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Managing Director, Strategic Relations

What You'll Do This role develops relationships with retirement plan consulting firms and individuals within those firms. It is a strategic partner to our teams to generate growth in new sales and retain our existing relationships within the consulting channel. This role increases the visibility of solutions that are a good fit for the consultants clients. Here are few examples of the things you’ll do:• Heighten awareness of our services through networking and active participation through sales/service meetings and industry events.• Client Retention Strategy for sales presentations• Building relationships with designated consulting firms.We take pride in being a purpose-led firm, motivated by our mission to make financial security accessible to all. Our mission, integrity, and customer focus have made us a trusted leader for more than 140 years!Who You Are• Bachelor’s degree or equivalent and 15+ years’ experience selling employer-sponsored retirement plans, with focus in the $200M+ segment• Strong understanding of qualified and non-qualified retirement plans, specifically in the large and institutional markets• Existing relationships with benefit consulting firms as well as large and institutional retirement firms• Proven ability to manage multiple partner relationships and sales processes (RFPs)• Must possess strong communication and organizational skills, interpersonal and relationship-building skills, problem-solving skills, and leadership skills.• Strong knowledge of the competitive landscape in the large and institutional retirement plan market• Proven ability to think critically and strategically to uncover incremental revenue streams for Principal and its strategic partners• Significant overnight travel required, up to 50%.• This position requires successful completion of motor vehicle driving record check.Skills That Will Help You Stand Out• Experience selling across retirement, asset management and employee benefit marketsLicenses Required within 5 months of employment:• Successful Registration as an Investment Company Products/Variable contracts Limited Representative (FINRA Series 6 or equivalent).Salary Range InformationSalary ranges below reflect targeted base salaries. Sales positions are eligible for sales incentives, and in some instances a bonus plan, whereby total compensation may far exceed base salary depending on individual performance. Actual compensation for all roles will be based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer.Salary Range (Non-Exempt expressed as hourly; Exempt expressed as yearly)$137000 - $185000 / yearTime Off ProgramFlexible Time Off (FTO) is provided to salaried (exempt) employees and provides the opportunity to take time away from the office with pay for vacation, personal or short-term illness. Employees don’t accrue a bank of time off under FTO and there is no set number of days provided.Pension EligibleYesAdditional InformationLocationThis is a remote opportunity.Work Authorization/SponsorshipAt this time, we're not considering candidates that need any type of immigration sponsorship (additional work authorization or permanent work authorization) now or in the future to work in the United States? This includes, but IS NOT LIMITED TO: F1-OPT, F1-CPT, H-1B, TN, L-1, J-1, etc. For additional information around work authorization needs please use the following links.Nonimmigrant Workers and Green Card for Employment-Based ImmigrantsInvestment Code of EthicsFor Principal Global Investors positions, you’ll need to follow an Investment Code of Ethics related to personal and business conduct as well as personal trading activities for you and members of your household. These same requirements may also apply to other positions across the organization.Experience PrincipalWhile our expertise spans the globe, we're bound by one common purpose: to foster a world where financial security is accessible to all. And our success depends on the unique experiences, backgrounds, and talents of our employees – individually and all of us together. Explore our core values, benefits and why we’re an exceptional place to grow your career.Principal is an Equal Opportunity EmployerAll qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.Posting WindowWe will accept applications for 3 full days following the Original Posting Date, after which the posting may remain open or be removed based upon applications received. If we choose to post the job again, we will accept additional applications for at least 1 full day following the Most Recently Posted Date. Please submit applications in a timely manner as there is no guarantee the posting will be available beyond the applicable deadline.Original Posting Date12/20/2024Most Recently Posted Date12/20/2024LinkedIn Remote Hashtag#LI-Remote
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Average salary estimate

$161000 / YEARLY (est.)
min
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$137000K
$185000K

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What You Should Know About Managing Director, Strategic Relations, Principal Financial Group

Are you ready to take your career to the next level? As the Managing Director, Strategic Relations at Principal, based in Des Moines, IA, you'll play a pivotal role in shaping the growth of the company by developing key relationships with retirement plan consulting firms. Here, your primary aim will be to not only bolster our sales efforts but also to ensure that our existing client relationships within the consulting channel continue to thrive. We are passionate about making financial security accessible to everyone, and your role will be crucial in raising awareness of our comprehensive solutions at industry events and through networking. You will implement client retention strategies during sales presentations while nurturing relationships with designated consulting firms. With over 140 years of trust and integrity, we are looking for someone with a bachelor's degree and 15+ years of experience specializing in employer-sponsored retirement plans, particularly within large institutional markets. You'll need to demonstrate superior communication and relationship-building skills, as well as a strong understanding of both qualified and non-qualified retirement plans. Flexibility is key, as this position will require occasional overnight travel. If you're ready to drive incremental revenue streams and represent a forward-thinking firm, we want to hear from you!

