Head of Auctions

Job Description

Reports to: Founder

Team Size: 8-12 direct/indirect reports

Compensation: 35-50 lakhs + aggressive equity + performance bonuses

Target Profile: Senior leaders from MSTC, mjunction, SteelzX with 8+ years experience

Lead the transformation of India's metal scrap trading landscape with cutting-edge technology, modern user experience, and unprecedented market reach. Move from legacy systems to next-generation marketplace infrastructure while maintaining the institutional knowledge and relationships you've built.

- Technology Modernization: Bring your deep auction expertise to a modern, AI-powered platform
- Market Expansion: Scale beyond traditional PSU clients to the entire Indian metal ecosystem
- Innovation Leadership: Shape the future of metal scrap trading with blockchain, smart contracts, and automation
- Equity Upside: Significant ownership stake in the fastest-growing metal marketplace in India
- Industry Impact: Transform an industry that's been operating with outdated systems for decades

Key ResponsibilitiesStrategic Leadership (30% of role)

- Define auction and tender strategy for ScrapCart's metal scrap verticals
- Lead digital transformation of traditional metal trading processes
- Establish market-making capabilities for spot trading and forward contracts
- Drive competitive positioning against MSTC, mjunction, and other legacy platforms
- Build institutional relationships with PSUs, private steel companies, and metal traders
- Shape product roadmap for auction engine features and capabilities

Operational Excellence (25% of role)

- Design and implement auction formats (English, Dutch, sealed bid, reverse auctions)
- Establish tender management processes for large-scale industrial disposal
- Create quality assurance frameworks for auction materials and specifications
- Implement settlement and payment systems for high-value transactions
- Ensure regulatory compliance with e-auction guidelines and tender regulations
- Optimize auction timing and frequency for maximum participation and value realization

Business Development (25% of role)

- Leverage existing relationships from previous roles to accelerate client acquisition
- Target major steel producers (Tata Steel, JSW, JSPL, Vedanta, ArcelorMittal Nippon Steel)
- Build PSU relationships for surplus material disposal and scrap procurement
- Develop strategic partnerships with metal traders, brokers, and financial institutions
- Create corporate scrap programs for manufacturing and infrastructure companies
- Establish international trading capabilities for export/import opportunities

Team Building & Development (20% of role)

- Recruit specialist talent from metal trading and auction industries
- Build auction operations team with expertise in different metal categories
- Develop training programs for auction management and tender processes
- Create performance management systems with clear targets and incentives
- Establish best practices for client relationship management and business development

Target Candidate ProfilePrimary Targets (Ideal Candidates)

- MSTC Senior Managers/General Managers with 8+ years in metal trading auctions
- mjunction Business Heads with steel industry relationships and auction expertise
- SteelzX Leadership Team with digital trading platform experience
- PSU Steel Company Procurement Heads with vendor management and sourcing expertise
- Metal Junction/SteelMint Senior Leaders with market-making and trading experience

Essential Experience & Networks

- 8+ years in metal scrap trading with focus on ferrous and non-ferrous materials
- Deep auction management experience across multiple auction formats and scales
- Established relationships with steel industry (Tata, JSW, JSPL, SAIL, RINL, Vedanta)
- PSU procurement expertise with understanding of government tender processes
- Large-scale transaction management (deals worth 10+ crore annually)
- Regulatory knowledge of metal trading, e-auction guidelines, and compliance requirements

Industry Knowledge & Expertise

- Metal specifications and grading for ferrous scrap, non-ferrous metals, and alloys
- Market dynamics and pricing for different metal categories and grades
- Supply chain logistics for metal transportation, storage, and handling
- Quality control processes for material inspection and certification
- Financial instruments for trading, credit, and risk management
- International trade experience with export/import of metal materials

Technical & Business Skills

- Auction platform expertise with understanding of bidding algorithms and market mechanisms
- Business development acumen with proven track record of client acquisition
- Strategic thinking with ability to identify market opportunities and competitive advantages
- Team leadership with experience building and managing specialized teams
- Negotiation expertise with complex, high-value transaction experience

Compensation & Incentive StructureBase Package

- Fixed Salary: 35-50 lakhs (significant premium over current market rates)
- Joining Bonus: 10-15 lakhs (to offset leaving bonuses and benefits)
- Equity Participation: 0.5-1.5% vesting over 4 years
- Annual Performance Bonus: 25-40% of base salary based on auction volume and revenue

Performance Incentives

- Revenue Targets: 2-3% commission on gross auction revenue above targets
- Client Acquisition: 2-5 lakhs bonus per major enterprise client onboarded
- Volume Bonuses: Tiered bonuses for auction volume milestones
- Strategic Wins: Special bonuses for winning major competitive deals

Additional Benefits

- Comprehensive Health Insurance: Family coverage with premium medical facilities
- Stock Options: Additional grants based on company performance and individual contribution
- Professional Development: 2 lakhs annually for conferences, training, and industry events
- Flexible Work Arrangements: Hybrid work model with travel allowances for client meetings