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Account Executive, Commercial - job 1 of 2

About Forma

The market for employee benefits is broken. Companies spend millions annually on employee benefits that employees neither value nor regularly use. Founded in 2017, Forma set out to build a better model by challenging traditional one-size-fits-all approaches.

Forma’s flexible benefits software helps companies offer competitive benefits packages while reducing costs and inefficiencies, by giving employees more choice and flexibility in how they spend their benefit allowances. The platform also saves HR professionals countless hours managing and supporting various point solutions.

Using Forma, companies can select from a suite of products that include Lifestyle Spending Accounts, Health Spending Accounts, Health Reimbursement Arrangements, Flexible Spending Accounts, and more to design and deliver customized benefits programs–all through a single platform. Employees then have three choices to spend account funds: The Forma Store with discounted products and services, The Forma Visa Card, or claim reimbursement backed by Forma’s world-class member support team.

Forma has helped hundreds of the world’s most admired companies, including Stripe, Zoom, Lululemon, and Affirm, design and support flexible, inclusive benefits programs for nearly a million employees. And, we are seeing great success with 75 NPS, and 98 CSAT ratings from members.

Forma is backed by Emergence Capital and Ribbit Capital and has received numerous awards for its exponential growth, its software innovation, and as a “Great Place to Work.” 

About the Role

We are seeking a driven, fun, and collaborative Commercial Account Executive to help us dominate the Benefits Flexible Spending market. You will become an important member of our Revenue organization, leading cross-functional teams throughout the sales process by engaging with benefits brokers and customers to understand their needs and architecting solutions to solve those needs through Forma’s product capabilities. 

This is a full sales cycle role that requires outbound business development experience through the benefit broker channel and direct to customer. The ideal candidate will  have demonstrated the ability to follow a repeatable sales process in order to skillfully guide customers to closed won.

This is an exciting opportunity for the right candidate to help continue the amazing growth story at Forma. You’ll join a team that works hard, doesn’t take themselves too seriously, but is serious about helping each other be world class in everything they do.

You Will

  • Partner with the Business Development and Marketing teams to create a territory strategy, as the owner of your business, that will drive pipeline growth.

  • Be an industry and  product expert that can act as a thought leader and consultant who connects the dots between customers' business problems and Forma’s solutions

  • Be a compelling storyteller who can clearly articulate Forma’s differentiators and our value specific to each unique business interaction.

  • Maintain a deep understanding of both competitive and complementary technologies and how to position Forma in critical negotiations 

  • Follow a sales process and demonstrate operational rigor to drive predictable revenue

  • Collaborate and orchestrate resources from Sales Engineering, Onboarding, Customer Success, and Executive stakeholders to co-sell and meet revenue targets.

  • Work remotely with the ability to travel up to 30% for client meetings.

Preferred Skills

  • 2+ years of experience working in a full cycle sales role with experience closing $50-$100K deals.

  • Deep experience selling into Benefits Brokers and Human Resources at the executive level, specifically Heads and VP’s of Total Rewards and Benefits.

  • Experience with LSA, FSA, and HSA products

  • Experience with enterprise level deals,  long sales cycles and complex buying dynamics

  • Demonstrated business acumen, discovery skill and conversational intelligence

  • Demonstrated ability to distill complex information and articulate value to customers

  • Excellent communicator, presenter and negotiator

  • Demonstrated ability to follow a repeatable sales process 

Benefits and Perks

  • Remote-first working environment

  • Medical, dental and vision insurance plans

  • Employee wellness program

  • One-time home office stipend

  • 401(k) savings plan

  • Flexible PTO policy

  • 12 weeks Parental Leave + 4 additional weeks for the Birthing Parent

Our target cash compensation for this role is $80,000/yr base salary and $80,000/yr commission variable, for an OTE of $160,000. Final offer amounts are determined by multiple factors including candidate experience and expertise, which may vary the amount listed above.

At Forma, we value diversity, and always treat all employees and job applicants based on merit, qualifications, competence, and talent. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.

Duties and responsibilities may not all be covered in the description, or may change over time at the discretion of Forma. You're encouraged to apply even if your experience doesn't precisely match the job description. Your skills and passion will stand out—and set you apart—especially if your career has taken some extraordinary twists and turns. At Forma, we welcome diverse perspectives, and people who think rigorously / aren't afraid to challenge assumptions. Join us!

Forma Glassdoor Company Review
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Forma DE&I Review
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CEO of Forma
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Jason Fan
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Average salary estimate

$120000 / YEARLY (est.)
min
max
$80000K
$160000K

If an employer mentions a salary or salary range on their job, we display it as an "Employer Estimate". If a job has no salary data, Rise displays an estimate if available.

What You Should Know About Account Executive, Commercial, Forma

Are you ready to make a significant impact in the employee benefits landscape? Forma is on the hunt for a dynamic and driven Commercial Account Executive to join our vibrant team. Since 2017, Forma has been revolutionizing the way companies approach employee benefits, making them more flexible and aligned with employee needs. In this full sales cycle position, you will engage with benefits brokers and customers to ensure they utilize Forma's innovative solutions. You don't just sell; you tell compelling stories about how Forma changes the game for its clients, including household names like Stripe and Zoom. You'll partner closely with our Business Development and Marketing teams to strategize and grow your territory, and you'll have the opportunity to work with cross-functional teams to seamlessly navigate sales processes. We're looking for a candidate who has a knack for business development and the ability to connect the dots between client needs and our suite of benefits software. If you have a track record of closing substantial deals and thrive on collaboration—yet enjoy a fun, casual atmosphere—Forma is the place for you. Plus, you’ll enjoy the flexibility of a remote-first working environment, a competitive compensation package, and a supportive culture that champions growth. Join us at Forma, and let’s transform employee benefits together!