Frequently Asked Questions (FAQs) for Managing Director, Strategic Relations Role at Principal Financial Group
What are the key responsibilities of a Managing Director, Strategic Relations at Principal?

The Managing Director, Strategic Relations at Principal focuses on developing relationships with retirement plan consulting firms and enhancing client retention strategies. This role also involves networking at industry events, increasing awareness of Principal's services, and managing the sales process with various partners.

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What qualifications are needed for the Managing Director, Strategic Relations position at Principal?

Candidates for the Managing Director, Strategic Relations position at Principal should possess a bachelor's degree, along with 15+ years of specific experience selling employer-sponsored retirement plans, particularly in the $200M+ segment. Existing relationships with benefit consulting firms and strong organizational skills are also essential.

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Is travel required for the Managing Director, Strategic Relations role at Principal?

Yes, the Managing Director, Strategic Relations position at Principal requires significant overnight travel, with an expectation of up to 50%. This travel is essential for networking and relationship-building with consulting firms.

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What skills will help a Managing Director, Strategic Relations stand out at Principal?

In addition to the required experience and qualifications, skills that will help a Managing Director, Strategic Relations stand out at Principal include a strong understanding of the competitive landscape in large institutional markets, problem-solving skills, leadership capability, and the ability to think critically to identify revenue opportunities.

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What is the salary range for the Managing Director, Strategic Relations role at Principal?

The salary range for the Managing Director, Strategic Relations position at Principal is between $137,000 and $185,000 per year. It is important to note that sales positions may also be eligible for sales incentives or a bonus plan based on individual performance.

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Common Interview Questions for Managing Director, Strategic Relations
Can you describe your experience with retirement plan consulting and how it relates to this role?

When answering this question, highlight your relevant experience selling retirement plans and your established relationships with consulting firms. Discuss specific achievements and how they have prepared you for the responsibilities of Managing Director, Strategic Relations.

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What strategies have you successfully implemented to enhance client retention?

To effectively respond, outline successful client retention strategies you’ve used in the past, emphasizing results and how they can be adapted to Principal’s goals. Share examples of challenges faced and how those strategies made a difference.

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Describe a time when you experienced difficulties while managing multiple partner relationships. How did you handle it?

Use this opportunity to demonstrate your organizational and problem-solving skills. Detail the specific challenges you faced in managing relationships and explain the proactive steps you took to resolve those issues successfully.

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What do you perceive as the biggest challenges in the retirement plan market today?

When addressing this, showcase your knowledge of the retirement plan market. Discuss trends that could impact strategic relations and how your foresight and strategies can help the company navigate these challenges.

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How do you approach networking within the financial services industry?

Share your networking philosophy and specific actions that have proven effective for you. This could include attending industry events, leveraging social media, or building relationships through mutual connections to advance business goals.

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What does integrity in business mean to you, especially in this role?

Reflect on your understanding of integrity and why it is vital in a role that requires trust and relationship-building. Use examples from your career where integrity has played a significant role in your professional decisions.

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How do you prioritize your tasks when facing tight deadlines?

Discuss your time management skills and give examples of how you've successfully prioritized tasks in a high-pressure environment. Highlight tools or techniques that help you stay organized and focused.

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How would you enhance the visibility of Principal's services in the market?

Articulate your strategic thinking by sharing past experiences where you've effectively increased visibility. Discuss marketing tactics, partnerships, or outreach strategies that align with Principal's mission and values.

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What role does technology play in your approach to sales and relationship management?

Talk about how you leverage technology tools for client relationship management and sales processes. Share examples of systems you've used and how they've contributed to your success in previous roles.

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Why do you want to work as a Managing Director, Strategic Relations at Principal?

Be honest and enthusiastic about your interest in Principal. Share how the company's mission aligns with your values and discuss how your skills and experiences would help you contribute positively to the organization.

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Principal is a global financial services company passionate about improving the wealth and well-being of families and communities. We help more than 55 million customers worldwide plan, protect, invest, and retire—while reimagining a more purpose-...

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Full-time, remote
DATE POSTED
December 23, 2024

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