Business Development

About Paxos
Paxos' mission is to modernize finance by mobilizing assets at the speed of the internet.
 
Paxos is building a future where all assets-- from money to gold to securities--will be digitized and move instantaneously, 24/7. Settlement risk will cease to exist, so trillions of dollars of trapped capital can go to work in a global, frictionless economy.
 
Today, as the first regulated Trust company with blockchain expertise, Paxos is uniquely positioned to mobilize and custody them digitally.
 
Visit www.paxos.com for more information on Paxos and its institutional-grade products like Paxos Standard token and Paxos Confirmation Service for precious metals. Visit www.itbit.com for the crypto-asset exchange and related services including escrow, custody and OTC trading.

The Senior Business Development Executive will be responsible for driving customer engagement and relationships and building industry relationships.

We hold ourselves to a very high hiring bar. To achieve this, we think of roles first and foremost as outcomes to be achieved, not simply a description of tasks. We have developed what we call a ‘Success Profile’ for this role, which has two sections:

  • Outcomes: Meaningful and measurable work products that have a significant impact on the team and business over a defined timeframe.

  • How to Achieve Outcomes: We have a strong point of view on how this role will succeed in achieving outcomes at Paxos. So, we have taken the Operating System of Paxos - our values - and made it relevant to this role.

Outcomes
  • Use Case Discovery: Conceive and execute a data-backed approach to identify and evaluate business opportunities in the Securities ecosystem that can turn into product prototypes. Success is measured by the reliability of the opportunities identified to turn into products that solve problems in the ecosystem and advance the Paxos mission.

  • Sustainable Business Growth: Partner cross functionally with internal teams (Legal, Compliance, Marketing etc.) to develop a replicable framework to engage potential new customers for validated use cases. Success is measured by the ability of the framework to reduce cycle times to engage new customers as well as their applicability for future client engagement.

  • Ecosystem Development: Partner with the Head of Marketing to design and execute a sophisticated approach to engage key players in the ecosystem that can serve as an advisory group on long term growth of the business. Success is measured by the ability of this initiative to aid both business growth as well as serve as a product feedback loop.

  • Sales Organization Build: Partner with the People Team to hire and successfully onboard a sales organization for the Securities business upon reaching Product-Market fit. Success is measured by hiring and onboarding a high performing sales organization that can scale the Securities business.

How to achieve the Outcomes
Technical Acumen Required:

  • Track record of achieving success in selling complex products with long sales cycles

  • An understanding of the agile product development cycle and how to drive external relationships to accommodate discovery.

  • Ability to leverage a strong track record in building client relationships at the executive level from other domains/verticals to build a playbook for Paxos and its use cases.

  • Ability to quickly learn complex topics, solutions and business problems and success in driving sales across these new topics.

Commitment to Excellence:

  • Ability to comprehensively cover all aspects of our product during an engagement of external customers and stakeholders.

  • Ability not only to serve the needs of your role, but engage external parties to help build the product through discovery.

  • Ability and willingness to learn complex and technical concepts in order to engage external stakeholders with the least amount of resources.

Search for the Truth:

  • Ability to understand the unique challenges Paxos faces and not just apply a standardized playbook to the situation.

  • Ability to engage customers and find their true motivations and pain points in order to build a product that addresses customer needs.

  • Ability to find the right decision maker in a complex, large organization.

Be an Owner:

  • Bias towards owning sales outcomes even though you don’t control all the aspects of the decision.

  • The instinct towards long-term customer success and not short-term results. 

  • You care about the product and its ability to solve customer pain points.

Real-time Candor:

  • Ability to give tough feedback about the product to internal teams based on customer conversations.

  • Ability to be direct, concise and clear with customers during difficult engagement periods.

Desired Experiences

  • Experience building and growing new businesses in complex ecosystems (emerging technology, regulated businesses etc.)

  • Experience in leading business development (including conception and execution of engagement frameworks) for Product-led technology firms is a plus.

  • Understanding of the financial services space (with emphasis on capital markets) is an advantage, but not required.

Paxos is an equal opportunity employer. It does not discriminate on the basis of sex, age, color, race, religion, marital status, national origin, ancestry, sexual orientation, physical and mental disability, medical condition, genetic information, veteran status or any other basis protected by federal, state or local law.

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