Frequently Asked Questions (FAQs) for Account Executive, Commercial Role at Forma
What are the main responsibilities of the Account Executive, Commercial at Forma?

As an Account Executive, Commercial at Forma, your main responsibilities will include leading the sales process by engaging with benefits brokers and customers, understanding their unique needs, and architecting solutions using Forma’s flexible benefits software. You will also work closely with the Business Development and Marketing teams to devise effective territory strategies, act as a thought leader in the industry, and maintain a deep understanding of competitive technologies.

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What qualifications are required for the Account Executive, Commercial role at Forma?

The ideal candidate for the Account Executive, Commercial role at Forma should have at least 2 years of experience in a full-cycle sales role, specifically focusing on closing $50-$100K deals. Effective communication skills, business acumen, and the ability to follow a structured sales process are key qualifications. Additionally, experience selling into Benefits Brokers and Human Resources at the executive level is highly preferred.

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How does the compensation work for the Account Executive, Commercial position at Forma?

For the Account Executive, Commercial position at Forma, the target cash compensation includes an $80,000 per year base salary and an additional $80,000 in variable commission, leading to an On-Target Earnings (OTE) of $160,000. Compensation can vary based on experience and expertise, ensuring fairness and recognition of the value you bring to the role.

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What should a candidate expect in terms of company culture at Forma?

At Forma, the company culture is centered around collaboration, fun, and professionalism. Employees are encouraged to support one another and bring their unique perspectives to the table. The team works hard but maintains a light-hearted atmosphere, making it an ideal place for individuals who want to excel while enjoying their work environment.

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What benefits and perks do Account Executive, Commercial employees receive at Forma?

Forma offers a comprehensive benefits package that includes medical, dental, and vision insurance, an employee wellness program, a one-time home office stipend, a 401(k) savings plan, and flexible PTO. Additionally, Forma provides generous parental leave options, further showcasing its commitment to employee well-being.

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Common Interview Questions for Account Executive, Commercial
What strategies do you use to engage with benefits brokers as an Account Executive?

When engaging with benefits brokers, it’s vital to build trust and establish rapport early on. I often tailor my approach based on their specific needs and pain points, presenting how Forma’s solutions can address those challenges. I also focus on demonstrating thought leadership by sharing insights and industry trends relevant to their business.

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Describe your experience with full-cycle sales and how it applies to the role at Forma.

In my previous roles, I have successfully managed the full sales cycle from prospecting to closing deals. I ensure I understand the customer’s journey, adapting my approach at each stage to meet their needs. At Forma, I plan to utilize this experience to drive predictable revenue while fostering long-term relationships with clients.

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How do you handle objections during the sales process?

Handling objections is about active listening and empathy. I acknowledge the client's concerns and then present data and testimonials that demonstrate how Forma can effectively address those issues. My goal is to turn objections into opportunities for further discussion.

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Can you provide an example of a complex sales situation you managed successfully?

Absolutely! Recently, I worked on a deal with an HR firm that had multiple stakeholders involved. To navigate the complexity, I organized a series of meetings to ensure everyone’s concerns were addressed and tailored my presentations to highlight how Forma’s solutions aligned with their diverse needs. This approach helped us close the deal successfully.

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What tools and technologies do you leverage in your sales process?

I utilize CRM software for tracking leads and managing customer relationships, but I also rely on data analytics tools to gain insights into customer behaviors. Being knowledgeable about industry-related technologies allows me to position Forma effectively during negotiations.

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What do you consider key indicators of success in an Account Executive role?

Key indicators of success in an Account Executive role include achieving or exceeding sales targets, maintaining strong relationships with clients, and receiving positive feedback from both clients and colleagues. Successful candidates also demonstrate consistent follow-up and a proactive approach to uncovering new opportunities.

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How do you keep yourself motivated in a remote working environment?

Staying motivated in a remote environment requires setting clear goals and maintaining a structured routine. I also invest time in professional development and regularly connect with my team to share successes and challenges. This not only motivates me but keeps the collaborative spirit alive.

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How do you plan and prioritize your sales activities?

I begin by conducting a thorough analysis of my sales pipeline and assessing which leads require immediate attention. I utilize a prioritization matrix to identify high-impact activities and ensure that I allocate my time effectively to maximize results. Staying organized helps me maintain focus.

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How would you approach a new territory as an Account Executive?

Approaching a new territory involves extensive market research to understand client needs and preferences. I also reach out to local networks to build connections. My strategy is to create a tailored plan that considers local dynamics while aligning with Forma’s value proposition.

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What makes you a good fit for the Account Executive role at Forma?

I believe my combination of sales experience, understanding of the employee benefits landscape, and my collaborative mindset make me a strong fit for the Account Executive role at Forma. I am passionate about helping organizations provide better benefits, and I resonate with Forma's mission to innovate in this space.

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Forma is the life benefits platform that makes it easy to design and scale flexible benefits programs— whether your workforce is onsite, remote, or global. With flexible benefits that are delightful, distinct, and designed to support people’s well...

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BENEFITS & PERKS
Dental Insurance
Paid Holidays
FUNDING
SENIORITY LEVEL REQUIREMENT
TEAM SIZE
EMPLOYMENT TYPE
Full-time, remote
DATE POSTED
December 18, 2024

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