Managing Director jobs

Typically, people in managing director jobs are the most senior full-time executives within their organisation, unless there is also an executive chair. In this respect, the managing director (MD) role is essentially the same as that of the chief executive officer. They have overall responsibility for the performance of their organisation, in line with the overarching strategy of their board. Success in the role requires the managing director to be an exceptional leader who can manage effectively throughout a crisis and implement strategic plans.

Expected job role tasks

People in managing director jobs have wide-ranging responsibilities, covering everything from the hiring and development of staff, to the development and maintenance of a strong, positive brand image. Within those broad areas, the MD will need to prepare an annual business plan demonstrating how the organisation will meet or exceed its targets, and monitor progress to ensure goals are reached in as efficient and cost-effective a manner as possible. While they are ultimately tasked with delivering the board’s vision, they must also provide advice and guidance to the board and chair to ensure that the organisation’s strategic direction is in line with the company’s mission and objectives, and is compliant with all relevant regulations, such as health and safety legislation and equal opportunities policies. They also have an important external role, forming effective relationships with important clients or customers, policy-makers at local and national levels, and any other key stakeholders. These relationships may involve sharing knowledge or generally ensuring that the organisation’s products or services are of sufficient quality or variety. This may also involve representing the organisation in negotiations with suppliers, customers, and government departments to negotiate deals and secure the best possible terms on contracts.

Primary function

Despite having such wide-ranging responsibilities, the main function of the managing director is ultimately to lead and take control of their organisation’s operations, providing the necessary direction, advice, and support to deliver on targets and achieve its mission. This can be more succinctly defined as simply driving organisational success.

Necessary hard/soft skills

Any candidate seeking a managing director job must have a strong track record of delivering results in a senior leadership position, ideally in a similar industry. In almost all cases, this will require a minimum of ten years’ experience in senior-level roles, managing both people and resources. They will have an extensive understanding of the industry, and preferably will have developed a substantial network of key contacts in potential supplier, client, and governmental organisations.

As a business leader, they should also have a strong grounding in financial management, a broad understanding of management techniques and concepts, and excellent general commercial awareness. A skilled negotiator and relationship-builder, they must lead the organisation and make key decisions while managing different and often conflicting demands, while also ensuring compliance with all statutory requirements. They should trust their judgement and be prepared to make difficult decisions when needed, while also understanding their limitations and knowing when they need to back down or tap into advice from other stakeholders throughout the organisation. They must also be able to communicate their vision and strategy effectively, not just to board members, but to employees at all levels of seniority.

Qualifications required

There is no single qualification that automatically makes a candidate well suited to  the role of managing director, with experience generally dictating whether or not someone secures an MD role. However, most managing directors have a degree, often an MBA.