This was a very interesting search from the start. We initially contacted the CEO of this mobile payments vendor on a referral and were rejected as she wanted a firm based in Boston. Four months later after going through 3 contingency and 1 retained recruiting firm with no results, we were brought in to handle the search for an Executive Vice President.
Engaging the Mobile Payments Executive Decision Makers
Working with the Americas CEO and a SVP from the parent company, we developed the Candidate Profile based on the Performance Objectives of the role rather than a job description. We focused the search strategy on what the candidate needs to do to be successful in mobile payments business development and product management, not just the responsibilities.
Mobile Payments EVP Search Strategy
Our task was to identify and recruit a seasoned executive with a solid track record in Business Development and Product Management for a mobile payments processer or mobile banking platform vendor. The objectives for this role in mobile payments included engaging with smartphone OEM and ODM plus MVNO in both North America and LATAM.
Ensure both smartphone vendor and mobile network operator acceptance of the future strategy, negotiate all commercial and contractual elements, and recruitment of a solid staff to build the Americas mobile payments business.
Unlike most retained search firms who are paid the full fee regardless of whether the position is filled, our performance based retained search model was welcomed by the client. After the deposit, we get paid the 2nd portion when the client approves the Short List (with complete dossiers). After acceptance, the final internal interview and assessment by our team is performed. Final payment occurs upon the hire of our candidate as EVP for Mobile Payments.
Results of the Mobile Payments EVP Retained Search
Within 3 weeks we delivered a short list of 3 candidates. One was knocked out right away when a new VP of Software Engineering revealed he had worked with the candidate before and did not recommend moving forward. The two remaining candidates for the EVP Mobile Payments were given a situational scenario and hypothetical mini project, the answers videotaped for the final interview, and assessment by a Managing Partner. After a series of two interviews for both at the mobile payments client facility, an offer was negotiated accepted by the candidate that NextGen Global preferred.
