VP Business Operations
11 - 15 years experience •
VP Business Operations
Location: Westlake Village, CA
Our client helps people facing tough decisions by providing services and financial solutions to the community of interests impacted by personal injury accidents. The brand is the nationwide leader in the purchase and management of injury related medical account receivables, and the largest national provider of consumer pre- settlement legal funding.
After a recent merger they created a powerhouse that can service the needs of medical providers, attorneys and the people they serve whose lives have been impacted by an unexpected and disruptive injury. The company utilizes proprietary analytics and a sophisticated underwriting process to originate an attractive portfolio of small dollar plaintiff and medical receivables on a nationwide basis.
These business lines are promising niches within the broader specialty finance market that expect combined revenues of over $70M on originations of $130M in 2018 with plans to double by 2022. The company originates rare specialty finance assets with exceptional underlying unit economics that are uncorrelated to the broader economic cycle.
The VP of Operations reports directly to the Chief Operating Officer and on a dotted line to the CEO and will oversee the existing Operations Teams (e.g. Account Management, Due Diligence, Funding, Billing & Collections), including 3-4 direct management reports and a staff of 50. These groups represent the lion* s share of employees in the Westlake office, so this role will have considerable day-to-day general management responsibility for overall office culture and morale.
The VP of Operations will be based in Westlake Village, CA and join a leadership team that believes in leading by example and modeling a straightforward, culture of candor, innovation, and customer focus that fosters a culture of positivity that supports people and change as the business evolves, grows and matures. Our client views its operations as a strategic component of the business that is expected to work cross-functionally and relentlessly pursue ways to improve quality and services to customers through continuous process improvement in order to support rapid scaling of the business. The VP of Operations is a unique high impact, high profile position requiring the ability to operate with significant autonomy, think strategically and effectively communicate with peers and managers across all functions. It is designed as an exciting entry point into the organization where the right leader can lead significant change. The VP of Operations will lead and motivate a capable and tenured team through a maturation of business process in a high-growth environment and will be expected to optimize team performance through effective communication, change management, mentoring, performance management, rewards, recognition, and coaching.
The team is comprised of strong managers, over the core business functions of account management, product, intake / customer service, and billing and collections and approximately 50 individuals in the West Lake Village location. This operations team supports the rapid growth of the medical lien products and associated services. These are products sold and marketed through relationships with independent medical providers, typically unaffiliated with a hospital system (MRI centers, physical therapy chains, surgery centers) and personal injury attorneys that share a common client base with these medical providers.
The initial focus will be on evaluating the current state end-to-end processes and workflow from first customer contact to end of asset life. This will entail becoming an expert in the operating model, developing improvement recommendations and leading the implementation of solutions to optimize across the function with the goal of creating an efficient, cost effective and scalable operations function. The successful candidate will be strategic, analytical and execution oriented, leading innovation and process improvement to improve the capability and performance of the organization.
This leader will partner and collaborate with his/her managers and peers to solve business problems, communicate regularly with executive team members and develop close relationships with Marketing, IT, Finance and Legal teams as well as pre-settlement operations in Rosemont.
As part of the senior management team the VP of Operations will have a broad set of responsibilities that will encompass the following:
* Provide leadership and be an exceptional manager of people, developing talent, setting direction and deploying resources effectively.
* Assess current operations performance and processes by program, product and market segment, recommend and implement improvements to enable scalability, cross-functional integration and efficiency.
* Ensure that changes cascade through systems and operations smoothly, are monitored for appropriate outcome and are modified as needed.
* Manage operations to achieve a high level of efficiency and customer service while effectively controlling cost, and manage
* Regularly communicate with customers (attorney* s, providers, etc.) in support of sales efforts, customer service, relationship building and problem solving in order to ensure high customer satisfaction and insight into operational process improvement opportunities.
* Craft and communicate status and projects for and Operational activities to executives.
* Work with the business analytics team to source data, compile data, and determine impacts and actions necessary to assess and maintain operational performance.
* Assist, review and approve the Operations budget and expense process improvement, change management and innovation initiatives.
* Establish KPIs and reporting/analytics to measure performance and create accountability.
* Drive the research and deployment of solutions and corresponding business processes to enhance efficiency.
* Determine the appropriate head count and structure for the Operations organization and competitive compensation plans in order to successfully scale operations to support a growing business.
* Create a high-performing team, leading all aspects of key talent retention, skills development, performance management and staffing (recruiting, hiring and training). Educational Requirements Bachelor* s degree required. An MBA or advanced degree preferred
Experience and Qualifications
Given the company* s size, financial leverage, anticipated growth and fast-paced environment, the organization requires an VP of Operations who is thoughtful, high energy and can partner with the COO and leadership team to lead the organization to the next level of maturity and scale.
Part of our clients success is nurtured by a hands-on work environment where everyone is accountable.
The VP of Operations will have a track record of success in working with and leading change in high growth mid-size business, leading the improvement and maturity of business process required to scale the business platform. Prior experience in acquisitive environments is a plus.
10 + years in financial services, healthcare services, technology-enabled business services, Insurance, Specialty Finance or similar environments where technology and process improvement have led to greater insights and business efficiency.
At least 7 years leadership experience managing managers and team of 50+ within mid to large companies.
He/she must be process and metrics oriented, well-organized and be highly motivated, self- directed with the ability and desire to have real impact on an organization.
Strong organizational, analytical and interpersonal skills.* Technical proficiency, project management, curiosity, and ability to influence others.
Ability to provide advice/direction in primary areas of expertise, contribute to strategically and execute change effectively to drive business results.
Prior experience working within an entrepreneurial, acquisitive, fast growth company is a distinct plus. While not required, previous experience working within a venture-backed or private equity backed company would be advantageous.
The company is looking for a highly responsive, goal-oriented individual who will bring significant energy and drive to directly impact a growing business.
Must live near or relocate to the Westlake Village, CA area.
The VP of Operations will demonstrate a variety of leadership competencies and will exhibit the following leadership characteristics:
Understanding the Business
Will get * hands dirty* to understand the nitty gritty of the business, how underwriting works, and how clients perceive the brand, the company* s operations/processes and technology assets.
Creating the New and Different
Is an effective strategist full of ideas and possibilities; sees multiple futures; has broad interests and knowledge; can create, execute and bring vison to reality.
Keeping on Point
Can quickly separate the mission-critical from the nice to dos and the travails; quickly senses what's the next most useful thing to work on; focuses on the critical few tasks that really add value.
Getting Work Done Through Others
Manages people well; gets the most and best out of the people he/she has; sets and communicates guiding goals; measures accomplishments, holds people accountable, and gives useful feedback; delegates and develops; keeps people informed; provides coaching for today and for the future.
Is skilled at getting individuals, teams, and an entire organization to perform at a higher level and to embrace change; negotiates skillfully to achieve a fair outcome or promote a common cause; communicates a compelling vision and is committed to what needs to be done; inspires others; builds motivated, high-performing teams; understands what motivates different people.
Acting with Honor and Character
Is a person of high character; is consistent and acts in line with a clear and visible set of values and beliefs; deals and talks straight; walks his/her talk; is direct and truthful but at the same time can keep confidences.
Keeps track of what he/she and his/her direct reports need to accomplish, and project manages the team to deliver the desired outcomes by the desired dates.
Selfless leader who acts on behalf of the best interests of the business and its stakeholders (employees, customers, shareholders); able to handle critical feedback and thinking; takes role and responsibility seriously but has a good sense of humor about his/herself.
The VP of Operations will receive a compensation package, including base salary and bonus that is competitive and commensurate with experience.