Head of Pricing and Revenue Management

  • Job Reference: JOB-8369
  • Date Posted: 9 September 2022
  • Recruiter: Ford & Stanley
  • Location: Wales, United Kingdom
  • Salary: £60,000 to £65,000
  • Sector: Train Operations
  • Job Type: Permanent

Job Description

Ford & Stanley Executive Search – Specialists in Executive Interim and Permanent appointments to the UK Rail Industry, have been retained on the search for a Head of Pricing and Revenue Management on behalf of our client Transport for Wales.   

Client Opportunity Statement

“We are developing a strategy to balance the desire to drive incremental revenue growth, from pricing and revenue management activity, without negatively impacting the overall customer experience.”

“We need to ensure that industry level agendas related to fares, retail and ticketing are understood and that opportunities to deliver improvements in this area are capitalised upon. Why Is this difficult?

Working across a complex organisation through periods of change, this change will be very public and political. Ensuring that the social and political requirements of Welsh Government are understood and factored into the pricing and revenue management strategy will be important”

“A challenging, rewarding and unique opportunity that is sure to become a career highlight with the opportunity to deliver significant change across Wales and the borders”

Candidate Essentials:

  • Rail Industry background preferred, however transferable industries such as wider transport sectors including aviation, bus/coach will be considered. We will also consider those from the hospitality sector due to transferable skills and relevance of revenue management techniques.
  • A strategic individual who will lead the design and implementation of new revenue management processes and systems.
  • Demonstrable leadership skills with experience of setting strategic direction and managing performance to meet business requirements.
  • Ability to influence, improve, drive change and delivery of organisational plans or strategies with ability to show proof of previous experience of this and implementation into a transport organisation.
  • Analytical and data focused – Ability to effectively communicate data and information to colleagues and stakeholders.
  • Strong work ethic, willing to be dynamic and innovate. Up for a challenge
  • Experience of creating clear revenue growth plans for an organisation.
  • The ideal candidate could be an experienced ‘head of’ OR ‘manager of’ ready for a step up.

Candidate Desirables / Nice to haves:

  • Ability to identify market trends to develop improvements to demand and revenue growth strategies and plans.
  • Understanding of fares and ticketing regulation, industry systems, processes, and engagement requirements.
  • Able to interpret and effectively communicate information and data to colleagues and stakeholders.
  • Demonstrable working knowledge of the Wales & Borders rail network and markets served.
  • Knowledge and experience of the transport industry.
  • Knowledge and experience of working with or within the public sector.

 

Good to know…

  • Role has been retained indefinitely with Ford & Stanley Executive Search who will be managing all direct and indirect interest.
  • TfW has a 5 year plan to invest up to £2bn in rolling stock enhancements and infrastructure upgrades.
  • Role will likely involve a mix of working from home / remotely with ad hoc working when required, from Pontypridd HQ.
  • The teams are spread across various geographical locations of the UK, remote working is effective for TfW at this time, however it is expected that head office based working will increase to an expectation of at least once a week within the next 3-4 months.
  • 2 stage interview process. 1st stage interview via teams with the Head of Commercial Strategy. Final Stage face to face on site to include a presentation, and interview with Head of Commercial Strategy and Head of HR.
  • Role reports into the Head of Commercial Strategy and will inherit a highly performing, well engaged team.
  • Role offers a good work life balance with flexibility offered on working locations.
  • The business has currently undergone a re-structure of departments to create more concise and strategic working throughout the functions lead by the following heads of business:
    • Head of Pricing & Revenue Management (Vacant)
    • Head of Network Growth
    • Head of Retail
    • Head of Commercial Insights & Analytics

 

  • The role has 2 direct reports to include a pricing manager and revenue management analyst, with one additional indirect report. There are plans to grow the team in future, with the Head of Pricing and Revenue Management playing a role in shaping this change.

