Director, Price OptimizationJob ID DIRPR05741 Date posted 11/07/2019 Location Schiller Park , IL Position Type Full-Time
The Director, Price Optimization will be responsible for providing strategic and technical leadership in developing a long-term capability roadmap and executing the overall vision to advance the Revenue Management system. The Revenue Management System is designed to provide forward-looking demand at each of our venues based on market demand and supply using internal and external data sources. Utilize the RMS to forecast revenue on a daily, weekly, or monthly level for each venue. In addition, this position will be responsible for pushing the RMS to provide optimal pricing recommendations to maximize yield and business profitability. This position will report to the VP, Revenue Management.
Key Job Responsibilities
Pricing and Revenue Management System
- Lead, and evolve PSAV’s current pricing process to a dynamic, flexible pricing & profit optimization Revenue Management System (“RMS”).
- Leverage machine learning capabilities and new age analytical capabilities to provide strategic and technical leadership on the development of the RMS and provide recommendations to the executive team around platforms to leverage.
- Own the RMS from data processing, training, optimization to real-time monitoring and maintenance.
- Partner with the business and the IT organization to identify and prioritize opportunities to drive increased yield management and inventory controls.
- Conduct competitive analysis and market research on pricing.
- Support the annual pricing process while setting up the long term RMS.
- Provide a high level of influence and change management leadership in implementing RMS.
- Drive test and learn capabilities within the organization to validate the accuracy of the RMS during the developmental stage and beyond.
- Oversee, support and lead the implementation of the RMS across the family of companies.
Reporting and Training
- Provide metrics to support the success and investment in the RMS.
- Develop any additional reporting needed within the RMS or externally to support the system.
- Drive the training and adoption of the new RMS across the family of companies.
- Hire, develop, lead and motivate a qualified staff of Revenue Management analysts.
- Promote and drive a professional team environment resulting in highly engaged and impactful team members.
- Manage the human resources needs of the team including, but not limited to: training, coaching, professional development, performance management, salary administration and discipline.
- MS / PhD in a quantitative discipline i.e. Computer Science, Mathematics, Statistics, Operations Research, Economics, Artificial Intelligence (AI), etc. preferred.
- 8+ years’ of working experience in the field of revenue management or price optimization in hospitality, travel or other relevant industries.
- Extremely analytical and product driven with a strong knowledge of analytics tools and systems
- Strong ability to think creatively on Revenue Management system/strategy, innovating on conventional processes and practices.
- Excellent verbal and written communications skills at all levels within the organization, including senior leadership.
- Ability to work cross-functionally to influence decision makers across the organization.
- Results-oriented individual who can assess situations through an analytical mindset.
- Comfort working in ambiguity with a bent towards fast execution and iteration.
- Decision Quality
- Communicates Effectively
- Action Oriented
- Builds Networks
- Manages Ambiguity
- Strategic Mindset
Early Career Development Programs
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