Spin out Transaction Manager
Employee | Marketing / Communication | Professional | Netherlands | North Holland | 12 | 2020-07-13 | REQ-10028456
Spin out Transaction Manager for ING Labs
Are you all about driving initiatives towards new ventures? Getting in-depth knowledge of spinning out from the organisation successful ventures? Connecting the dots between the ING organisation and the relevant ecosystem? As the spin out transaction manger for ING Labs you will drive the process of spinning out successful projects from ING Labs into disruptive ventures or consortium to create impactful new businesses that go beyond the traditional domain of banking.
WHO WE ARE
Innovation is crucial to providing a differentiating customer experience. Our approach to innovation is built around making banking more personal, relevant, instant and seamless for customers; stimulating a culture that is open to new ideas; and connecting and cooperating with others to innovate faster. We partner with FinTechs and set up incubators and accelerators to harness the potential of technology and develop new products and services that meet our customers needs. We are willing to disrupt our core business and we are eager to pursue beyond banking opportunities. All with the aim to create a differentiating customer experience and to create impactful new (platform based) business models for ING.
Furthermore, our business centers around people and trust. Only by acting with professionalism and integrity we can maintain our clients confidence and preserve our company reputation. The ING Values play an important role in this respect. You adhere to the ING values and it is evident to you that your behavior is fully aligned with our values.
Innovation being at the core of ING's Think Forward Strategy and a critical enabler to its success, the role of the Spin Out Transaction Manager is to ensure a smooth spin out and divestment process for ING Labs Initiatives that will scale outside ING Legal Entity. The Transaction Manager will ensure that the process is aligned with ING Venture investment process and the required supporting functions (Legal, Risk, Tax, Finance, HR) and ensure ING Labs teams are able to smoothly transition from an ING Labs internal initiative to an independent external entity or consortium (with or without Investment from ING Ventures).
Design and improve spin out and divestment process: Design and maintain an efficient spin out and divestment process to ensure consistent and clear transition of an ING Internal Initiative into an external legal entity, with or without follow up investment of ING Ventures. Such process needs to be aligned with:
- ING Venture decision making investment process
- ING Labs requirements and Innovation Fund scaling framework
- Regulatory requirements
- Finance and tax processes and requirement
Advice ING Labs on best spin out scenario: proactively help initiatives and ING Labs identifying consequences of transitioning between and ING project to an external entity with majority or minority investment, including
- Understanding consequence for NewCo to be a standalone company with Investment from ING ventures, including future governance model and operational model
- Help ING Labs management to understand potential implication on scaling decision
Lead the execution of ING Labs transaction (spin out / consortium / divestment): be the Lab SPOC for the execution of ING Labs spin out, consortium and divestment, acting as a guidance for the team, owner of process and responsible for the correct adherence to the process. This includes:
- Help the ING Labs teams to prepare documentation needed by ING Ventures to decide on investment
- Find external VC interested in investing in ING Labs Ventures
- Coordinate negotiations between multiple parties involved
- Lead the asset identification, valuation, transfer for the transaction
- Liaise with supporting function (Lawyers, IP experts, Valuators etc.) to make sure the right requirement are taken into consideration
- Properly document the process for future obligation
We are looking for an enthusiastic, international, results-driven professional who exceeds people’s expectations and will help ensure we disrupt our core or pursue beyond banking opportunities through building impactful new spin-outs.
You thrive in a high-performance culture. You are not afraid to challenge the status quo, think out of the box and are someone who always sees and pursues opportunities.
You can show a positive track record in transaction management and in setting up new companies, joint ventures and consortium.
Check your profile:
- Background in corporate finance M&A, consulting M&A and/or corporate ventures
- Back ground as VC strong plus
- Track record in transaction management
- Deep understanding of venture and start-up dynamics
- Experience with setting up consortium
- Understanding of basic financial accounting and corporate policies
- Experience in managing investment deals (term sheets, due diligence process, valuation)
- Outstanding entrepreneurial skills within a blue-chip environment
- Results oriented and driven to make a real impact, always putting customer needs and motivations at the core
- Excellent analytical, fact driven and conceptual thinker
- Able to take helicopter view and see the bigger picture
- Creative and experimental spirit, embraces failure to succeed
- Proven ability to influence executive stakeholders creating buy-in and engagement;
- Ability to succeed in a fast paced environment without existing organizational structures or processes
What we offer
- We offer a full time (36-40 hour workweek) position for a secondment or short-term/long term assignment
- Open, informal, fun working environment and with own office space in the Cedar building for the initiative
- Work in a cross-functional, multicultural agile team
- Fantastic colleagues
Interested or want to learn more?
Click on Apply for this job.
We expect all candidates to live by the ING Orange code and are willing to take the Bankers Oath (see: https://www.ing.jobs/Netherlands/Why-ING/Orange-Code.htm)