Context:

The Commercial and Customer Experience directorate provides leadership in the organisation for commercial contracting (supply chain, procurement, and contract management), commercial strategy (growing our existing and new business), customer experience and transport integration across the TfW network.

The Commercial Strategy team lead the commercial growth, analysis, and product development activities, as well as managing and developing our customer facing retailing systems.

The team work across the organisation, but particularly in support of the rail business. The Head of Pricing & Revenue Management is responsible for setting strategic direction for all Pricing and Revenue Management activity and delivering incremental revenue gains and improvements to the overall customer experience because of these activities.

Main accountabilities:

  • Manage and work within an agreed annual budget.
  • Lead the development and delivery of pricing strategies for fare products with a current value of up to £150m annually.
  • Accountable for project managing all fares activity across three industry fares setting rounds per annum (usually in January, May and September).
  • Deal with any spikes in workload and be able to work under pressure to meet industry deadlines and solve complex fares/revenue management related problems.
  • Lead a team of three individuals (including two direct reports).
  • The role will set strategic direction on pricing and revenue/yield management activity for the next 5 years.
  • This role will typically plan multiple years ahead In line with a wider 5-year strategy.
  • Lead the ongoing development and delivery of an effective and forward-looking Pricing & Revenue Management strategy for the Wales & borders transport network, by delivering an annually updated plan to deliver incremental gains from effective revenue/yield management, tactical pricing and other fares related activities.
  • Lead and manage a team of 3 who are responsible for Pricing and Revenue Management activities to drive continuous improvement and develop subject matter expertise.
  • Enhance revenue management and the control of reservable inventory by using industry and other research, learnt experience and other sources to maintain continuous improvement.
  • Identify opportunities to drive improvement in pricing and revenue management activity by collaborating with colleagues around the wider rail industry, Welsh Government, UK Department for Transport and other transport bodies to ensure that TfW remain cognisant of industry developments and longer-term ambitions in these areas.
  • Manage relationships with the Welsh Government, Department for Transport, and other colleagues within TfW with respect to annual fare rises and the role of fares regulation by coordinating regular meetings and providing Input to ensure that proposed changes are consulted, agreed, and delivered.

Budget / Package Offered:

  • Low £60k – Mid £62k – High £65k
  • Sick pay – full pay for 6 months, half pay for a further 6 months – this is from day 1 of employment
  • Holiday – 28 days + bank holidays
  • Pension – 8% through Nest, employee contributes 5%
  • 4 x death in service
  • Free train / rail travel on TfW services
  • Free leisure travel across all lines and routes for you, your partner and dependent children on TfW services

About Ford & Stanley Executive Search – Specialist Head-hunters to the UK & European Rail Industries.

At Ford & Stanley Executive Search we go beyond a recruiting transaction with our core mission being that of every interaction we have with clients and candidates is best in class. We are select in the opportunities we represent, as such, work under strict exclusivity or retained agreements with forward thinking and proactive Rail companies that place their trust in our ability to deliver a winning shortlist at the first time of asking.

Our Search Directors (who are themselves members of the F&S Group Board) invest time at the front end of process with our client’s leadership team or stakeholders to consult, understand the opportunity inherent within the role, business need, map and agree timescales with supporting delivery plan well in advance of conducting the search.

All candidates both active and passive (head-hunted) can expect full and professional engagement from the Executive Search team in addition a timely, thorough and engaging recruitment process from a committed employer that seeks to secure ‘cream of the crop’ from a busy and noisy UK Rail candidate market.

Ford & Stanley Group Ltd is a Disability Confident Committed employer and is committed to a policy of equal opportunities for all opportunity seekers and approach all opportunity with a mindset of who is right for the job irrespective sex, sexual orientation, gender reassignment, marital or civil partnership status, age, disability, colour, race, nationality, ethnic or national origin, religion or belief or political beliefs and we place an obligation upon all staff to respect and act in accordance with the policy. We shall adhere to such a policy at all times and will review on an on-going basis all aspects of recruitment to avoid unlawful or undesirable discrimination.