firm. We’ve placed virtually all of the key leaders within the GE Money Americas organization. Business units under the GE Money Americas umbrella include Retail Consumer Finance (RCF), Retail Sales Finance (RSF), Personal Finance, GE Money Services, GE Corporate Payment Services, Wholesale Mortgage Corp (WMC), Latin America and Canada.
This position resides in the GE Money corporate office here in Stamford, CT, and supports all divisions. It reports to the VP Pricing and is one reporting level away from CMO, GE Money. It is a new position that will be part of a relatively new pricing team that develops and sells in new pricing strategies for the GE Money divisions to generate incremental revenue. In addition to traditional APR reduction or elimination, pricing initiatives would include tiered pricing, bundling, and other creative approaches.
We’re looking for a very special kind of person. A pricing guru in financial services with Marketing and Finance experience who has the presence and business savvy to identify pricing opportunities in Mexico, Canada, Personal Finance, Wholesale Mortgage, etc. and to develop strategic pricing initiatives that will grow their business. This person must be polished, presentable, articulate, personable, confident and credible enough to present their strategies to people at the highest level, including Jeff Immelt, and have the depth of product knowledge required in credit card (or mortgage) to be able to think quickly on their feet and understand how to put together creative pricing scenarios. Also, he/she must have the ability to:
- Establish a relationship of trust with divisional leaders (clients)
- Assess client’s business with limited data available
- Look at client’s customer and product offering
- See where opportunities lie for increased revenue
- Understand their issues with systems, infrastructure, cost of doing business, etc.
- Generate ideas for pricing in an area of expertise (credit card, loan, mortgage fees, etc.) to increase revenue
- Quantify the ideas – use analytics to prove they’ll generate x amount of revenue
- Develop a strategic plan to present to the client business leader
- Sell it in to client – (e.g., here are 5 projects we think we can do for you, here are the plans for each, here’s how they’ll benefit your business and here’s how we think they should be done, etc.)
- Get it executed and monitor it to ensure that it generates the expected revenue.
- Help client build the right infrastructure to support it if necessary (e.g., in Mexico, Latin America)
This is it in a nutshell. We don’t work off of job specs because GE is looking for leaders, builders with high potential to really drive business initiatives, grow the business and also grow within the business. And they are willing to look at people who don’t fit into a mold, but who have the polish, the intelligence and the learning potential to thrive there.
Pricing is hot at GE and this is a very high profile, visible role. Within a week, everyone in the company will know about this person. I can’t stress enough how important this position is to GE Money and how much it would propel someone’s career within GE.
Lisa Foster
InSearch Worldwide
Account Vice President
Lfoster@insearchworldwide.com
(203)355-3092
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