Personal BD

Question 1

Why BD?

Answer 1

• It’s the function most in line with my past experiences - I managed partner relationships, owned multiple projects simultaneously, and ran the deal process from start to finish for complex, multi-million dollar transactions
• It suits my personality and skillset - I enjoy working with people, especially towards win-win situations, and I have no problem running analyses and discussing the results with senior stakeholders, both internal and external
• A lot of it can be uncharted territory - the best deals have never been done before
• And a small, but effective, BD team can have a HUGE impact on the organization

Question 2

Similarities between Banking and BD

Answer 2

A muni bond deal was really a partnership with the municipality, where we added value in creation of the product (bonds) and getting it to the end customer through our distribution network

• We weren’t paid a flat fee, but a percentage of the deal, and only if it closed
• We needed their raw resources (revenue streams) and they needed our product , sales, and marketing teams
• Bankers were the relationship managers, who worked with product to optimize the offering based on on knowledge of our partner, and of the general market environment
• The deals were often very complex, often spanning multiple months or even more than a year
• There were lots of lawyers involved, negotiations for fee, contracts, and other key details
• And I could be working on multiple deals at any single time
• When I wasn’t working on deals, I was searching for opportunities for our firm to add value, creating pitches, and then sending them in or visiting clients and presenting them ourselves
• Everything focused on a win-win situation, and an exchange of value

Question 3

My experience relevant to BD

Answer 3

• Owned all aspects of the deal process, including impact analyses, due diligence, partner communications, coordinating internal and external teams, overseeing execution of key legal and operational deal requirements, and collaborating with product team
• Identified value-add opportunities and composed comprehensive pitch materials for potential deals
• Managed multiple projects for senior stakeholder simultaneously; managed expectations and shifted prioritizations based on new developments or needs
• Travelled to client meetings to pitch to key decision makers with senior bankers, and hosted clients/stakeholders in our NYC offices during deal launches

Question 4

Why OpenGov?

Answer 4

• Greatest match between my experience and what I want to do going forward
  
  • SLGS & Deals > Startups and BD
• Much greater ability to benefit our clients via tech, as compared to financings in banking
  
  • clients deal with OG related issues more than
    financings, bankers can save money OG can put it to
    use
• Being at a start-up means I can have a greater impact
  
  • wear many hats; BD, CD, Sales
• Culture & People
  
  • munis were most ‘mission driven’ banking, but still
    banking; Greg really sold it, enjoyed convo w/ Claudia
    because she was so passionate about it