Head of Auctions

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in the fastest-growing metal marketplace in India - Industry Impact: Transform an industry that's been operating with outdated systems for decades Key ResponsibilitiesStrategic Leadership (30% of role) - Define auction and tender strategy for ScrapCart's metal scrap verticals - Lead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